Toronto, Ontario – April 27, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has signed a letter of intent (the “LOI”) with Romios Gold Resources Inc. (“Romios Gold”; CVE: RG) to acquire an 80% interest and control of 1,870 hectares (4,620 acres) in 87 mining claims covering additional historic silver properties in the Thunder Bay Silver District.

These new claims comprise substantial portions of the historic Victoria Mine and Federal Mine silver properties, plus the Lily of the Valley, Caribou and Cloud Bay prospects (collectively the “Properties”) see Figure 1.

“These Properties add to Honey Badger Silver’s clear strategic position in this famed historic high-grade silver camp; this latest acquisition is a further illustration of Honey Badger Silver’s strategy to create a high-value/high-growth silver company,” said Chad Williams, Chairman & CEO.  “Importantly, all of our projects are located along trend and within the two primary corridors hosting most of the Thunder Bay Silver District’s richest silver mines.”

LOI Terms

In consideration for an 80% interest in the project, Honey Badger Silver has agreed to: a) issue shares of the Company to Romios Gold for a value of $150,000 at a price equal to the volume weighted average price of its common shares, trading on the TSXV for the thirty trading days immediately preceding the date of the transaction’s announcement, and b) free-carry all costs and expenses related to the maintenance and advancement of the Project to pre-feasibility.  Romios Gold shall grant a right of first refusal to Honey Badger Silver on its 20% remaining interest, post-transaction.  If any party is diluted to a 10% or less interest in the joint venture, such party’s interest shall be converted to a 2% net smelter return royalty (2% NSR).

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

Qualified Person

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., a Qualified Person as defined by National Instrument 43-101. Mr. Biczok has extensive experience exploring for a wide variety of ore deposit types across Canada and India, including a silver project in Yukon, and has visited the four most significant silver prospects described in this release.

For more information, please visit our website above, or contact:  Ms. Christina Slater at [email protected].

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

 About Honey Badger Silver Inc.

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

 Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release.  The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”.

Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical

fact and may be forward-looking information and are intended to identify forward-looking information.

 This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

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

                                                                           Figure 1 – Thunder Bay Silver Position   

Toronto, Ontario – April 8, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has engaged Sharechest™ Inc., an innovative proprietary technology company that empowers issuers to use their existing on-line presence to streamline and simplify communications between management and investors.

As an example, investors that are interested in connecting with Honey Badger Silver on matters relating to its current ‘live’ flow-through financing of $1.5 million previously announced (see press release of March 9, 2021) may do so through the Sharechest Connector on Honey Badger’s website, www.honeybadgersilver.com.

For further information on Sharechest, please visit www.sharechest.io.

Chad Williams is a director and shareholder of  Sharechest™ Inc.

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

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

About Honey Badger Silver Inc.

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

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

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Ontario – March 31, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) announces the resignation of Mr. Ed Baer from the Board of Directors of the Company. The Company would like to sincerely thank Mr. Baer for his contribution and services as a director and wishes him all the best in his future endeavours.

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

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

About Honey Badger Silver Inc.

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

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

Toronto, Ontario – March 23, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) announces that the Board of Directors has approved the grant of stock options to directors, officers, employees and consultants of the Company allowing for the acquisition of up to, in the aggregate, 6,175,000 shares of the Company. The grant is pursuant and subject to the terms and conditions of the Company’s existing stock option plan.  The options are exercisable at a price of $0.12 per share for a period of five years from the date of grant and are subject to the approval of the TSX Venture Exchange and all regulatory approvals.

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

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

About Honey Badger Silver Inc.

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

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

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.   

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

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

Toronto, Ontario – March 18, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has closed the non-brokered private placement offering (the “Private Placement” or the “Financing”) announced on February 18, 2021.  The over-subscribed private placement resulted in the issuance of 42.86 million units for aggregate gross proceeds of $3,000,000.

Each Unit was priced at $0.07 and consists of one (1) common share in the capital of the Company (“Common Share”) and one-half of one (0.5) Common Share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant entitles the holder to acquire one (1) additional Common Share at a price of $0.10 for a period of three years from the date of closing of the Financing.

Mr. Eric Sprott through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 14,285,714 Units pursuant to the Private Placement for total consideration of $1,000,000.

Prior to the Offering, Mr. Sprott beneficially owned or controlled 2,500,000 common shares and 2,500,000 Warrants of the Company. Following the closing of the Private Placement, Mr. Sprott beneficially owns or controls 16,785,714 common shares of the Company and 9,642,857 Warrants, representing approximately 12.2% of the issued and outstanding shares of the Company on a non-diluted basis and approximately 17.9% of the issued and outstanding shares of the Company on a partially diluted basis assuming exercise of the Warrants.

The Units were acquired by Mr. Sprott for investment purposes.  Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.

A copy of the applicable early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

Chad Williams, Chairman of Honey Badger Silver acquired 10% or 4,285,714 Units pursuant to the Private Placement for total consideration of $300,000. Mr. Williams voluntarily reduced his subscription to accommodate the high demand from other investors. He now owns or controls 13,610,714 Common Shares or approximately 9.9% of the outstanding Honey Badger shares on an undiluted basis and approximately 16.5% on a partially diluted basis assuming the exercise of Warrants.

The securities issued and issuable pursuant to the Financing will be subject to a four month and one day hold period.  The Company intends to use the net proceeds from the financing to advance exploration work on its Thunder Bay Silver portfolio and for general working capital purposes.  The Private Placement remains subject to TSX Venture Exchange (the “TSXV”) final acceptance.

Closing was concurrent with the execution of the definitive agreement relating to the acquisition of the Hy, Groundhog and Plata properties located in southeast and south-central Yukon from Strategic Metals Inc. (see news releases dated March 15 and February 11, 2021 for more details).

Live Flow-through Private Placement

Investors interested in participating in the previously announced live flow-through private placement equity financing anticipated to close on or before March 25, 2021 are requested to contact the Company at [email protected].

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

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

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

About Honey Badger Silver Inc.

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

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release.  The information in this news release about the closing of the Offering); the demand for Units; the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”.

 Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

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

Toronto, Ontario – March 15, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it signed a definitive agreement (the “Agreement”) on March 12, 2021 with Strategic Metals Ltd. (“Strategic Metals”; TSX-V: SMD), pursuant to which Honey Badger Silver has agreed to acquire 100% of Strategic Metals’ right, title and interest in three advanced silver-focused properties located in southeast and south-central Yukon, Canada (the “Acquisition”). The Agreement follows the announcement of a letter of intent between the parties regarding the Acquisition (please refer to the Company’s news release dated February 11, 2021 for more details).

The properties comprise the Plata, Groundhog and Hy, each located in proximity to major historical silver camps or workings and at such a stage as to be reasonably considered cost-effective to further advance (please refer to the Company’s press release of February 11, 2021 for property details).

Chad Williams, Chairman of Honey Badger Silver commented, “The Yukon properties present a stellar complement to our Thunder Bay portfolio and position the Company to be a top-tier silver pure play vehicle for exceptional growth.”

In consideration for 100% interest in the properties, Honey Badger Silver has agreed to issue to Strategic Metals 34,762,104 common shares in the capital of Honey Badger Silver, being 19.9% of the issued and outstanding common shares of the Company after the closing of the previously announced unit offering (the “Offering”) for gross proceeds of $3 million (see news release dated February 18, 2021), which is a condition precedent of the Acquisition, and the closing of the Acquisition.

The Acquisition is expected to close on or before April 30, 2021.  The Acquisition and Offering remain subject to the approval of TSX Venture Exchange.

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

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

About Honey Badger Silver Inc.

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

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

Cautionary Note Regarding Forward-Looking Information

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

Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, the Company’s ability to complete the Offering and the Acquisition; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver’s issuer profile.

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

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Ontario – March 9, 2021 – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce a non-brokered flow-through equity financing for aggregate proceeds of $1.5 million (the “Flow-Through Offering”). The Flow-Through Offering will consist of 10 million shares (the “Flow-Through Shares”) that qualify as flow-through shares for purposes of the Income Tax Act (Canada), at a price of $0.15 per Flow-Through Share.

The Flow-Through Offering is in addition to the previously announced non-brokered private placement of February 18, 2021 for aggregate gross proceeds of $3,000,000 which is expected to be closed concurrently with the Flow-Through Offering.

The Flow-Through Shares will be offered to “accredited investors” under National Instrument 45-106 – Prospectus Exemptions.

The gross proceeds raised from the sale of the Offering will be used by Honey Badger Silver to fund exploration programs on its Thunder Bay District properties that qualify as “Canadian Exploration Expenses” (“CEE”) and, once renounced, shall qualify as “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), and as “eligible Ontario mining expenditures” within the meaning of s. 103(4) of the Taxation Act (2007).

The closing of the Flow-Through Offering is expected to occur on or before March 25, 2021 (the “Closing Date”) and is subject to the completion of formal documentation and receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. The Flow-Through Shares to be issued under the Offering will be subject to a statutory hold period of four months and one day from the Closing Date.

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 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 (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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

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

About Honey Badger Silver Inc.

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

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release.  The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”.

 Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

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

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

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

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

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

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

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

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

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

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

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

About Honey Badger Silver Inc.

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

Cautionary Note Regarding Forward-Looking Information

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

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

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

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

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

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

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

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

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

The Properties

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

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

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

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

LOI Terms

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

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

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

Other

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

References:

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

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

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

About Honey Badger Silver Inc.

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

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

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

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

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

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.