Honey Badger Silver Inc. (TSX-V: TUF) is pleased to announce the closing of an initial tranche of its previously announced non-brokered hard dollar and flow-through private placement. All dollar amounts are in Canadian funds.

Hard Dollar Offering

The hard dollar component of the Offering involves the sale of up to 6,700,000 units  at a price of $0.15 per HD Unit for gross proceeds of $1,000,000. Each HD Unit consists of one common share of the Company and one half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of the Company at a price of $0.18 for a period of 36 months from the date of closing. The proceeds from the hard dollar offering will be used to finance closing obligations and exploration activities on the Company’s Cachinal project in Chile and for general working capital purposes. The Company has closed an initial tranche of 5,256,668 HD Units for aggregate proceeds of $788,500.

Chad Williams, Non-Executive Chairman of Honey Badger, acquired 3,333,334 HD Units in the first tranche closing for total gross proceeds to the Company of $500,000. His participation in the Offering is a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on the exemption from minority shareholder approval requirements under MI 61-101, as the fair market value of Mr. Williams’ participation in the Offering does not exceed 25% of the market capitalization of the Company.

Flow-Through Offering

The flow-through component of the Offering involves the sale of 1,570,000 units at a price of $0.16 per FT unit for aggregate proceeds of $250,000. Each FT Unit consists of one common share of the Company and one half of a common share purchase warrant, with each whole warrant having the same terms as the warrants sold in the hard dollar offering. The proceeds from the flow- through offering will be used to fund exploration programs on one or more of the Company’s exploration properties located in Yukon, Quebec, and Nunavut that will qualify as “Canadian Exploration Expenses” and, once renounced, “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada). The Company has closed an initial tranche of 1,234,375 FT Units for aggregate proceeds of $197,500.

All securities issued pursuant to the Offering are subject to a four-month statutory hold period under Canadian securities laws. The Company will issue a further news release on closing of the second tranche of the Offering, which is expected to occur before the end of April.

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 Securities 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian silver company based in Toronto, Ontario, that is 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 significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.