TORONTO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) 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
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:
- Acquiring assets in known silver-rich districts around the world: During the course of this calendar year, we have reviewed a high number of potential targets, submitted offers on a number of assets and completed the acquisition of three high-grade silver assets in the Yukon, as well as around our existing Thunder Bay silver assets. Stay tuned for more news on this front as our search for quality silver assets continues.
- Defining ounces through work on our existing silver-rich claims in the historic Yukon and district-scale Thunder Bay silver camps. This summer we completed a cost-effective surface work program on the recently acquired Plata property, targeting high-grade silver veins. This district-sized, intensely mineralized polymetallic property has a production history that is indicative of its potential. We are awaiting results in the near term and the Company will update the market accordingly.
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 (“Archer Cathro”), 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.
For more information, please visit our website above, or contact: Ms. Christina Slater at cslater@honeybadgersilver.com.
Notes
- An ETF or Exchange Traded Fund is a type of security that tracks an index, sector, commodity, or other asset, but which can be purchased or sold on a stock exchange the same way a regular stock can.
- Assessment Report describing Geophysical Surveys, Geochemical Sampling, Prospecting and Water Surveys at the Plata Project, prepared by Archer, Cathro & Associates (1981) Limited for Rockhaven Resources Inc. by Doug Eaton, B.Sc. Geology and Sarah Eaton, B.Sc. Geology, May 2008
- Cathro, R. J. (. (2006). Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, 33(3), 103–134
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historical fact may be "forward-looking information".
Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
Forward-Looking Information in this new release includes, but is not limited to: the Company’s objectives regarding its mission, and its ability to achieve related milestones; the Company’s goal to acquire high-quality silver assets and to identify any qualifying mineral resources on its current projects; the timing to achieve its business objectives; the Company’s ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); future exploration results on the Company’s projects, and the expected timing of announcements in this regard.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, but are not limited to, the market for precious metals, any impacts of COVID-19 on the Company’s mission, business objectives or projects, the Company's financial position, volatility in the trading price of common shares of the Company; the Company’s projects may not be explored or developed as planned; uncertainty relating to possible cost-overruns in implementing its business strategy and developing its projects; changes in project parameters; uncertainties associated with estimating mineral resources and mineral reserves in the future, including uncertainties regarding assumptions underlying such estimates; whether mineral resources (if any) will ever be converted into mineral reserves; opposition to exploration and/or development of the projects; the availability and ability to secure adequate financing and on favourable terms; any limitations on operations imposed by governments in the jurisdictions where the Company operates; technology risk; inability to achieve and manage expected growth; political risk associated with foreign operations; changes in government regulations, including currency controls; changes in environmental requirements; risks relating to the ability of the Company to obtain required approvals, complete definitive documentation; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver's issuer profile.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required under applicable securities laws.
