news1-640x640-1.jpg

November 17, 20220

Toronto, Ontario, November 15, 2022 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) announces details of its proposal to consolidate all of the issued and outstanding Common Shares of the Company on the basis of one(1) New Common Share for every 5.7 old Common Shares (the “Consolidation”), subject to the approval of shareholders at the upcoming meeting of shareholders to take place on December 15, 2022,as well as TSXV approval.

 

With currently 177,688,639 Common Shares issued and outstanding in the share capital of the Corporation, on a post-Consolidation basis the Company shall have approximately 31,173,445 Common Shares issued and outstanding. The purpose of the Consolidation is to adjust the number of outstanding common shares to levels that are better aligned with companies of Honey Badger Silver’s valuation and scope,with the potential to provide additional trading liquidity to investors.

The Consolidation will not materially affect the percentage ownership a shareholder has in the Corporation,nor impact on the respective voting rights and privileges.  It simply increases a shareholder’s per share value proportionately through a reduction in the number of issued and outstanding shares.The name of the Company will remain unchanged after the Consolidation.

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With advanced projects in southeast and south-central Yukon and a significant land position in Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams,

Non-Executive Chairman and Director

 

Honey Badger Silver Inc.

401 Bay Street, Suite 2704,

P.O. Box 4, Toronto, Ontario, M5H 2Y4

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

 

Such factors include, but are not limited to, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 


newspapers-folded-stacked-640x640-1.jpg

October 6, 20220

TORONTO, October 6, 2022.  Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce completion of a summer work program at its wholly-owned Groundhog property in the Yukon. Groundhog is one of three high-grade silver projects acquired by Honey Badger in June of 2021,along with Plata and Hy,that is well situated and displays favourable geology analogous to nearby past producing mines.  The Company engaged Archer, Cathro& Associates (1981) Limited, the established leader in Yukon mineral discoveries, to oversee the work program.

The Company is also pleased to report it has received a maximum $22,800 grant allowed under the Yukon Mineral Exploration Program (YMEP) towards funding the Groundhog 2022 program.

Highlights:

  • 4,200-hectarewholly-owned property hosting 18 silver-lead-zinc showings;
  • Results pending on49 rock samples and 488 soil samples collected;
  • Past rock samples grading up to 13,028 g/t silver, 85% lead, 4.46% zinc and 3.73% copper;
  • Road accessible – 10 kmeast of the South Canol Highway and 30 kmwest of the formerKetza Gold Mine.

Ed Thorose, President of Honey Badger stated, “This year’s program at Groundhog was designed to extend the findings of past explorers. While previous work at Groundhog focused on silver in high-grade galena veins, the potential for larger scale precious and base metal mineralization has not been evaluated. We look forward to having these highly prospective targets advanced while continuing to assess new opportunities within this substantial land package”.

Mr. Thorose added, “We are also very appreciative to receive the support and confidence of the Yukon Government and Geological Survey for providing us with funding assistance.”

2022 Groundhog Program Overview

The 2022 work program at Groundhog comprised soil sampling and detailed structural and lithological mapping of previously identified showings to understand their extents, character, and structural/stratigraphic relationships relative to each other. The program was completed by a crew of four people from a tent camp.

In all, 49 rock samples, including 11 chip samples were collected from seven showings on the property. In addition, 488 soil geochemical samples were collected on 4 soil grids in the western and south-western parts of the property in areas lacking coverage.

Assay results from the rock and channel sampling program are pending and will be released once they have been received and analyzed by the Company.

Technical information in this news release has been approved by Heather Burrell, P.Geo., asenior geologist with Archer, Cathro& Associates (1981) Limited and qualified person for thepurpose of National Instrument 43-101.

ON BEHALF OF THE BOARD
Chad Williams
Director and Non-Executive Chair

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is positioning to be a top-tier silver company.

For more information, please visit our website above, or contact:
Ms. Christina Slater: cslater@honeybadgersilver.com
(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historic fact may be “forward-looking information”. Forward-looking information are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects”, and similar expressions which are intended to identify forward-looking information as such. More particularly and without limitation, this news release contains forward-looking information concerning the proposed acquisition by the Company of the Cachinal Project, the proposed consideration and structure of such acquisition (including the mutual break fee payable in certain circumstances), and the ability of the parties thereto to complete the proposed transaction on the terms and timelines agreed. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including: risks relating to failing to negotiate the definitive documentation concerning the proposed acquisition of Cachinal on the terms expected or at all; risks relating to the potential payment of the break fee in certain circumstances; risks relating to inability to secure necessary third-party consents or regulatory or other governmental approvals on a timely basis, or at all; general political risks and risks relating to changing laws, risks inherent with uncertain economic conditions, among other risks and uncertainties. Accordingly, the reader is cautioned not to place undue reliance on any forward-looking information contained in this news release. The forward-looking information contained in this news release are made as of the date hereof, and the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


news2-640x640-1.jpg

August 18, 20220

TORONTO, August 18, 2022 (GLOBE NEWSWIRE) – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce that further to the Company’s news release dated June 10, 2022, it is on track to acquire 100% interest in the Cachinal De La Sierra Silver-Gold Project (“Cachinal” or the“Project”), located in the Cachinal de la Sierra area in Chile’s Antofagasta Region II, from Aftermath Silver Ltd. (“Aftermath”).

Chad Williams, the Company’s Director and Non-Executive Chair commented, “Honey Badger’s technical team is concluding its due diligence process and we are now aiming to finalize the definitive agreement with Aftermath. We expect the transaction to close inSeptember, subject to regulatory and TSX Venture Exchange approval.”

Honey Badger and Aftermath have also mutually agreed to extend the non-binding Term Sheet and exclusivity end date to September 30, 2022, from August 15th, 2022.

ON BEHALF OF THE BOARD
Chad Williams
Director and Non-Executive Chair

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, developmentand integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, and a dominant land position in Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

For more information, please visit our website above, or contact:
Ms. Christina Slater: cslater@honeybadgersilver.com
(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historic fact may be “forward-looking information”. Forward-looking information are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects”, and similar expressions which are intended to identify forward-looking information as such. More particularly and without limitation, this news release contains forward-looking information concerning the proposed acquisition by the Company of the Cachinal Project, the proposed consideration and structure of such acquisition (including the mutual break fee payable in certain circumstances), and the ability of the parties thereto to complete the proposed transaction on the terms and timelines agreed. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including: risks relating to failing to negotiate the definitive documentation concerning the proposed acquisition of Cachinal on the terms expected or at all; risks relating to the potential payment of the break fee in certain circumstances; risks relating to inability to secure necessary third-party consents or regulatory or other governmental approvals on a timely basis, or at all; general political risks and risks relating to changing laws, risks inherent with uncertain economic conditions, among other risks and uncertainties. Accordingly, the reader is cautioned not to place undue reliance on any forward-looking information contained in this news release. The forward-looking information contained in this news release are made as of the date hereof, and the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

 

 


news1-640x640-1.jpg

June 13, 20220

Honey Badger toAcquire 100% of the CachinalSilver-GoldProject in Chile, with 16.3 Million Ounces of Indicated and 2.5 Million Ounces of Inferred Silver Resources

Toronto, Ontario – June 13, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce that it has entered into a non-binding term sheet (the “Term Sheet”) to acquirefrom Aftermath Silver Ltd. (“Aftermath”) its100% interest in the Cachinal De La Sierra Silver-Gold Project (the “Cachinal Project” or “Cachinal”), located in the Cachinal de la Sierra areain Chile’s Antofagasta region(Region II).  The proposed transaction includes an exclusivity period that ends on August 15, 2022.  Honey Badger and Aftermath are working diligently to finalize a definitive agreement on or before this date. 

Cachinal Project Highlights

  • Open-pitIndicated Resource of 15.03 Mozof silver grading 97 g/t of silver and 20.05Koz of gold grading 0.13 g/t gold;
  • Open-pit Inferred Resource of 0.41 Mozof silver grading 73 g/t of silver and 0.43Koz of gold grading 0.07 g/t gold;
  • Underground Indicated Resource of 1.29 Moz of silver grading 182 g/t of silver and 1.65Koz of gold grading 0.22 g/t gold;
  • Underground Inferred Resource of 2.07 Moz of silver grading 180 g/t of silver and 2.18Koz of gold grading 0.19 g/t gold;
  • Proximity to Austral Gold Limited’s (“Austral Gold”) operating Guanaco Mine and Mill complex, located just 16 kmto the south;
  • Good potential to confirm and incrementally expand existing resources and discover additional mineralization on the property and in the region. 

The mineral resource was independently prepared by SRK Consulting (Canada) Inc. in a technical report filed on Aftermath’s SEDAR profile at www.sedar.com, with an effective date of August 10, 2020 and prepared in accordance with National Instrument 43-101 – Standards ofDisclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”).

Chad Williams, Director and Non-Executive Chair of Honey Badger stated, “We are very pleased to announce a further accretive addition to our growing portfolioof silver assets.  Cachinal isa significant known silver resource located in a favorable jurisdiction.  Moreover, its proximity to Austral’s Guanaco mine and mill complex may offer substantial synergies to advancing Cachinal to production in a timely manner. We believe Cachinalwill be transformational for Honey Badger.

We were also greatly encouraged and inspired by arecent speechdelivered byH.E. Gabriel Boric, President of the Republic of Chile, at an event hosted by the Canadian Council for the Americas. During this event, Mr. Boric strongly signalled his commitment to property rights, and the rule of lawin addition to welcoming direct foreign investment.  Chile’s long-standingpartnership with Canada to generate economic growth and jobs for all was reiterated in meetings with Prime Minister Trudeau during his visit.”

Transaction Summary

The Term Sheetcontemplates that Honey Badgeror anaffiliate will acquire all of the issued and outstandingshares of Minera Cachinal S.A., a wholly-owned subsidiary of Aftermath,according to the following terms:

  • Share Payment: C$1,000,000in sharesof Honey Badger payable at closingand priced atthe greater of: (i) the volume weighted average share price of the Honey Badger common shares on the TSXV for a period of thirty (30) trading days immediately preceding the date of announcement of the transaction and (ii) the maximum discounted price allowed under the policies of the TSXV.
  • Cash Payments: a)C$400,000 payable at closing, b) C$452,000 six months after closing, c)C$400,000 on May 21, 2023 and d) C$400,000 eighteen months after closing.
  • Royalty: Honey Badger shall grant a 1% Net Smelter Return Royalty with a complete buyback option at Honey Badger’s sole discretion for a purchase price of C$8,500,000;
  • Production Payments: Upon commencement of commercial production, Honey Badger shall pay in cash or shares at Aftermath’s option, C$0.50 per payable silver ounce produced at the Cachinal Project, capped at C$2,000,000 in payments.

The detailed terms and conditions of the proposed transaction will be set out in definitive documentation to be negotiated between the parties, which will contain customary representations, warranties and covenants of the parties as well as customary indemnities and closing conditions. There can be no assurance that the proposed transaction will be completed on the terms contemplated, or at all. Readers are referred to the section below entitled: “Cautionary Note Regarding Forward-Looking Information”.

While the Term Sheet is non-binding, the parties have agreed to a mutual break fee of C$250,000 in the event a definitive agreement is not entered into prior to the expiry of the exclusivity period due to a party’s action or inaction, subject to certain exceptions outside the control of the parties. The proposed transaction will be subject to regulatory approval, including the approval of the TSX Venture Exchange (the “TSXV”).

CachinalAsset Overview

Cachinal is a low-sulphidation epithermal deposit located in the Paleocene Gold Belt of northern Chile, which hosts several significant gold and silver deposits, including Yamana Gold’s El Penon Low Sulfidation Epithermal gold–silver mine and Austral Gold’s Guanaco gold-silver mine-complex, just 16 kilometers to the south. Shallow drilling at Cachinalhas defined the current mineral resources principally to a depth of 150 metres below surface and provides sufficient evidence to interpret the presence of high-grade shoots within the vein system extending below the base of a potential open pit.

Cachinal Location

The Cachinal silver-gold project is located in Chile’s Antofagasta region(Region II). The project is located about 40 kmeast of the Pan AmericanHighway, in a nearly flat plain at an elevation of around 2,700 metres above sealevel, 16 km north of Austral Gold’s Guanaco gold-silver mine and mill complex.

CachinalNI 43-101 Resource Estimate

The CachinalMineral Resource was documented in a technical report prepared following theguidelines of NI 43-101 and Form 43-101F1, and in conformity with the generally accepted CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” (2019) by SRK Consulting (Canada) Inc.,authored by independent qualified persons Glen Cole,P.Geoof SRK Consulting, and Sergio Alvarado Casas, CMC of Geoinvest SAC E.I.R.L. (Chile), on behalf of Aftermath Silver Ltd., with an effective date of August 10, 2020.

RESOURCE Classification material type tonnes (mt) silver (g/t) gold (g/t) silver (moz) gold (Koz)
Indicated Open Pit 4.83 97 0.13 15.03 20.05
Underground 0.22 182 0.22 1.29 1.65
TOTAL 5.05 101 0.13 16.32 21.70
Inferred Open Pit 0.17 73 0.07 0.41 0.43
Underground 0.36 180 0.19 2.07 2.18
TOTAL 0.53 145 0.15 2.48 2.61
                     

Notes on the Cachinal Mineral Resource Estimate:

  • For completedetails on the Cachinal Mineral Resource estimate, please refer to the NI 43-101 technical report titled “Independent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile”, by Qualified Persons G. Cole, (P.Geo) of SRK Consulting (Canada) Inc. and S. Alvarado Casas, of Geoinvest SAC E.I.R.L. (Chile), dated September 11, 2020 with an effective date of August 10, 2020, filed on the Aftermath Silver SEDAR profile.
  • Cachinal mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014).
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  • All figures have been rounded to reflect the relative accuracy of the estimates.
  • Cut-off grades are based on metal price assumptions of US$22.00 / ounce of silver and US$1,550 / ounce of gold, and metallurgical recoveries of 85% for both silver and gold using milling and cyanide leaching.
  • The portion of the Mineral Resources that has been determined to be amenable to extraction through open-pit methods was reported to a cut-off of 30 g/t silver equivalent.
  • The open-pit Mineral Resource is constrained within Lerchs-Grossman optimised pit shells that assume mining dilution & losses of 2.5%, 50-degree overall slope angles, mining costs of $2/t rock, general and administrative costs of $2/t rock, processing costs of US$15/t for processing using milling and cyanide leaching.
  • The portion of the Mineral Resources deemed to be amenable to extraction through underground methods are reported at a cut-off of 150 g/t silver equivalent. This assumes a mining cost of US$90/t, general and administrative costs of $2/t and a processing costs of US$15/t.

Past Work at Cachinal

The Cachinal deposit was mined from underground workings during the 20th century. Drilling by previous owners of the project since 2005 has delineated near-surface silver mineralization associated with a network of steeply dipping, north-to-northwest trending low-sulphide quartz veins.

The epithermal veins and breccias have been recognized by trenching and drilling over a strike length of at least 2 kilometers and are known to have been mined to a depth of at least 300meters. They range in thickness from a few centimetres to 2meters, reaching up to 20meters locally at the intersection of two structures. The main veins trend north-northwest and northwest with a secondary set trending east-northeast to east-west, best developed at the southern end of the deposit.

Technical information in this news release has been approved by Glen Cole, P.Geo., a Principal Consultant (Resource Geology) with SRK Consulting (Canada) Inc. and qualified person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Chad Williams

Director and Non-Executive Chair

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is positioning to be a top-tier silver company.

For more information, please visit our website above, or contact: 

Ms. Christina Slater:  cslater@honeybadgersilver.com

(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release.  The information in this news release and any other information herein that is not a historic fact may be “forward-looking information”. Forward-looking information are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects”, and similar expressions which are intended to identify forward-looking information as such. More particularly and without limitation, this news release contains forward-looking information concerning the proposed acquisition by the Company of the Cachinal Project, the proposed consideration and structure of such acquisition (including the mutual break fee payable in certain circumstances), and the ability of the parties thereto to complete the proposed transaction on the terms and timelines agreed.  Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including: risks relating to failing to negotiate the definitive documentation concerning the proposed acquisition of Cachinal on the terms expected or at all; risks relating to the potential payment of the break fee in certain circumstances; risks relating to inability to secure necessary third-party consents or regulatory or other governmental approvals on a timely basis, or at all; general political risks and risks relating to changing laws, risks inherent with uncertain economic conditions, among other risks and uncertainties. Accordingly, the reader is cautioned not to place undue reliance on any forward-looking information contained in this news release. The forward-looking information contained in this news release are made as of the date hereof, and the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


newspapers-folded-stacked-640x640-1.jpg

May 16, 20220

Toronto, Ontario – May 16, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that it has received a 10-year Class 3 Quartz Mining Land Use Approval (“Land Use Approval”) from the Yukon Government for its high-grade Plata Silver Property (“Plata”) located in east-central Yukon.

The Land Use Approval allows Honey Badger to perform ground exploration activities that allow for up to 300 diamond drill and 300 reverse circulation holes, each for a total length of 30,000 metres, significant trenching and bulk sampling, as well as road construction, as required, to define areas of mineralization on the property.

Chad Williams, Chairman of Honey Badger stated, “Plata has produced high-grade silver from small-scale mining in the past and currently hosts 32 showings(1), many of which have returned high-grade silver, lead and zinc values, from drilling and trenching. We are looking forward to unlocking the extraordinary potential we believe Plata possesses.”  

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer Cathro and qualified person for the purpose of National Instrument 43-101.

Notes: (1)Assessment Report Describing Compilation and Digitization of Historical Data of the Plata Property, prepared by Archer, Cathro & Associates (1981) Limited for Strategic Metals Ltd., J. Morton, P. Geo., June 2020

For more information, please visit our website above, or contact:

Christina Slater: cslater@honeybadgersilver.com

(647) 848-1009

https://honeybadgersilver.com

ON BEHALF OF THE BOARD

Chad Williams

Chairman and Director

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The Company is led by a highly- experienced leadership team with a track record of value creation, backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger is positioning to be a top-tier silver company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historical fact may be “forward-looking information”.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


news2-640x640-1.jpg

May 3, 20220

Toronto, Ontario – March 29, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce that it has acquired a 100% interest in the Clear Lake deposit in the Whitehorse Mining District of the Yukon, for a total consideration of $250,000 in cash, subject to a 1% net smelter return royalty (“NSR”) on all metals other than silver. The Clear Lake deposit is classified as a sedimentary-exhalative deposit (“SEDEX”) known to contain a significant amount of silver while representing an important source of zinc and lead.

Highlights

  • Historical inferred resource prepared by SRK Consulting in 2010 in accordance with National Instrument 43-101 (“NI 43-101”) of 5.5 million ounces of silver at 22 grams per tonne, in addition to 1.3 billion pounds of zinc grading 7.6% zinc and 185 million pounds of lead grading 1.08%(A)(B);
  • Highly accretive acquisition cost;
  • Property benefits from Class 3 Land Use Approval valid until 2029, which allows for up to 31,500 metres of diamond drilling and 2000 metres of reverse circulation drilling;
  • Good potential to confirm and possibly incrementally expand existing resources with diamond drilling and discovery of additional mineralization on the property.

Chad Williams, Chairman of Honey Badger stated, “The Clear Lake acquisition represents a milestone as we acquire, on an extremely value-accretive basis, a quality asset with in-situ silver resources in one of the best mining jurisdictions in the world, where we are currently active at our higher-grade Plata silver project. This acquisition demonstrates our stated strategy of identifying and executing highly accretive targeted silver acquisitions. Clear Lake not only provides our shareholders with exposure to silver resources but also offers the possibility of unlocking value from the significant zinc and lead endowment, which is not of primary interest to Honey Badger, in a royalty/stream spin-off or even potentially other innovative instruments, such as a commodity-linked non-fungible token (“NFT”) – watch for more news on this front.”

Rationale for the Clear Lake Acquisition and Strategic Options Moving Forward:

With the Clear Lake acquisition, Honey Badger acquires a historical resource of 5.5 million ounces of silver. The transaction marks an important step in the Company’s strategy of aggregating silver assets at various stages of development, to provide shareholders with maximum exposure to silver prices, and the Company remains very active evaluating assets as part of this ongoing strategy. In addition, the Clear Lake historical resource includes significant zinc and lead (1.3 billion pounds of zinc and 185 million pounds of lead). Honey Badger will be exploring various options for monetizing this historical base metal resource, including the possible sale of a stream or royalty on the zinc and/or lead, or other means. The historical resources were estimated by SRK for Copper Ridge Exploration Inc. and reported in an NI 43-101 technical report dated February 3, 2010 and was 43-101 compliant at the time of signing. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or reserves and the issuer is not treating the historical estimate as current mineral resources or reserves.

About the Clear Lake Deposit:

The Clear Lake deposit is classified as a SEDEX massive-sulphide zinc-lead-silver deposit. SEDEX deposits are known to contain a significant amount of silver while accounting for approximately 50% of the world’s current zinc and lead reserves.

The Clear Lake deposit hosts a historical NI 43-101 Inferred Resource prepared by SRK for Copper Ridge Exploration (A)(B), containing 7.76Mt @ 22 g/t silver, 7.6% zinc and 1.08% lead (Table 1).

 

Notes to Accompany the Clear Lake Inferred Resource Table:
(1) Mineral resources are historical in nature, they were estimated by SRK in February 2010 for Copper Ridge Exploration Inc.
(2) The Mineral Resources were classified in accordance with definitions provided by the Canadian Institute of Mining (“CIM”) as stipulated in
NI 43-101
(3) The resource estimate was based upon 63 drill holes totaling 13,168 metres of drilling
(4) The mineral resources are reported at a 4% (lead+zinc) cut-off.
(5) Lead grades were capped to 1.5% and silver grades were capped at 60 g/t.
(6) Grade values for Pb, Zn and Ag were interpolated into 12 metre by 12 metre by 9 metre blocks using ordinary kriging (OK).
(7) Density Model: All air block were assigned a value of zero, all waste blocks were assigned 2.7 t/m3 and all mineralized blocks were assigned 4.07 t/m3
(8) SRK applied a 2 metre minimum thickness requirement to all intersections used in the model; if a high grade interval was less than the minimum thickness the interval was not used to estimate the block model.

Clear Lake Mineralization and Geology:

The Clear Lake deposit occurs in Devonian- to Mississippian-aged Earn Group shale. Base metal mineralization at Clear Lake occurs in two discrete horizons. Firstly, in the massive sulphide-siliceous horizon, combined zinc-lead mineralization grading over 5% occurs in three elongate-shaped lenses, 5 to 30 metres thick and 450 metres in length that extend at least 300 metres down dip. A second tuff-barite horizon, 75 metres into the hanging wall of the deposit, has a number of intersections of greater than 10% zinc over widths of one to six metres. The deposit has potential for expansion at depth and along strike and SRK’s 2010 report recommends that an additional nine core holes totalling 1,500 metres be drilled to test the
lateral and vertical extent of the mineralization at Clear Lake

Property Size, Infrastructure and Access:

The Clear Lake property comprises 121 contiguous claims covering approximately 2,500 hectares, situated 65 kilometers east of Pelly Crossing, 90 kilometers northeast of Carmacks and 225 kilometers north of Whitehorse. A winter road links the property to the all-weather North Klondike Highway at Pelly Crossing, approximately 65 km to the west. The property lies on Category B Settlement Land within the Selkirk First Nations Traditional Territory.

The Clear Lake property has a Class 3 Land Use Approval valid until 2029, which allows for extensive diamond drilling, as well as clearing of airstrip and trail networks.

Past Exploration:

The bulk of the exploration work at Clear Lake was carried out by various mining syndicates and exploration companies from the mid-1970s to the early 1990s. During this period, the Clear Lake property was subject to several drilling campaigns, which has included a total of 18,219 metres of diamond drilling in 71 holes.

In addition to drilling, work included extensive bulldozer gridding, line cutting and mapping, numerous geophysics surveys (electromagnetic (“EM”), magnetometer and gravity surveys), soil sampling programs and overburden drilling programs targeting basal tills. This work led to the discovery of the main sulphide body at Clear Lake in 1978, by drilling a gravity anomaly coincident with magnetic and EM anomalies.

Copper Ridge Exploration Inc. who optioned the property in 2008, engaged Geotech Ltd. to complete a helicopter-borne VTEM survey and follow-up induced polarization and gravity surveys over a number of conductors identified by the VTEM survey. These targets were never drilled. Since 2008, two till and biogeochemical sampling surveys were completed in 2016 and 2018, by Darnley Bay Resources and Eastern Zinc Corp, respectively.

Figure 1: Historical drilling in relation to massive sulphide zone at surface, SRK Technical Report, 2010

Figure 2: Cross-Section of Clear Lake Deposit, SRK Technical Report, 2010

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

Notes:

(A) Clear Lake Lead-Zinc-Silver Deposit, Yukon, Prepared by SRK Consulting for Copper Ridge Exploration Inc., February 2010, Authors Gilles Arseneau, Ph.D., P. Geo., Donald G. MacIntyre, Ph.D., P. Eng., Reviewed by Gordon Doerksen, P. Eng
(B) The foregoing resource estimate is historical in nature. The historical estimate was not prepared by the Company. The Company considers the 2010 historical estimate to be relevant and reliable given the high quality of the historical estimate completed and the fact that the estimate was prepared in accordance with NI 43-101. The Company has not independently verified the resource estimate, and therefore, it cannot be relied upon as a current mineral resource for the Company.
(C) ZINC INVESTING, SEDEX Deposits: Right Economics to Supply Global Zinc Demand, Investing News Network, Apr. 05, 2018

ON BEHALF OF THE BOARD
Chad Williams
Chairman and Director

 

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is  positioning to be a top-tier silver company.

For more information, please visit our website above, or contact:
Ms. Christina Slater: cslater@honeybadgersilver.com
(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historic fact may be “forward-looking information”.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 


news1-640x640-1.jpg

May 3, 20220

Toronto, Ontario – March 10, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that it has engaged Archer, Cathro & Associates (1981) Limited (“Archer Cathro”) to complete a comprehensive 3D geological modeling study to develop and refine targets at its 100%-owned, 5,690 hectare Plata Silver Property (“Plata”) located in east-central Yukon. Recent analysis has revealed compelling target areas for follow-up and results of this work will be released in the coming weeks as interpretations are finalized.

This study was commissioned following the very encouraging results returned from the Company’s 2021 Field Program at Plata, which returned Keno Hill style high-grade silver-lead-zinc values from a number of prospects that were sampled and mapped (see below for highlights). Keno Hill, located 165 km west of the Plata Silver Property, is Canada’s second largest primary producer of silver with more than 200 million ounces of silver produced at an average grade of 44 ounces per ton (oz/t) between 1913 and 1989(1). In the first quarter of 2021, Alexco Resource Corp., who own and operate the majority of the historic Keno Hill silver district, recommenced concentrate production and shipments and are currently advancing Keno Hill to commercial production. Archer Cathro geologists have noted remarkable similarities between the Plata and Keno Hill districts.

Commenting on the study, Chairman Chad Williams stated, “Plata has produced high-grade silver from small-scale mining in the past and currently hosts 32 showings(2), many of which have returned high-grade silver, lead and zinc values, from drilling and trenching. My site visit to Plata last summer served to highlight the great potential of this property and we are delighted to be partnered with Archer Cathro, a highly regarded and sophisticated group of geoscientists that have had tremendous success in the Yukon over the past forty years. We look forward to leveraging their deep knowledge to identify the most prospective targets at Plata and in planning our Summer 2022 program.”

The 3D geological modeling study will incorporate historical drilling and channel sampling data, as well as soil geochemistry data and information derived from several iterations of geological and structural mapping conducted on the property. The objective of the program will be to obtain an improved understanding of structural and lithological controls on mineralization and identify and prioritize areas for follow-up work and drilling.

The following is a recap and highlights of the 2021 Plata Summer Work Program:

  • Assays received confirmed the presence of Keno Hill-style high-grade silver up to:
    • 16,887 g/t and 67.99% lead from a rock sample (float) at the P1 Zone, 4300 g/t, 22.00% zinc and 40% lead over 1.0 metre from a channel sample at the P2 Zone and 2,720 g/t, 72.63% lead from a rock sample (outcrop) at P26 Zones associated with Type I veins
    • 4,500 g/t silver, 26 g/t gold and 24.13% lead over 0.85 metres from the Aho Zone, which extends over 800 metres along strike, associated with Type II veins
    • 5,190 g/t, 24 g/t gold, 24.4% lead and 3.62% zincobtained from composite grab samples from approximately 90 historic ore bags.
  • The property hosts 32 hard rock showings that have seen minimal past exploration as well as eight strong multi-element soil anomalies suggesting additional zones along trend that have seen little to no follow-up work, which offer excellent potential for new discoveries.

For further details of the 2021 summer program, please see the Company’s news releases of December 13, 2021, January 18, 2022 and February 14, 2022 available on its website at www.honeybadgersilver.com.

Sampling Methodology

All analyses of rock samples from the 2021 program at Plata were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver.  Rock samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 33 other elements by four acid digestion with inductively coupled plasma-atomic emission spectroscopy analysis (ME-ICP61).  Samples that exceeded the detection limits of the routine methods were assayed for silver, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Pb/Zn – OG62).  Samples with greater than 30% lead were further analyzed by titration (Pb-VOL70).  Samples that exceeded the detection limits using Au-AA24 for gold and Ag-OG62 for silver were analyzed using fire assay and gravimetric finish techniques (Au-GRA22 and Ag-GRA21).  Silver samples that exceeded 10,000 ppm were further analyzed by fire assay and gravimetric finish (Ag-CON01).

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer Cathro and qualified person for the purpose of National Instrument 43-101.

Notes:

  • Cathro, R.C., 2006, Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory; Geoscience Canada, Vol.33, No.3, pp103-134.
  • Assessment Report Describing Compilation and Digitization of Historical Data of the Plata Property, prepared by Archer, Cathro & Associates (1981) Limited for Strategic Metals Ltd., J. Morton, P. Geo., June 2020

ON BEHALF OF THE BOARD

Chad Williams

Chairman and Director

 

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The Company is led by a highly- experienced leadership team with a track record of value creation, backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger is positioning to be a top-tier silver company.

https://honeybadgersilver.com

For more information, please visit our website above, or contact:

Christina Slater: cslater@honeybadgersilver.com

(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historical fact may be “forward-looking information”.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


newspapers-folded-stacked-640x640-1.jpg

March 30, 20220

Toronto, Ontario – March 29, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce that it has acquired a 100% interest in the Clear Lake deposit in the Whitehorse Mining District of the Yukon, for a total consideration of $250,000 in cash, subject to a 1% net smelter return royalty (“NSR”) on all metals other than silver.  The Clear Lake deposit is classified as a sedimentary-exhalative deposit (“SEDEX”) known to contain a significant amount of silver while representing an important source of zinc and lead.

Highlights:

  • Historical inferred resource prepared by SRK Consulting in 2010 in accordance with National Instrument 43-101 (“NI 43-101”) of 5.5 million ounces of silver at 22 grams per tonne, in addition to 1.3 billion pounds of zinc grading 7.6% zinc and 185 million      pounds of lead grading 1.08%(A)(B);
  • Highly accretive acquisition cost;
  • Property benefits from Class 3 Land Use Approval valid until 2029, which allows for up to 31,500 metres of diamond drilling and 2000 metres of reverse circulation drilling;
  • Good potential to confirm and possibly incrementally expand existing resources with diamond drilling and discovery of additional mineralization on the property.

Chad Williams, Chairman of Honey Badger stated, “The Clear Lake acquisition represents a milestone as we acquire, on an extremely value-accretive basis, a quality asset with in-situ silver resources in one of the best mining jurisdictions in the world, where we are currently active at our higher-grade Plata silver project. This acquisition demonstrates our stated strategy of identifying and executing highly accretive targeted silver acquisitions. Clear Lake not only provides our shareholders with exposure to silver resources but also offers the possibility of unlocking value from the significant zinc and lead endowment, which is not of primary interest to Honey Badger, in a royalty/stream spin-off or even potentially other innovative instruments, such as a commodity-linked non-fungible token (“NFT”) – watch for more news on this front.”

Rationale for the Clear Lake Acquisition and Strategic Options Moving Forward:

With the Clear Lake acquisition, Honey Badger acquires a historical resource of 5.5 million ounces of silver. The transaction marks an important step in the Company’s strategy of aggregating silver assets at various stages of development, to provide shareholders with maximum exposure to silver prices, and the Company remains very active evaluating assets as part of this ongoing strategy. In addition, the Clear Lake historical resource includes significant zinc and lead (1.3 billion pounds of zinc and 185 million pounds of lead). Honey Badger will be exploring various options for monetizing this historical base metal resource, including the possible sale of a stream or royalty on the zinc and/or lead, or other means.

The historical resources were estimated by SRK for Copper Ridge Exploration Inc. and reported in an NI 43-101 technical report dated February 3, 2010 and was 43-101 compliant at the time of signing. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or reserves and the issuer is not treating the historical estimate as current mineral resources or reserves.

About the Clear Lake Deposit:

The Clear Lake deposit is classified as a SEDEX massive-sulphide zinc-lead-silver deposit. SEDEX deposits are known to contain a significant amount of silver while accounting for approximately 50% of the world’s current zinc and lead reserves(C).

The Clear Lake deposit hosts a historical NI 43-101 Inferred Resource prepared by SRK for Copper Ridge Exploration (A)(B), containing 7.76Mt @ 22 g/t silver, 7.6% zinc and 1.08% lead (Table 1).

Table 1: Summary of Clear Lake Historical Inferred Resource Estimate, SRK Technical Report, 2010(1)

Tonnes

Millions

Ag

(g/t)

Zn

(%)

Pb

(%)

Ag

(Moz)

Zn

(Mlbs)

Pb

(Mlbs)

7.76 22g/t Ag 7.6% 1.08% 5.5 1,300 185

 

Notes to Accompany the Clear Lake Inferred Resource Table:

  • Mineral resources are historical in nature, they were estimated by SRK in February 2010 for Copper Ridge Exploration Inc.
  • The Mineral Resources were classified in accordance with definitions provided by the Canadian Institute of Mining (“CIM”) as stipulated in NI 43-101
  • The resource estimate was based upon 63 drill holes totaling 13,168 metres of drilling
  • The mineral resources are reported at a 4% (lead+zinc) cut-off.
  • Lead grades were capped to 1.5% and silver grades were capped at 60 g/t.
  • Grade values for Pb, Zn and Ag were interpolated into 12 metre by 12 metre by 9 metre blocks using ordinary kriging (OK).
  • Density Model: All air block were assigned a value of zero, all waste blocks were assigned 2.7 t/m3 and all mineralized blocks were assigned 4.07 t/m3
  • SRK applied a 2 metre minimum thickness requirement to all intersections used in the model; if a high grade interval was less than the minimum thickness the interval was not used to estimate the block model

Clear Lake Mineralization and Geology:

The Clear Lake deposit occurs in Devonian- to Mississippian-aged Earn Group shale.

Base metal mineralization at Clear Lake occurs in two discrete horizons. Firstly, in the massive sulphide-siliceous horizon, combined zinc-lead mineralization grading over 5% occurs in three elongate-shaped lenses, 5 to 30 metres thick and 450 metres in length that extend at least 300 metres down dip. A second tuff-barite horizon, 75 metres into the hanging wall of the deposit, has a number of intersections of greater than 10% zinc over widths of one to six metres.

The deposit has potential for expansion at depth and along strike and SRK’s 2010 report recommends that an additional nine core holes totalling 1,500 metres be drilled to test the lateral and vertical extent of the mineralization at Clear Lake (A).

Property Size, Infrastructure and Access:

The Clear Lake property comprises 121 contiguous claims covering approximately 2,500 hectares, situated 65 kilometers east of Pelly Crossing, 90 kilometers northeast of Carmacks and 225 kilometers north of Whitehorse. A winter road links the property to the all-weather North Klondike Highway at Pelly Crossing, approximately 65 km to the west. The property lies on Category B Settlement Land within the Selkirk First Nations Traditional Territory.

The Clear Lake property has a Class 3 Land Use Approval valid until 2029, which allows for extensive diamond drilling, as well as clearing of airstrip and trail networks.

Past Exploration:

The bulk of the exploration work at Clear Lake was carried out by various mining syndicates and exploration companies from the mid-1970s to the early 1990s. During this period, the Clear Lake property was subject to several drilling campaigns, which has included a total of 18,219 metres of diamond drilling in 71 holes.

In addition to drilling, work included extensive bulldozer gridding, line cutting and mapping, numerous geophysics surveys (electromagnetic (“EM”), magnetometer and gravity surveys), soil sampling programs and overburden drilling programs targeting basal tills. This work led to the discovery of the main sulphide body at Clear Lake in 1978, by drilling a gravity anomaly coincident with magnetic and EM anomalies.

Copper Ridge Exploration Inc. who optioned the property in 2008, engaged Geotech Ltd. to complete a helicopter-borne VTEM survey and follow-up induced polarization and gravity surveys over a number of conductors identified by the VTEM survey. These targets were never drilled.  Since 2008, two till and biogeochemical sampling surveys were completed in 2016 and 2018, by Darnley Bay Resources and Eastern Zinc Corp, respectively.

Figure 1: Historical drilling in relation to massive sulphide zone at surface, SRK Technical Report, 2010(A)

Figure 2: Cross-Section of Clear Lake Deposit, SRK Technical Report, 2010(A)

 

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

Notes:

(A) Clear Lake Lead-Zinc-Silver Deposit, Yukon, Prepared by SRK Consulting for Copper Ridge Exploration Inc., February 2010, Authors Gilles Arseneau, Ph.D., P. Geo., Donald G. MacIntyre, Ph.D., P. Eng., Reviewed by Gordon Doerksen, P. Eng

(B) The foregoing resource estimate is historical in nature. The historical estimate was not prepared by the Company. The Company considers the 2010 historical estimate to be relevant and reliable given the high quality of the historical estimate completed and the fact that the estimate was prepared in accordance with NI 43-101. The Company has not independently verified the resource estimate, and therefore, it cannot be relied upon as a current mineral resource for the Company.

(C) ZINC INVESTING, SEDEX Deposits: Right Economics to Supply Global Zinc Demand, Investing News Network, Apr. 05, 2018

 

ON BEHALF OF THE BOARD

Chad Williams

Chairman and Director

 

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is positioning to be a top-tier silver company.

 

For more information, please visit our website above, or contact:

Ms. Christina Slater:  cslater@honeybadgersilver.com

(647) 848-1009

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release.  The information in this news release and any other information herein that is not a historic fact may be “forward-looking information”.

 

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 


news2-640x640-1.jpg

February 14, 20220

Toronto, Ontario – February 9, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce the third batch of channel, chip and rock sample analyses from the 2021 field program at its 100%-owned, 5,690 hectare Plata Silver Property (“Plata”) located in east-central Yukon.

Highlights of silver, lead and zinc assays from trench and chip sampling at the P2 Zone are listed below:

  • 4,300 g/t silver, 46.4% lead and 22% zinc over 1.0 metre
  • 1,775 g/t silver, 48.78% lead and 13.35% zinc over 1.2 metres
  • 1,140 g/t silver, 24.16% lead and 16.41% zinc over 2.49 metres
  • 12,806 g/t silver, 76.08% lead and 3.70% zinc over 0.10 metre

Highlights of silver, gold, lead and zinc assays from rock samples collected from outcrop and float material
at the P1, P6 and P26 Zones are listed below:

  • P1 Zone: 16,887 g/t silver, 0.18 g/t gold, 67.99% lead and 0.83% zinc (float)
  • P6 Zone: 7,950 g/t silver, 1.55 g/t gold, 57.66% lead and 0.99% zinc (outcrop)
  • P6 Zone: 4,510 g/t silver, 6.91 g/t gold, 25.73% lead and 2.05% zinc (float)
  • P26 Zone: 2,720 g/t silver, 0.32 g/t gold, 72.63% lead and 0.43% zinc (outcrop)

These latest results, in conjunction with the first two batches of assay results previously reported confirm:

  • high-grade silver in Type I veins at the P1, P2 and P26 Zones, and
  • high-grade gold-bearing silver in Type II veins at the Aho and P6 Zones,
  • very high-grade silver and gold was mined by historic miners

Chad Williams, Chairman of Honey Badger commented, “Results of our 2021 mapping and sampling program at Plata have exceeded expectations. They confirm the occurrence of extremely high-grade silver over an extensive area, associated with two distinct mineralizing events. We believe the potential for development of silver resources and further discoveries at Plata is excellent.” Plata lies within the Tintina Gold Belt and displays numerous similarities to the world-class Keno Hill Mining Camp, Canada’s second largest primary producer of silver, located 165 km west of the Plata Silver Property. Keno Hill produced more than 200 million ounces of silver at an average grade of 44 ounces per ton (oz/t) of silver from approximately thirty-five vein deposits between 1913 and 1989(1).

Honey Badger is planning an upcoming follow-up 2022 program at Plata with consulting firm Archer, Cathro & Associates (1981) Limited (“Archer Cathro”) and will provide an update once details are finalized.

Channel, Chip and Outcrop Sampling Results from the P1, P2, P6 and P26 Zones

Results were returned from the P1, P2 and P6 zones located in the core of the property and the P26 zone located 600 metres north of the core area (Figure 1). Mineralization at the P1, P2 and P26 zones is hosted within argentiferous Type I veins observed cross-cutting earlier-formed Type II veins which are typically more gold-enriched (see January 18, 2022 press release). Type II veins have thus far been observed in the Aho zone (P3 and P4 zones), developed within the plane of the Plata Thrust Fault, extending intermittently over a strike length of 800 metres, and the P6 zone, whereas Type I veins occur throughout the property

P1 Zone

The P1 zone is hosted within a Type-1 vein fault that has been traced on surface for 100 metres along strike. The zone was mined briefly in 1976 (thirty-two tonnes of ore grading 10,285 g/t silver)and in 1984 (nine tonnes of ore grading 6,857 g/t silver) (2). No in situ material was observed at the P1 zone during the 2021 program. However, one rock sample from float material was collected from the zone and it returned 16,887 g/t silver, 0.18 g/t gold, 67.99% lead and 0.83% zinc.

P2 Zone

The P-2 vein is located in the hanging wall of the Plata Thrust Fault on the southeast slope of Plata Mountain. Surface mining operations at the P-2 vein produced 7,387 kg of silver – the most recovered from any showing on the Plata property. The vein is hosted in a structure that is oriented at 030°/70°W and which has been traced for 105 metres along strike(2). Assay results from seven channel samples, three chip and four rock samples taken from the P2 zone are tabulated below:

Table 1: Channel, Chip and Rock sampling results from the P2 Zone at Plata

Zone Type Length (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
P2 Channel 2.49 0.07 1,140 24.16 16.41
P2 Channel 2.10 0.04 205 3.32 14.52
P2 Channel 1.20 0.03 1,775 48.78 13.35
P2 Channel 1.52 0.04 1,263 42.08 18.28
P2 Channel 1.40 0.05 806 26.53 6.21
P2 Channel 1.65 0.01 1,226 18.40 16.50
P2 Channel 1.62 0.19 606 25.22 13.15
             
P2 Chip 1.00 0.10 4,300 46.40 22.00
P2 Chip 1.20 0.04 343 14.65 39.00
P2 Chip 0.10 0.12 12,806 69.20 1.63
             
P2 Rock-outcrop   0.08 1,470 53.64 5.71
P2 Rock-outcrop   0.025 1,480 58.19 3.94
P2 Rock-outcrop   0.08 2,260 76.08 3.70
             
P2 Rock-float   0.04 1,645 69.38 1.02

P6 Zone

Two rock samples were collected from outcrop and float material within a historic trench at the P6 zone, during the 2021 program. Assays from both samples returned ore-grade gold values, in addition to high – grade silver and lead (see Table 2 below). Drilling in 2011 confirmed the continuity of significant polymetallic silver mineralization at depth and laterally over a strike length of 150 metres at the P6 Zone. Highlight drill intercepts include 1.0 metre grading 1,655 grams per tonne silver, 0.46 ppm gold, 0.25% lead and 1.09% zinc. Veining mapped at surface and anomalous soil geochemistry suggest the P6 structure may extend for 500 metres to the northwest.

P26 Zone

A rock sample from a 4 cm wide massive galena and siderite vein exposed in an outcrop at the P26 Zone returned 2,720 g/t silver, 0.32 g/t gold, 72.63% lead and 0.43% zinc. This sample confirms the presence of high-grade silver mineralization in the P26 zone, where historical high-grade bulk sampling reportedly returned grades up to 2,480 g/t silver and 84.61% lead from a 1.5 metre wide vein of massive galena and siderite.

Plata 2021 Program Summary:

Honey Badger is very encouraged by the results of its 2021 Phase 1 Summer Work Program at Plata. The first batch of assay results reported confirmed that historic miners successfully extracted very high-grade silver and gold (see December 13, 2021 press release). Assays subsequently received, confirmed the presence of high-grade:

  • silver at the P1, P2 and P26 Zones associated with Type I veins (reported in this press release) and
  • silver and gold at the P3 and P4 zones (collectively the Aho Zone) and the P6 Zone, associated with Type II veins (reported in January 18, 2022, press release).

Importantly, Archer Cathro geologists have noted remarkable similarities between the Plata and Keno Hill districts. Both districts are hosted within Selwyn basin stratigraphy adjacent to Early Cretaceous thrust faults and have large Mayo suite intrusions within 10 km of mineralization. Furthermore, the early gold bearing silver veins reported at Keno Hill closely resemble the Type II veins identified at Plata, characterized as fault veins dominated by quartz gangue with elevated arsenic and antimony. And in both districts, these early-stage gold bearing silver veins are cross-cut by high-grade silver, lead and zinc mineralization (i.e. Type I veins) associated with elevated antimony, sulphur and cadmium, hosted within northeast oriented extensional faults.

Figure 2: Maps comparing geological and structural similarities between the Keno Hill and Plata silver districts

 

Next Steps

The results of Honey Badger’s 2021 Phase 1 Summer Work Program have been integrated with the large database of historic data available at Plata. While desktop evaluation is ongoing, preliminary analysis has identified a number of compelling targets for follow-up work. Honey Badger is planning an upcoming follow-up 2022 program at Plata with Archer Cathro and will provide an update once details are finalized.

Sampling Methodology

All analyses of rock samples from the 2021 program at Plata were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Rock samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 33 other elements by four acid digestion with inductively coupled plasma-atomic emission spectroscopy analysis (ME-ICP61). Samples that exceeded the detection limits of the routine methods were assayed for silver, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Pb/Zn – OG62). Samples with greater than 30% lead were further analyzed by titration (Pb-VOL70). Samples that exceeded the detection
limits using Au-AA24 for gold and Ag-OG62 for silver were analyzed using fire assay and gravimetric finish techniques (Au-GRA22 and Ag-GRA21). Silver samples that exceeded 10,000 ppm were further analyzed by fire assay and gravimetric finish (Ag-CON01).

Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer Cathro and qualified person for the purpose of National Instrument 43-101

Notes:
(1) Cathro, R.C., 2006, Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory; Geoscience Canada, Vol.33, No.3, pp103-134.
(2) Assessment Report Describing Compilation And Digitization of Historical Data of the Plata Property, prepared by Archer, Cathr.

ON BEHALF OF THE BOARD
Chad Williams
Chairman and Director

About Honey Badger Silver Inc.
Honey Badger Silver is a Canadian silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The Company is led by a highly experienced leadership team with a track record of value creation, backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger is positioning to be a top-tier silver company.

https://honeybadgersilver.com

For more information, please visit our website above, or contact:
Christina Slater: cslater@honeybadgersilver.com
(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historical fact may be “forward-looking information”.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


news1-640x640-1.jpg

January 18, 20220

Toronto, Ontario – January 18, 2022 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce further results of rock and soil geochemical analyses from its 100%-owned, 5,690-hectare Plata Silver Property (“Plata”) located in east-central Yukon.

Highlights of silver, gold, lead and zinc assays from five channel and chip samples collected from the Aho zone at Plata are listed below:

          4,500 g/t silver, 7.26 g/t gold, 24.13% lead, 0.83% zinc over 0.85 metres;
          3,480 g/t silver, 4.63 g/t gold, 23.79% lead, 2.05% zinc over 1.6 metres;
          1,546 g/t silver, 3.28 g/t gold, 5.04% lead, 0.09% zinc over 1.45 metres;
          868 g/t silver, 5.30 g/t gold, 7.47% lead, 1.95% zinc over 1.93 metres; and
          202 g/t silver, 3.69 g/t gold, 1.12% lead, 10.1% zinc over 1.32 metres.

In addition, gold assays have been received for five composite grab samples of hand sorted material collected from 90 ore bags left behind by historic miners at Plata. These are reported below in conjunction with silver, lead and zinc assays previously reported by the Company on December 13, 2021:

          4.25 g/t gold, 5,190 g/t silver, 23.4% lead and 3.62% zinc;
          7.56 g/t gold, 4,820 g/t silver, 13.15% lead and 2.78% zinc;
          6.24 g/t gold, 4,000 g/t silver, 20.97% lead and 3.41 g/t zinc;
          2.67 g/t gold, 3,500 g/t silver, 17.5% lead and 3.07% zinc; and
          5.61 g/t gold, 2,930 g/t silver, 10.5% lead and 2.26% zinc.

Plata lies within the Tintina Gold Belt and displays numerous similarities to the world-class Keno Hill Mining Camp, Canada’s second largest primary producer of silver, located 165 km west of the Plata Silver Property. Keno Hill produced more than 200 million ounces of silver at an average grade of 44 ounces per ton (oz/t) of silver from approximately thirty-five vein deposits between 1913 and 1989 (1).

Chad Williams, Executive Chairman of Honey Badger commented,

    “These results are significant in that:

  • They confirm that Plata has similar high-grade, early-stage, gold enriched silver veins as found in the Keno Hill District, one of Canada’s most prolific silver camps; and.
  • Plata is considerably under-explored when compared to Keno Hill.

We believe the potential to develop existing targets is very promising as is the potential for making new high-grade silver discoveries”.

Sampling results from the P2 and P6 zones are pending and will be released when analyses are finalized.

2021 PLATA PHASE 1 WORK PROGRAM

Honey Badger’s 2021 program comprised detailed structural and lithological mapping of the core region of the property, accompanied by rock and channel sampling of several historical occurrences (the P2, P3, P4 and P6 zones in particular) and soil geochemical sampling. In addition, composite grab samples were also collected from about 90 large ore bags of hand-sorted mineralization that were cached at the Plata airstrip by historical miners, in order to determine the approximate grade of the mined material (see press release dated December 13, 2021, for results).

Channel, Chip and Outcrop Sampling Results from Aho Zon

Analyses of channel, chip and outcrop samples from the P3 and P4 zones, collectively known as the Aho zone, have returned highly significant silver, gold, lead and zinc results. Channel samples were cut using a gas-powered rock saw and were taken from channels that were 8 to 10 cm wide and 6 to 10 cm deep. Channels were cut perpendicular to the mineralized zone and represent true widths. Where channel sampling was not possible (soft rock or clay) chip samples were taken.
In all, a total of 16 channel and chip samples were collected at the Aho zone, as well as rock samples from outcrop. All of these samples returned elevated values for gold, silver, lead and zinc.

Channel and chip sample highlights from the Aho zone include:
4,500 g/t silver, 7.26 g/t gold, 24.13% lead, 0.83% zinc over 0.85 metres;
          3,480 g/t silver, 4.63 g/t gold, 23.79% lead, 2.05% zinc over 1.6 metres;
          1,546 g/t silver, 3.28 g/t gold, 5.04% lead, 0.09% zinc over 1.45 metres;
          868 g/t silver, 5.30 g/t gold, 7.47% lead, 1.95% zinc over 1.93 metres; and
          202 g/t silver, 3.69 g/t gold, 1.12% lead, 10.1% zinc over 1.32 metres.

Rock samples from outcrops at the Aho zone, returned:
4,260 g/t silver, 27.4 g/t gold, 9.72% lead, 0.12% zinc;
          3,500 g/t silver, 2.27 g/t gold, 26.89% lead, 3.17% zinc; and
          1,030 g/t silver, 4.92 g/t gold, 12.9% lead, 5.66% zinc

The Aho zone is dominated by Type II veins where significant gold endowment accompanies high-grade silver mineralization.  Veins are hosted within the Plata thrust and range in width from 0.3 to 3 metres and have very consistent lateral extents.  The zone has been traced for at least 800 metres along-strike, confirmed by excavator trenching, and has been intersected by historical drill holes up to 500 m down dip.   Veins are characterized by massive to semi-massive sulphide pods and layers within quartz and clay.  In 1987, approximately 37 tonnes of material that was mined from the P4 zone reportedly averaged 3,531 g/t silver and 5.73 g/t gold(2).  Much of this material was transported to the airstrip but never shipped.  Composite sampling of these ore bags in 2021 returned high-grade silver and lead with moderate zinc values (see press release dated December 13, 2021).  Gold assays for these samples have since been received and are tabulated below.

Type Au (g/t) Ag (g/t) Pb (%) Zn (%)
Composite 4.25 5,190 23.4 3.62
Composite 7.56 4,820 13.15 2.78
Composite 6.24 4,000 20.97 3.41
Composite 2.67 3,500 17.5 3.07
Composite 5.61 2,930 10.5 3.07

 

Soil Geochemistry and Results of Plata 2021 Soil Sampling Program

Historical soil geochemistry data covers only the central portion of the Plata property with the majority of the samples taken in the 1970s and subsequent samples taken in 2008 and 2009.  Some of the historical data comprises only silver and lead results, and none of the historical analyses included gold.   Surprisingly, the historical data did not identify anomalous silver-in-soil values over the P1, P3, P4 or P5 zones, areas of substantiated high-grade mineralization.  This may be due to the analytical technique used in the 1970s because these areas are marked by high lead values.  Significantly, strong multi-element anomalies that occur elsewhere on the property have seen little to no follow-up work, including anomalies V, VI and IX all of which have strongly anomalous silver, lead and zinc values.  These anomalies offer excellent potential for new discoveries.

In 2021, a total of 260 soil samples were taken from a small grid to the west along trend of the P2 and Aho zones.  The new soil results discovered another multi-element anomaly (VIII) that includes moderate to strongly elevated values for silver and zinc with moderate lead results.  This anomaly also includes highly elevated values for gold, which suggests there is potential in this area for Type II mineralization similar to that at the Aho zone.

All analyses of rock and soil samples from the 2021 Plata program were performed by ALS Global Laboratories with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Rock samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 33 other elements by four acid digestion with inductively coupled plasma-atomic emission spectroscopy analysis (ME-ICP61). Samples that exceeded the detection limits of the routine methods were assayed for silver, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Pb/Zn – OG62) and samples that exceeded the detection limits for gold by gravimetric analysis (Au-GRA22). Soil samples were analyzed for 35 elements using an aqua regia digestion (ME-ICP41) with gold by fire assay followed by inductively coupled plasma-atomic emission spectroscopy (Au-ICP21).
Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

Notes:
1Cathro, R.C., 2006, Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory; Geoscience Canada, Vol.33, No.3, pp103-134.
2 Stewart, E.B., 2001, Valuation Report, Plata-Inca Property, Hess River Area; report for Big Blackfoot Resources Ltd., p 20.

ON BEHALF OF THE BOARD

Chad Williams
Executive Chairman and Director

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is positioning to be a top-tier silver company.

For more information, please visit our website above, or contact:
Ms. Christina Slater: cslater@honeybadgersilver.com
(647) 848-1009

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historical fact may be “forward-looking information”.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


OUR

Headquarters

2704-401 Bay Street, P.O. Box 4

Toronto, Ontario, M5H 2Y4

(647) 249-9301

www.honeybadgersilver.com

GET IN TOUCH

Follow Our Activity