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News Release - April 20, 2018 4:38 PM ET

Honey Badger Confirms High-Grade Silver (953 g/t) and Zinc (14.94%) from Grab Samples at its Thunder Bay Silver Camp -- highly prospective for 'five element' vein discoveries of significance

NEW YORK, NY, April 20, 2018 /Sector Newswire/ -- Honey Badger Exploration Inc. (TSX-V: TUF) this week announced that it has received assay results from surface sampling at its Thunder Bay Silver Camp, located in the Lakehead region, west of Thunder Bay, Ontario. Grab samples returned silver values of up to 953 g/t and zinc values of up to 14.94%. This news falls on the heels the Company has substantially increased its land position, and has completed the previously announced airborne geophysical survey -- results corroborate >2 km potential over fault structures for further 'five element' vein discoveries of significance.

Excerpt of Honey Badger's April 19, 2018 news:

Honey Badger Confirms High-Grade Silver (953 g/t) and Zinc (14.94%) from Grab Samples at its Thunder Bay Silver Camp

TORONTO, April 19, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) announces that it has received assay results from surface sampling at its Thunder Bay Silver Camp, located in the Lakehead region, west of Thunder Bay, Ontario. Grab samples returned silver values of up to 953 g/t and zinc values of up to 14.94%. The reader is cautioned that grab samples are selective by nature and they may not represent the true mineralization of the prospect.

Honey Badger has strategically expanded its landhold in Thunder Bay and now controls more than 30,000 hectares of prospective land that has not been drilled in over 100 years. Prior to the launch of its current 1,500 m drilling program, Honey Badger prospected on its properties to map and record primary structures (dip and strike) of exposed contacts. While there was a significant amount of snow cover and limited visibility of outcrops at the time, several grab samples were collected. Results confirm the presence of polymetallic silver veins.

Quentin Yarie, Honey Badger’s President and CEO commented: “The results from the prospecting we conducted on our properties in early March confirm that high-grade silver mineralization extends over at least 2.5 km along the regional structure interpreted to control silver mineralization at the historical Beaver Mine. There is substantial potential to discover new polymetallic silver veins in the area. Our current drill program is intersecting a much higher density of veins in the region that what was anticipated from our compilation of the historic work and we expect that pending assay results will confirm our early exploration findings.”

Table 1. Assay result highlights from 2018 grab samples*
Sample_#	X	Y	Silver (Ag) g/t	Lead (Pb) %	Zinc (Zn) %	AgEq g/t**
602129	306781.8	5355537	953	0.94	0.5	1022
1099079	304455.8	5354919	0.84	0.08	14.94
1099065	304163.2	5356847	0.93	0.46	13.69
602130	304455.8	5354919	62.3	0.1	0.16	76
1099075	304267	5355309	0.9	1.23	0.94
1099054	304455.8	5354919	35.7	0.08	0.15	48
1099057	304280.3	5354225	7.09	0.86	0.34	64
1099063	304455.8	5354919	1.86	0.9	0.27	56
1099055	266278.8	5348357	19.8	0.07	0.3	40
* Grab samples are selective and may not represent the true mineralization of the prospect
** AgEq = (Ag (g/t)0.54$/(g/t) + Zn(wt.%)31.09$/wt.% + Pb(wt.%)*23.37$/wt.%) / 0.54$/(g/t Ag)

The above assays were obtained from representative samples. The samples were crushed and pulverized and a fraction was selected for analyses. Silver and base metals concentrations were initially analysed using a combination of ICP-MS and ICP-OES following a near total digestion using a 4 acid solution. Overlimits on metals were determined using an ICP-MS following a peroxide fusion. Overlimits on Ag were determined by fire assay and gravimetric finish.

When compared to other five-element vein districts, veins elevated in zinc and lead typically form the regional background of silver-rich and arsenide-rich zones in the vein systems. The high-grade zinc zones in veins are described as spatially decoupled, but proximal, from the silver-rich and arsenide-rich (cobalt) zones of the veins that, if present, could be found by exploring laterally along the veins.

About Honey Badger’s Thunder Bay Silver Camp
Honey Badger’s Thunder Bay Silver Camp is comprised of the Beaver Silver, Silver Mountain, and Mink Mountain Silver properties, covers more than 30,000 hectares, and includes twelve past-producing high-grade mines with historical production of more than 1.67M oz silver. The project is located on the Lakehead Region, 25 to 70 kilometres southwest of Thunder Bay, Ontario. It is easily accessible and close to infrastructure.

There are two main polymetallic vein groups in the Lakehead Region - the Mainland and Island vein groups that were historically mined for silver, cobalt, copper, nickel, lead and zinc. Some of the veins also produced gold. The Island Vein group produced a total of 3,188,297 oz silver with most of that production coming from the Silver Islet Mine. The Mainland Group of silver veins produced 1,991,314 oz silver. The polymetallic silver veins in the region are most often found hosted in sediments, most notably the upper Rove Unit, near or within diabase intrusions. This geological setting parallels the other major silver district in Ontario - the Cobalt Silver District. Grades from the Mainland vein groups include up to 1.4% cobalt and 25% nickel (historic assay results from Geological Survey of Canada Report, 1889).

Honey Badger is the early mover in consolidating key ground in this historic silver camp that has seen very little exploration over the past 100 years, but has strong potential for polymetallic mineralization. The Company initiated its exploration program in March 2018 and has made several discoveries:

Geophysics and drilling uncovered >2 km “Five-element” vein (polymetallic veins that can contain, amongst others, silver, cobalt, copper, nickel, lead and zinc) at the Beaver Mine
Airborne geophysics identified numerous targets on the project’s land package that exhibit the same response as the historic Beaver Mine “Five-element” vein

The current 1,500 m drill program is testing structural traps where the likelihood of finding polymetallic silver mineralization is the highest.

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Excerpt of Honey Badger's April 5, 2018 news:

Honey Badger’s Geophysical Results Corroborate >2 km “Five-Element” Vein at its Thunder Bay Silver Project

TORONTO, April 05, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) announces that it has completed the previously announced airborne geophysical survey at its Thunder Bay Silver Project located in the Lakehead Region, west of Thunder Bay, Ontario.

The airborne magnetics on the Beaver Silver Property identified numerous targets that exhibit the same response as the historic Beaver Mine “Five-element” vein (Figure 1) that was intercepted in the first two boreholes of the current 1,500 m drilling program (March 28, 2018 News Release). “Five-element” veins are defined as polymetallic veins that can contain, amongst others, silver, cobalt, copper, nickel, lead and zinc.

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Honey Badger Exploration Inc. is the subject of a Mining MarketWatch Journal review. Full copy of the Mining Journal Review may be viewed at http://miningmarketwatch.net/tuf.htm online.

Honey Badger Exploration Inc. is a Canadian-based mining company focused on advancing its 100%-owned newly consolidated flagship Thunder Bay Silver Project in the Lakehead Region of Thunder Bay, Ontario. The inherent value of TUF.V is poised to increase over the next few months as the Company executes on its H1-2018 exploration program, including a 1,400m drill program now underway on a land package with 12 historic high-grade silver mines, with historical production >1.67M oz silver. The Beaver Silver Mine (on TUF.V's claims), for example, is reported to of had historic* production of ~500,000 oz silver, operated with an average grade of 0.2565% (>2,500g/t) silver, some zones graded 3.42% silver (34,200 g/t), and for the most-part has not seen modern exploration techniques applied (*historic non NI-43-101, sources: Szetu-1969 and Ingall-1889). TUF.V's skilled technical team has created a 3D model projecting the mineralized fluid pathways from the known fault breaks proximal the Beaver Silver Mine and on its first drill holes encountered a previously unknown 'Five Element' mineralized vein (see related March 28, 2018 news) -- there were multiple mineralized veins encountered with different orientations which suggests a much larger system than previously recognized. Assays are pending.

'Five Element', polymetallic vein groups have historically been mined in the region for silver, cobalt, nickel, lead and zinc. Important to note is the geology of Honey Badger's Thunder Bay Silver Project is similar to that found at Ontario's other silver district, the Cobalt Silver Camp, one of the most productive silver districts in the world (442 Moz silver). The main factors influencing Honey Badger Exploration to focus on this Thunder Bay project are 1) proximity to infrastructure, 2) low cost of entry on prime ground, and 3) the highly favorable geology with potential to lead to a discovery comparable with the success of the Cobalt Silver Camp.

TUF.V currently has a market cap of ~$6 million (43.49 million shares outstanding recently trading at $0.14/share). The risk-reward characteristics for establishing a long position in TUF.V are good considering a stream of exploration related news catalysts is expected over the near-term. Airborne magnetics announced on April 5, 2018 on the Beaver Silver Property identified numerous targets that exhibit the same response as Honey Badger's new March 28, 2018 “Five-element” vein found proximal the historic Beaver Mine - corroborating >2 km new potential over fault structures.

Figure 1. (above) - Location map of TUF.V's three Thunder Bay Silver Project properties (with inset of images of historic mining structures) - Seen are TUF.V's 3 properties; 1) the Beaver Property, 2) Silver Mountain Property, and 3) Mink property -- totaling 66.94 sq.km (6,694 Ha). The stars denote the location of high-grade historic silver mines. The lower image seen above is from 1892 in front of the mine office in Thunder Bay, silver bars are stacked on the sidewalk (*historic predates NI43-101). The lower image seen above is from 1892 in front of the mine office in Thunder Bay, silver bars are stacked on the sidewalk (*historic predates NI43-101). Honey Badger Exploration Inc. has since added tothe surrounding land package and has >30,000 hectares.

One of the best places to find a great deposit is near a successful past mine:

The Beaver Silver Mine (on TUF.V claims) had historic production of 500,000 oz silver (operated between 1884 and 1891), average grade of 0.2565% silver (Szetu, 1969) with zones grading 3.42% silver (34,200 g/t) (Ingall, 1889), historic drilling of 1239 g/t silver over 1 m (AFRI 52A05SE0027).

The Silver Mountain Mines (1 km North of TUF.V claims) had historic production of 700,000 oz silver (from 1888-1903 and in 1911), silver-bearing veins traced over 1,500 m in strike length, trending east-west (Franklin et al., 1986).

The first silver discoveries in Ontario occurred in this region in the 1840's, with earliest discoveries nearest the shores of Lake Superior. Area operations targeted extremely high-grade silver at intersections of favourable structure, except back then there was no modern exploration and no established claim system so there was also no large-scale exploration or understanding of systems. Historic operations were developed by drifting and were never tested for other metals. Historical records show cut-off grades for mining at some operations were set at 1,000 g/t. Mining activities stopped with falling silver price in late 1890's, then with the discovery of the Cobalt Silver District in 1903 attention was diverted away from the Thunder Bay area and there has been no meaningful exploration since. Over 5,000,000 ounces of silver were produced in the region, mostly pre-1900, well before the advent of modern exploration techniques and mining practices. Honey Badger is an early mover in consolidating key ground in this historic silver camp that has strong potential for polymetallic mineralization.

Figure 2a&b. (above) - LARGE UNTAPPED POTENTIAL - Location map and regional geology - The geological history and the overall geological setting of the Thunder Bay Polymetallic Silver Project make it a prime target for the discovery of high-grade polymetallic silver, gold, zinc, lead, and cobalt mineralization. The two main vein belts in the Lakehead Region, the Mainland and Island vein group belts are the source of a numerous past-producing* high-grade silver mines in the district. ~1.1 billion years ago the mid continental rift saw the earths mantel push up and stress the crust, causing it to split -- diabase intrusions act as channel for heat transfer towards the surface, and the heat drives large hydrothermal cells which form mineralization that can be found today. Besides Silver, historic grades from the Mainland Vein group include up to 1.4% cobalt and 25% nickel (historic assay results from Geological Survey of Canada Report, 1889).

The group of properties held or optioned by Honey Badger covers some of the most productive veins of the Thunder Bay Silver District. The geological attributes of the area and the spatial distribution of the polymetallic silver mines, showings and occurrences over approximately 100 kilometres suggest a good potential to discover additional high- grade polymetallic silver veins in the region.

Fig. 3b (below) Beaver Property - Major breaks intersect.

Figure 3a (above) - Cross-sectional profile of Beaver Property showing mineralized faults. Those faults are where the fluids are going to be circulating, and where you get intersections of faults at different directions (not shown on this figure), that is where you get good high-grade mineralization.

Honey Badger Exploration Inc. controls >5km over one of the main breaks at the Beaver Property, so any favourable intersection along that break is favourable to high-grade silver mineralization -- it just needs to be explored, which has never been done before. The system is believed large and ripe with potential for major discovery.

Search of historic data yields high-grade silver results at Beaver: The following is an example of channel samples taken on the floor of the Beaver Mine and highlight the high-grade potential of the silver veins in the area:

Level	Easting (m)	Northing (m)	Elevation (m)	Silver (Oz/t)
5	304508.35	5354828.84	298.98	105.2
5	304513.70	5354811.76	298.92	1.14
6	304500.30	5354844.49	269.79	202.4
6	304558.43	5354758.46	270.16	60
6	304580.29	5354737.59	269.79	78
6	304479.00	5354875.12	269.65	11.36
7	304474.95	5354881.76	250.87	1.02
7	304474.95	5354881.76	250.87	1.4
7	304505.88	5354831.39	251.00	3.28
7	304529.43	5354814.35	250.81	1.26

Table 1 (above) - May,1960 (Allan Grant – Stope Survey) channel samples - taken across the exposed mineralized veins still in place at approximate 1 metre intervals and assayed for silver only.

The above numbers are impressive; 105.2 Oz/t = 3,272 g/t, 202.4 Oz/t = 6,295 g/t.

H1-2018 Exploration Plans

Honey Badger's three properties host large diabase sills and important regional faults. The exploration model focuses on untested faults and the deeper/lateral extension of known mineralized faults on the properties.

Airborne geophysics are completed, field-based short-wave infrared surveys are on-going, geochemical surveys are on-going, and there is a ~1,400m drill program currently underway.

HONEY BADGER DISCOVERIES – March 2018 DRILLING

- New mineralized vein next to the Historic Beaver Mine.

- 2 holes intercept a quartz-amethyst-calcite vein with visible disseminated pyrite, galena, sphalerite and chalcopyrite.

- Vein >7 metres in length (core length) and at an angle to the known Beaver Mine Vein.

- Potential for larger system than initially anticipated.

- Current 1,500 m drill program testing structural traps where the likelihood of finding polymetallic silver mineralization is the highest.

Fig. 3c (below) Beaver Silver Mine shown with location of first two (March 2018) drill holes from TUF.V

HONEY BADGER DISCOVERIES – Recent sampling

Assay results from surface sampling have returned silver values of up to 953 g/t and zinc values of up to 14.94%. The results from the prospecting we conducted on our properties in early March confirm that high-grade silver mineralization extends over at least 2.5 km along the regional structure interpreted to control silver mineralization at the historical Beaver Mine.

Fig. 3d (below) Location of grab samples on Beaver claims:

Full copy of the Mining Journal Review may be viewed at http://miningmarketwatch.net/tuf.htm online.

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

SOURCE: Sector Newswire editorial

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