Mr. Dorian Nicol reports

HONEY BADGER SILVER GROWS NANISIVIK PROJECT

Honey Badger Silver Inc. has added strategic claims through staking at its 100-per-cent-owned Nanisivik project, located on Baffin Island, Nunavut. These claims are deemed to have high geologic growth and discovery potential.

Honey Badger's chief executive officer, Dorian L. (Dusty) Nicol, commented: "Our recent historic drill and geophysical data analysis (news release dated Sept. 16, 2024) revealed several high-priority targets that may be silver-rich massive sulphide bodies. To capture the full benefit of these and additional potential silver-rich targets for our shareholders, we staked new claims at very low cost. We are extremely excited by our new land position because of how it expands, at extremely low cost, the number of potential silver-rich targets. Our next steps will be to continue compiling and interpreting available data on these new claims, with a view to performing an initial field reconnaissance."

New claims

The company has recently increased the size of its mineral tenure around the past-producing Nanisivik mine on Baffin Island, Nunavut, which now comprises a total of 14 mineral claims covering approximately 13,373.2 hectares (ha). The company's original Nanisivik property comprised four claims totaling 5,722.8 ha that cover the former mine site. The company has staked an additional 10 claims totalling 7,650.4 ha at and around the Nanisivik area. These claims cover geophysical anomalies identified during the company's review of the historic data base (see news release dated Sept. 16, 2024). The new claims comprise a further three claims that have added 1,174.2 ha to the original Nanisivik claim block, two claims (1,710.4 ha) covering the Chris Creek target located approximately 19 kilometres (km) southeast of Nanisivik and further five claims (4,765.8 ha) covering historical geophysical anomalies (conductors) in and around the Adams Sound and Adams River target areas approximately 40 km and 55 km, respectively, southeast of Nanisivik.

About Nanisivik

The Nanisivik mine (near Arctic Bay, Nunavut) produced over 20 million ounces of silver between 1976 and 2002, from 17.9 million tonnes of ore, grading 9 per cent zinc, 0.72 per cent lead and 35 grams per tonne silver. In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite) still in place, totaling about 100 million tonnes, containing locally anomalous base metal and silver values.

Qualified person

Technical information in this news release has been approved by Mr. Nicol, the company's CEO, who is a qualified person (QP) for the purpose of National Instrument 43-101.

Yava acquisition

The company announced on Oct. 2, 2024, that it has agreed to purchase the Yava property for 4.25 million shares from Blue Moon Metals Inc. The property is subject to a 10-per-cent NPI royalty, which the company can repurchase for $1.5-million. Please see the previous news release for more information about the Yava acquisition.

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.

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