Bunker Hill Mining has acquired Silver47 Exploration in an all-stock transaction valued at $163.0 million. The deal, which was finalized following shareholder and regulatory approvals, brings Silver47’s portfolio of U.S. silver and critical metals projects under Bunker Hill’s operational umbrella. Silver47 shareholders will receive shares of Bunker Hill common stock as consideration for the acquisition.
Silver47 Exploration, formed through an August 2025 merger with Summa Silver, holds six wholly-owned exploration projects across the United States and Canada. Its flagship asset is the Red Mountain Project in southcentral Alaska, a silver-gold-zinc-copper-lead-antimony-gallium deposit with an inferred mineral resource of 15.6 million tonnes at 7% zinc equivalent, or 335.7 g/t silver equivalent, totaling 168.6 million ounces of silver equivalent. The company also owns the Hughes Project in central Nevada, which hosts the historic Belmont Mine, a prolific silver producer from 1903 to 1929, and the Mogollon Project in southwestern New Mexico, the largest historic silver producer in that state. Both U.S. projects have seen no modern exploration since commercial production ceased.
Bunker Hill Mining, which operates the past-producing Bunker Hill mine in Idaho’s Silver Valley, is acquiring these assets to expand its footprint in domestic silver and critical minerals. The acquisition adds early-stage exploration upside to Bunker Hill’s existing production-focused operations, providing a pipeline of projects at varying stages of development. The Red Mountain project, with its substantial inferred resource, offers near-term resource growth potential, while the Hughes and Mogollon projects present longer-term exploration opportunities in historically productive districts.
The transaction is expected to consolidate technical expertise across both companies, with Bunker Hill’s operational experience in mine development complementing Silver47’s exploration capabilities. The combined entity will hold a diversified asset base spanning Alaska, Nevada, New Mexico, and Idaho, along with Canadian projects, reducing geographic concentration risk. Management has indicated that integration efforts will prioritize advancing Red Mountain toward preliminary economic assessment while maintaining exploration momentum at the other sites.
The combined company is positioned to leverage its expanded project portfolio to address growing U.S. demand for silver and critical metals used in industrial and defense applications. With a strengthened land position and a multi-project pipeline, the merged entity will focus on advancing its most promising assets while continuing to evaluate additional consolidation opportunities in the sector.