Mr. Chad Williams reports

HONEY BADGER SILVER ANNOUNCES MANAGEMENT AND BOARD CHANGES

Dorian L. (Dusty) Nicol has decided to pursue an alternative employment position that precludes him from serving on any other boards and has thus resigned from Honey Badger Silver Inc.'s board of directors, effective immediately. Mr. Nicol will continue to support the company in a consulting capacity.

Mr. Nicol has been a valuable member of the Honey Badger team, contributing his extensive geological expertise and decades of industry experience to advance the company's technical programs.

The company is pleased to announce the following appointments:

• Andrew Jedemann will assume the role of vice-president, exploration. Mr. Jedemann is an accomplished geologist with over eight years of exploration experience in Northwestern Ontario, specializing in gold, nickel-copper and PGE (platinum group element) deposits. He has led and implemented over 20,000 metres of drilling at Barrick's Hemlo mine and contributed to new target generation in the Ring of Fire. Mr. Jedemann holds an MSc from Lakehead University in partnership with the University of Tasmania (CODES), focused on early-stage porphyry and epithermal systems.
• Ben Kuzmich will serve as qualified person (QP) for Honey Badger Silver. Mr. Kuzmich is a professional geologist with extensive exploration experience across Ontario, Manitoba and Yukon. He has led major drill programs, including a $20-million campaign at Barrick's Hemlo mine that improved underground head grade by 23 per cent, and contributed to key discoveries such as the Little Wing occurrence at Lynn Lake. With advanced expertise in critical mineral and pegmatite systems, Mr. Kuzmich holds an MSc from Lakehead University focused on Ontario's Ring of Fire region.

The company's executive chairman, Chad Williams, commented: "We wish every possible success to Dusty in his future endeavours. I am very happy to promote Andrew and Ben to these positions. They have already been important drivers for many of our activities on our seven silver projects. The claim expansion at Plata is a good example of the value they have added to Honey Badger. I have no doubt that they will continue to contribute greatly to our 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. Its projects are located in areas with a long history of mining, including the Sunrise Lake project, with a historical resource of 12.8 million ounces (oz) of silver at a grade of 262 grams per tonne (g/t) silver (and 201.3 million pounds of zinc at a grade of 6 per cent zinc) indicated and 13.9 million oz 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) inferred (1), 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 an unclassified historical resource of 5.5 million oz 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 (2). The company also has a significant landholding at the Nanisivik mine area, located in Nunavut, Canada, which produced over 20 million oz of silver between 1976 and 2002 (3). 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.

(1) Sunrise Lake 2003 RPA historical resource: indicated of 1,522,000 tonnes grading 262 g/t silver, 6.0 per cent zinc, 2.4 per cent lead, 0.08 per cent copper and 0.67 g/t gold; and inferred of 2,555,000 tonnes grading 169 g/t silver, 4.4 per cent zinc, 1.9 per cent lead, 0.07 per cent copper and 0.51 g/t gold.

(2) Clear Lake 2010 SRK historical resource: inferred of 7.76 million tonnes grading 22 g/t 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"): inferred of 7.76 million tonnes grading 22 g/t silver, 7.6 per cent zinc and 1.08 per cent lead.

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