Mr. Dorian Nicol reports

HONEY BADGER SILVER INC. PROVIDES UPDATE ON POTENTIAL ACQUISITION OF THE CACHINAL SILVER DEPOSIT IN CHILE

Honey Badger Silver Inc. has provided an update with respect to the proposed acquisition by the company of the 100-per-cent interest in the Cachinal De La Sierra silver-gold project from Aftermath Silver Ltd. The execution by the parties of a definitive agreement in respect of the proposed transaction was announced by the company on Feb. 15, 2023.

The transaction is a fundamental acquisition for the company, as defined in the policies of the TSX Venture Exchange, and completion of the proposed acquisition is subject to a number of conditions, including receipt of TSX-V approval. While the transaction has not been completed on the originally anticipated timeline, the parties are continuing to work together to close the proposed transaction. However, there is no assurance that the proposed transaction will be completed as contemplated, or at all. The company will provide further updates regarding the status of the transaction as required under the policies of the TSX-V and otherwise as material information regarding the proposed transaction becomes available.

About Honey Badger Silver Inc.

Honey Badger is a Canadian silver company based in Toronto, Ont., 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 record of value creation backed by a skilled technical team. With significant landholdings in southeast and south-central Yukon, including the Plata property 180 kilometres 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.

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