Honey Badger Silver Executes 2026 Field Program Targeting Massive Pyrite and New Critical Minerals Potential at Nanisivik Project, Nunavut
Honey Badger Silver advances Nanisivik’s massive-pyrite and critical-mineral potential with new sampling, pending assays and a correction to prior gold-grade disclosure.
Rhea-AI Summary
Honey Badger Silver (HBEIF) has completed its 2026 field exploration program at the 100%-owned Nanisivik Project on Baffin Island, Nunavut.
The program targeted two main opportunities: an extensive massive-pyrite system and additional silver-zinc-lead and critical-mineral potential outside historic mine workings. Field crews, managed by APEX Geoscience, collected massive pyrite and polymetallic samples (including sphalerite, galena and pyrite) from float and outcrop across multiple zones. Samples were shipped under chain-of-custody to an independent accredited lab for multi-element analysis, with assays pending.
Nanisivik’s past production totals about 17.9 Mt grading 9% zinc, 0.7% lead and 35 g/t silver, while historical publications describe 50–100 Mt of massive pyrite (non-compliant estimate). The company also corrected a prior disclosure, revising a reported gold grade from 0.54% to 0.54 g/t for one historical drill hole.
Positive
- 2026 field program completed at Nanisivik, collecting massive pyrite and polymetallic samples for multi-element analysis, with assays pending as a potential near-term catalyst.
- Historical Nanisivik production of about 17.9 Mt grading 9% Zn, 0.7% Pb and 35 g/t Ag underpins the project’s established mineralized district.
- Historical, non-compliant estimate of 50–100 Mt massive pyrite highlights a potentially large sulphur-bearing system the company is now evaluating.
- Recent prospecting at Nanisivik targets returned grab samples up to 249 g/t silver and 51.5% zinc, indicating high-grade exploration potential outside historic workings.
- Honey Badger Silver holds over 10,000 ounces of physical silver reportedly yielding about 12% annually, providing tangible asset backing alongside exploration.
Negative
- The reported gold grade for drill hole DH Y-74-01 was previously overstated at 0.54% and has been corrected to 0.54 g/t, which may temper perceptions of that interval.
- The 50–100 Mt massive pyrite estimate is historical and non-compliant; the company notes its reliability is uncertain and it is not treated as a current resource or reserve.
News Explained
Honey Badger Silver has completed Nanisivik sampling, but assays are pending; its historical 50–100 million-tonne pyrite estimate is not a current resource or reserve and would require confirmatory drilling and sampling to verify.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - September 4, 2026) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (FSE: 1QA) (Tradegate: 1QA) ("Honey Badger Silver" or the "Company") is pleased to announce the details of the 2026 field exploration program at its
Chad Williams, Executive Chairman and Interim CEO, commented:
"Our focus for the 2026 on-site work at Nanisivik was to substantiate the potential of this project to host economic zones of silver-bearing mineralization. Importantly, mineralization at Nanisivik is known to contain zinc, lead, and potentially many other critical minerals. In particular, historic references to large existing silver-bearing pyrite zones are now very interesting because of the recent dramatic rise in the price of sulphur. In addition, the substantial rise in the price of certain critical minerals – like germanium – given their new highly strategic importance, has motivated Honey Badger to look at Nanisivik with a fresh lens. These minerals were never considered important during the many years that Nanisivik operated as an underground mine. In summary, Nanisivik contains many promising zones located throughout the large project area controlled by Honey Badger."
2026 FIELD PROGRAM AND NEXT STEPS
Building upon the Company's positive 2025 exploration results and its recently announced initiative to evaluate extensive massive-pyrite mineralization (see News Release dated July 28, 2026), the recently executed 2026 field program was designed to advance two specific emerging opportunities at Nanisivik: 1) the documented extensive massive-pyrite system and 2) additional silver-zinc-lead mineralization and critical-mineral potential located outside of the historic mined zones, providing an opportunity to further characterize the mineralized system using modern analytical methods.
The field team was managed by APEX Geoscience, overseen by Honey Badger Silver. The team successfully collected samples of massive pyrite as well as other potentially mineralized samples containing sphalerite, galena, and pyrite, from both float and outcrop across multiple zones across the property (see Figure 1).
Figure 1. Photographs from the 2026 field program at Nanisivik where the crew located massive pyrite (right image) in float material interpreted to have come from the overlying gossanous outcrop (left image). Assays are pending.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3204/312932_96ca7a602416d8c5_001full.jpg
Samples collected during the program were transported under chain-of-custody procedures and submitted to an independent accredited laboratory for multi-element geochemical analysis. The Company expects the analytical results to provide valuable information on the composition of the pyrite-rich mineralization and to assist in evaluating the potential for germanium and other critical or potentially valuable elements within the system.
Upon receipt of the analytical results, Honey Badger Silver will integrate the new data with historical geological, geochemical and geophysical information to refine its understanding of the Nanisivik mineralized system. The Company will then evaluate opportunities for additional analytical work, metallurgical testing and other follow-up studies, as warranted, and assess potential future exploration programs, including drilling and/or other methods of testing priority targets.
NANISIVIK HIGHLIGHTS
Proven mineralized district: The former Nanisivik Mine produced approximately 17.9 Mt grading
9% zinc,0.7% lead and 35 g/t silver, equivalent to 3.55 billion pounds of zinc, 284 million pounds of lead and 20.1 million ounces of silver.1Potential large-scale sulphur opportunity: Historical publications reported an estimated 50–100 Mt of massive pyrite mineralization within the South Boundary and North Pyrite zones (see additional information below).2
Critical-minerals upside: Honey Badger Silver is evaluating the extensive sulphide system for germanium and other critical minerals that were not systematically evaluated during historical mining.
Additional high-grade exploration targets: Recent prospecting at the Area 14 Target returned grab samples grading up to 249 g/t silver and
51.5% zinc, while geophysics identified new conductors away from the former mine site.2026 assays pending: New samples of massive pyrite and prospective polymetallic mineralization have been submitted for modern multi-element analysis, providing a potential near-term catalyst.
ABOUT NANISIVIK
The Nanisivik Project is located on northern Baffin Island, Nunavut, near the community of Arctic Bay and encompasses the area surrounding the former Nanisivik Mine. The mine operated from 1976 to 2002 and produced approximately 17.9 million tonnes of ore grading
In addition to the mineralization that was mined, historical publications describing mining operations at Nanisivik indicate the presence of extensive massive pyrite mineralization within the South Boundary Zone and North Pyrite Zone (Figure. 2).2 McNeil et al. (1993) reported a historical, non-compliant estimate ranging from 50 to 100 million tonnes of massive pyrite.2 The Company considers the estimate to be relevant as it highlights the potential for a large pyrite-bearing system at Nanisivik and supports the exploration rationale for evaluating the sulphur potential of the property. While the estimate was reported by authors familiar with mine operations and regional geology at the time, the reliability of the estimate is uncertain because the publication does not disclose sufficient information regarding the estimation methodology, assumptions, classification criteria, or supporting data necessary to evaluate the estimate under current CIM standards or NI 43-101 requirements. Verification and potential upgrading of the historical estimate would likely require review of available historical geological, sampling and drilling data, together with confirmatory drilling and sampling to validate the extent and continuity of the pyrite mineralization. A Qualified Person has not completed sufficient work to classify these historical figures as current mineral resources or mineral reserves, and the Company is not treating them as such.
The Nanisivik mineralized system also exhibits potential for germanium and other critical metals, which were not systematically evaluated during historical mining operations, but noted in past reports to be associated with metals like zinc.3 Honey Badger Silver is undertaking additional sampling and analysis to evaluate the potential for germanium and other critical minerals within existing and potentially new zones of mineralization.
Honey Badger Silver has also identified potential silver-zinc-lead mineralization outside the historic mine workings, including multiple priority targets generated through its review of historical drilling and geophysical data. Recent exploration has highlighted the Area 14 and Oceanview areas, where prospecting returned grab samples grading up to 249 g/t silver and
The combination of a past-producing high-grade silver-zinc-lead mine, an extensive pyrite-bearing sulphide system, opportunity for finding new polymetallic mineralization and potential critical-mineral content provides Honey Badger Silver with multiple avenues for value creation at Nanisivik.
Figure 2. Property map of the Nanisivik Project showing surface projections of the massive pyrite and Silver-Zinc-Lead bodies. Historic surface drillholes are also shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3204/312932_96ca7a602416d8c5_002full.jpg
ERRATUM
The Company wishes to correct an error in its previous disclosure dated August 27, 2026, regarding historical drill results from the Yava Main Zone. The previously reported result for drill hole DH Y-74-01 was stated as 40.1 meters grading 67.53 g/t silver,
About Honey Badger Silver (TSXV: TUF) (OTCQB: HBEIF) (FSE: 1QA) (Tradegate: 1QA)
Honey Badger Silver is a leading North American silver and critical minerals company. Backed by an impressive portfolio of 8 high-quality silver mineral projects across the Northwest Territories, Yukon, and Nunavut, including the fully permitted, high-grade PC Silver Mine, Sunrise Lake, Plata, Yava and Nanisivik properties, Honey Badger Silver controls district-scale land positions in some of the most metal-rich jurisdictions on the continent.
What sets Honey Badger Silver apart is its strategic blend of real silver ownership and growth leverage: the Company holds over 10,000 ounces of physical silver yielding
Led by a proven team of mine-builders and capital markets professionals, Honey Badger Silver is building a cash-generating, asset-backed platform for the bull cycle in precious and critical minerals.
More information is available at www.honeybadgersilver.com.
Chad Williams
Executive Chairman, Interim CEO
Investor Relations
investors@honeybadgersilver.com | +1 (647) 226-7315
Historical Information
(1) Patterson, D.J., & Powis, K.B. (2002). Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley-Type Deposit, Northern Baffin Island, Nunavut. Geological Survey of Canada, Current Research 2002-C22.
(2) McNeil, W.H., Rawling, K.R. and Sutherland, R.A. (1993). Nanisivik Mine – Operations and Innovations in an Arctic Environment. Proceedings of World Zinc '93, pp. 41–52.
(3) Sutherland, R.A. and Dumka, D., 1995. Geology of Nanisivik Mine, N.W.T., Canada. In: Misra, K.C. (ed.), Carbonate-Hosted Lead-Zinc-Fluorite-Barite Deposits of North America. Society of Economic Geologists, Guidebook Series, Vol. 22, p. 4–12.
(4) Cote, R. and Campbell, C. (2008). The Yava Property of Savant Explorations Limited, Hackett-Back River Greenstone Belt, Mackenzie Mining District, Territory of Nunavut, Canada: The 2007 High Resolution HeliGEOTEM Survey and Preliminary Ground Follow-Up Using Rock and Soil Geochemical Sampling over Selected A.E.M. Anomalies. National Instrument 43-101 Technical Report, dated February 15, 2008.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The scientific and technical data contained in this news release pertaining to the Project was reviewed and approved by Andrew Jedemann, MSc., P.Geo. who is an independent consultant and "qualified person" within the meaning of NI 43-101.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release, including, without limitation, Honey Badger Silver's strategic objectives and the potential of the Company's mineral projects. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ under Honey Badger Silver's issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312932
FAQ
What did Honey Badger Silver (HBEIF) announce about its 2026 Nanisivik field program?
Honey Badger Silver announced that it has executed its 2026 field exploration program at the Nanisivik Project, targeting extensive massive pyrite and additional silver-zinc-lead and critical-mineral potential outside the historic mine zones. Samples were collected across multiple areas and submitted for modern multi-element analysis.
What are the main exploration targets in Honey Badger Silver’s 2026 Nanisivik program for HBEIF?
The 2026 program focuses on two emerging opportunities: 1) a documented, extensive massive-pyrite system in the South Boundary and North Pyrite zones, and 2) additional silver-zinc-lead and critical-mineral potential located outside historic mined areas, supported by recent high-grade grab samples and geophysical conductors.
Are assay results from the 2026 Nanisivik sampling program for Honey Badger Silver (HBEIF) available yet?
No. The company states that samples from the 2026 program, including massive pyrite and polymetallic mineralization, have been submitted to an independent accredited laboratory for multi-element geochemical analysis, and assays are pending, representing a potential near-term catalyst once results are received.
How much historical production and mineralization does the Nanisivik Project linked to HBEIF have?
The former Nanisivik Mine produced about 17.9 million tonnes grading 9% zinc, 0.7% lead and 35 g/t silver, equivalent to roughly 3.55 billion pounds of zinc, 284 million pounds of lead and 20.1 million ounces of silver before closing in 2002 due to falling metal prices.
What is the historical massive pyrite estimate at Nanisivik mentioned by Honey Badger Silver (HBEIF)?
Historical publications report a non-compliant estimate of 50–100 million tonnes of massive pyrite in the South Boundary and North Pyrite zones. Honey Badger Silver views this as indicating a large pyrite-bearing system but emphasizes the estimate’s reliability is uncertain and it is not classified as a current resource or reserve.
What high-grade grab sample results were highlighted at Nanisivik by Honey Badger Silver (HBEIF)?
Recent prospecting at the Area 14 Target returned grab samples grading up to 249 g/t silver and 51.5% zinc. Geophysical surveys also identified new untested conductors away from the former mine site, supporting additional high-grade exploration targets at Nanisivik.
What correction did Honey Badger Silver (HBEIF) make regarding historical drill results at Nanisivik?
The company issued an erratum correcting the gold grade for drill hole DH Y-74-01. A previous disclosure stated 0.54% gold; the correct value is 0.54 g/t gold. All other reported grades for that interval, including silver, copper, zinc and lead, remain unchanged.