19 March 2026
Toronto, Ontario, March 19, 2026 | Honey Badger Silver Inc. (“Honey Badger” or the “Company”) (TSX-V: TUF; OTCQB: HBEIF) is pleased to announce that it entered into a definitive agreement dated March 13, 2026 (the “Agreement”) to acquire all of the issued and outstanding shares of Canadian Zinc Corporation (“CZC”), 100% owner of the Prairie Creek Project (“PC Silver Project”, or the “Project”), from Resource Capital Fund VI L.P. (“RCF”), an arm’s length party to the Company, for C$10 million in cash plus C$2 million in Honey Badger shares and warrants (the “Acquisition”).
The PC Silver Project is a major permitted underground silver-zinc-lead project located in the Northwest Territories. Significant progress has been made at the Project in recent years including receiving all key regulatory and permitting approvals[1]. The Project has been advanced through multiple economic studies, including a 2021 Preliminary Economic Assessment and a 2017 Feasibility Study. Impacts and Benefits Agreements (“IBAs”) have been signed by the two impacted Indigenous Governments – the Nah?? Dehé Dene Band in Nahanni Butte and the ?i?i?dli?i? Ku??e?? First Nation in Fort Simpson – along with a Benefit Agreement with the Acho Dene Koe First Nation in Fort Liard. In addition, a winter road with significant investments and progress towards an all-season road have been made, including road clearing, detailed engineering and management plans.