Private Placement With Significant Participation by Mr. Eric Sprott and Management

Toronto, Ontario – February 18, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce a non-brokered private placement financing of up to 42.86 million units at $0.07 per unit (“Unit”) for gross proceeds of up to $3,000,000 (the “Offering”).  Each Unit will consist of one common share of Honey Badger Silver and one half of one common share purchase warrant (each whole warrant, a “Warrant”).  Each whole Warrant will entitle the holder to acquire one additional common share of Honey Badger Silver at an exercise price of $0.10 for a period of three years from the date of closing of the Offering.

Mr. Eric Sprott has confirmed his intention to subscribe for 14.29 million Units in the Offering for total gross proceeds to the Company of $1,000,000.  This would bring his total ownership in Honey Badger Silver to approximately 12% on an undiluted basis.

Chad Williams, Chairman of Honey Badger Silver, intends to subscribe for 21.43 million Units for total gross proceeds to the Company of $1,500,000.  This would bring his total ownership in Honey Badger Silver to approximately 25% on an undiluted basis.

The net proceeds from the financing will be used to advance exploration work on the Company’s Thunder Bay Silver portfolio and for general working capital purposes.

The Offering is expected to close on or about March 12, 2021 concurrently with the execution of the definitive agreement relating to the acquisition of the Hy, Groundhog and Plata properties from Strategic Metals Inc. (see February 11, 2021 news release for more details).  The Offering is conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the closing date of the Offering in accordance with applicable securities laws.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information, please visit our new website at https://www.honeybadgersilver.com.

Or contact:  Ms. Christina Slater at [email protected].

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

About Honey Badger Silver Inc.

Honey Badger Silver is a mineral exploration company headquartered in Toronto, Ontario, Canada with properties in Quebec and Ontario including an expansive interest in the Thunder Bay Cobalt-Silver District.  In addition, the Company has a binding letter of intent over three silver properties in southeast and south-central Yukon (see news release dated February 11, 2021 for more details).  The Company’s common shares trade on the TSX Venture Exchange under the symbol “TUF”.

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 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.

Toronto, Ontario – February 11, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has signed a binding letter of intent (the “LOI”) with Strategic Metals Ltd. (“Strategic Metals”; TSX-V: SMD) to acquire a 100% interest in the following three silver-focused advanced properties located in the Yukon Territory, Canada:

(1) Plata: analogous geology to prolific Keno Hill silver district in the Yukon,

(2) Groundhog: higher-grade silver values reported, and

(3) Hy: demonstrated potential for high-grade silver.

“These property acquisitions have the potential to provide substantial silver upside on a per-share basis for our shareholders”, said Chad Williams, Chairman of Honey Badger. “Each of these three properties offers as much as or greater exploration upside than our current Thunder Bay portfolio which is itself very prospective for higher-grade silver.”

Ed Thorose (VP Corporate Development) and I have extensive experience in the Yukon gained during our time at Victoria Gold Corp. (TSX: VGCX). The Yukon is a great place to work given its rich mining history and substantial untapped mineral endowment. In addition, we are very pleased to partner with Strategic Metals and Archer, Cathro & Associates (1981) Limited, well-recognized as quality leaders in Yukon exploration.

Each of these properties has a very low holding cost, is at a stage where they can be advanced for relatively low amounts of money, and is located near major historical silver camps or workings” said Mr. Williams. “With the acquisition of these properties, we are executing on our goal of becoming one of the preeminent pure play silver investment vehicles with leverage to a growing and diversified portfolio of top tier silver assets”.

The Properties

Plata – Plata lies within the Tintina Gold Belt and displays many similarities to the Keno Hill Silver Camp located about 180 km to the west.  The Keno Hill Silver Camp is Canada’s second largest primary producer of silver with production from approximately thirty-five vein deposits between 1913 and 1989.  A reported 2,041 tonnes of hand sorted material were shipped from high grade veins on the Plata property to a smelter, yielding about 9,020 kg (290,000 ounces) of silver; this equates to a recovered silver grade of approximately 4,420 grams per tonne (g/t) silver (Turner, 2009).

Groundhog – Silver mineralization was first discovered in the road-accessible Groundhog area in 1956. Since that time over one hundred showings have been discovered in the district by various operators.  One of these showings was bulk sampled in 1988 and 1995. This work resulted in the removal of 52.5 tonnes grading approximately 3,800 g/t silver. A rock sample from the property returned 11,663.5 g/t silver (Kammerer and Turner, 2010).

Hy – The road accessible Hy property covers many silver occurrences that were first discovered on the property in 1964.  Three mineralized zones were the primary focus of past exploration with the areas between them essentially unexplored.  Bulldozer trenching uncovered a chip sample that yielded 370.3 g/t silver over 3.2 metres (Mitchell, 2015).

Additional details about these properties can be found on the Strategic Metals website (http://www.strategicmetalsltd.com)

LOI Terms

In consideration for a 100% interest in the Properties, Honey Badger has agreed to issue to Strategic Metals common shares in the capital of Honey Badger equal to 19.9% of the issued and outstanding common shares of the Company, and grant to Strategic Metals the right to participate on the same commercial terms as other investors in three equity financings undertaken by the Company such that Strategic’s shareholding in Honey Badger upon the closing of such financings will be equal to its Honey Badger shareholding prior to the equity financings. Strategic Metals will retain a 2% net smelter royalty on minerals other than silver.

The transaction is expected to close on or before April 30, 2021.

The Management of Honey Badger intends to participate in at least 50% of a $3 million contemplated concurrent financing subject to terms defined in the Definitive Agreement which is anticipated to be completed prior to March 12, 2021.

Other

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

References:

Kammerer, M. and Turner, M., 2010.  Assessment Report Describing Geological Mapping, Prospecting, Hand Trenching and Geochemical Sampling at the Groundhog Property; Assessment Report 095171.

Mitchell, A., 2015.  Geochemical Sampling, Prospecting, Geological Mapping and Ground Surveys at the Hy Property; Assessment Report 096789.

Turner, M., 2009.  Assessment Report Describing Diamond Drilling, Excavator Trenching, Geochemical Sampling and Prospecting at the Plata Project; Assessment Report 095669.

About Honey Badger Silver Inc.

Honey Badger is a mineral exploration company headquartered in Toronto, Ontario, Canada with properties in Quebec and Ontario including an expansive interest in the Thunder Bay Cobalt-Silver District.  In addition, the Company has a binding letter of intent over three silver properties in southeast and south-central Yukon.  The Company’s common shares trade on the TSX Venture Exchange under the symbol “TUF”.

For more information, please visit our new website at https://www.honeybadgersilver.com.

Or contact:  Ms. Christina Slater at [email protected].

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

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

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. 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.

Toronto, Ontario – February 1, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to provide a message to shareholders from the Chairman and Interim CEO, Mr. Chad Williams regarding the Company’s recent progress and plans to create value for shareholders in 2021 and beyond.

“2020 was a transition year for the Company,” said Chad Williams. “We gained a complete new Board and management team. An equity offering was completed bringing new and notable investors to the Company. The Company further added to its dominant land position in the prolific Thunder Bay Silver District: our property portfolio now consists of 959 claims and 7 mining patents covering 12 past-producing, high-grade silver mines with aggregate historic production of 1.7 million ounces of silver encompassing approximately 20,000 hectares of ground (Figure 1).  We even added ‘Silver’ to our name to make sure our focus was unambiguous. As the owner of over 20% of the shares of TUF (fully diluted basis), I am very proud to state that the Company has never been better positioned to benefit from its substantial land position in what is a high-grade silver district that remains largely unexplored by modern exploration techniques.”

2021 Outlook

The Company has a two-pronged approach to add exposure to silver ounces on an accretive per-share basis:

• finding additional silver resources on our existing properties by applying conventional and innovative mineral deposit targeting tools to its existing silver-rich claims in the Thunder Bay district.
• by acquiring other assets in silver-rich districts around the world. Well over 30 such targets — appropriate in scale and scope for the company at the current time — have been reviewed in detail by your management team over the past few months. Like every mining company, our inability to visit certain mineral properties has slowed our progress somewhat but management remains convinced that a substantive and accretive acquisition can be announced in the very near term.

Honey Badger’s Historic Silver Advantage

The Company’s Thunder Bay Silver Project is located a short 20-minute drive from the City of Thunder Bay which serves as a hub for much of the mining and mineral exploration in northwestern Ontario.

The Thunder Bay Silver District is a prime setting for high-grade polymetallic silver (as well as cobalt, gold, zinc and lead) mineralization. Bonanza-grade silver veins were discovered in the 1840’s and over five million ounces of silver were produced up to 1900s when the price of silver crashed. Importantly, the district has geologic similarities to the world-class Cobalt Silver Camp in north-eastern Ontario, one of the most productive silver districts in the world with 442 million ounces of silver produced. Despite these similarities, since mining activities ceased in the late 1800’s, the Thunder Bay Silver District remains largely unexplored by modern exploration techniques.

A small and isolated diamond drilling program completed in the 1960s by Arjon Gold Mines Ltd. down-plunge of historic workings at the Beaver Mine, returned 1,239 g/t Ag over 1 metre (Arjon Gold Mines Ltd., 1963, Work Report No. 12, AFRI 52A05SE0027, 11p.). The Beaver Silver Mine is the third largest silver mine in the district which produced 500,000 ounces of silver at an average grade of 0.26% silver.  (Szetu, 1969)

Additional high-grade silver intercepts returned from Honey Badger’s 2018-2019 drill program at the historic Beaver vein workings, which remain open down plunge include:

• BM-18-004: 921 g/t Ag over 1.4 m (new vein)
• BM-18-006: 682 g/t Ag over 2.4 m, including 1,254 g/t Ag over 1. 2m
• BM-19-014: 1,004 g/t Ag over 4.0 m (new vein) including 1,674 g/t Ag over 2.4 m
• Hole BM-19-014 also intersected a second silver-bearing vein that returned 69.2 g/t silver over 1.8 m indicating likelihood of more silver veins in the vicinity of the Beaver Mine

Lateral extensions of a number of additional historic mine workings remain to be tested at the Beaver Silver Property, including the Stewardson Mine, Elgin Mine and Black Fox Mine.

About Honey Badger Silver Inc.

Honey Badger is a mineral exploration company headquartered in Toronto, Ontario, Canada with properties in Quebec and Ontario including an expansive interest in the Thunder Bay Cobalt-Silver Project. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TUF”.

For more information, please visit our website at http:// http://www.honeybadgerexp.com/ – .

Or contact:  Ms. Christina Slater at [email protected].

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

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

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. 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.