Honey Badger Silver Announces Filing of NI 43-101 Technical Report for the PC Silver Mine Preliminary Economic Assessment

Honey Badger Silver Inc. has filed an independent NI 43-101 Technical Report supporting the previously announced Preliminary Economic Assessment (PEA) and updated Mineral Resource Estimate (MRE) for its 100%-owned PC Silver Mine. The report, prepared by JDS Energy & Mining Inc. with an effective date of June 21, 2026, explicitly confirms there are no material differences between the technical report and the PEA results disclosed on September 17, 2026.

The filing validates the economic assumptions, geological data, and technical parameters underpinning the PEA, which highlighted a 22-year mine life, negative All-In Sustaining Costs (AISC), and a 29.3% after-tax IRR at base-case pricing. The report is available on SEDAR+ and the company website, fulfilling the regulatory timeline announced alongside the initial PEA release.

Honey Badger Silver Inc. (TUF) filed its technical report, a procedural and regulatory milestone explicitly expected within 45 days of the September 17 Preliminary Economic Assessment (PEA) announcement. Because the market already priced in the PEA's strong economics, this validation is incremental and expected. The filing removes technical compliance uncertainty but does not introduce new financial data, production targets, or capital cost changes.

The news reinforces the technical foundation for the upcoming Definitive Feasibility Study, targeted for Q2 2027, and supports management's narrative of a highly financeable, brownfield restart.

Honey Badger Silver Inc. (TUF) is a Canadian silver explorer and developer that holds a portfolio of 100%-owned properties across the Northwest Territories, Yukon, and Nunavut. Its flagship asset is the PC Silver Mine, also known as Prairie Creek, a fully permitted brownfield site located in the Northwest Territories. The mine features existing infrastructure, including a 1,000 tonnes per day mill that is permitted for 2,400 tonnes per day, 5 km of underground workings, an airstrip, and advanced permitting.

A preliminary economic assessment (PEA) for the project outlines a 22-year mine life with a pre-commercial capital expenditure of C$667 million. The base case scenario projects a 29.3% after-tax internal rate of return and a 3.1-year payback period. The assessment indicates a negative all-in sustaining cost (AISC) of -$22 per ounce of silver, a figure driven by by-product credits.

In addition to the PC Silver Mine, Honey Badger Silver holds interests in several other projects. These include the Nanisivik site in Nunavut, a past producer; the Yava project in Nunavut, a VMS system; the Plata project in Yukon, an Ag-Au-Pb-Zn deposit; and the Hy project in Yukon, a skarn deposit containing critical minerals. The company also controls the Clear Lake project in Yukon and the Sunrise Lake project in the Northwest Territories.