Mr. Dorian Nicol reports

HONEY BADGER SILVER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Honey Badger Silver Inc. has arranged an offering to raise up to $1-million by way of a non-brokered private placement. All dollar amounts are in Canadian funds.

The offering will consist of a combination of non-flow-through (NFT) units at a price of five cents per NFT unit and flow-through (FT) shares at a price of 6.5 cents per FT share, for aggregate proceeds of up to $1-million.

The offering

Each NFT unit will consist of one non-flow-through common share of the company and one-half of one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the company for an exercise price of 6.5 cents per share for a period of 18 months from the date of closing. Each FT share will consist of one flow-through common share of the company at a price of 6.5 cents per FT share.

The company will use the proceeds of the sale of FT shares in the offering to finance exploration programs on one or more of the company's exploration properties located in the Yukon, NWT, and Nunavut that will qualify as Canadian exploration expenses and, once renounced, flow-through mining expenditures, as those terms are defined in the Income Tax Act (Canada). The company intends to use the net proceeds of the sale of the NFT units to finance exploration programs and for general and administrative purposes.

The securities issued in connection with the offering will be subject to a four-month-and-one-day hold period. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. Finders' fees will be payable in the offering.

Insider participation

Chad Williams, non-executive chairman of Honey Badger, has advised the company that he intends to subscribe for a significant portion of the offering. Additional insiders may also participate in the offering. Insiders' participation in the offering constitutes a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemption from minority shareholder approval requirements under MI 61-101, as the fair market value of the insiders' participation in the offering does not exceed 25 per cent of the market capitalization of the company.

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 12.8 million ounces of silver indicated and 13.9 million ounces of silver inferred (1) (3), located in the Northwest Territories, and the Plata high-grade silver project, located 165 kilometres east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The company's Clear Lake project in Yukon has a historic resource of 5.5 million ounces of silver and 1.3 billion pounds of zinc (2) (3). The company also has a significant landholding at the Nanisivik mine area, located in Nunavut, Canada, which produced over 20 million ounces of silver between 1976 and 2002 (2) (3).

(1) Sunrise Lake 2003 RPA historic resource: indicated -- 1,522,000 tonnes grading 262 grams per tonne silver, 6.0 per cent zinc, 2.4 per cent lead, 0.08 per cent copper and 0.67 gram per tonne gold; and inferred -- 2,555,000 tonnes grading 169 grams per tonne silver, 4.4 per cent zinc, 1.9 per cent lead, 0.07 per cent copper and 0.51 gram per tonne gold.

(2) Clear Lake 2010 SRK historic resource: inferred -- 7.76 million tonnes grading 22 grams per tonne silver, 7.6 per cent zinc and 1.08 per cent lead.

(3) Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."

(4) A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling/sampling, will be required to verify the estimate as a current mineral resource.

We seek Safe Harbor.