Honey Badger Silver Secures Important Nanisivik Geologic Data Base

WHITE ROCK, BC / ACCESSWIRE / May 2, 2024 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") has fortuitously acquired at no cost the historic drill data base for its 100%-owned Nanisivik Project in Nunavut which contains extremely valuable geologic information about the claims we now own.

The Company's CEO Dorian L. (Dusty) Nicol commented, "This is an extremely valuable data base. It contains the results from decades of drilling at Nanisivik that we estimate would cost well over $40 million to replicate today. We have been searching for this information since staking Nanisivik and were able to acquire it after months of effort utilizing our extensive contacts in the mining industry and some sleuthing. We are examining the data to identify potential mineralization at Nanisivik that could be economic at today's metals prices. We expect this to lead to multiple areas and potential targets for further examination and evaluation. Our target at Nanisivik is an eventual resource of up to 100 million ounces of silver at a grade of 30-50 grams per ton silver. The prospectivity is supported by the reported large tonnages of pyrite bodies at Nanisivik containing anomalous concentrations of silver as well as, locally, germanium, gallium, and indium. In addition, with a deep-sea port being constructed adjacent to the Nanisivik Mine, the pyrite bodies themselves may have significant commercial value. The data base we recently acquired will be invaluable in evaluating whether there may be concentrations of commercial interest at current metal prices."

About Nanisivik
The Nanisivik Mine (near Arctic Bay, Nunavut) produced over 20 million ounces of silver between 1976 and 2002, from 17.9 million tons of ore, grading 9% zinc, 0.72% lead, and 35 grams per ton silver (1). In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons (1,2), containing base metal and silver values not economic at the time.

1. (1) Reference: 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.
2. (2) A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

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