Honey Badger Discovers Important New Silver-Lead-Zinc Targets from Geophysical Work and Reports Grab Samples up to 249 g/t Silver and 51.5% Zinc from Area 14 at Nanisivik, Nunavut

Executive Summary

• Honey Badger Silver Inc. announced successful results from recent geophysical surveys (Loupe TDEM) and prospecting work at its 100%-owned Nanisivik Project in Nunavut.
• The survey identified several large, strong conductors at the Area 14 and Oceanview targets, representing potential extensions of unmined mineralization or entirely new zones of massive sulfide mineralization.
• Reconnaissance sampling at Area 14 returned high-grade intercepts up to 249 g/t silver and 51.5% zinc, validating the high-grade nature of historic drilling in the area.
• The Company plans to drill these high-priority targets in 2026, citing substantial exploration potential given the ~1,000% increase in silver prices since the mine's closure in 2002.

Key Details

• Geophysical Survey Results:
  • Conducted Loupe Time Domain Electromagnetics (TDEM) survey between August 27 and September 3, 2025.
  • Oceanview Target: 16.7 line-kilometers completed over 14 lines (N-S oriented, 250m spacing with 125m infill).
  • Area 14 Target: 11.4 line-kilometers completed over 13 lines (E-W oriented, 100m spacing).
  • Survey identified strong untested conductors underlying unmined/partially mined areas and between known zones of massive sulfide mineralization.
  • Anomalies coincide with historic airborne EM conductors, validating them as high-priority drill targets.
• Prospecting and Assay Results (Area 14):
  • 21 grab samples collected from large angular boulders interpreted as sub-cropping massive sulfide mineralization.
  • Highest assay results: 249 g/t silver and 51.5% zinc.
  • Samples validate high-grade mineralization seen in historic drilling and occur on top of conductive bodies identified by the Loupe EM survey.
• Historical Drill Data Review (Priority Targets):
  • Oceanview North Target: Located ~1.7 km ENE of main orebody. Historical data from 72 drillholes identified high-grade Ag-Zn intersections, including:
    • Hole 87-63: 5.3m at 97.6 g/t Ag and 22.79% Zn.
    • Hole 90-28: 1.3m at 116 g/t Ag and 20.3% Zn.
  • Area 14 Target: Located ~1.8 km SE of main orebody. Historical data from 27 drillholes east/northeast of mined area identified:
    • Hole A14_85-08: 2.3m at 280.0 g/t Ag and 27.43% Zn.
    • Hole A14_85-10: 2.3m at 239.3 g/t Ag and 6.10% Zn.
    • Hole 86-191: 3.0m at 143.3 g/t Ag and 26.16% Zn.
  • Deb Target: Located ~3 km SW of main orebody. Historical data from 15 drillholes identified:
    • Hole 90-59: 0.7m at 263 g/t Ag and 34.6% Zn.
    • Hole 91-19: 0.6m at 290 g/t Ag and 43.0% Zn.
    • Hole 90-51: 1.3m at 54.9 g/t Ag and 5.74% Zn.
• Project Context:
  • Nanisivik produced over 20 Moz of silver between 1976 and 2002.
  • Infrastructure access has improved with a new deep-water port located a few kilometers from the site.
  • Silver and zinc prices have increased approximately 1,000% and 300% respectively since closure.
• QAQC Details:
  • Survey performed by APEX Geoscience using Loupe Geophysics system (10m Tx-Rx coil separation, 450 Hz base frequency).
  • Rock samples analyzed at ALS Minerals labs in Vancouver via ME-MS61 (48 elements) and Ag-OG63/Pb-OG62/Zn-OG62 packages.
  • Samples with Zn >30% and Pb >20% underwent titration (Zn-VOL50/Pb-VOL70).
  • Gold analyzed via fire assay (Au-ICP21).
  • No QC samples inserted into the rock grab sample stream at this early stage.

Notable Quotes

• Chad Williams, Executive Chairman: "The recent surface exploration program completed at Nanisivik was a success: several large new zones with strong conductivity at the Area 14 and Oceanview targets were discovered. Some of these new zones may significantly extend the strike length of unmined mineralization at these targets while other new zones may represent completely new areas of mineralization."
• Chad Williams, Executive Chairman: "We are also very encouraged with assay results up to 249 g/t silver and 51.5% zinc collected from distal zones at the Area 14 target that coincide with underlying conductors from the Loupe EM survey... We plan to drill these high-priority targets in 2026. We believe Nanisivik has substantial exploration potential."