ROMIOS GOLD RESOURCES LOI

• Romios Gold Resources LOI

On April 27, 2021, the Company announced that it had signed a letter of intent (the “LOI”) with Romios Gold Resources Inc. (“Romios Gold”) to acquire an 80% interest and control of 1,870 hectares (4,620 acres) in 87 mining claims covering additional historic silver properties in the Thunder Bay Silver District.

In consideration for an 80% interest in the project, Honey Badger Silver has agreed to: a) issue shares of the Company to Romios Gold for a value of $150,000 at a price equal to the volume weighted average price of its common shares, trading on the TSXV for the thirty trading days immediatelypreceding the date of the transaction’s announcement, and b) free-carry all costs and expenses related to the maintenance and advancement of the Project to pre-feasibility. Romios Gold shall grant a right of first refusal to Honey Badger Silver on its 20% remaining interest, post-transaction. If any party is diluted to a 10% or less interest in the joint venture, such party’s interest shall be converted to a 2%net smelter return royalty (2% NSR). The transaction is expected to close on or before July 30, 2021.