Mr. Chad Williams reports

HONEY BADGER SILVER ANNOUNCES GRANT OF STOCK OPTIONS

Honey Badger Silver Inc. has granted an aggregate of 1.36 million stock options to directors and consultants of the company pursuant to its stock option plan.

Each option is exercisable to acquire one common share of the company at an exercise price of 23 cents per share (being the closing price of the company's common shares on the TSX Venture Exchange on Sept. 8, 2025) for a period expiring on Sept. 8, 2030.

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. 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 at a grade of 262 grams per tonne silver (and 201.3 million pounds of zinc at a grade of 6 per cent zinc) indicated and 13.9 Moz of silver at a grade of 169 g/t silver (and 247.8 million pounds of zinc at a grade of 4.4 per cent zinc) inferredlocated 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 an unclassified historic resource of 5.5 Moz of silver at a grade of 22 g/t silver and 1.3 billion pounds of zinc at a grade of 7.6 per cent 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 as an indication of 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 resources.

We seek Safe Harbor.