Toronto, Ontario, July 30, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to provide an update on its ongoing work program at its 100%-owned Plata project in the Yukon.

The Company’s Executive Chairman, Chad Williams, commented, “We have discovered multiple different occurrences at surface of sheeted quartz veins in areas extending from the southern end of our property to its northwestern end some 18 km apart.  These may indicate the presence of reduced intrusion-related systems. These systems, if they contain gold, are associated with some of the largest gold deposits in the world. Snowline Gold’s (TSXV: SGD) Rogue project is such a deposit and contains 7.94 million ounces of gold Measured and Indicated at a grade of 1.21 g/t Au and an additional 0.89 million ounces of gold Inferred at a grade of 0.62 g/t Au (see SGD news release dated May 15, 2025). As can be seen in Figure 1, Plata is located adjacent to Snowline’s land position. Please refer to the fresh pictures attached to this release, which can also be found on the website www.honeybadgersilver.com. They are very compelling. Assays from these new zones are pending.”

Current Work Program

The current program is focused on geologic mapping and sampling of new targets as discussed in a news release dated June 12, 2025 (“Honey Badger’s Work Outlines New High-Grade and Rogue-Like targets at the Plata Project”) as well as on evaluating the exciting new targets overlain by the new claims staked by the Company (see news release dated July 21, 2025, “Honey Badger Expands Land Position at Plata by 26% Based on Newly Defined Targets”.

We have collected 369 soil and 66 rock samples (as of July 28).  In addition to the sheeted veins described in more detail below, significant findings include both mafic and felsic intrusive rocks in outcrop, showing varying degrees of alteration, and “Zinc Oxide Creek”, a creek whose bed has been coated by white to pink zinc oxide.  The zinc oxide is presumed to have been sourced from nearby zinc mineralization.

Sheeted Veins

The team at Plata has so far located sheeted veins in 3 locations as shown on the map below.

Figure 1: Plata property, showing the newly staked claim outline (red) and notable field observations from the 2025 program.

Notes:

1. The Cujo intercept is from a Snowline Gold (TSXV: SGD) News Release dated November 9, 2023.  The QP has been unable to verify the information.

2. The Cujo intercept is not necessarily indicative of mineralization that may be present at the Plata project.

Sheeted veins along the southern aspects of “Morgan Ridge” are hosted within beige / tan medium to coarse grained quartz-rich sandstone.  Additional sheeted veins occurrences have been mapped within massive chert units further to the north (photo 25CFPT028).

At Morgan Ridge, sheeted veins are composed of primarily comb and vuggy textured bright white quartz. Veins vary in width from 1cm to 5 cm and have an average density of 3 parallel veins per meter (see 25JGPT024 photo below). The observed orientation of veining is typically perpendicular to bedding in the host sandstone unit which has a NW-SE strike, giving the veins a roughly NE trend.

The width of the most concentrated vein system at Morgan Ridge is outlined in the map figure with a continuation of 1200 meters along the slopes and a vertical of 500 meters. This extent is open to the south, downslope.

Figure 2: 25JGPT024 (left) shows sheeted quartz veining ranging from 2cm to 5cm in width with a density of 3 veins per meter hosted in medium grained quartz rich sandstone at Morgan Ridge – Hammer handle (bottom) in 18 inches long. 25CFPT028 (right) shows quartz veining, both sheeted and sinuous hosted by massively bedded dark grey chert.

In addition, a boulder of sandstone with a 4 cm wide quartz vein and multiple 3 mm sheeted quartz veins was mapped and sampled in the southern part of the property (Figure 1), in the area staked due to a geophysical anomaly (magnetic low).  This sandstone also contained fine-grained pyrite in its matrix.  Though not found in outcrop, the boulder was jagged-edged and is interpreted to be near-source.

About Plata

Plata is located in east-central Yukon within the Tombstone Gold Belt and is a past producing high-grade silver property that produced about 290,000 ounces of silver (Ag) from small-scale mining of high-grade veins that are exposed at surface⁽¹⁾.  Ore was mined and flown by fixed wing aircraft to Idaho for processing.  Historical exploration at Plata has primarily focused on the outcropping high-grade silver veins.  These are analogous to the rich Keno Hill Silver Mine in the Yukon, one of the highest-grade silver deposits in the world, now operated by Hecla Mining.  While the analogy to Keno Hill remains valid, the Company has continued to develop its understanding of Plata as part of a larger “Snowline-style” mineralized system.  Understanding how Plata might fit into a Reduced Intrusion Related Gold System (RIRGS) like Snowline Gold’s Rogue and Valley deposits adds the potential for a large gold deposit in addition to the high-grade silver vein potential.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol (PG, FAusIMM), a director and technical advisor of the Company, who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver at a grade of 262 g/t silver (and 201.3 million pounds of zinc at a grade of 6% zinc) Indicated and 13.9 Moz of silver at a grade of 169 g/t silver (and 247.8 million pounds of zinc at a grade of 4.4% zinc) Inferred⁽²⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has an unclassified historic resource of 5.5 Moz of silver at a grade of 22 g/t silver and 1.3 billion pounds of zinc at a grade of 7.6% zinc⁽³⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002⁽⁴⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Carlson, G.G., 2010, “Technical Report Describing Exploration and Development at the Plata Project, located in the Mayo Mining District, East-Central Yukon”, report prepared for Platoro West Holdings Inc.(

⁽²⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽³⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽⁴⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

 ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

Sonya Pekar
Investor Relations
[email protected] | +1 (647) 498-8244

For more information please visit our website www.honeybadgersilver.com

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. 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, July 23, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that it has closed the non-brokered private placement financing previously announced on July 17, 2025 (the “Additional Financing”). Due to strong investor demand, the Company upsized the Additional Financing, raising aggregate gross proceeds of  $630,205.92 through the issuance of 5,729,145 units of the Company (the “Additional Units”) at a purchase price of $0.11 per Additional Unit. Each Additional Unit consists of one common share of the Company and one half of one common share purchase warrant (each whole warrant, an “Additional Warrant“). Each Additional Warrant entitles the holder to acquire one common share of the Company (each, an “Additional Warrant Share“) for an exercise price of $0.15 per Additional Warrant Share for a period of 18 months following the closing date of the Additional Financing, subject to customary anti-dilution adjustments.

Combined with the $1.986 million raised in the first tranche of the Company’s previously announced non-brokered private placement disclosed on June 17, 2025 (the “Offering“), and the $465,000 raised from the second tranche of the Offering, the Company has now raised approximately $3.081 million in total gross proceeds from the Offering and the Additional Financing.

The Company intends to use the net proceeds from the Additional Financing to fund programs to advance one or more of the Company’s properties, the purchase of silver royalties and for general and administrative purposes.

In connection with the closing of the Additional Financing, the Company paid aggregate cash finder’s fees of $10,500 and issued 95,455 non-transferable finder’s warrants to certain arm’s length finders. Each finder’s warrant is exercisable to acquire one common share in the capital of the Company at a price of C$0.15 per share until January 23, 2027, subject to customary anti-dilution adjustments.

The securities issued in connection with the Additional Financing are subject to a four-month and a day hold period under Canadian securities laws. The Additional Financing is subject to receipt of the final approval of the TSX Venture Exchange.

Caution to US Investors 

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.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred ⁽¹⁾⁽³⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc ⁽²⁾⁽³⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 ⁽²⁾⁽³⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

Sonya Pekar
Investor Relations
[email protected] | +1 (647) 498-8244

For more information please visit our website www.honeybadgersilver.com

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. 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) including in respect of the use of proceeds of the Additional Financing and the receipt of the final approval from the TSX Venture Exchange, 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, July 21, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”)is pleased to announce that it has added a significant number of new claims to its 100%-owned Plata project in the Yukon.

The Company’s Executive Chairman, Chad Williams, commented, “We are very excited to have expanded the claim package at Plata to cover the multiple new geologic targets identified by our team.  These targets are fertile potential discovery ground for 1) high-grade silver vein mineralization and 2) for “Snowline-style” intrusive-related silver-gold mineralization.”

The current program is focused on geologic mapping and sampling of new targets as discussed in a news release dated June 12, 2025 (“Honey Badger’s Work Outlines New High-Grade and Rogue-Like targets at the Plata Project”) as well as on evaluating the new targets overlain by the new claims.

New Targets and Claims

Ninety-five (95) claims covering 1985.50 hectares were recently staked.  The map below shows the location of the new claims. The Plata property now comprises 465 claims covering a total area of 9,718.50 hectares.  The new claims represent a 25.7% increase in the size of the property.

The rationale behind staking these claims is:

• The main controlling structure for Plata mineralization appears to be northwest trending. The new claims will cover any potential extensions of targets in the northwest part of Plata, as discussed in the June 12, 2025, news release.
• There is a historical mineral showing called Keg (see map below) along strike to the northwest of the prior Plata claim boundary. Previous work at the Keg has disclosed high-grade grab samples ranging up to 223 g/t Ag, 3 g/t Au, 3.95% Zn, 2.19% Pb, and 0.42% Cu.  The new claims cover the Keg occurrence.

• The new claims also cover two northwest trending Mayo suite intrusions which represent potential “Snowline-style” Reduced Intrusion Related Gold System (RIRGS) targets.Approximately 50% of the Mayo Suite intrusions in the region have gold mineralization.  Among other examples, they host the Valley, Fort Knox, and Eagle Gold deposits.
• The two Mayo Suite intrusions on the new ground are located next to a very high government silt anomaly.   The anomalies are above the 99.9 percentile threshold in silver (Ag), and above the 90 percentilethreshold in gold (Au), zinc (Zn), arsenic (As), lead (Pb), antimony (Sb), and tellurium (Te).  Arsenic, antimony, and tellurium are commonly associated with RIRGS mineralization.

About Plata

Plata is located in east-central Yukon within the Tombstone Gold Belt and is a past producing high-grade silver property that produced about 290,000 ounces of silver (Ag) from small-scale mining of high-grade veins that are exposed at surface.  Ore was mined and flown by fixed wing aircraft to Idaho for processing.  Historical exploration at Plata has primarily focused on the outcropping high-grade silver veins.  These are analogous to the rich Keno Hill Silver Mine in the Yukon, one of the highest-grade silver deposits in the world, now operated by Hecla Mining.  While the analogy to Keno Hill remains valid, the Company has continued to develop its understanding of Plata as part of a larger “Snowline-style” mineralized system.  Understanding how Plata might fit into a Reduced Intrusion Related Gold System (RIRGS) like Snowline Gold’s Rogue and Valley deposits adds the potential for a large gold deposit in addition to the high-grade silver vein potential.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol(PG, FAusIMM), a director and technical advisor of the Company, who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽⁴⁾ Carlson, G.G., 2010, “Technical Report Describing Exploration and Development at the Plata Project, located in the Mayo Mining District, East-Central Yukon”, report prepared for Platoro West Holdings Inc.

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

Sonya Pekar
Investor Relations
[email protected]| +1 (647) 498-8244

For more information please visit our website www.honeybadgersilver.com

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. 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, July 17, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that it has closed the second tranche of the non-brokered private placement (the “Offering“) previously announced on June 17, 2025 (the “Second Tranche”), raising aggregate gross proceeds of $465,000 through the issuance of 4,650,000 units (the “Units”) at a purchase price of $0.10 per Unit.

Each Unit consists of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder to acquire one common share of the Company (each, a “Warrant Share“) for an exercise price of $0.15 per Warrant Share until January 16, 2027, subject to customary anti-dilution adjustments.

The Company is also pleased toannounce that based on investor demand, it intends to complete an incremental non-brokered private placement offering (the “Additional Financing“) of up to an additional 5,327,273 units (the “Additional Units“) at a price of $0.11 per Additional Unit for additional aggregate gross proceeds of up to $586,000. Each Additional Unit will consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, an “AdditionalWarrant“). Each Additional Warrant will entitle the holder to acquire one common share of the Company (each, an “AdditionalWarrant Share“) for an exercise price of $0.15 per Additional Warrant Share for a period of 18 months following the closing date of the Additional Financing, subject to customary anti-dilution adjustments.

The Additional Financing is expected to close on or about July 23, 2025,and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

The Company intends to use the net proceeds from theSecond Trancheand the Additional Financing to fund programs to advance one or more of the Company’s properties, the purchase of silver royalties and for general and administrative purposes.

In connection with the closing of the Second Tranche, the Company paid aggregate cash finder’s fees of $13,300 and issued 133,000 non-transferable finder’s warrants to certain arm’s length finders. Each finder’s warrant is exercisable to acquire one common share in the capital of the Company at a price of C$0.15 per share until January 16, 2027, subject to customary anti-dilution adjustments.

In addition, further to its news release dated July 3, 2025, the Company wishes to clarify that, under the first tranche of the Offering, it issued an aggregate of 7,692,353 common shares of the Company that will qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) at a price of $0.13 per share and 9,860,000 units of the Company at a price of $0.10 per unit for aggregate gross proceeds of approximately $1.986 million and paid aggregate cash finder’s fees of $39,345 and issued 362,680non-transferable finder’s warrants to certain arm’s length finders.

The securities issued in connection with the Second Trancheare subject to a four-month and a day hold period under Canadian securities laws, and any securities to be issued in connection with the Additional Financing will be subject to a four-month and a day hold period from the date of issue.

The Offering is subject to receipt ofthe final approval of the TSX Venture Exchange. Additional finder’s fees may be payable in connection with the Additional Financing.

Certain insiders of the Company are expected to participate in the Additional Financing and as a result, the Additional Financing may constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101“).  The Company expects to rely on the exemptions from the formal valuation requirements of MI 61-101 contained in section 5.5(a) and (b) of MI 61-101 on the basis that the fair market value of the transaction with related parties will not be more than 25% of the market capitalization of the Company and no securities of the Company are listed on a specified market set out in such section, and the Company expects to further rely on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the transaction with related parties will not be more than 25% of the market capitalization of the Company.

Grant of Options

The Company also announces that it granted an aggregate of 4,000,000 options to acquire common shares of the Company (the “Options“) to certain officers, employees and/or consultants of the Company. The Options have an exercise price of $0.12per share, have a 5-year term from the date of grant (July 16, 2025) and vest in equal halves on the date of grant and on the date that is six months from the date of grant.

Caution to US Investors 

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.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred ⁽¹⁾⁽³⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc ⁽²⁾⁽³⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 ⁽²⁾⁽³⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

Sonya Pekar
Investor Relations
[email protected]| +1 (647) 498-8244

For more information please visit our website www.honeybadgersilver.com

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. 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) including in respect of the use of proceeds of the Offering, the timing and closing of additional tranches, if any,  the receipt of the final approval from the TSX Venture Exchange, if at all and the tax treatment of the FT Shares; 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, July 3, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that it has closed the first tranche of the non-brokered private placement previously announced on June 17, 2025 (the “First Tranche”), raising aggregate gross proceeds of  approximately $2.013 million through the issuance of 9,860,000 non-flow-through units (the “NFT Units”) at a purchase price of $0.10 per NFT Unit (the “FTOffering”) and 4,930,000 common shares of the Company that are intended to qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) (“FT Shares”) at a purchase price of $0.13 per FT Share (the “Unit Offering, and together with the FT Offering, the Offering”).

Each NFT Unit consists of one non-flow-through common share of the Company (a “Unit Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant entitles the holder to acquire one common share of the Company for an exercise price of $0.15 until January 3, 2027, subject to customary anti-dilution adjustments.

The Company will use the gross proceeds from the FT Offering to fund exploration programs to advance one or more of the Company’s properties located in the Yukon, Northwest Territories, and Nunavut, and in particular to incur exploration expenses that qualify as “Canadian exploration expenses” as that term is defined in subsection 66.1(6) of the Income Tax Act (Canada) and  as “flow-through mining expenditures” as that term is defined in subsection 127(9) of the Income Tax Act (Canada)provided that such definition is amended to extend the mineral exploration tax credit under the Income Tax Act (Canada) as announced by the Minister of Finance on March 3, 2025.  Such expenses will be incurred on or before December 31, 2026, and renounced to the subscribers of FT Shares with an effective date no later than December 31, 2025.The Company intends to use the net proceeds from Unit Offering to fund programs to advance one or more of the Company’s properties, the purchase of silver royalties and for general and administrative purposes.

In connection with the closing of the First Tranche, the Company paid aggregate cash finder’s fees of $9,345 and issued 93,450 non-transferable finder’s warrants to certain arm’s length finders. Each finder’s warrant is exercisable to acquire one common share in the capital of the Company at a price of C$0.15 per share until January 3, 2027, subject to customary anti-dilution adjustments..

The securities issued in connection with the Offering are subject to a four-month and a day hold period under Canadian securities laws. The Offering is subject to receipt of thefinal approval of the TSX Venture Exchange. Additional finder’s fees may be payable in connection with any subsequent tranches of the Offering which may be closed in the future.

Mr. Eric Sprott participated in the First Tranche of the Offeringby investing $500,000 in NFT Units.

Caution to US Investors 

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.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred ⁽¹⁾⁽³⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc ⁽²⁾⁽³⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 ⁽²⁾⁽³⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

Sonya Pekar
Investor Relations
[email protected]| +1 (647) 498-8244

For more information please visit our website www.honeybadgersilver.com

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. 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) including in respect of the use of proceeds of the Offering, the timing and closing of additional tranches, if any,  the receipt of the final approval from the TSX Venture Exchange, if at all and the tax treatment of the FT Shares; 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, June 17, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”)is pleased to announce that it intends to complete a non-brokered private placement of  (i) up to 3,600,000 common shares of the Corporation that are intended to qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “FT Shares“) at a price of $0.14 per FT Share for aggregate gross proceeds of up to approximately $500,000 (the “FT Offering“); and (ii) up to 15,000,000non-flow-through units (“NFT Units”) at a price of $0.10 per NFT Unit for aggregate gross proceeds of up to $1.5 million (the “Unit Offering”, and together with the FT Offering, the “Offering”).  All dollar amounts in this news release are in Canadian funds.

Each NFT Unit will consist of one non-flow-through common share of the Company (a “Unit Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant will entitle the holder to acquire one common share of the Company for an exercise price of $0.15 for a period of 18 months from its date of issuance.

The Company will use the gross proceeds from the FT Offering to fund exploration programs to advance one or more of the Company’s properties located in the Yukon, Northwest Territories, and Nunavut,and in particular to incur exploration expenses that qualify as “Canadian exploration expenses” as that term is defined in subsection 66.1(6) of the Income Tax Act (Canada) and  as “flow-through mining expenditures” as that term is defined in subsection 127(9) of the Income Tax Act (Canada)provided that such definition is amended to extend the mineral exploration tax credit under the Income Tax Act (Canada) as announced by the Minister of Finance on March 3, 2025.  Such expenses will be incurred on or before December 31, 2026, and renounced to the subscribers of FT Shares with an effective date no later than December 31, 2025.The Company intends to use the net proceeds from Unit Offering to fund programs to advance one or more of the Company’s properties, the purchase of silver royalties and for general and administrative purposes.The securities issued in connection with the Offering will be subject to a four-month and a day hold period.  The Offering is expected to close on or about June 30,2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange (the “TSXV”).  Finder’s Fees may be payable in connection with the Offering, subject to the approval of the TSXV.

Mr. Eric Sprott is expected to participate in the financing by subscribing for $500,000 of the NFT Units. In addition, the Company’s Executive Chairman, Chad Williams, is expected to participate in the financing by subscribing for $300,000 of the NFT Units.

Insider Participation

Certain insiders of the Company are expected to participate in the Offering and as a result, the Offering may constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101“).  The Company expects to rely on the exemptions from the formal valuation requirements of MI 61-101 contained in section 5.5(a) and (b) of MI 61-101 on the basis that the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company and no securities of the Company are listed on a specified market set out in such section, and the Company further relies on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) of MI 61-101 on the basis of the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company.

Caution to US Investors

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.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

For more information:

Sonya Pekar, Investor Relations
[email protected]
+1 (647) 498-8244

www.honeybadgersilver.com

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. 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) including in respect of the use of proceeds of the Offering, the timing and ability of the Corporation to close the Offering, including obtaining approval of the Offering from the TSX Venture Exchange, if at all, the tax treatment of the FT Shares and the participation of Mr. Sprott and certain insiders in the Offering; 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, June 12, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”)is pleased to announce that it will be begin exploration work at Plata on or about June 17, 2025.  The upcoming program will focus on new targets discussed in a news release dated April 16, 2025 (“Honey Badger’s Work Outlines New High-Grade and Rogue-Like targets at the Plata Project”).

The Company’sExecutive Chairman, Chad Williams, commented,

“We are excited to launch our 2025 exploration program at Plata, which is located immediately west of Snowline Gold’s world-class Rogue gold discovery. We believe that we can extend the strike length of the high-grade Aho Zone, where historical drilling intersected an impressive 2,827 g/t Ag, 3.65 g/t Au, 2.21% Pb, and 6.17% Zn over 1.6 meters, through targeted prospecting to the east. This field season, we will rigorously test this high-priority target, alongside the Northwest Target and a magnetic low anomaly that shows high potential for a ‘Snowline-style’ gold system. Backed by a $50,000 Yukon government grant, Honey Badger is poised to prove up Plata’s potential as a premier high-grade silver and gold project, paving the way for another transformative discovery in the Yukon’s Tombstone Gold Belt.”

Mineralization and Targets at Plata

Plata is located in east-central Yukon within the Tombstone Gold Belt and is a past producing high-grade silver property that produced about 290,000 ounces of silver (Ag) from small-scale mining of high-grade veins that are exposed at surface.  Ore was mined and flown by fixed wing aircraft to Idaho for processing.  Historical exploration at Plata has primarily focused on the outcropping high-grade silver veins.  These are analogous to the rich Keno Hill Silver District in the Yukon, one of the highest-grade silver deposits in the world, now operated by Hecla Mining.  While the analogy to Keno Hill remains valid, the Company has continued to develop its understanding of Plata as part of a larger “Snowline-style” mineralized system.  Understanding how Plata might fit into a Reduced Intrusion Related Gold System (RIRGS) like Snowline Gold’s Valley deposit adds the potential for a large gold deposit in addition to the high-grade silver vein potential.

Three targets will be the focus of the upcoming field program (see Figures 1 and 2, below):

1. Potential Snowline-style RIRGS and/or high-grade mineralization in the “Northwest Target”.
2. Potential extension of the high-grade Aho Zone to the east; potential unrecognized mineralization along the Plata and Rogue thrust faults.
3. Potential for RIRGS mineralization in newly staked claims over the magnetic low anomaly in the southern part of Plata.

Northwest Target

This target is in the northwestern part of the Plata property, 8 kilometres southwest of Snowline Gold’s Cujo target, which has returned significant drill intercepts up to 0.11 g/t Au over 407.4 m (Fig. 1). Importantly, major faults that occur at the Cujo Showing have been interpreted to continue into the Northwest Target at Plata.Additionally, the stream draining this area yielded highly anomalous Ag (silver), Pb (lead), Zn (zinc), As (arsenic), and Sb (antimony) stream sediment values during historic sampling carried out by the Yukon Geological Survey.  Samples were not analyzed for Au (gold) during that program.  The upcoming exploration program will comprise:

• Geologic mapping, prospecting, and geochemical sampling focused on the Ag-Au vein and RIRGS Au potential in the area.
• Follow-up of anomalous silver-in-soil geochemical anomalies in the eastern part of this target area. These anomalies coincide with a regional structure and may be a target similar to the Plata and Rogue thrusts.
• All samples will be analyzed for Au and Ag as well as pathfinder elements that can be associated with RIRGS mineralization, including Sb, As, Te (tellurium), and Bi (bismuth).

Aho Area

This is in the central-eastern part of the Plata project.  High-grade silver and gold mineralization occurs throughout the Aho zone, which has produced drill results up to 2,827 g/t Ag, 3.65 g/t Au, 2.21% Pb, and 6.17% Zn over 1.6 m, and returned high-grade grab samples up to 78.6 g/t Au (Figs. 1 & 2).  The potential extension of the Aho Zone to the east has never been examined in detail.  The upcoming program will comprise:

• Geologic mapping and prospecting of the eastern extension of the Plata thrust to determine whether high-grade silver mineralization of the Aho zone extends to the east.
• Detailed prospecting and mapping of the Rogue thrust. Mineral occurrences P6 and P17 (see map) lie along the Rogue thrust and sheeted veins were discovered parallel to the Rogue thrust during the Company’s 2023 exploration program, indicating the potential for RIRGS mineralization along the structure, including east of the Aho zone.
• Prospecting and mapping will follow up historical (1970s) anomalous silver-in-soil values 1 kilometre southwest of the Plata thrust.

Magnetic Low

The Company’s most recent claims at Plata were staked in 2024 to cover a magnetic low anomaly postulated to represent a shallow intrusion (Fig. 1).  This is a potential host to “Snowline-type” RIRGS mineralization.  The upcoming program will prospect in the area looking for exposures of the intrusive and take reconnaissance soil samples to see if there are indications of shallow mineralization.

Yukon Minerals Exploration Program Agreement

The Company has been awarded a grant from the government of the Yukon Territory to help fund the upcoming exploration program at Plata, under the Yukon Minerals Exploration Program (“YMEP”).  Honey Badger will be eligible to receive up to $50,000 from the Yukon Government under YMEP as reimbursement for up to 50% of incurred exploration costs implementing this program.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol(PG, FAusIMM), a director and technical advisor of the Company, who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽⁴⁾ Carlson, G.G., 2010, “Technical Report Describing Exploration and Development at the Plata Project, located in the Mayo Mining District, East-Central Yukon”, report prepared for Platoro West Holdings Inc.

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

For more information

Sonya Pekar, Investor Relations
[email protected]
+1 (647) 498-8244

please visit our website www.honeybadgersilver.com

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. 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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, June 5, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”)is pleased to announce the appointment of Rob Suttie as Chief Financial Officer (CFO).  The appointment becomes effective June 5, 2025.  The Company has also appointed Monique Hutchins as Corporate Secretary.

Mr. Suttie is the President of Marrelli Support Services (“Marrelli”),bringing with himalmost thirty years of financial reporting experience, ten of which were in public accounting prior to his tenure with Marrelli. He specializes in management advisory services, accounting and the financial disclosure needs of Marrelli’s public client base. In this capacity, Mr. Suttie also serves as Chief Financial Officer or director for a number of TSXV and CSE-listed companies.

The Company’s Executive Chairman, Chad Williams, commented, “We are pleased to welcome Rob and Monique to the Honey Badger management team.  Their experience will be invaluable as we progress toward our objective of being a leading silver company.  We thank Dan O’Brien and Ben Meyer for their efforts on behalf of the Company.”

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred ⁽²⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc ⁽¹⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 ⁽³⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

1. Clear Lake 2010 SRK historic resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
2. Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.
3. Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

For more information

Sonya Pekar, Investor Relations

[email protected]|  +1 (647) 498-8244.

www.honeybadgersilver.com

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. 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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.

White Rock, British Columbia, June 4, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”)is pleased to provide an update on its 100%-owned Clear Lake Project in the Whitehorse Mining District of Yukon Territory.

The Company has completed a detailed review of geological, geochemical, and geophysical data on the property.  This has resulted in the identification of several new target areas and the conclusion that there is a significant opportunity to vastly grow the historical silver-rich zinc deposit resource at Clear Lake.

Chad Williams, the Company’s Executive Chairman, commented, “This is an excellent example of how Honey Badger adds value in a very rapid and cost-effective way, to a project that we purchased inexpensively prior to the recent runup in the silver price. Clear Lake has seen extensive work and spending in the past by other companies. The best way to create value for shareholders is to rapidly and economically increase the net-asset-value of a previously discovered – but under appreciated mineral deposit. In fact, we have seven of these types of projects in our portfolio already! Clear Lake has tremendous potential beyond its historic resource of 5.5 million ounces of silver and over 1.3 billion pounds of zinc.  The historic resource remains open both along strike and down dip.  In addition, our data review has identified three additional high-quality, drill-ready target areas near the defined historic resource, each of which has the potential to be at least another Clear Lake-size deposit.”

The three priority targets are based on geophysical data:

• Target 1: An EM (Electromagnetic) anomaly with a geophysical signature very similar to that of Clear Lake. Interpretation of the data indicates a possible massive sulphide body at a depth of about 150 metres.
• Target 2: A second EM anomaly on strike with Clear Lake mineralization and adjacent to an outcrop of zinc-rich gossan (iron oxides that result from the weathering of massive sulphides).
• Target 3: A coincident gravity and EM anomaly interpreted as possibly representing a flat-lying massive sulphide body at a depth of about 300 metres.

Mineralization and Targets

The Clear Lake deposit is a sedimentary-exhalative massive sulphide (“Sedex”) deposit hosted by carbonaceous argillite, siltstone, cherts and tuffs of the Devono-Mississippian Earn Group (Fig. 1).

Drilling at the Clear Lake deposit has produced exceptional results such as 14.1% Zn, 2.24% Pb, and 36.4 g/t Ag over 29 m as well as 20.9% Zn, 8.3% Pb, and 101 g/t Ag over 6.3 m*. The Clear Lake deposit hosts a historic NI 43-101 Inferred Resource prepared by SRK in 2010 (1), 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)

The resource was estimated using a 4% lead plus zinc cut-off and 2-metre minimum thickness as a reasonable cut-off, without reference to specific metal prices.

*Drill intercepts are reported as drilled and do not necessarily represent true thicknesses.

Figure 1. Geology map of the Clear Lake Property with the deposit outline and targets shown.

A detailed review of geophysical and geochemical data from the Clear Lake Project has delineated three new exploration targets on the property. This is largely based on a large 235 km VTEM (helicopter-borne EM and magnetics) survey that was completed over the property and adjoining ground to the east and south. Significantly, the Clear Lake deposit produced a distinct VTEM signature. VTEM signatures similar to the Clear Lake deposit were identified elsewhere on the property and were subsequently followed up with 11.1 km of gravity and IP (Induced Polarization) surveys. A review of the gravity and IP data in the context of the initial VTEM survey has resulted in three high-priority targets:

VTEM Target 1 – Highest priority target area. Initial interpretation of the VTEM anomaly suggested a possible flat-lying conductor at a depth of 150 m that could represent a massive sulfide body similar to Clear Lake. Subsequent work has showed a strong correlation between the VTEM conductor, gravity anomaly and both chargeability and resistivity responses. The broad gravity anomaly is coincident with a VTEM imaged conductor located on the flank of a strong chargeability response to the southwest. The similarities to the Clear Lake geophysical signature make this a highly compelling target.

VTEM Target 2 – Occurs along strike with the Clear Lake stratigraphy and is adjacent to a zinc-rich gossan along the bank of the Pelly River. Barite and pyrite have also been observed along fractures in Askin Formation dolomite to the south of the conductor. In an overburden drill soil geochemical line west of the conductor, two samples returned 410 and 450 ppm Zn while three samples returned Ag values from 0.9 to 1.8 ppm. In a separate auger soil survey, four samples returned values between 348 ppm to 5,370 ppm Zn. Significantly, a coincident gravity and chargeability anomaly flank a conductor detected by both the resistivity and VTEM surveys.

VTEM Target 3 – Data interpretation suggests a well-defined gravity anomaly centred over the strongest portion of the VTEM conductor and potentially represents a flat-lying massive sulphide deposit at a depth of about 300 m. In addition, a strong chargeability anomaly with a coincident resistivity low outside of the gravity feature could represent a buried intrusive with disseminated mineralization.

Future exploration work at the Clear Lake Project will be focused on the VTEM target areas outlined above. Geochemical sampling has been successful in delineating zinc mineralization at the Clear Lake deposit. Additional geochemical sampling over the new target areas will be assessed as a method to define drill targets. Significantly, the Clear Lake property benefits from a Class 3 Land Use Approval, which is valid until 2029 and allows for up to 31,500 m of diamond drilling and 2000 m of reverse circulation drilling.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, a director and technical advisor of the Company (PG, FAusIMM), who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred ⁽²⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc ⁽¹⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 ⁽³⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

1. Clear Lake 2010 SRK historic resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
2. Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.
3. Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations |  [email protected]|  +1 (647) 498-8244.

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. 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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.

White Rock, British Columbia, April 16, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”)is pleased to provide an update on its 100%-owned Plata project, located adjacent to Snowline Gold Corp’s (“Snowline”) major discovery at its Rogue project in the Yukon Territory. The Company has been prioritizing targets to plan the next phase of work on the project.

The Company’sExecutive Chairman, Chad Williams, commented, “We have always been excited by the high-grade silver occurrences at Plata and the similarities to the local prolific Keno Hill district. The fact that silver grades at surface were so high as to allow for direct transport of ore by airplane to Idaho for treatment speaks for itself! The additional component of strong indications of a potential large gold system similar to Snowline’s Rogue discovery, which is located adjacent to Plata, potentially with a significant silver component, adds to our excitement. We will continue compiling data in preparation of a highly focused field program with the objective of advancing Plata toward one or more discoveries.”

About Plata

Plata is located in east-central Yukon within the Tombstone Gold Belt and is a past producing high-grade silver property that produced about 290,000 oz Ag from small-scale, high-grade mining at surface (Carlson, 2010). Ore was mined and flown by fixed wing aircraft to Idaho for processing. Historical exploration work at Plata has primarily focused on the high-grade silver veins at surface.  These are analogous to the rich Keno Hill Silver Mine in the Yukon, one of the highest-grade silver deposits in the world, now operated by Hecla Mining. While the analogy to Keno Hill remains valid, the Company has continued to develop its understanding of Plata as part of a larger “Snowline-style” mineralized system. Understanding how Plata may fit into a Reduced Intrusion Related Gold System (RIRGS) adds the potential for a large gold deposit in addition to the high-grade silver and lead potential.

New targets have been identified:

• Potential extension of high-grade Aho zone to the east.
• Potential unrecognized mineralization along the Plata and Rogue thrust faults. The Rogue Thrust is a newly named structure north of the Plata Thrust.
• Potential for RIRGS mineralization in newly staked claims over a magnetic low anomaly.

Mineralization and Targets at Plata

To date, exploration has identified four types of mineralization at Plata (Table 1). The most well understood of these are Type I and Type II mineralization. Type I mineralization consists of high-grade silver veins hosted in northeast-trending faults. The most significant occurrences of Type I mineralization occur as veins up to tens of metres wide that can be traced for up to 100 metres. Mineralization consists of heavily disseminated to massive galena, tetrahedrite and sphalerite. Type II mineralization is characterized by high-grade gold and silver veins that form within parallel structures along the Plata Thrust Fault. Mineralization comprises bands of arsenopyrite, pyrite, galena, boulangerite, tetrahedrite and sphalerite. Type II mineralization comprises the P3 and P4 showings, which are collectively known as the Aho Zone (Fig. 1).

The recognition and continued understanding of the Aho Zone in the context of a larger RIRGS has become increasingly important to the Plata project. The structures that play a role in the distribution of intrusions and associated mineralization at Snowline’s Rogue project also occur at Plata, which strongly suggests that the mineralization at Plata is closely tied to a larger RIRGS in the region (Figures 1 and 2). The Aho Zone has been traced along the Plata Thrust Fault for over 800 metres strike length, and downdip to a depth of 580 metres, with drill results such as 711 g/t silver and 6.17% zinc over 1.52m (Table 1). No rock samples have been collected to the east of the Aho showing despite elevated topography that appears conducive for outcrop exposure. The current extent of detailed mapping on the property also suggests that over 1 km of the Plata Thrust remains completely unexplored towards the eastern claim boundary (Figure 1). This is an important observation and presents a significant opportunity to find additional Aho-style mineralization along the underexplored Plata Thrust Fault. This has been identified as a top priority target for follow up exploration at Plata. Future fieldwork will also revisit the area to the northwest of the Aho Zone in order to identify additional Aho-style mineralization along the Plata and/or Rogue Thrust Faults that may have been previously overlooked. Sheeted quartz veining within a felsic dyke (Vein Type IV) was recognized for the first time at Plata in this area in 2023, which further supports the interpretation that there may be a buried, mineralized intrusion at Plata analogous to RIRGS mineralization identified on Snowline’s Rogue project.

Table 1. Known Mineralization (Vein) Types at the Plata Project.

Figure 1. Map of the Plata property highlighting the extent of current detailed mapping on the property, as well as high priority target areas for follow up work.

The Company increased its land position at Plata in 2024 by adding 1,338 hectares to the project area over a magnetic low geophysical signature in the southern portion of the property (Fig. 2). Diagnostic features of reduced intrusions in the Tombstone Gold Belt are magnetic and conductivity low geophysical signatures that may be enveloped by a magnetic high due to the presence of pyrrhotite in the hornfelsed aureoles of the intrusion. This newly acquired ground shares an important structure that transects Snowline’s Cynthia project, which comprises a 2×2 km zone of alteration, veining, and elevated gold geochemistry between two Tombstone suite intrusions (Figure 2). This newly acquired ground at Plata is a high priority exploration target and will be the subject of a reconnaissance field mapping and sampling program to evaluate the significance of the geophysical anomaly and any associated alteration and mineralization. Significantly, this area can be easily accessed by the main road that connects the north part of the property to the Plata airstrip located to the south.

Figure 2. Regional first vertical derivative magnetic map encompassing Honey Badger’s Plata project and Snowline Gold’s Rogue project.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, a Director and technical advisor of the Company (PG, FAusIMM), who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (2,3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”

⁽⁴⁾ Carlson, G.G., 2010, Technical Report describing Exploration and Development at the Plata Project, located in the Mayo Mining District, East-Central Yukon, Report Prepared for Platoro West Holdings Inc.

ON BEHALF OF THE BOARD

Chad Williams, Executive Chairman

For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations |  [email protected]|  +1 (647) 498-8244.

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. 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 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, risks relating 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.sedarplus.ca) under Honey Badger’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.