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.

White Rock, British Columbia, April 14, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) announces that Dorian L. (Dusty) Nicol will be stepping down as the Company’s CEO, effective today. Chad Williams, the Company’s Chairman, will change his role to Executive Chairman and Interim CEO. Dusty will remain a Director of the Company and will be retained as an advisor on technical matters.

Honey Badger’s Executive Chairman, Chad Williams, commented, “The Company thanks Dusty for his efforts and commitment during this time of transition and growth of Honey Badger. He will continue to serve an important function as the Company’s senior technicaladvisor. As a large shareholder of Honey Badger, and a strong believer in the outlook for the price of silver, I am committed to the success of this Company. We own 100% of 7 high-quality silver mineral assets located in favorable locations. Weacquired these assets at very attractive prices while other silver companies were essentially dormant during a period of lower silver prices. Our projects represent much higher value than what is being represented in our current share price. It’s up to me, and Honey Badger in general, to surface that value.”

Chad Williams has an extensive background in capital markets and business management. He is the founder and Chairman of Red Cloud Mining Capital, Inc. He was one of the founders of both Agilith Capital Inc. and Westwind Capital Inc., as well as the former CEO of Victoria Gold Corp. (he departed in 2011) and former Head of Mining Investment Banking at Blackmont Capital Inc. Prior to these positions, Mr. Williams was a top-ranked mining analyst at TD Bank and other Canadian brokerage firms in Toronto.Mr. Williams is a member of the Association of Professional Engineers of Ontario, having received a Bachelor of Engineering degree and a Master of Business Administration from McGill University.

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

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 tocapital 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, March 25, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) announces an update on its 100%-owned Nanisivik project, located on Baffin Island, Nunavut. The Nanisivik mine produced over 20 million ounces of silver between 1976 and 2002(3). Over 100 million tonnes of massive sulphide (principally pyrite) (3), were left unmined when the mine closed to depressed zinc and silver prices. Since Nanisivik’s closure in 2002, silver and zinc prices are up over 600% and 200% respectively. In addition, since the mine’s closure, a deep-water port has been constructed within only kilometres of Nanisivik, as a result of renewed interest from the governments of both Canada and the United States in developing the Arctic.

The company is continuing a comprehensive review of historical exploration and development data from the Nanisivik Project. To date, three priority targets have been identified, including the Deb, Ocean View North, and Area 14. A review of historical exploration drilling at the former mine site identified a number of significant drill intersections located outside mined areas. These discoveries were not followed up at the time due tothe focus on production. Thus, each of these represents a priority target, and has the potential with step-out drilling to be the basis of a new economic resource. A selection of significant silver and/or zinc mineralized intercepts from these priority target areas is provided in the table below and the locations of drillholes with significant intersections are illustrated in the figures below.

Honey Badger’s CEO, Dorian L. (Dusty) Nicol, commented, “The identification of these targets further reinforces our belief that Nanisivik has great potential to host significant unmined silver-zinc resources within the over 100 million tonnes of massive sulphide that occur on the property. Indeed, mine reports indicate that approximately 5 million tonnes of zinc-silver mineralization were left unmined in the main workings due to low metals prices at the time. We are particularly encouraged to uncover high-grade, shallow intersections from within just 20 metres of surface in unmined target areas, such as the Ocean View North Target, where historic drilling returned 97.6 g/t Ag and 22.8% Zn over 5.3 metres. Nanisivik was profitable at the much lower silver and zinc prices of 1976-2002. One can imagine how profitable it would be today with much higher commodity prices and better infrastructure access, particularly the construction of a deep-water port within only kilometres of the deposit, completed since the mine was shut down.There also remains the potential for significant germanium and gallium mineralization, which was not evaluated by previous operators. It is worth noting that Fireweed Metals Corp. recently attracted up to $34.5 million in funding for critical metals development at its Macmillan Pass deposit from the Canadian and U.S governments (Fireweed Metals Corp. news release dated December 13, 2024). Nanisivik and Macmillan Pass share some aspects of geologic setting and contain a similar mix of metals. In addition, the massive pyrite body itself is a potentially economic resource as an industrial source of sulphuric acid. The construction of a deep-water port within only kilometres of the deposit makes this huge deposit of massive pyrite potentially economic in itself, in light of the foreseen global shortage of sulphuric acid. The Company will be commissioning a desk study to evaluate this possibility. There remains a great deal of available data that the Company is working its way through. Some of this may be appropriate for more advanced evaluation techniques, including AI tools. The Company will continue to issue updates on the results of these investigations.”

Deb Target

The Deb target area is located approximately 3 km southwest of the main orebody at Nanisivik. The Company has examined data from 15 drillholes completed in this area in the 1980’s and 1990’s. Significant silver (Ag) and zinc (Zn) intersections include; hole 90-51 which intersected 1.3m of 54.9 grams of silver per tonne (g/t Ag) and 5.74% Zn, hole 90-59 which intersected 0.7m of 263 g/t Ag and 34.6% Zn, and hole 91-19 which intersected 0.6m of 290 g/t Ag and 43.0% Zn.

Ocean View North Target

Similar to the Deb target (above), there are no indications of any mining having been completed at the Ocean View North target area, which is located approximately 1.7km east northeast from the main Nanisivik orebody and some 400m north of the historically mined main Ocean View zone (see Figure below). At the Ocean View North area, data from some 72 historical exploration drillholes was examined and a cluster of significant Ag-Zn intersections were identified at the northern extent of the drilling. Significant silver (Ag) and zinc (Zn) intersections at the Ocean View North target area include hole 87-63 intersected 5.3m of 97.6 g/t Ag and 22.79% Zn, hole 90-28 which intersected 1.3m of 116 g/t Ag and 20.3% Zn.

Area 14

The Area 14 target is located approximately ~1.8km southeast of the main Nanisivik orebody (see Figure below). Historical data indicates that a small stope was previously mined at Area 14.  However, Honey Badger has examined the data from a cluster of 27 historical drillholes located immediately east and northeast of the historically mined area where a number of significant Ag-Zn intersections have been identified, including; hole A14_85-08 which intersected 2.3m of 280.0 g/t Ag and 27.43% Zn, hole A14_85-10 which intersected 2.3m of 239.3 g/t Ag and 6.10% Zn, and hole 86-191 which intersected 3.0m of 143.3 g/t Ag and 26.16% Zn.

Massive Pyrite

The massive pyrite bodies, within which the mined mineralization and the new target areas occur, comprise over 100 million tonnes of massive sulphide, in addition to the almost 18 million tonnes that were mined between 1976 and 2002. They occur as linear, lenticular bodies of massive sulphide, at least 9 of which outcrop at surface. The map below shows the locations of the massive pyrite bodies.

Locations of Historical Drillholes with Significant Ag-Zn Intersections in Unmined Areas at the Nanisivik Project

Table of Historical Drillholes with Significant Ag-Zn Intersections at Unmined Areas at the Nanisivik Project

Locations of Massive Sulphide Bodies at the Nanisivik Project ⁽³⁾

Nanisivik Property

The Company has recently increased the size of its mineral tenure around the past producing Nanisivik Mine on Baffin Island, Nunavut, which now comprises a total of 14 mineral claims covering some 13,373.2 hectares (ha). The Company’s original Nanisivik Property comprised 4 claims totaling 5,722.8 ha that cover the former mine site. The company has staked an additional 10 claims totaling 7650.4 ha at and around the Nanisivik area. These claims cover geophysical anomalies identified during the Company’s review of the historic data base (see news release dated September 16, 2024). The new claims comprise a further 3 claims that have added 1174.2 ha to the original Nanisivik claim block, 2 claims (1710.4 ha) covering the Chris Creek target located approximately 19 km southeast of Nanisivik, and further 5 claims (4765.8 ha) covering historical geophysical anomalies (conductors) in and around the Adams Sound and Adams River target areas approximately 40 km and 55 km, respectively, southeast of Nanisivik.

About Nanisivik

The Nanisivik Mine (near Arctic Bay, Nunavut) produced over 20 million ounces of silver between 1976 and 2002, from 17.9 million tons of ore, grading 9% zinc, 0.72% lead, and 35 grams per tonne silver (3). In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite) still in place, totaling about 100 million tonnes (3), containing locally anomalous base metal and silver values.

Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company’s CEO (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.”

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

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 tocapital 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, February 24, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that based on geological and geophysical criteria, six (6) high priority exploration targets have been identified, comprising two (2) high priority conductors (R-6 and R-9), and 11 lower priority conductors located on the current Raptor claim block (see Figure 1) and an additional four (4) high priority conductors (M-1, M-2, M-3 and M-6) and 10 lower priority conductors located on the current main Yava claim (and lease) block (see Figure 2).   These targets have not yet been drill-tested.

Conductor M-3, located 1.25km northwest of the Yava Main Zone, has a 500m strike length and is associated at surface with mineralization in outcrop where a grab sample assay in 2007, returned values of 1.2 ppm gold (Au), 4,960 ppm silver (Ag), 3.5% lead (Pb) and 1.5% zinc (Zn)* (see Figure 3).

Another sample, collected in 2004, located 650 m north of the M-3 target/conductor, comprised sulphide-rich mineralization that was later named the Yava North Zone and returned analytical values of 0.17 ppm Au and 3,452 ppm Ag* (see Figure 3). Geological evidence suggests that the silver-rich sulphide mineralization at the M-3 and Yava North zones represent part of a significant volcanogenic massive sulphide (VMS) footwall stringer zone that appears to be a northwestern projection of the Yava Main Zone mineralized horizon.  This second mineralized system on the main Yava claim/lease block, along with the remainder of the strike extent of the Yava Main Zone mineralized horizon, represents an additional priority for future exploration at the property.

The identification of these targets enhances the discovery potential of the Yava Project, where the Company tripled its land position by staking claims over favorable ground shortly after acquiring the property in October 2024.

The Company’s CEO, Dorian L. (Dusty) Nicol, commented, “The identification of these targets confirms our belief that Yava has tremendous discovery potential above and beyond the currently identified historical resource.  The project’s location only 45 kilometres from Glencore’s Hackett River project, one of the largest undeveloped silver resources in the world (113 million ounces Indicated plus 232 million ounces Inferred) and on the same belt of volcanic rocks, testifies to the favorable geology and discovery potential of Yava.  We are continuing data review and planning a field program to field check these new targets and continue advancing Yava toward a new discovery.”

Figure 2. High and low priority geophysical targets on the Yava Main Zone claim/lease block.

Figure 3.  Yava Main Zone compilation with priority exploration targets.

*Grab rock samples, by their nature, are selective samples and may not represent underlying mineralization.

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

Dorian L. (Dusty) Nicol, CEO

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 tocapital 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,February 14, 2025 – Honey Badger Silver Inc.(TSXV:TUF | OTCQB:HBEIF) (“Honey Badger” or the “Company“)is pleased to report that all resolutions put forward at the Annual General and Special Meeting (the “Meeting”) of the Company’s shareholders held on February 14, 2025, as further described in the Company’s information circular dated January 10, 2025, were approved.

The approved resolutions include the approval of a new fixed equity incentive plan (the “Equity Plan”), which was approved by the Board of Directors onDecember 12, 2024, subject to regulatory and shareholder approval. Shareholders also approved the resolution approvingMr. Chad Williams, Non-Executive Chairman and Director of the Company as a “Control Person” of the Company as defined in the policies of the TSX Venture Exchange.

Equity Incentive Plan

The Company’s new Equity Plan governs the granting of any restricted share unit (RSU), performance share unit (PSU) or deferred share unit (DSU) (collectively the “Awards”) granted under the fixed Equity Plan, to directors, officers, employees and consultants of the Company or a subsidiary of the Company. The Company has reserved for issuance a fixed number of common shares of up 7,529,890common shares, being 10% of the issued and outstanding common shares at the record date of the Meeting.

Control Person

Disinterested Shareholders at the Meeting approved the creation of Chad Williams, as a Control Person of the Company. Mr. Williams holds 20,373,599 common shares of the Company, representing 27.1% of Company’s outstanding common shares on an undiluted basis.

Early Warning

Mr. Williamssubscribed for 2,307,692 Units in the first tranche of the Company’s private placement (the “Placement”) which closed on December 16, 2024, and a further 600,000 Units in the second tranche which closed on January 3, 2025, for a total of 2,907,692 Units at a price of $0.13 per Unit.   Each Unit was comprised of one common share and one share purchase warrant entitling Mr. Williams to acquire one additional common share at a price of $0.16 per share. These Units and Mr. William’s subscription proceeds were held in escrow pending the Company’s shareholders approving Mr. Williams as a Control Person. Following the approval of this resolution at the Meeting, the escrowed Units have been released to Mr. Williams and his subscription proceeds have been released to the Company.

Prior to his acquisition of Units in the Placement, Mr. Williams held 17,465,907 Common Shares representing approximately 25.8% of the Issuer’s then 67,769,478 issued and outstanding Common Shares and would have held approximately 34.1% of the Issuer’s issued and outstanding Common Shares if all ofthe 3,510,167 share purchase warrants and 2,100,158 stock options then held by him were exercised.

On completion of the Placement and the release to him from escrow of the Units he purchased in the Placement, Mr.Williams held 20,373,599 Common Shares representing approximately 27.1% of the Issuer’s then 75,298,900 issued and outstanding Common Shares and would have held approximately 38.4% of the Issuer’s issued and outstanding Common Shares if all ofhis 6,417,859 share purchase warrants and 2,100,158 stock optionswere exercised.

Mr. Williams has advised the Company that he acquired the Units he purchased in the Placement for investment purposes,  and that subject to applicable securities laws, may increase or decrease his ownership of securities of the Company from time to time depending on market conditions and/or other relevant factors.

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

Dorian L. (Dusty) Nicol, CEO

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 tocapital 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, February 13, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF) (“Honey Badger” or the “Company”) is pleased to announce that based on geological and geophysical criteria, six (6) high priority exploration targets have been identified, comprising two (2) high priority conductors (R-6 and R-9), and 11 lower priority conductors located on the current Raptor claim block (see Figure 1) and an additional four (4) high priority conductors (M-1, M-2, M-3 and M-6) and 10 lower priority conductors located on the current main Yava claim (and lease) block (see Figure 2).   These targets have not yet been drill-tested.

Conductor M-3, located 1.25km northwest of the Yava Main Zone, has a 500m strike length and is associated at surface with mineralization in outcrop where a grab sample assay in 2007, returned values of 1.2 ppm gold (Au), 4,960 ppm silver (Ag), 3.5% lead (Pb) and 1.5% zinc (Zn)* (see Figure 3).

Another sample, collected in 2004, located 650 m north of the M-3 target/conductor, comprised sulphide-rich mineralization that was later named the Yava North Zone and returned analytical values of 0.17 ppm Au and 3,452 ppm Ag* (see Figure 3). Geological evidence suggests that the silver-rich sulphide mineralization at the M-3 and Yava North zones represent part of a significant volcanogenic massive sulphide (VMS) footwall stringer zone that appears to be a northwestern projection of the Yava Main Zone mineralized horizon.  This second mineralized system on the main Yava claim/lease block, along with the remainder of the strike extent of the Yava Main Zone mineralized horizon, represents an additional priority for future exploration at the property.

The identification of these targets enhances the discovery potential of the Yava Project, where the Company tripled its land position by staking claims over favorable ground shortly after acquiring the property in October 2024.

The Company’s CEO, Dorian L. (Dusty) Nicol, commented, “The identification of these targets confirms our belief that Yava has tremendous discovery potential above and beyond the currently identified historical resource.  The project’s location only 45 kilometres from Glencore’s Hackett River project, one of the largest undeveloped silver resources in the world (113 million ounces Indicated plus 232 million ounces Inferred) and on the same belt of volcanic rocks, testifies to the favorable geology and discovery potential of Yava.  We are continuing data review and planning a field program to field check these new targets and continue advancing Yava toward a new discovery.”

*Grab rock samples, by their nature, are selective samples and may not represent underlying mineralization.

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

Dorian L. (Dusty) Nicol, CEO

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 tocapital 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,January 15, 2025 – Honey Badger Silver Inc.(TSXV:TUF | OTCQB:HBEIF) (“Honey Badger” or the “Company“),announces the appointment of Koby Kushner, P.Eng., CFA, to the Company’s Board of Directors, effective January 14, 2025.

Dorian L. (Dusty) Nicol, the Company’s CEO said, “We welcome Koby Kushner to our Board. Mr. Kusher is well regarded in the industry and bringshis entrepreneurial spirit and invaluable experienceto the Company as we implement our strategyto become a leading silver company.  Our current inventory includes 7 high grade silver projects in favorable jurisdictions comprising over 17 million ounces of silver Indicated and over 19 million ounces of silver Inferred, and over 343 million pounds of zinc Indicated and over 1.5 billion pounds of zinc Inferred, in historic resource.  His help will be invaluable as we continue to add value to our current assets while expanding and growing our portfolio of high-quality projects.”

Koby Kushner, P.Eng., CFA, has spent most of his career as a mining engineer and more recently, an equity research analyst. He is the co-founder and Chief Executive Officer of Libra Lithium, a private grassroots lithium exploration company. In his early years, Mr. Kushner worked at several mines in Ontario and Manitoba, including Hemlo (Barrick Gold), Detour, Rice Lake, and others. During this time, Mr. Kushner has seen projects advance through all stages of development, including exploration, production, and closure. He then moved into equity research at Red Cloud Securities, a mining-only investment bank, where he wrote on over 100 companies across various stages of development and a wide range of commodities, with a particular focus on precious and energy metals. He holds a BSc in Mining Engineering from Queen’s University, is a licensed Professional Engineer in the province of Ontario and is a CFA charterholder.

The Company also announces that Brian Briggs has resigned from Honey Badger’s Board of Directors effective January 14, 2025, in order to pursue other business interests.

“We thank Brian for his advice and counsel while he served as director of the Company and wish him the best in his future endeavours,” said the Company’s CEO.

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

Dorian L. (Dusty) Nicol, CEO

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 tocapital 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,January 6, 2025 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“)is pleased to announcethat is has closed the second and final tranche on Friday, January 3, 2025, of the non-brokered private placement previously announced on November 21, 2024, December 16, 2024and December 31, 2024(the “Offering“), through the issuance of 1,619,231 non-flow-through units (the “NFT Units”) at a purchase price of $0.13 per NFT Unit (the “NFT Offering Price”) and 465,000 flow-through shares (“FT Shares”) at a purchase price of $0.16 per FT Share (the “FT Offering Price”), for total aggregate proceeds of $284,900 (the “Second Tranche”).All dollar amounts in this news release are in Canadian funds.

The Company raised aggregate gross proceeds of $1,000,400, from the first tranche closed on December 16, 2024, and the Second Tranche, through the sale of:

• 6,276,923NFT Units for gross proceeds of $816,000; and
• 1,152,500 FT Shares for gross proceeds of $184,400.

Each NFT Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company for an exercise price of $0.18per share for a period of 36 months from its date of issuance.

Each FT Share will consist of one flow-through common share of the Company.

The Company will use the proceeds of the sale of FT Shares in the Offering to fund programs to advance one or more of the Company’s properties located in the Yukon, Northwest Territories, and Nunavut that will qualify, once renounced, as “flow-through mining expenditures”, as that term is defined in the Income Tax Act (Canada).The Company intends to use the net proceeds of the sale of the NFT Units to fund programs to advance one or more of the Company’s properties and for general and administrative purposes.

In connection with the Second Tranche, the Company paid aggregate cash finder’s fees of $5,514 and issued 27,900non-transferable finder’s warrants to certain arm’s length finders.

In total of the first and Second Tranche of the Offering, the Company paid an aggregate total of $12,764 and issued 79,775 non-transferrable finder warrants (“Finder Warrants”) in satisfaction of finder’s fees on the Offering. The Finder Warrants entitle the holders thereof to purchase one common share (a “Warrant Share”) of the Company at a price of C$0.18 per share for a period of thirty-six (36) months from its date of issuance.

The securities issued in connection with the Offering will be subject to a four-month and a day hold period. The Offering 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.

Insider Participation

Dorian L. (Dusty) Nicol, Chief Executive Officer and Director of the Companyand Chad Williams, Non-Executive Chairman and Director of the Company,participated in the Second Tranche of the Offering with Mr. Nicol subscribing for 384,615 NFT Units, and Mr. Williams subscribing for 600,000 NFT Unitswhich constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of Messer’sNicol and Williams in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company’s market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Offering, with Messer’sNicol and Williams declaring and abstaining from voting on the resolutions approving the Offering with respect to theirparticipation in the Offering. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

Mr. Williams’ aggregate participation in the Offering is 2,907,692 NFT Units. Mr. Nicol’s aggregate participation in the Offering is 384,615 NFT Units.

Mr. Williams is anticipated to become a new Control Person of the Company as a result of his participation in the Offering.The Company will be seeking disinterested shareholder approval for the creation of a new Control Person, at the Annual General and Special Meeting of shareholders to be held on February 14, 2025.

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

Dorian L. (Dusty) Nicol, CEO

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 the anticipated completion of the Offering, 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,December 31, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) provides further information respecting its non-brokered placement which was the subject of its news releases of November 21 and December 16, 2024 (the “Offering”).

TheCompany intends to close on aggregate gross proceeds of $1,000,400, from the sale of:

• 6,276,923non-flow through units (“NFT Units”) at a purchase price of $0.13 per NFT Unit (the “NFT Offering Price”) for gross proceeds of $816,000; and
• 1,152,500 flow-through shares (“FT Shares”) at a price of $0.16 per FT Share (the “FT Offering Price”) for gross proceeds of $184,400.

As previously described, the Company anticipates that, upon the closing of additional tranches, the Offering will consist of a combination of NFT Units at the NFT Offering Price, and FT Shares at the FT Offering Price.

Each NFT Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company for an exercise price of $0.18 per share for a period of thirty-six (36) months from its date of issuance.

Each FT Share will consist of one flow-through common share of the Company.

The Company will use the proceeds of the sale of FT Shares in the Offering to fund programs to advance one or more of the Company’s properties located in the Yukon, Northwest Territories, and Nunavut that will qualify, once renounced, as “flow-through mining expenditures”, as that term is defined in the Income Tax Act (Canada). The Company intends to use the net proceeds of the sale of the NFT Units to fund programs to advance one or more of the Company’s properties 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 subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXVenture Exchange. Finder’s fees will be payable in the Offering.

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

Dorian L. (Dusty) Nicol, CEO

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 the anticipated completion of the Offering, 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, December 16, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“) is pleased to announce that is has closed the first tranche of the non-brokered private placement previously announced on November 21, 2024 (the “Offering“), through the issuance of 4,657,692 non-flow-through units (the “NFT Units”) at a purchase price of $0.13 per NFT Unit (the “NFT Offering Price”) and 687,500 flow-through shares (“FT Shares”) at a purchase price of $0.16 per FT Share (the “FT Offering Price”), for total aggregate proceeds of $715,500 (the “First Tranche”). All dollar amounts in this news release are in Canadian funds.  

As previously described, the Company anticipates that, upon the closing of additional tranches, the Offering will consist of a combination of NFT Units at the NFT Offering Price, and FT Shares at the FT Offering Price.

Each NFT Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company for an exercise price of $0.18 per share for a period of 36 months from its date of issuance. 

Each FT Share will consist of one flow-through common share of the Company. 

The Company will use the proceeds of the sale of FT Shares in the Offering to fund programs to advance one or more of the Company’s properties located in the Yukon, Northwest Territories, and Nunavut that will qualify, once renounced, as “flow-through mining expenditures”, as that term is defined in the Income Tax Act (Canada). The Company intends to use the net proceeds of the sale of the NFT Units to fund programs to advance one or more of the Company’s properties and for general and administrative purposes. 

In connection with the First Tranche, the Company paid aggregate cash finder’s fees of $7,250 and issued 51,875 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$0.18 per share for a period of 36 months from its date of issuance.

The securities issued in connection with the Offering will be subject to a four-month and a day hold period. The Offering 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. Additional finder’s fees may be payable in connection with the Offering.

Insider Participation

Chad Williams, Non-Executive Chairman and Director of the Company participated in the First Tranche of the Offering by subscribing for 2,307,692 NFT Units, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of Mr. Williams in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company’s market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Offering, with Mr. Williams declaring and abstaining from voting on the resolutions approving the Offering with respect to his participation in the Offering. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto. 

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

Dorian L. (Dusty) Nicol, CEO

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 the anticipated completion of the Offering, 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.