Kellogg-based Bunker Hill Mining Corp. says it plans to acquire Silver47 Exploration Corp. out of Vancouver, Canada, in an all-stock transaction valued at $163 million. The potential transaction would expand Bunker Hill's mineral projects across four states. 

Silver47 would become a subsidiary of Bunker Hill after closing. Bunker Hill's headquarters will remain in the Silver Valley, says Bunker Hill CEO, Sam Ash.

The combined company is expected to have a market capitalization of $326 million, the company says.

Keeping a U.S. portfolio also fits Bunker Hill’s strategy, as manufacturers and policymakers increasingly focus on strengthening domestic supplies, Ash says.

The U.S. has an opportunity to increase domestic mining under modern environmental and safety standards, he explains.

“There has been a healthy discussion in the United States around what our capabilities are in meeting our demand for metals to support our economy,” Ash says. "I believe we can do it, and we can do it without harming the environment in the process."