Honey Badger Silver Inc. (TSXV:TUF) entered into non-binding term sheet agreement to acquire Minera Cachinal S.A. from Aftermath Silver Ltd. (OTCPK:AAGF.F) for approximately CAD 2.7 million on June 9, 2022. CAD 1 million in shares of Honey Badger payable at closing and priced at the greater of: (i) the volume weighted average share price of the Honey Badger common shares on the TSXV for a period of thirty (30) trading days immediately preceding the date of announcement of the transaction and (ii) the maximum discounted price allowed under the policies of the TSXV.? Cash Payments: a) CAD 0.4 million payable at closing, b) CAD 0.452 million six months after closing, c) CAD 0.4 million on May 21, 2023 and d) CAD 0.4 million eighteen months after closing.? Royalty: Honey Badger shall grant a 1% Net Smelter Return Royalty with a complete buyback option at Honey Badger?s sole discretion for a purchase price of CAD 8.5 million;? Production Payments: Upon commencement of commercial production, Honey Badger shall pay in cash or shares at Aftermath?s option, CAD 0.50 per payable silver ounce produced at the Cachinal Project, capped at CAD 2 million in payments As per the company's announcement on January 11, 2023, the earnout will be paid - CAD 2 million by May 31, 2023, CAD 4 million by May 31, 2024 and CAD 4 million by September 31, 2024, On February 14, 2023 Aftermath Silver Ltd entered to definitive agreement with Honey Badger Silver Inc to sell its 100% interest in Minera Cachinal S.A. The parties have agreed to a mutual break fee of CAD 0.25 million in the event a definitive agreement is not entered into prior to the expiry of the exclusivity period due to a party?s action or inaction, subject to certain exceptions outside the control of the parties. The proposed transaction will be subject to regulatory approval, including the approval of the TSX Venture Exchange. As per the announcement made on January 11, 2023. the the exclusivity period has been extended by the parties to enter into definitive documentation relating to the proposed acquisition of the Cachinal Project to February 15, 2023.

Honey Badger Silver Inc. (TSXV:TUF) cancelled the acquisition of Minera Cachinal S.A. from Aftermath Silver Ltd. (OTCPK:AAGF.F) on August 31, 2023.