Honey Badger Exploration Starts Drilling on the Thunder Bay Silver-Cobalt Project

TORONTO, March 27, 2019 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) announces the start of a 2,000-metre drilling program on the Thunder Bay Silver-Cobalt Project, located west of Thunder Bay, Ontario.

The objective of the drilling program is to follow-up on the successful 2018 drilling program and evaluate select targets along an east-west trending regional structure interpreted to control silver and cobalt mineralization.  The main target will be the silver mineralization in the down-dip extension of the vein mined in the Beaver Mine where the 2018 drilling program intersected significant high-grade silver mineralization, comprising 682 g/t silver over 2.4 m including 1254 g/t silver over 1.2 m. Additionally, Honey Badger will target the area that covers the interpreted geological extensions of the silver and cobalt intersections obtained during the 2018 drilling program. Honey Badger will target near-surface cobalt mineralization close to the Beaver Mine in a large diabase sill at its contact with the underlying Rove shale where the Company discovered 0.26% Cobalt over 10.8m.

Quentin Yarie, President and CEO of Honey Badger, stated: "We are looking forward to this next phase of drilling that will build on the significant successes of our 2018 drilling program and test the exploration potential of priority targets in new areas. We discovered high-grade silver mineralization below the historic Beaver Mine in two different structures, broad zones of cobalt mineralization near the Beaver Mine, and a chemical zonation in the shales that suggests a large hydrothermal system.

"We would also like to acknowledge and thank our shareholders for their patience and support during the extended waiting period it took to permit exploration on the property. With all the permits now in place for a period of three years, Honey Badger can move forward to explore and develop the promising Thunder Bay silver and cobalt district.”

About the Thunder Bay Silver-Cobalt Project
Honey Badger’s Thunder Bay Silver-Cobalt Project is comprised of the Beaver Silver, Silver Mountain, and Mink Mountain Silver properties, covers more than 37,850 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. 

Honey Badger is the early mover in consolidating key ground in this historic silver camp that has strong potential for polymetallic mineralization.  Since initiating its exploration program in March 2018, the Company has made several promising discoveries:

• Geophysics and drilling uncovered >2 km “five-element” veins (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; and
• Assay results from the 2018 drilling program identified high-grade silver mineralization below the lower-most level of the Beaver Mine (682 g/t silver over 2.4 metres, including 1,254 g/t silver over 1.2 metres) and discovered a wide and near-surface zone of high-grade cobalt mineralization in the Rove Shale, near the historic Beaver Mine (0.26% Cobalt over 10.8m).

On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were transported in security-sealed bags for analyses to Activation Laboratories Ltd. in Thunder Bay, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that were delivered by Honey Badger to the lab in Thunder Bay. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.

Qualified Person
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada with properties in Quebec and Ontario. 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.