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Honey Badger Silver Inc (2)
Symbol TUF
Shares Issued 61,867,798
Close 2024-05-16 C$ 0.07
Market Cap C$ 4,330,746
Recent Sedar Documents

Honey Badger holder Williams' holdings up to 26.66%

2024-05-16 18:07 ET - News Release

Mr. Dorian Nicol reports

CHAD WILLIAMS ACQUIRES SHARES OF HONEY BADGER SILVER INC.

Chad Williams has purchased 4,431,000 common shares of Honey Badger Silver Inc. at a price of six cents per common share.

Immediately prior to the purchase, Mr. Williams held 12,065,924 common shares representing approximately 19.50 per cent of the company's issued and outstanding common shares and would have held 28.57 per cent if all of the 3,510,167 share purchase warrants and 2,100,158 stock options held by him were exercised.

As a result of his purchase of 4,431,000 common shares today, Mr. Williams now holds 16,496,924 common shares, representing approximately 26.66 per cent of Honey Badger Silver's issued and outstanding common shares, and would hold 35.73 per cent if all of his share purchase warrants and stock options were exercised.

Mr. Williams acquired the common shares described herein for investment purposes and subject to applicable securities laws, may increase or decrease his ownership of securities of the company from time to time depending on market conditions and/or other relevant factors.

A copy of the early warning report to be filed by Mr. Williams in connection with the purchase of common shares described above will be available on SEDAR+ under the company's profile.

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 (oz) of silver (and 201.3 million pounds of zinc) indicated and 13.9 million oz of silver (and 247.8 million pounds of zinc) 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, that produced over 20 million ounces of silver between 1976 and 2002 (2) (3). A qualified person has not done sufficient work to classify the foregoing historic resources as current mineral resources and the company is not treating the estimate as a current mineral resource. The historic resource estimates cannot be relied upon. Additional work, including verification drilling/sampling, will be required to verify the estimate as a current mineral resource.

(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."

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