Honey Badger Discovers Important New Silver-Lead-Zinc Targets from Geophysical Work and Reports Grab Samples up to 249 g/t Silver and 51.5% Zinc from Area 14 at Nanisivik, NunavutToronto, Ontario--(Newsfile Corp. - December 1, 2025) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) ("Honey Badger" or the "Company") is pleased to share the results from the recent geophysical survey and prospecting work completed at it's 100%-owned Nanisivik Project, Nunavut. Nanisivik is a former polymetallic-silver mine that produced over 20 Moz of silver between 1976 and 2002(3), when low metal prices forced the mine into closure. Since then, silver and zinc prices are up approximately 1,000% and 300% respectively, and infrastructure access has improved with the construction of a deep-water port only a few kilometers from the former mine site. The Company's Executive Chairman, Chad Williams, commented, "The recent surface exploration program completed at Nanisivik was a success: several large new zones with strong conductivity at the Area 14 and Oceanview targets were discovered. Some of these new zones may significantly extend the strike length of unmined mineralization at these targets while other new zones may represent completely new areas of mineralization. We are also very encouraged with assay results up to 249 g/t silver and 51.5% zinc collected from distal zones at the Area 14 target that coincide with underlying conductors from the Loupe EM survey. Nanisivik was a high-quality mining operation until 2002 when low commodity prices forced the mine to cease operations. We plan to drill these high-priority targets in 2026. We believe Nanisivik has substantial exploration potential."2025 Data Review and Target PrioritizationEarlier in the year, the Company announced three priority target areas that were identified during data review, each hosting significant zinc and silver intercepts from historical drilling (see press release dated March 25, 2025). The areas are Deb, Ocean View North, and Area 14. A review of historical exploration drilling at the former mine site identified several significant drill intersections located outside mined areas. These discoveries were not followed up in the past due to the previous operator's tight focus on production. As a result, each of these represents a priority target for follow up work. A selection of significant silver and/or zinc mineralized intercepts from these priority target areas is provided in the Table 2 and the locations of the target areas are illustrated in Figure 1.2025 Exploration Program SummaryThe recent exploration program at Nanisivik was primarily focused on utilizing ground geophysics (Loupe Time Domain Electromagnetics or "TDEM") as a cost-effective and portable method to:Outline subsurface conductors under known unmined mineralization at the Oceanview and Area 14 target areas, and Find new conductors in untested areas that may represent extensions of known massive sulfide mineralization.Reconnaissance sampling was also completed around the Area 14 target to identify new zones of mineralization.Results from the Loupe EM survey are very encouraging and have exceeded expectations for this program. The survey successfully identified conductors underlying unmined and partially mined mineralized areas at both Area 14 and across the broader Oceanview area. Importantly, the Loupe EM data shows several strong untested conductors at both Area 14 and Oceanview that are located between or adjacent to known zones of massive sulfide mineralization. These untested Loupe EM anomalies also coincide with historic airborne EM conductors, which further validates these areas as high-priority drill targets with potential for the discovery of new silver-lead-zinc massive sulfide mineralization (Figure 1).Figure 1. Map of the main Nanisivik block showing results from the recently completed Loupe EM surveys at the Oceanview and Area 14 targets as well as locations of rock samples collected during the work program. Strong untested conductors are highlighted in the dark blue dotted boxes. The locations of historical underground, open pit, or trenched silver-zinc-lead ore bodies are also shown on the map.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3204/276371_3ba41a2c24f1f953_001full.jpgIn addition to the success of the Loupe EM Survey, reconnaissance prospecting work has identified an area of potentially sub-cropping massive sulfide mineralization at Area 14 that has returned values up to 249 g/t silver and 51.5% zinc. In total, 21 grab samples were primarily collected from large angular boulders interpreted by the field geologist to potentially represent sub-crop from underlying or nearby bedrock. Due to partial snow cover at the time of sampling plus the historical disturbance related to reclamation after mine closure, it remains to be confirmed if each of these large angular boulders truly represent in-situ mineralization. Th