Honey Badger finds Zn-Pb-Ag mineralization at Nanisivik

Executive Summary

• Honey Badger Silver reports completion of orientation geophysical surveys on two of three high‑priority targets at its 100 % owned Nanisivik project and has identified a new surface occurrence of massive zinc‑lead sulphide mineralization (Area 14).
• Historic drill data reveal multiple high‑grade silver–zinc intercepts across the Deb, Ocean View North, and Area 14 target zones, with several holes intersecting >100 g/t Ag and >20 % Zn.
• The company expanded its Nanisivik mineral tenure in October 2024 by staking ten additional claims covering ~7,650 ha, including extensions around the Chris Creek, Adams Sound, and Adams River targets.

Key Details

• Geophysical Work: Completed Loupe EM grids on Ocean View and Area 14; initial interpretation shows discrete conductors indicative of sulphide bodies.
• Surface Mineralization (Area 14): Mapped ~300 m × 30 m zone of sub‑cropping massive sphalerite–galena; sampling underway to assess Ag, Zn, Ge, Ga content.
• Historic Drill Intercepts – Deb Target:
• Hole 90‑51: 1.3 m @ 54.9 g/t Ag, 5.74 % Zn
• Hole 90‑59: 0.7 m @ 263 g/t Ag, 34.6 % Zn
• Hole 91‑19: 0.6 m @ 290 g/t Ag, 43.0 % Zn
• Historic Drill Intercepts – Ocean View North:
• Hole 87‑63: 5.3 m @ 97.6 g/t Ag, 22.79 % Zn
• Hole 90‑28: 1.3 m @ 116 g/t Ag, 20.3 % Zn
• Historic Drill Intercepts – Area 14:
• Hole A14_85‑08: 2.3 m @ 280.0 g/t Ag, 27.43 % Zn
• Hole A14_85‑10: 2.3 m @ 239.3 g/t Ag, 6.10 % Zn
• Hole 86‑191: 3.0 m @ 143.3 g/t Ag, 26.16 % Zn
• Massive Pyrite Bodies: Over 100 Mt of massive sulphide remain in place (in addition to the ~18 Mt mined 1976‑2002).
• Tenure Expansion (Oct 2024): Added 10 claims – 1,174.2 ha to original block, 1,710.4 ha covering Chris Creek target (~19 km SE), and 4,765.8 ha around Adams Sound/Adams River targets (~40‑55 km SE).
• Qualified Person: Technical information approved by Dorian L. (Dusty) Nicol, PG, FAusIMM (QP under NI 43‑101).

Notable Quotes

“Nanisivik was a quality mining operation until 2002… Our current field program is designed to refine the geological characteristics of known unmined mineralization … with the objective of generating a new economic resource.” – Chad Williams, Executive Chairman, Honey Badger Silver Inc.