cobalt-silver discoveries in the thunder bay district · honey badger’s discoveries in the...

TSX-V:TUF www.honeybadgerexp.com

COBALT-SILVER DISCOVERIES IN THE THUNDER BAY DISTRICT

Corporate PresentationOctober 2018

TSX-V:TUFwww.honeybadgerexp.com


SAFE HARBOUR STATEMENT

The information set forth in this document contains “forward-looking statements”. Statements in this document, which are not purely historical, are forward-looking and include statements regarding beliefs, plans, expectations or intentions regarding the future.

Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “estimate,” “anticipate,” “believe,” “plan”, “intend”, “expect”, “may” or “should” or similar statements are forward-looking statements. Risks and uncertainties for the company include, but are not limited to, the risks associated with the impact of general economic conditions in countries in which the Company conducts business, the impact of competitive products and pricing, product demand and market acceptance, new product development, the continuation and development of key customer and supplier relationships, and the availability of high quality, qualified personnel and management.

Other risks include but are not limited to factors affecting development and expansion activities generally including access to capital to meet all of the Company’s financial requirements, and the Company’s ability to control costs. There can be no assurance that the company’s efforts will succeed and the Company will ultimately achieve sustained commercial success. These forward looking statements are made as of the date of this document, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this document are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate.

This information contained in the document has been prepared by management of the company who takes full responsibility for its contents. This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in any jurisdiction.

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WHY INVEST IN HONEY BADGER?

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▸ Significant discoveries already made in preliminary exploration program

▸ Extensive land package in an underexplored and highly prospective district

▸ First Mover – district level play

▸ 3 properties with 12 historic high-grade silver mines

▸ Demonstrated potential for cobalt and silver mineralization

▸ Strong technical team

▸ Excellent location and jurisdiction

▸ Great upside potential


CAPITAL STRUCTURE

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Honey Badger Exploration Ltd. Symbol : TUF

Listed exchange TSX-V

Market capitalization $3.7 M

Common shares outstanding 74.01 M

Warrants 22.18 M

Options 5.76 M

Fully diluted shares 101.95 M

Recent share price $0.055 (Oct. 2, 2018)

52-week high-low $0.20 - $0.04


HONEY BADGER’S DISCOVERIES IN THE THUNDER BAY CAMP

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▸ Discovery of Co-Ag±Cu-Zn mineralization never recognized before in the Thunder Bay camp

• 2018 drilling discovered multiple zones of cobalt and silver mineralization• Drilling highlights* includes:

• 0.085% Co over 24.1 m, including 0.83% Co over 1.7 m (BM-18-002)

• 0.28% Co over 4.6m and 0.28% Co over 2.1m (BM-18-003)

• 0.26% Co over 10.8 m, including 0.5% Co over 3.9 m and 0.52% Co over 1.5m (BM-18-004)

• 0.18% Co over 8.19 m, including 0.53% Co over 2.6 m (BM18-006)

• 292 g/t Ag over 4.43 m, including 921 g/t Ag over 1.4 m (BM-18-004)

• 682 g/t Ag over 2.4 m, including 1,254 g/t Ag over 1.2 m (BM-18-006)

• Grab samples taken around the 12 pas-producing mines on the property returned up to 1,503 g/t Ag and up to 5.77% Zn (The reader is cautioned that grab samples are selective by nature and may not represent the true grade mineralization).

• Geochemical anomalies interpreted as proximal to cobalt and silver mineralization identified in multiple locations on the property.

*Intersections are presented as core length. As it represents a discovery, no true width estimation is currently available for the cobalt mineralization zone. Additional drilling is required to constrain the true width of the zone.


THUNDER BAY COBALT-SILVER DISTRICT - HISTORY

▸ First silver discoveries in Ontario (1840s) – discovery made by Sir William Logan (founder of the GSC)

▸ Extremely high-grade silver operations

• Generally untested for other metals

• Sedimentary and intrusive rocks hosting the silver veins were never systematically sampled

• Mines developed by drifting with very little or no drilling

• First hole ever drilled in the country was in the Thunder Bay Silver veins

▸ Mining activities stopped with falling silver price in late 1890’s

▸ Discovery of Cobalt District in 1903 diverted attention away from district

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1892 – InfrontofthemineofficeinThunderBay,silverbarsstackedonsidewalk(ThunderBayLibrary)


THUNDER BAY COBALT-SILVER DISTRICT - LARGE UNTAPPED POTENTIAL

▸ Mineralization occurs as vein and stratiform zones with demonstrated potential for Ag, Co, Cu, Pb, Sn, Zn

▸ Geological similarities to the Cobalt Embayment – one of the most productive silver districts in the world (442 Moz silver);

▸ Mostly unexplored or under-explored with modern exploration techniques

▸ Honey Badger first holes revealed multiple zones of polymetallic Ag and Co mineralization not hosted in veins

• BM-18-002 – 0.13% Co, 0.12% Cu and 11.7 g/t Ag over 12.9 including 0.83% Co over 1.7m

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Cobalt Silver District

Thunder Bay Silver District

*Intersections are presented as core length. As it represents a discovery, no true width estimation is currently available for the mineralization zone. Additional drilling is required to constrain the true width of the zone.


HONEY BADGER’S THUNDER BAY COBALT-SILVER PROJECT

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▸ 3 main properties in the Mainland belt

▸ 378.5 sq.km (37,850 Ha)

▸ Excellent access and jurisdiction

▸ Numerous past-producing high-grademines on the properties with historic production > 1.67M oz silver

• Historic silver mines could be spatial indicators of potential Cobalt-Silver mineralization in their host rocks


THE BEAVER COBALT-SILVER PROPERTY – FOCUS OF 2018 EXPLORATION PROGRAM

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▸ Located 25 km SW of Thunder Bay

▸ 4,298 hectares

▸ Option on 3 Cairngorm Mines Ltd. Patents (326.72 hectares)

▸ 100% ownership on surrounding contiguous unpatented claims (3,971.56 hectares)

▸ 4 historic mines on the property

▸ Hosts 2nd largest individual silver mine in the district - Beaver Silver Mine

• Historic production of 500,000 oz Ag at an average grade of 0.2565% Ag (Szetu, 1969)


HONEY BADGER’S COBALT DISCOVERIES AT THE BEAVER PROPERTY

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*Intersection are presented as core length. As it represents a discovery, no true width estimation is currently available for the cobalt mineralization zones. Additional drilling is required to constrain the true width of the zones.

TSX-V:TUF www.honeybadgerexp.com 11

HONEY BADGER’S SILVER DISCOVERIES AT THE BEAVER PROPERTY

*Intersection are presented as core length. As it represents a discovery, no true width estimation is currently available for the silver mineralization zones. Additional drilling is required to constrain the true width of the zones.


OVERVIEW OF 2018 DRILLING PROGRAM RESULTS

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*Intersections are presented as core length. As it represents a discovery, no true width estimation is currently available for the cobalt and silver mineralization zones. Additional drilling is required to constrain the true width of the zones.

Cobalt • Mineralization is near-surface and appears to

be open laterally and at depth• Devoid of arsenides (environmentally friendly)• Concentrated along chemically contrasting units • Multiple “horizons” or zones of mineralization

exist• The mineralization is invisible – only the

contacts between the units can be seen

Silver• Mineralization is near-surface and was

intersected beyond the workings of the historic Beaver Mine

• Silver is present in the veins or in the shoulders of the veins in the Rove shale

• The system appears to be open laterally and at depth


RESULTS OF 2018 PROSPECTING ON EXTENDED LAND PACKAGE94 samples were collected around the 12 historical mines on the property

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Ø Grab samples returned up to 1,503 g/t Ag and up to 5.77% Zn (The reader is cautioned that grab samples are selective by nature and may not represent the true grade mineralization)

Ø High-grade Ag-Pb-Zn mineralization identified at the historic Elgin Mine, along a new structural trend north of the Beaver Mine

Ø Geochemical anomalies, interpreted as proximal to cobalt and/or silver mineralization detected near the historic Augusta and Gopher mines

Ø Geochemical anomalies revealed a new structure with potential for Ag-Co mineralization in the Pearson Township.


FOLLOW-UP EXPLORATION PROGRAMS

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Once drilling permits are received, Honey Badger will focus its next exploration programs on the numerous exploration targets identified on the property:

• Beyond the Beaver MineØ Near the other historical mines and along well defined regional structures

• Around the Beaver MineØ Silver exploration target below the mine workings in the Gunflint and Rove

formationØ Cobalt exploration targets:

§ In the lower Rove shale and upper Gunflint straddling the contact between the two formation

§ Along the contact between the diabase cap and the Rove shale


PROVEN TEAM

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President and CEO

Geophysicist with>25 years

experience in mineral exploration, involved in several

Canadiandiscoveries

Quentin Yarie, P.Geo.

CFOFinance Executive

with >15 yrs in mining industry;

former VP Finance at Franco-Nevada

and director at Integra Gold

Petra Decher, CPA, CA

Chief Geologist>8 years of

experience defining base-metals, gold

and uranium deposits in Canada

Jean-François Montreuil,

Ph.D.

Senior Project Manager>20 years

multifaceted mineral exploration

expertise Glencore-Raglan

Conrad Dix, P.Geo.


BOARD OF DIRECTORS

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Financial executive and entrepreneur

with >20 years experience in mining sector;President at

OptimizeGroup

Tara Gilfillan, CPA, ICD.D

Nevsun’s BishaProject

discovery;NextSource

Minerals’ MoloGraphite

Discovery; CEO of NextSource

Craig Scherba, P.Geo.

>20 years experience in

mine design and planning;

Principal, Metals and Mining

Consulting at Wood Mackenzie

Kevin Tanas, P.Eng.

Former portfoliomanager, buy-side analyst

and consulting engineer in

mining sector; SVP at Red

Cloud Klondike Strike

Chad Gilfillan, P.Eng., CFA

Geophysicist with >25 years experience in

mineral exploration, President &

CEO

Quentin Yarie,P.Geo.

TSX-V:TUF www.honeybadgerexp.com 17

Mia Boiridy, M.Sc.Investor [email protected]

Corporate Office145 Wellington Street West, Suite 1001Toronto, ON M5J 1H8T: 416 364-7029

www.honeybadgerexp.comTSX-V:TUF

cobalt-silver discoveries in the thunder bay district · honey badger’s discoveries in the...

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