Announcement • Jul 29
Honey Badger Silver Inc. Highlights Significant Sulphur-Rich Pyrite Zone and Investigates Germanium Potential at Nanisivik Silver Project in Nunavut, Canada Honey Badger Silver Inc. highlighted the significance of extensive, massive pyrite mineralization at its 100%-owned Nanisivik Silver Project in Nunavut, Canada. The Company has also started investigating the potential for Nanisivik to host germanium in existing and potentially new zones of mineralization. Honey Badger Silver acquired a large land position around Nanisivik for three key reasons: The growth potential of the silver-bearing polymetallic mineralization located at, or very close to, the former mine. The growth potential of several under-explored, yet very prospective, silver-bearing polymetallic satellite zones located away from the historic mine. The massive pyrite bodies located around the former mine that may contain silver and other valuable metals. The price of sulphur has recently risen by over 500% according to market data from Trading Economics due to ongoing conflict in the Middle East. Pyrite is an important source of sulphur, thus making the existing Nanisivik pyrite deposit potentially financially attractive. The importance and price of germanium, a critical mineral, has risen dramatically because of Chinese export controls. The Company plans to begin working on site imminently to evaluate the potential of the massive pyrite zones as well as follow-up on high-grade grab samples located elsewhere on the property collected in 2025. The company will also analyze newly collected samples for critical metals such as germanium, which is understood to be hosted within sphalerite in the Ag-Zn-Pb mineralized zones. The Company will then evaluate the technical merits (including metallurgical characteristics), the environmental considerations, and the market opportunities for these mineralized zones at Nanisivik. The Nanisivik Mine produced 17.9 million tonnes of ore grading 9% Zn, 0.7% Pb, and 35 g/t Ag between 1976 and 2002, equivalent to approximately 3.55 billion pounds of zinc, 284 million pounds of lead, and 20.1 million ounces of silver, before low metal prices forced the mine into early closure leaving un-mined mineral resources. In addition to the historic mine production, geological studies have documented an extensive pyrite-rich mineralizing system associated with the Nanisivik district. Honey Badger Silver has also made significant exploration advances at Nanisivik since acquiring the project. During the Company's 2025 exploration program for example, ground electromagnetic surveys identified several new conductive targets at the Area 14 and Oceanview target areas, including multiple untested conductors interpreted to represent potential extensions of known silver-lead-zinc mineralization or even entirely new zones. Prospecting completed during the program returned grab samples grading up to 249 g/t silver and 51.5% zinc from the Area 14 target, further confirming the high-grade nature of mineralization outside the historically mined areas. Historical publications describing mining operations at Nanisivik indicate the presence of extensive massive pyrite mineralization within the South Boundary Zone and North Pyrite Zone. McNeil et al. (1993) reported a historical, non-compliant estimate ranging from 50 to 100 million tonnes of massive pyrite. The Company considers the estimate to be relevant as it highlights the potential for a large pyrite-bearing system at Nanisivik and supports the exploration rationale for evaluating the sulphur potential of the property. While the estimate was reported by authors familiar with mine operations and regional geology at the time, the reliability of the estimate is uncertain because the publication does not disclose sufficient information regarding the estimation methodology, assumptions, classification criteria, or supporting data necessary to evaluate the estimate under current CIM standards or NI 43-101 requirements. Verification and potential upgrading of the historical estimate would likely require review of available historical geological, sampling and drilling data, together with confirmatory drilling and sampling to validate the extent and continuity of the pyrite mineralization. A Qualified Person has not completed sufficient work to classify these historical figures as current mineral resources or mineral reserves, and the Company is not treating them as such. Recent Insider Transactions • Jun 07
Executive Chairman & CEO recently bought CA$76k worth of stock On the 5th of June, Chad Williams bought around 100k shares on-market at roughly CA$0.76 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$6.1m. Chad has been a buyer over the last 12 months, purchasing a net total of CA$203k worth in shares. Announcement • May 28
Honey Badger Silver Initiates an Updated Economic Study on Its 100%-Owned PC Silver Mine, NWT, Canada Honey Badger Silver appointed JDS Energy & Mining to be the lead author of an updated Preliminary Economic Assessment and updated Mineral Resource Estimate on its Prairie Creek Mine, located in the Northwest Territories of Canada. Honey Badger Silver expects this Preliminary Economic Assessment and updated Mineral Resource Estimate to be completed in Third Quarter 2026. The PC Silver Mine is one of the world's highest-grade undeveloped silver-zinc-lead projects and benefits from substantial historical infrastructure and development work, including approximately 5 km of underground development, an existing mill and surface infrastructure, an airstrip, advanced permitting, agreements with Indigenous governments associated with the project area and transportation corridor, and a USD 25 million grant from the Government of Canada under the National Trade Corridor Fund. The last Mineral Resource Estimate was completed by Global Mineral Resources Services in October 2021, and outlined a measured and indicated resource of 9.8 million tonnes grading 139 g/t Ag, 9.7% Zn, and 8.8% Pb and an inferred resource of 6.4 million tonnes grading 150 g/t Ag, 12.9% Zn, and 6.7% Pb using a USD 20/oz silver price, a USD 1.15/lb zinc price and a USD 1.00/lb lead price. Current spot prices of the metals are USD 79/oz Ag, USD 1.60/lb Zinc and USD 0.91/lb lead. Along with JDS Mining, several well-known, experienced, and specialized consultants will be providing input to the study. Global Mineral Resource Services offers in-depth technical knowledge and experience to conduct the estimation of mineral resources and the evaluation of mineral deposits. Knight Piésold is an employee-owned global consulting firm specializing in services for the mining, power, and water sectors. Giffen Consulting Ltd. specializes in providing fit for purpose design and engineering services specializing in the utility, mining, and heavy industrial sectors with a focus on mineral processing, infrastructure design and construction. T Engineering is a Canadian engineering consulting company based in Toronto, Ontario. With expertise and operation experience in cemented rockfill, hydraulic fill, and cemented paste backfill, T Engineering provides all aspects of backfill engineering services around the world. The PC Silver Mine is a high-grade silver-zinc-lead brownfield redevelopment project located in the Northwest Territories, Canada. The project benefits from substantial historical investment and infrastructure, including underground development, an existing mill, an airstrip and advanced permitting. Honey Badger believes the project is strategically positioned to support growing North American demand for secure domestic supplies of silver, zinc, lead and potentially additional critical metals. 
