Honey Badger Silver Comments ON Press Coverage Respecting Former CEO
HONEY BADGER SILVER COMMENTS ON
PRESS COVERAGE RESPECTING FORMER CEO
White Rock, British Columbia, May 28, 2024 – Honey Badger Silver Inc. (TSXV:TUF | OTCQB:HBEIF)
(“Honey Badger ” or the “ Company”) is aware of recent press coverage concerning Red Pine
Exploration Inc. and Quentin Yarie. Mr. Yarie was formerly the CEO of the Company and was
replaced as part of a management team change which took place in July 2020.
The Company has no comment on this press coverage, but in response to queries it has received,
confirms that all of the Company’s current portfolio of silver properties was acquired by the
Company under the direction of the Company’s current management and board well after Mr.
Yarie’s departure. Mr. Yarie has had no involvement with any property forming part of the
Company’s current asset base. The Company does not rely on any opinion of Mr. Yarie respecting
its properties and has no reason to do so in the future.
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 pro ject 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 | [email protected] | +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", "belie ves" 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 Hon ey 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 relat ing 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; an d 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 re lease 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.