Honey Badger Silver Inc. (TSX-V: TUF) (OTCQB: HBEIF) is pleased to announce that Michael Jalonen, who has served as a trusted long-time advisor to the Company, has been appointed to its Board of Directors.

Mr. Jalonen brings 34 years of capital markets expertise, including 33 years with Bank of America Securities (1989-2022), where he was consistently ranked as one of world’s leading precious metals mining analysts. Michael covered twenty companies in the North American senior, mid-tier and intermediate gold and silver producer sector and five senior precious metal royalty and streaming companies. His independent studies on publicly traded companies, gold and silver prices, and the precious metals sector were well recognized by investors and mining companies globally. Throughout his career, he travelled globally conducting on-site tours of well over a hundred mining projects.

Chad Williams, Executive Chairman and Interim CEO, commented: “We are very fortunate to add Mr. Jalonen to our Board. His experience in the global precious metals space is extensive. He is widely respected, including by many institutional investors, because of his very solid track record of success analysing precious metal companies for decades. Mr. Jalonen was instrumental in the idea of Honey Badger acquiring the Nanisivik claims, as well as providing many other value-added insights, since he joined as an advisor several years ago.”

Prior to BofA, Mr. Jalonen was junior mining analyst for Dean Witter Canada for one year (1988-89). Mr. Jalonen also worked for 1.5 years as a corporate development analyst with Somicom Mining (1986-88) and as a junior geologist at Nanisivik Mines (summers of 1980-83). He holds an Honors B.Sc., Geology, from University of Windsor (1982) and an MBA from McMaster University (1986). He was awarded the CFA designation in 1992.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver at a grade of 262 g/t silver (and 201.3 million pounds of zinc at a grade of 6% zinc) Indicated and 13.9 Moz of silver at a grade of 169 g/t silver (and 247.8 million pounds of zinc at a grade of 4.4% zinc) Inferred⁽¹⁾ located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has an unclassified historic resource of 5.5 Moz of silver at a grade of 22 g/t silver and 1.3 billion pounds of zinc at a grade of 7.6% zinc⁽²⁾. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002⁽³⁾. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources, and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.

⁽¹⁾ Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.

⁽²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.

⁽³⁾ Geological Survey of Canada, 2002-C22, “Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”²⁾ Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.