Mr. Dorian Nicol reports

HONEY BADGER SILVER PLANS EXPLORATION WORK AT NANISIVIK PROJECT, NUNAVUT

Honey Badger Silver Inc. has released its plans for exploration work on its wholly owned Nanisivik project near Arctic Bay, Nunavut. The company staked claims totalling 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 per cent zinc, 0.72 per cent lead and 35 grams per tonne (g/t) silver. In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite) totalling about 100 million tons, containing base metal and silver values not economic at the time.

Dorian L. (Dusty) Nicol, the company's chief executive officer, commented: "Our target at Nanisivik is an eventual resource of up to 100 million ounces of silver at a grade of 30 to 50 grams per tonne 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 fieldwork 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 nine cents 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 Mr. Nicol, PG, FAusIMM, the company's chief executive officer and qualified person (QP) for the purpose of National Instrument 43-101.

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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