Honey Badger Silver Inc. (TSX-V: TUF) reports an agreement with Strategic Metals Ltd. for an extension of up to 30 days for the closing of the previously announced acquisition of 100% interest in the Yukon Silver properties which is now anticipated to close by May 31, 2021 (see news releases dated February 11 and March 15, 2021 for more details). The time extension is due to Covid-19 related local administrative delays.

The Yukon properties present a strategic complement to Honey Badger Silver’s Thunder Bay portfolio and position the Company to be a top-tier silver pure play vehicle for exceptional growth.

In conjunction with the acquisition, the non-brokered flow-through private placement of up to $1.5 million is being extended under the same terms as announced on March 9, 2021. The flow-through Offering will consist of 10 million shares  that qualify as flow-through shares for purposes of the Income Tax Act (Canada), at a price of $0.15 per Flow-Through Share.

The net proceeds of the Offering are planned to be used to fund the Company’s exploration programs.

Proceeds from the sale of the Offering to eligible investors in Canada will be used to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada), and as “eligible Ontario mining expenditures” within the meaning of the Taxation Act (2007).

All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2021. The securities under the Offering will be offered to “accredited investors” under National Instrument 45-106 – Prospectus Exemptions.

Investors interested in participating in the flow-through Offering may so indicate through the Sharechest Connector on Honey Badger’s website, www.honeybadgersilver.com.

The closing of the Offering is expected to occur on or before May 31, 2021  and is subject to the completion of formal documentation and receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will be subject to a statutory hold period of four months and one day from the Closing Date.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development, and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon, Honey Badger Silver is positioning to be a top tier silver company.