Silver Dollar Resources Inc. — M&A Activity 2025

Oct 28, 2025

SILVER DOLLAR
RESOURCES

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1: Name and Address of Company

Silver Dollar Resources Inc. (the “Company” or “Silver Dollar”)
Suite 416, 179 - 2945 Jacklin Road
Victoria, BC, V9B 6J9

Item 2: Date of Material Change

October 25, 2025

Item 3: News Release

A news release was issued October 27, 2025 at Vancouver, British Columbia and was disseminated by Newsfile.

Item 4: Summary of Material Change

The Company announced it has signed an asset purchase agreement with Bunker Hill Mining Corp., whereby Bunker Hill Mining Corp. and its subsidiary will acquire from Silver Dollar Resources Inc. and its subsidiary, the right, title and interest in the assets related to the Ranger-Page Project located in Shoshone County, Idaho, USA.

Item 5: Full Description of Material Change

The Company announced it has signed an asset purchase agreement (the “Agreement”) with Bunker Hill Mining Corp., whereby Bunker Hill Mining Corp. and its subsidiary (together, “Bunker Hill”) will acquire from Silver Dollar Resources Inc. and its subsidiary (together, “Silver Dollar” or the “Company”), the right, title and interest in the assets related to the Ranger-Page Project located in Shoshone County, Idaho, USA, which includes Silver Dollar’s 75% interest in the Government Gulch property and its related option rights under the Government Gulch Option and Joint Venture Agreement and the Page Mine Mineral Rights Lease and Option Agreement.

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Figure 1: Plan map showing the combined Bunker Hill - Ranger-Page land package.

Sam Ash, President and CEO of Bunker Hill Mining, stated: "The addition of the Ranger-Page Mines represents another step in our vision to re-establish Bunker Hill as a leading producer in the Silver Valley. The Ranger-Page workings and mineralized zones are geologically continuous with the Bunker Hill system, offering immediate synergies for exploration, development, and potential future production."

"Amalgamating the Ranger-Page Project with Bunker Hill Mining is a strategic and logical transaction that aligns perfectly with the plan we contemplated when we acquired the Project last year," said Greg Lytle, President and CEO of Silver Dollar. "While the transaction has happened faster than expected, we are confident the timing is optimal for both companies. Ranger-Page enhances Bunker Hill's exploration prospects and provides Silver Dollar with a strong equity position in a near-term producer, benefiting from the upside of the combined assets."

Figure 2: Cross-Section showing the Bunker Hill - Ranger-Page underground workings and target area.

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Strategic Highlights:

• Consolidated Land Position: The acquisition unites the Ranger-Page and Bunker Hill properties into a contiguous land package, creating one of the largest and most prospective holdings by any single company in the Silver Valley.
• Exploration Upside: Historical drilling and production data from the Ranger-Page indicate high-grade silver-lead-zinc mineralization along the Page vein system, which remains open at depth and along strike.
• Infrastructure Synergies: The Ranger-Page Mines' existing underground workings and surface access points could provide additional flexibility for future mine planning, ventilation, and exploration access to deeper levels of the Bunker Hill system.
• Complementary to Restart Plan: The acquisition is aligned with Bunker Hill's ongoing restart of operations at the Bunker Hill Mine, targeted for H1 2026, and enhances the Company's upside optionality for future resource expansion and mill feed sources.
• Community benefits: This has the potential to create more local employment opportunities within the Silver Valley and stimulate procurement from regional suppliers in ways that benefit the local communities.

Transaction Summary

Under the terms of the agreement, Bunker Hill agreed to acquire all of Silver Dollar's interest in the Ranger-Page Project and associated claims from Silver Dollar for total consideration of CAD$3,500,000, payable by the issuance of 23,333,334 Bunker Hill Common Shares at a deemed price of CAD$0.15 per share. The Bunker Hill Common Shares will be subject to a statutory six-month hold period and contractual escrow and will be released in accordance with the following schedule:

Release Date	Payment Shares Release Schedule from Contractual Escrow
6-month anniversary of Closing Date	2,333,333 Shares
9-month anniversary of Closing Date	2,333,333 Shares
12-month anniversary of Closing Date	Balance of Shares (18,666,668 Shares)

The Agreement is subject to Bunker Hill's due diligence review in respect of the title to the Ranger-Page Project within 15 business days of the date of the Agreement and it also includes representations, warranties, covenants and indemnities customary in transactions of this nature. Silver Dollar will, subject to Canadian Securities Exchange acceptance, pay a finder's fee by the allocation of 1,166,667 of the Bunker Hill Common Shares to each of Kluane Capital FZCO and Canal Front Investments Inc. in respect of the transaction. The finders' shares will be subject to the same statutory and contractual escrow restrictions as described above.

Closing of the transaction is expected to be completed on or before November 28, 2025.

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Item 6: Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102
Not applicable

Item 7: Omitted Information
Not applicable

Item 8: Executive Officer
Gregory Lytle, President and Chief Executive Officer
Telephone (604) 922-9409

DATED AT Victoria, British Columbia this 28th day of October, 2025.

SILVER DOLLAR RESOURCES INC.
Signed “Glen Wallace”
per Glen Wallace, MBA, CPA, CGA