BEAVER SILVER PROPERTY

BeaverSilverProperty

coverssomeofthemostproductivesilver-bearingveinsoftheRabbitMountain group of deposits. including the high-grade Beaver Silver Mine that operated between 1884 and 1891 and produced over 500,000 oz silver at an average grade of 0.25% with zones grading up to 3.42% Ag (Ingall, 1889, Szetu, 1969).

HONEY BADGER MD&A – For the three months ended March 31, 2021 Page 5

On July 19, 2018, the Company entered into an option agreement to acquire up to a 100% interest in the Beaver Silver Property from Cairngorm Mines Ltd. Under the terms of the option agreement, the Company may exercise the option over a three-year period, by making cash payments totaling $75,000 (paid), by issuing common shares with a market value of $410,000 over the option period, and incurring exploration expenditures of $750,000 over the option period. At that point the optionor will be granted a 2% NSR which may be repurchased by the Company for $1,000,000.

As of March 31, 2021, the Company has issued 357,143 common shares valued at $42,857 on August 10, 2018 and 6,000,000 common shares, valued at $240,000 on August 7, 2019