March 20, 2024

White Rock, British Columbia, March 20, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“), is pleased to announce an offering to raise up to $1,000,000 by way of a non-brokered private placement (the “Offering”). All dollar amounts are in Canadian funds.

The Offering will consist of a combination of non-flow-through units (the “NFT Units”) at a price of $0.05 per NFT Unit and flow-through shares (the “FT Shares”) at a price of $0.065 per FT Share, for aggregate proceeds of up to $1,000,000.

The Offering:

  • Each NFT Unit will consist of one non-flow-through common share of the Company and one-half of 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 $0.065 per share for a period of 18 months from the date of closing.
  • Each FT Share will consist of one flow-through common share of the Company at a price of $0.065 per FT Share.

The Company will use the proceeds of the sale of FT Shares in the Offering to fund exploration programs on one or more of the Company’s exploration properties located in the Yukon, Northwest Territories, and Nunavut that will qualify as “Canadian Exploration Expenses” and once renounced, “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada).  The Company intends to use the net proceeds of the sale of the NFT Units to fund exploration programs 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 TSX Venture Exchange.  Finder’s fees will be payable in the Offering.

Insider Participation

Chad Williams, Non-Executive Chairman of Honey Badger, has advised the Company that he intends to subscribe for a significant portion of the Offering.  Additional insiders may also participate in the Offering.  Insiders’ participation in the Offering 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 relying on the exemption from minority shareholder approval requirements under MI 61-101, as the fair market value of the insiders’ participation in the Offering does not exceed 25% of the market capitalization of the Company.

Caution to US Investors

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

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver Indicated and 13.9 Moz of silver 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)

 

  • 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.
  • Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
  • 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.”
  • A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886.

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.



March 7, 2024

White Rock, British Columbia, March 7, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“), is pleased to announce that it will be hosting a Live Webinar on Wednesday, March 13th at 1:30PM EST to discuss similarities between Honey Badger’s wholly owned Plata Project and the adjacent Rogue Project held by Snowline Gold. To attend the Webinar, please click here to register.

The Company’s CEO, Dorian L. (Dusty) Nicol, commented, “Plata hosts spectacular high grade silver mineralization.   Recent mapping, compilation, and interpretation lead to the conclusion that Plata‘s geologic setting is similar to that of Snowline Gold’s adjacent Rogue Project. We now interpret Plata as being related to the same style of mineralization (“Reduced Intrusion Related Gold Deposit”) as the Valley discovery within the Rogue Project.  Our observations at Plata fit into a mineralization zoning model indicating that silver mineralization at Plata is the periphery of a RIRGS mineralizing system, while geophysics suggests the presence of a buried intrusive. This significantly expands the discovery potential at Plata and led to the acquisition of additional claims (see News Release dated March 5, 2024).  We look forward to presenting this concept in more detail during our upcoming webinar.”

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 Indicated and 13.9 Moz of silver 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)

  • 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.
  • Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
  • 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.”
  • A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.


ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886.

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.



March 5, 2024

White Rock, British Columbia, March 05, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“), announces the acquisition of additional claims adjacent to its wholly owned Plata Project in the Yukon Territory.  Recent compilation work on the Company’s Plata Project has confirmed similarities to the adjacent exciting Rogue Project owned by Snowline Gold (TSXV: SGD). Rogue appears to be one of the most exciting and potentially one of the largest recent mineral discoveries anywhere in the world.

Honey Badger’s CEO, Dorian L. (Dusty) Nicol, commented, “Plata hosts spectacular high grade silver mineralization, traditionally interpreted as a Keno Hill analogue.   Recent mapping and compilation work confirm the similarity of Plata geology to the geologic setting at Snowline Gold’s adjacent Rogue Project where, about 30km east of Plata at the Valley discovery, recent drilling has intersected exceptional gold intercepts such as 2.48 gpt Au over 553.8 meters.  G eologic mapping during the last field season led to our current interpretation of Plata as being related to the same style of mineralization (“Reduced Intrusion Related Gold System” or RIRGS) as at Valley.  Our observations at Plata fit into a mineralization zoning model indicating that surface vein mineralization at Plata is the periphery of a RIRGS mineralizing system.  This significantly expands the discovery potential at Plata.  Our new claims cover a geophysical magnetic low which we interpret as representing a possible buried intrusion that fed the mineralizing system.”

The new claims are adjacent to the Plata Project, comprise 69 individual claims covering 1,430 hectares, and cover the heart of the geophysical magnetic low (See Figure 1).

 

Figure 2 shows the location of the Plata claims in relation to Snowline’s Rogue Project.

The claims were staked by ECEE Money Ltd. (“ECEE”), a private corporation controlled by W. Douglas Eaton, a former director of Honey Badger, with the concurrence and knowledge of Honey Badger.  ECEE has transferred ownership of the claims to Honey Badger at no cost, subject to a 2% net smelter royalty (“NSR”) on future commercial gold production.  The NSR applies only to gold.

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 Indicated and 13.9 Moz of silver 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)

  • 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.
  • Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
  • 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.”
  • A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886.

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.



February 27, 2024

White Rock, British Columbia, February 27, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“), announces that W. Douglas (Doug) Eaton has resigned from Honey Badger’s Board of Directors effective today, in order to pursue other business interests.

Dorian L. (Dusty) Nicol, the Company’s CEO said, “We thank Doug for his advice and counsel while he served as director of the Company.  We are in advanced discussions with several high-quality potential replacements and expect to make an announcement shortly.”

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 26.7 Moz of silver (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill. 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)

(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.  This represents contained silver of approximately 12.8 million ounces Indicated and 13.9 million ounces Inferred.  

(2)    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.”

(3)    A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886.

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.



February 12, 2024

White Rock, British Columbia, February 12, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“), announces that effective February 9, 2024, Dorian L. (Dusty) Nicol was appointed as CEO and a Director of the Company. Mr. Nicol had been appointed interim CEO on July 31, 2023.

Mr. Nicol commented, “I am pleased to continue in the role of CEO of Honey Badger Silver as we implement our unique strategy of building value in the silver space. With 2024 forecast to be the fourth consecutive year of significant deficits in the silver market, our company and our shareholders are well positioned to benefit from what we believe is a likely near-term increase in the price of silver.

Honey Badger Retains Market Making Services

The Company also announces that, subject to regulatory approval, it has retained Independent Trading Group (ITG) Inc. (“ITG”) to provide market-making service and to provide assistance in maintaining an orderly trading market for the common shares of the Company to replace Venture Liquidity Providers Inc. in this role with effect from January 18, 2024.

The market-making service will be undertaken by ITG a registered broker in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, Honey Badger has agreed to pay ITG $5,000 per month (the “Initial Term”) with the agreement renewing each subsequent month (the “Additional Term”) unless each party provides at least thirty (30) days written notice prior to the end of the Initial Term or Additional Term, as applicable. Honey Badger and ITG act at arm’s length, and ITG has no present interest, directly or indirectly, in Honey Badger or its securities. There are no performance factors contained in the agreement between ITG and the Company and ITG will not receive any shares or options from the Company as compensation for services it will render.

About Independent Trading Group (ITG) Inc.

Independent Trading Group specializes in market maintenance services and has been providing its market maintenance services to companies ranging from TSX Venture Exchange listed companies to certain of Canada’s largest publicly traded companies for over 20 years. Independent Trading Group is a member of the Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF), and is a member of all Canadian Stock Exchanges and Alternative Trading Systems. For further information on ITG, please contact +1 (416) 583-5987 or [email protected].

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 26.7 Moz of silver (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill. 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)

(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.  This represents contained silver of approximately 12.8 million ounces Indicated and 13.9 million ounces Inferred.  

(2)    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.”

(3)    A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886.

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.



January 23, 2024

White Rock, British Columbia, January 23, 2024 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“), a Canadian-based company with silver projects in Canada, including the Nanisivik Project in Nunavut, reports that as of January 18th, 2024, the Canadian government has passed revisions to its mining laws aimed at boosting exploration and development in Canada’s northernmost region. The Canadian government has transferred control of mineral reserves in the Territory to the legislative assembly of Nunavut, which will now dictate economic terms for companies operating in the region. The move is expected to boost mineral exploration and development in the Territory.

The Company’s CEO, Dorian L. (Dusty) Nicol, commented, “We view this development as extremely positive for our wholly owned Nanisivik Project (the “Project”) and for mineral explorers and developers operating in Nunavut as a whole. Honey Badger continues to focus on growing the Project to an eventual resource of up to 100 million ounces of silver at a grade of 30-50 g/t.  Our target is based on the large tonnages of pyrite bodies at Nanisivik containing anomalous concentrations of silver as well as, locally, germanium, gallium, and indium, which have not been evaluated in the context of current metals prices. In addition, with the construction of a deep-sea port adjacent to Nanisivik, the pyrite bodies themselves may have significant commercial value. Nanisivik could become one of the few turnkey projects in the region with strong leverage to increasing silver prices and could be a key component of development in one of Canada’s most sparsely populated regions.

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 ton silver (1). In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons (1,2), containing base metal and silver values not economic at the time.

  1. Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley-type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.
  2. A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

Amended Stock Option Plan

The Company has amended its 10% rolling stock option plan (the “Amended Option Plan“) to comply with the requirements of the new TSX Venture Exchange (the “Exchange“) policy governing security-based compensation which became effective on November 24, 2021. The most significant change introduced by the new policy, and is included in the Amended Option Plan, permits the exercise of stock options which are “in the money” by eligible participants, without the holder being required to have the requisite funds to exercise such stock options, through the addition of a cashless exercise and a net exercise component, and more closely aligns with plans permitted by the Exchange.

The shareholders ratified the Amended Option Plan at the Company’s annual meeting of shareholders held on December 15, 2022 (the “Meeting”). Additional details regarding the amendments are contained in the management information circular filed on SEDAR+ (www.sedarplus.ca) on November 15, 2022, in respect of the Meeting.

The Amended Option Plan remains subject to final acceptance of the Exchange.

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 based in White Rock, British Columbia focused on the accretive acquisition and development of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and our Sunrise Lake exploration property located in the Northwest Territories, 130 kilometers northeast of Yellowknife. 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.(1,2) Honey Badger Silver is positioned to be a top tier silver company with our unique approach of acquiring silver resources and prospective ground at low cost and adding value by targeted exploration on the steepest parts of the value-addition curve. Our objective is to demonstrate the value / prospectiveness of our silver projects in order to attract joint venture partners who will spend their money to advance our projects while we retain a royalty on the silver.

  • Geological and Powis.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886

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.


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December 4, 2023

Toronto, Ontario, December 4, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“) is pleased to announce the appointment of Dan O’Brien as the Company’s Chief Financial Officer (CFO), effective immediately. Mr. O’Brien replaces the Company’s outgoing CFO, Donna McLean.

Dorian L. (Dusty) Nicol, CEO of Honey Badger stated, “I would like to welcome Dan O’Brien as our new CFO. He brings a depth of experience in financial reporting and business management that will be of great benefit to our Company. I would also like to thank Donna for her commitment and many contributions to the Company and we wish her the best in her future endeavours.”

Mr. O’Brien is a member of the Institute of Chartered Professional Accountants of British Columbia and has 20 years’ experience working with public companies in the resource industry. He is also the Chief Financial Officer for a number of publicly listed exploration companies trading on the TSX-V exchange. Mr. O’Brien was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector.

Mr. O’Brien will be joined by Ben Meyer who will be replacing Namrata Malhotra as Corporate Secretary for the Company.

Mr. Meyer has over 10 years’ experience in corporate compliance for publicly listed mineral exploration companies trading on the TSX-V and TSX stock exchanges. He has been a Paralegal since 2019, after completing the Legal Administrative Assistant and Paralegal programs at the University of the Fraser Valley with distinction.

About Honey Badger Silver Inc.

Honey Badger is a Canadian silver company focused on the acquisition, development, and integration of accretive transactions of silver ounces. The Company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team, with significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district. The Company also owns the historic producing Nanisivik Mine in Nunavut, which has a historic resource. 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 ton silver (1) . In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons (1,2) , containing base metal and silver values not economic at the time. Honey Badger is positioning to be a top-tier silver company.

1) Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valleytype Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.
(2) A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not
treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including
verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | [email protected] | +1 (604) 828-5886

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 forwardlooking 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.


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October 17, 2023

, Ontario, October 17, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“) announces that on October 16, 2023, it signed a Purchase Agreement with SSR Mining Inc. (“SSR”) to acquire 100% of SSR’s Sunrise Lake Silver Project (“Sunrise Lake”) in the Northwest Territories. Sunrise Lake contains a historic silver resource of approximately 12.8 million ounces in the Indicated category plus 13.9 million ounces Inferred. This is a significant step in Honey Badger’s ongoing strategy to acquire quality silver projects at low cost in favorable and low-risk jurisdictions.

Terms of the acquisition are that the Company is acquiring Sunrise Lake for zero cash consideration. SSR will retain a 4% net smelter royalty (NSR) on any future production from the project.  Half (2%) of this NSR can be purchased by Honey Badger at any time prior to commencement of construction at the project for US$ 10 million, but the Company has no obligation to do so.

The Company’s CEO, Dorian L. (Dusty) Nicol, commented, “Our corporate strategy is based on our thesis that the price of silver is poised for an increase because of increased silver demand for solar panel use and as a financial asset coupled with challenging mine supply issues (Silver Instistute’s World Silver Survey, 2023).  By continuing to acquire high-quality silver projects at a low cost in favorable jurisdictions as the mining industry continues to struggle, we are positioning our shareholders for an increase in value when/if the price of silver increases.  For investors who believe in the future of silver, shares of Honey Badger offer high exposure to silver price increases.  Sunrise Lake fits perfectly into our strategy!  In addition to the historical resource defined to date, we believe the project has exploration potential, is being acquired for no cash consideration, and has minimal annual holding costs.  Significant work was done by previous owners defining the current resource, including the completion of over 20,000 meteres of diamond drilling.”

Cachinal Update

The Company will not be proceeding with the proposed acquisition of the Cachinal Project, Chile (see news releases dated February 15 and August 11, 2023), and the purchase agreement between the Company and Aftermath Silver Inc. has lapsed.

Romios Update

The Company has determined that it is not in the Company’s best interests to proceed with the further exploration of the mineral rights located in northwestern Ontario which it acquired from Romios Gold Resources (“Romios”), and it has terminated the agreement with Romios which was the subject of its news releases dated June 10, 2021 and July 26, 2021 (the “Romios APA”).  The Company plans to transfer the properties back to Romios in accordance with the terms of the Romios APA.

About Sunrise Lake

Sunrise Lake is located in the Northwest Territories, Canada, 130 kilometers northeast of Yellowknife, and hosts silver-gold and base metal mineralization outlined by 21,774 meters of surface diamond drilling since its discovery in 1987. The Sunrise Lake deposit is a volcanogenic massive sulphide deposit comprising a steeply dipping lens three-to-four meters thick, 120 meters wide and 190 meters long. Underlying the mineralization is lower grade disseminated mineralization up to about 50 meters in thickness.  Numerous exploration targets have been identified on the property.  The project comprises six contiguous mining leases totaling 1,621 hectares, with annual
lease payments of about $8,000 and no minimum work commitments.

Sunrise Lake has an estimated historical resource comprising 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.  This represents contained silver of approximately 12.8 million ounces Indicated and 13.9 million ounces Inferred.  Expressed as silver equivalent ounces(1), the contained metal isapproximately28.7million ounces silver equivalent Indicated and 35 million ounces silver equivalent Inferred.

  • Silver equivalent (Ag eq) ounces were calculated assuming 100% metallurgical recoveries and metal prices of silver $23/ounce; gold $1,920/ounce; zinc $1.14/pound; lead $1.00/pound; and copper $3.80/pound.


Comments on the Mineral Resource Estimate

 

The mineral resource estimate quoted above was prepared by Roscoe Postle Associates Inc. for Silver Standard Resources Inc. in 2003.  It is classed as a historic mineral resource estimate.  A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic resource estimate cannot be relied upon.  Additional work, including verification drilling / sampling and remodeling, will be required to verify the estimate as a current mineral resource.  In addition, the assessment of economic viability would need to be redone using current or foreseeable metals prices, which are higher than those used in the 2003 estimate.

Resources in this historical resource estimate were estimated using a classical polygonal method.  Intercepts were composited primarily using a geological cut-off based on the sulphide content and a nominal 30 g/t Ag grade. Internal values below 30 g/t were included for geological continuity if the composite remained above cut-off.  The following metals prices were assumed: silver US$5.50 per ounce; gold US$400 per ounce; zinc US$0.45 per pound; lead US$0.25 per pound; and copper US$0.80 per pound.

 

A portion of the mineral resource at Sunrise Lake is not compliant with NI 43-101 guidelines due to missing QA/QC data and density measurements in the historic data base.  QA/AC and density questions could be addressed by twinning a limited number of significant historic mineralized intercepts.

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 Canadian silver company based in Toronto, Ontario, that is focused on the acquisition, development, and integration of accretive transactions of silver ounces. The Company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district.  The Company also owns the historic producing Nanisivik Mine in Nunavut, which has a historic resource.  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 ton silver(2) . In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons(2,3) , containing base metal and silver values not economic
at the time.  Honey Badger Silver is positioning to be a top-tier silver company.

 

  • Geological Survey of Canada, 2002-C22, “Structural and Startigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley-type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.
  • A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, President & CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |[email protected]|  +1(604) 828-5886

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. Forward-looking information in this news release includes statements regarding: the structure and anticipated benefits of completing the acquisition of the Cachinal Project (including historical resource estimate and possible positive effects on cash-flow); and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger 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.sedar.com) 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.


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September 18, 2023

Toronto, Ontario, September 18, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“) announces its plans for exploration work on its wholly owned Nanisivik Project near Arctic Bay, Nunavut. The Company staked claims totaling 5,723 hectares over the Nanisivik Mine area in 2022. 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 ton silver (1) . In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons (1,2) , containing base metal and silver values not economic at the time.

The Company’s CEO, Dorian L. (Dusty) Nicol commented, “Our target at Nanisivik is an eventual resource of up to 100 million ounces of silver at a grade of 30-50 grams per ton silver. The prospectivity is supported by the reported large tonnages of pyrite bodies at Nanisivik containing anomalous concentrations of silver as well as, locally, germanium, gallium, and indium. These have not been evaluated in light of current metals prices. Our objective is to evaluate these zones to ascertain whether, in light of current metals prices, there may be concentrations of commercial interest. In addition, with a deep-sea port being constructed adjacent to the Nanisivik Mine, the pyrite bodies themselves may have significant commercial value.”

Honey Badger has mobilized a team to undertake initial mapping and sampling of the outcropping massive sulphide target. Results of this field work will be reported as they are received.

The Company also announces that the Board of Directors has approved the grant of options to directors, officers, employees, and consultants of the Company for the purchase of up to 549,000 shares in the Company exercisable at a price of $0.09 for a period of five years from date of grant. The grant is pursuant and subject to the terms and conditions of the Company’s existing stock option plan and is subject to the approval of the TSX Venture Exchange and all regulatory requirements.

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company’s CEO (PG, FAusIMM), and Qualified Person (QP) for the purpose of National Instrument 43-101.

Reference:

  1. Geological Survey of Canada, 2002-C22, “Structural and Startigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley-type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.
  2. A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

About Honey Badger Silver Inc.

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

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, President & CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |  [email protected]  |  +1 (604) 828-5886

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. Forward-looking information in this news release includes statements regarding: the structure and anticipated benefits of completing the acquisition of the Cachinal Project (including historical resource estimate and possible positive effects on cash-flow); and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger 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.sedar.com) 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.

 

 

 


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August 24, 2023

Toronto, Ontario, August 24, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company“)is pleased to provide an update on its ongoing exploration work at its wholly owned Plata Silver Project, Yukon.  The project is located in eastern Yukon, adjacent to Snowline Gold Corp.’s Rogue Project.  Field work completed this year was undertaken by a crew contracted from Archer Cathro & Associates (1981) Limited and included prospecting, geological mapping, and geochemical sampling.  A total of 308 soil and 56 rock chip samples were collected and are being assayed.  Assay results will be released when they have been received and interpreted.  The objective of this year’s field program was to further define the exploration targets at Plata and to define drill targets for future testing.

The Company’s CEO, Dorian L. (Dusty) Nicol, commented, “We remain very excited about the exploration potential at our Plata Project.  Our confidence in Plata’s potential has been fueled by recent announcements by Snowline Gold Corp.from their Rogue Project, adjacent to Plata.  Our geologic mapping this year continues to identify mineralization in a geologic setting similar to Rogue, associated with structures that provided pathways for mineralizing fluids from intrusions.  We look forward to receiving the assay results from this season’s sampling so that we can interpret them and plan the next steps of work.  Meanwhile, the field crews have mobilized to our Groundhog andClear Lake projects.”

Multiple new zones of mineralization were observed during the program, associated with previously identified soil geochemical anomalies.  Mineralization observed comprised sulphides and iron oxides associated with silicification and quartz-veining.  Field observations will be collated with assay data when they become available.  This will lead to recommendations for the next phase of work on this project.

The map below shows the location of the Company’s Plata Project in relation to Snowline Gold Corp.’s Rogue Project, where significant gold mineralization is being discovered, including a drill intercept of  553.8 metres of 2.48 g/t Au, beginning from surface (Snowline Gold News Release dated August 3, 2023).  Mineralization at Rogue is associated with Cretaceous-age intrusive rocks that comprise the Tintina Belt of gold deposits, including the Fort Knox in Alaska and Eagle deposits near Mayo in Yukon.  The geologic setting at Plata is similar, with evidence of intrusive rocks of the same age and fracture and vein style mineralization.

 

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

 

About Honey Badger Silver Inc.

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

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, President & CEO

For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations |[email protected]|  +1(604) 828-5886

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. Forward-looking information in this news release includes statements regarding: the structure and anticipated benefits of completing the acquisition of the Cachinal Project (including historical resource estimate and possible positive effects on cash-flow); and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger 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.sedar.com) 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.


Unit 1 – 15782 Marine Drive

White Rock, British Columbia V4B 1E6

+1 (647) 498 – 8244

www.honeybadgersilver.com

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