Honey Badger’s Historic Silver Advantage

February 3, 2021

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

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

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

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

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

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

About Honey Badger Silver Inc.

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

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

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

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

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

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



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