Honey Badger Silver Inc. (TSX-V: TUF) is pleased to announce that it signed a definitive agreement on March 12, 2021 with Strategic Metals Ltd. (TSX-V: SMD), pursuant to which Honey Badger Silver has agreed to acquire 100% of Strategic Metals’ right, title and interest in three advanced silver-focused properties located in southeast and south-central Yukon, Canada. The Agreement follows the announcement of a letter of intent between the parties regarding the Acquisition (please refer to the Company’s news release dated February 11, 2021 for more details).

The properties comprise the Plata, Groundhog and Hy, each located in proximity to major historical silver camps or workings and at such a stage as to be reasonably considered cost-effective to further advance (please refer to the Company’s press release of February 11, 2021 for property details).

Chad Williams, Chairman of Honey Badger Silver commented, “The Yukon properties present a stellar complement to our Thunder Bay portfolio and position the Company to be a top-tier silver pure play vehicle for exceptional growth.”

In consideration for 100% interest in the properties, Honey Badger Silver has agreed to issue to Strategic Metals 34,762,104 common shares in the capital of Honey Badger Silver, being 19.9% of the issued and outstanding common shares of the Company after the closing of the previously announced unit offering (the “Offering”) for gross proceeds of $3 million (see news release dated February 18, 2021), which is a condition precedent of the Acquisition, and the closing of the Acquisition.

The Acquisition is expected to close on or before April 30, 2021. The Acquisition and Offering remain subject to the approval of TSX Venture Exchange.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver-focused company headquartered in Toronto, Ontario, Canada with properties in Quebec and Ontario including an expansive interest in the Thunder Bay Cobalt-Silver District. In addition, the Company has an Agreement over three silver properties in southeast and south-central Yukon (see news release dated February 11, 2021 for more details). The Company’s common shares trade on the TSX Venture Exchange.