Honey Badger Silver to Acquire Important High-Grade Permitted[1] Canadian Silver Project; Launches $10 Million Financing
Honey Badger transforms from explorer to developer with C$12M acquisition of permitted Prairie Creek silver-zinc-lead project.
The most recent news (March 19, 2026) announces a definitive agreement for Honey Badger Silver to acquire the Prairie Creek Project from Canadian Zinc Corporation for C$12 million (C$10 million cash, C$2 million in shares/warrants). To fund this, the company launched a C$10 million brokered private placement at C$0.16 per subscription receipt. Prairie Creek is a high-grade, permitted underground silver-zinc-lead project in the Northwest Territories with a substantial historical resource (9.8 Mt M&I and 6.4 Mt Inferred). The acquisition includes C$5.7 million in existing reclamation bonds and is expected to close in Q2 2026.
- Material - Game Changer: This is a transformative shift for a company that was previously focused on early-stage exploration in the Yukon and Nunavut. Acquiring a project that is already permitted with significant infrastructure (Type A Water License and Land Use Permits) bypasses years of de-risking.
- Financial Strain: The C$10 million financing is massive relative to the company’s previous market cap and cash position (which was only C$376k in March 2025). This will result in significant dilution.
- Operational Shift: The appointment of Ron Halas as COO (Feb 2023) now makes strategic sense, as his background in mine construction and operations is required for an asset of this scale.
- Resource Scale: The historical resource at Prairie Creek is significantly more advanced than the company's other "historical estimates," providing a clear path toward a Feasibility Study or production decision.
Honey Badger Silver is a Canadian silver-focused explorer and developer. Its new flagship is the Prairie Creek Project (NWT), a high-grade silver-zinc-lead underground project. Secondary assets include the Plata Project (Yukon), which is adjacent to Snowline Gold’s Rogue discovery and has shown potential for Reduced Intrusion-Related Gold Systems (RIRGS), and the Nanisivik Project (Nunavut), a past-producing silver-zinc mine.