Honey Badger Announces Delayed Filing of Annual Disclosure Documents Pursuant to Temporary Relief Granted by Regulators

Toronto, Ontario--(Newsfile Corp. - April 24, 2020) - Honey Badger Exploration Inc. (TSXV: TUF) ("Honey Badger" or the "Company") today announced that it will be delaying the filing and delivery of certain of its continuous disclosure documents, in accordance with BC 51-515 Temporary Exemption from Certain Corporate Finance Requirements (the "Blanket Exemption Order") which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posted by the COVID-19 pandemic.

The Company is relying on the Blanket Exemption Order in delaying (i) the filing of its annual financial statements and related management discussion and analysis for the year ended December 31, 2019 (the "Annual Financial Statements") required pursuant to National Instrument 51-102 Continuous Disclosure Obligations and (ii) the filing of certifications of the Annual Financial Statements required pursuant to National Instrument 52-109 Certification of Disclosure in Issuer's annual and Interim Filings (collectively with the Annual Financial Statements, the "Required Annual Filings") and compliance with the delivery requirements of applicable securities laws relating to the Required Annual Filings.

The officers and directors of the Company and certain other persons will be subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions pursuant to which such persons are prohibited from trading in any securities of the Company.

The Company currently intends to make the Required Annual Filings by May 31, 2020.

Since the filing of the Company's third quarter 2019 interim financial statements and related management discussion and analysis on November 28, 2019 (the "Q3 Filings"), the Company has disclosed by way of news release or filings on SEDAR, the following significant business developments: it announced on December 11, 2019 that Ms. Fiona Fitzmaurice, BA, ACCA, CPA, CGA was appointed as Honey Badger's Chief Financial Officer and further announced on that date that it had completed surface exploration work on its Thunder Bay Silver-Cobalt Project, located southwest of Thunder Bay, Ontario. There have been no material business developments since the date of the Company's Q3 Filings.

About Honey Badger Exploration Inc.

Honey Badger is a mineral exploration company headquartered in Toronto, Ontario, Canada with properties in Quebec and Ontario including an interest in the Thunder Bay Cobalt-Silver Project. The Company's common shares trade on the TSX Venture Exchange under the symbol "TUF".

For more information, please visit our website at http://www.honeybadgerexp.com.

Or contact:

Quentin Yarie, President & CEO, (416) 364-7029, qyarie@honeybadgerexp.com
or
Mia Boiridy, Investor Relations, (416) 364-7029, mboiridy@honeybadgerexp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

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. 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 by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54874