Honey Badger Creates 100% Owned Silver Royalty Business Vertical
HONEY BADGER CREATES 100% OWNED SILVER ROYALTY BUSINESS
VERTICAL
White Rock, British Columbia , November 13, 2024 – Honey Badger Silver Inc. (TSXV:TUF |
OTCQB:HBEIF) (“ Honey Badger ” or the “Company ”) is pleased to announce that it has
incorporated a new subsidiary called Honey Badger Silver Royalty Inc. ( “HBSR”). The Company
will grant HBSR a 2% net smelter return royalty (“NSR”) on silver production from Honey Badger’s
current portfolio of mineral projects. Honey Badger shareholders will own 100% of HBSR through
their ownership of Honey Badger shares.
Honey Badger’s CEO, Dorian L. (Dusty) Nicol, commented, “ We expect HBSR to surface
shareholder value by highlighting the company’s inherent silver royalty holdings. Our goal is to
create a compelling silver investment vehicle for what we believe will be the biggest bull silver
market in histo ry. Honey Badger continues to aggressively evaluat e many silver mineral assets.
Over the past few years, w e have selectively acquired 7 silver -rich mineral projects in sound
political jurisdictions – all in Canada at present. Our ultimate objective is to hold cash- flowing
silver royalties and streams plus a substantial inventory of silver ounces in mineral deposits . This
business model is innovative and unique to our knowledge.”
The Honey Badger fully-owned projects from which a 2% NSR will be granted to HBSR comprise:
Containing Historic Silver Resources:
• Clear Lake project in the Yukon : Sediment-hosted deposit containing 5.5 million ounces
of silver and 1.3 billion pounds of zinc, with potential to expand.
• The Sunrise Lake project in the Northwest Territor y: Volcanogenic Massive Sulphide
(VMS) deposit with a historic estimate of 12.6 million ounces of silver Indicated and 14.1
million ounces Inferred, together with significant gold and base metals. There is potential
to expand resource.
• Yava Lake project in Nunavut: VMS located near Glencore’s Hackett River Project, one of
the world’s largest undeveloped silver resources. Yava Lake has a historic resource of 4.5
million ounces of silver, with significant potential to expand and to discover additional
deposits within the land package.
Pre-Resource, High-Grade Silver Projects
• Nanisivik Mine in Nunavut: A historical mine which produced over 20 million ounces of
silver. High-grade silver targets identified within the over 100 million tonnes of massive
sulphide that remains unmined on the property together with additional exploration
targets within the land package.
• Plata in the Yukon: Historic high-grade silver producer, adjacent to Snowline Gold’s Rogue
discovery and with similar geology. High-grade gold and silver veins occur throughout the
project and are interpreted to be the upper portions of a Rogue-type mineralized system.
• Groundhog in the Yukon: Located near the Ketza River gold-silver camp, high-grade silver,
zinc, lead, and copper mineralization occurs on the project. There has been no geophysics
or drilling done on this project, which has potential to host one or multiple silver deposits.
• Hy in the Yukon: H igh-grade silver, lead, zinc, and tungsten mineralization occur on this
project. Little follow up work has been done to date on this project, which has potential
to host one or more silver deposits.
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 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 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 Sonya
Pekar for Investor Relations | [email protected] |+1 (647) 498 - 8244
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” o r “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.