Honey Badger Silver Inc. (TSX-V: TUF) is pleased to provide an update from the Chairman, Chad Williams, on the Company’s latest activities intended to provide the foundation for value generation and in the transformation of Honey Badger into a high-growth silver company.
Since our last update, we have made important strides in strengthening our management team and Board and have added value accretive silver assets to our portfolio. Owning and controlling over 15% equity in Honey Badger, our new team is aligned with shareholders and passionately committed to our mission of creating a top-tier vehicle with maximum exposure to silver.
“Our vision for Honey Badger involves aggregating three categories of silver assets that will create a unique type of silver company”, said Chad Williams. “We will seek to acquire silver resources in the ground; we will also continue to add value to our high-grade silver assets – an asset type in which we have already accumulated large-scale holdings in major historic silver camps such as Plata in the Yukon discussed below; and we will look to create organically or acquire silver royalties and/or streams. We anticipate exciting news on the horizon as we strive to generate value in a diversified silver asset portfolio.”
Mr. Williams goes on to add, “In effect, Honey Badger strives to become an investment vehicle that is a potential alternative to a silver ETF”1. What this means is that the value of Honey Badger’s shares, like a silver commodity ETF, should fluctuate with the price of silver but our management and Board will actively work to seek accretive silver growth opportunities and add value to our existing silver assets using our multi-decades of experience in mining”.
We believe that the outlook for silver is very positive. Newly appointed Honey Badger Director John Hill, who has decades of experience in financial markets said, “With physical demand expected to continue due to its growing role in clean energy technologies and electronics and with solid investment demand driven by inflation expectations and real negative yields, the case for buying and holding silver over the coming years is very strong”.
Thus, while many of our peers in the junior silver space have been relatively dormant during the recent pull-back in silver prices, we have been aggressively evaluating assets to be favorably positioned for the next phase of the precious metals bull market.
Our mission is to add exposure and access to silver resources on an accretive per-share basis. To achieve this, we are using the following two mechanisms:
Plata Yukon Site Visit Impressions
Our recent site visit to the Plata project served to highlight the great potential of this property. Plata has produced high-grade silver from small-scale mining in the past and currently hosts 32 showings2, many of which have returned high-grade silver values from drilling and trenching. Geologically, it is analogous to the prolific Keno Hill silver district 180 kms to the west, which produced over 200 million ounces of silver from 1913 to 19893. We believe Plata ranks among the industry’s more exciting silver targets.
Honey Badger’s summer program at Plata was supervised and executed by consulting firm Archer, Cathro & Associates (1981) Limited who over decades have played a key role in daylighting the vast mineral potential of the Yukon, a premier partner to have in the region.
We believe our Plata acquisition illustrates our ability to create value through timely value-sensitive asset purchases.
Technical information in this news release has been approved by Heather Burrell, P.Geo., a geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.
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 including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is positioning to be a top-tier silver company.
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We acknowledge the [financial] support of the Government of Canada.