Mr. Dorian Nicol reports

HONEY BADGER APPOINTS NICOL AS DIRECTOR

Effective Feb. 9, 2024, Dorian L. (Dusty) Nicol was appointed as chief executive officer and a director of Honey Badger Silver Inc. Mr. Nicol had been appointed interim chief executive officer on July 31, 2023 (see news release of that date).

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. 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 Jan. 18, 2024.

The market-making services 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 with the agreement renewing each subsequent month unless each party provides at least 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.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a record of value creation backed by a skilled technical team. The company's projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 26.7 million ounces of silver located in the Northwest Territories, and the Plata high-grade silver project, located 165 kilometres east of Yukon's prolific Keno Hill. The company also has a significant landholding at the Nanisivik mine area located in Nunavut, Canada, that produced over 20 million ounces of silver between 1976 and 2002.

We seek Safe Harbor.