Mr. Dorian Nicol reports

HONEY BADGER SILVER DEFINES NEW HIGH PRIORITY EXPLORATION TARGETS AT ITS YAVA PROJECT, NUNAVUT

Based on geological and geophysical criteria, six high-priority exploration targets have been identified by Honey Badger Silver Inc., comprising two high-priority conductors (R-6 and R-9) and 11 lower-priority conductors located on the current Raptor claim block and an additional four high-priority conductors (M-1, M-2, M-3 and M-6) and 10 lower-priority conductors located on the current main Yava claim (and lease) block. These targets have not yet been drill tested.

Conductor M-3, located 1.25 kilometres northwest of the Yava Main zone, has a 500-metre strike length and is associated at surface with mineralization in outcrop where a grab sample assay in 2007 returned values of 1.2 parts per million gold, 4,960 ppm silver, 3.5 per cent lead and 1.5 per cent zinc.

Another sample, collected in 2004, located 650 metres north of the M-3 target/conductor, comprised sulphide-rich mineralization that was later named the Yava North zone and returned analytical values of 0.17 ppm Au and 3,452 ppm Ag. Geological evidence suggests that the silver-rich sulphide mineralization at the M-3 and Yava North zones represents part of a significant volcanogenic massive sulphide footwall stringer zone that appears to be a northwestern projection of the Yava Main zone mineralized horizon. This second mineralized system on the main Yava claim/lease block, along with the rest of the strike extent of the Yava Main zone mineralized horizon, represents an additional priority for future exploration at the property.

The identification of these targets enhances the discovery potential of the Yava project, where the company tripled its land position by staking claims over favourable ground shortly after acquiring the property in October, 2024.

The company's chief executive officer, Dorian L. (Dusty) Nicol, commented: "The identification of these targets confirms our belief that Yava has tremendous discovery potential above and beyond the currently identified historical resource. The project's location only 45 kilometres from Glencore's Hackett River project, one of the largest undeveloped silver resources in the world (113 million ounces indicated plus 232 million ounces inferred) and on the same belt of volcanic rocks, testifies to the favourable geology and discovery potential of Yava. We are continuing data review and planning a field program to field check these new targets and continue advancing Yava toward a new discovery."

About Honey Badger Silver Inc.

Honey Badger 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. Its 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 (and 201.3 million pounds of zinc) indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) inferred 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 the Yukon territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc. The company also has a significant landholding at the Nanisivik mine area located in Nunavut, Canada, that produced over 20 Moz of silver between 1976 and 2002. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose of indicating the volume of mineralization that could be present. Additional work, including verification drilling/sampling, will be required to verify any of the historical estimates as a current mineral resource.

We seek Safe Harbor.