Chad Williams Acquires Shares of Honey Badger Silver Inc.
Chad Williams Acquires Shares of Honey
Badger Silver Inc.
White Rock, British Columbia--(Newsfile Corp. - May 16, 2024) -
Honey Badger Silver Inc.
(TSXV:
TUF) (OTCQB: HBEIF) ("
Honey Badger
" or the "
Company
") announces that Mr. Chad Williams has
purchased 4,431,000 common shares of Honey Badger Silver Inc. ("TUF" or the "Company") (TSXV:
TUF) at a price of $0.06 per common share.
Immediately prior to the purchase, Mr. Williams held 12,065,924 common shares representing
approximately 19.50% of the Company's issued and outstanding common shares and would have held
28.57% 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% of TUF's issued and outstanding common shares,
and would hold 35.73% 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 track record of value creation backed by a skilled technical team. Our projects are located in
areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8
Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz 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 km 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 a historic resource of 5.5 Moz of silver and 1.3
billion pounds of zinc
(2)(3)
.
The Company also has a significant land holding at the Nanisivik Mine Area
located in Nunavut, Canada that produced over 20 Moz 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 million tonnes grading 262
grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred
2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and
0.51 grams/tonne gold
.
(2)
Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne
silver, 7.6% zinc, and 1.08% 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."
ON BEHALF OF THE BOARD
Dorian L. (Dusty) Nicol, CEO
For more information please visit our website
www.honeybadgersilver.com
or contact Ms. Michelle
Savella for Investor Relations |
|
+1 (604) 828-5886.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable
Canadian securities legislation that is based on expectations, estimates, projections and
interpretations as at the date of this news release. Any statement that involves discussions with
respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always using phrases such as "expects", or
"does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not
anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain actions, events or results "may" or "could",
"would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and
may be forward-looking information and are intended to identify forward-looking information. This
forward-looking information is based on reasonable assumptions and estimates of management of
the Company at the time such assumptions and estimates were made, and involves known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of Honey Badger to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking information.
Such factors include, but are not limited to, risks relating to capital and operating costs varying
significantly from estimates; delays in obtaining or failures to obtain required governmental,
environmental or other project approvals; uncertainties relating to the availability and costs of
financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices;
delays in the development of projects; other risks involved in the mineral exploration and
development industry; and those risks set out in the Company's public documents filed on SEDAR+
(
www.sedarplus.ca
) under Honey Badger's issuer profile. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information, which only applies as of the
date of this news release, and no assurance can be given that such events will occur in the disclosed
timeframes or at all. The Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, other
than as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/209594