Honey Badger Exploration Inc.

Honey Badger Exploration Inc.

July 03, 2009 08:00 ET

Honey Badger Exploration Announces Results of Annual Meeting of Shareholders and Meeting of Board of Directors

TORONTO, ONTARIO--(Marketwire - July 3, 2009) - Honey Badger Exploration, Inc. (TSX VENTURE:TUF) (the "Company") announces that the Annual and Special Meeting of its Shareholders (the "Shareholders Meeting") was held on June 23, 2009 at The Board of Trade of Metro Toronto, First Canadian Place, 3rd Floor, Toronto, Ontario at the hours of 10:30 a.m. for considering and voting upon the following matters.

Proposed Resolutions

1. To receive and consider the financial statements of the Company for the fiscal year ended December 31, 2008 and the Auditors' Report thereon.

2. To appoint MSCM LLP, Chartered Accountants, as the Auditors of the Company, and to authorize the Directors to fix their remuneration.

3. To elect a slate of 5 Directors to serve until the next Annual General Meeting of Shareholders or until such time as their successors are elected or appointed.

4. To approve continuation of the Stock Option Plan of the Company as instituted and approved by the TSX Venture Exchange.

5. To approve share issuances in lieu of cash remuneration to Directors and Officers with respect to services rendered to a maximum of $100,000.00 collectively.

6. To transact such other business as may properly come before the Meeting or any adjournment or adjournments thereof.

A quorum of the Company's outstanding common stock as of the record date of May 15, 2009 was present in person or by proxy at the Shareholders' Meeting.

Voting Summary on Resolutions

Resolution No. 2) More than 98% of the outstanding shares of common stock present at the Shareholders' Meeting voted to approve the re-election of the following persons to serve as directors of the Company, each to hold office for a term expiring at the next annual meeting of shareholders or until their successor(s) have been duly elected and qualified:

Michael Marchand

J. Kirk McKinnon

Randall Salo

Richard Schler

Kenneth M. Thompson

Resolution No. 3) More than 99% of the shares of common stock cast at the meeting voted to re-appoint Moore Stephens Cooper Molyneux LLP, Chartered Accountants, as the Company's independent registered public accounting firm for the financial year ending December 31, 2009 and to authorize the Directors to fix their remuneration.

Resolution No. 4) More than 90% of the shares of common stock cast at the Shareholders' Meeting voted to approve continuation of the current "Stock Option Plan" in accordance with the recommendations as described in the applicable TSX Venture Exchange Policy.

Resolution No. 5) More than 99% of the shares of the common stock cast at the Shareholders' Meeting voted to approve the issuance in lieu of cash remuneration to Directors and Officers with respect to services rendered to a maximum limit of $100,000.00 collectively.

BOARD OF DIRECTORS' MEETING

The Company is also pleased to announce that on June 24, 2009, following the Annual Shareholders' Meeting, a meeting of the Board of Directors of the Company was conducted via telephone conference in Toronto, Ontario, Canada.

At the Meeting, the Board of Directors unanimously approved the following appointments to serve in those capacities until the next annual Meeting of Shareholders:

J.A. Kirk McKinnon as President and Chief Executive Officer

Richard E. Schler as Chief Operating Officer and CFO

About Honey Badger Exploration Inc.

Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's current exploration projects are focused in the mining-friendly State of Nevada. The "Yerington Project" consists of two copper porphyry and skarn properties near the town of Yerington - Honey Badger's original and expanded Blackjack Property along with the recently acquired Roulette Property, optioned from Bronco Creek Exploration (BCE) in April 2008. Management believes that these properties give Honey Badger very promising exploration opportunities, and positions the Company for new exploration in a prolific copper district. The Company's common shares trade on the TSX Venture Exchange under the symbol "TUF".

For more information, please visit our website at http://www.honeybadgerexp.com.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SEDAR: 00008705E

Contact Information

  • HoneyBadger Exploration Inc.
    Brent Nykoliation
    Vice President of Business Development
    (416) 364-7029
    Fax: (416) 364-2753
    bnykoliation@honeybadgerexp.com

    HoneyBadger Exploration Inc.
    Kirk McKinnon
    President and Chief Executive Officer
    (416) 364-7029
    Fax: (416) 364-2753

    HoneyBadger Exploration Inc.
    Richard Schler
    Chief Operating Officer and CFO
    (416) 364-7029
    Fax: (416) 364-2753
    www.honeybadgerexp.com

    Honey Corporation - Calgary Office
    Michael Marchand, Ph.D., P.Geol.
    Vice-President of Exploration
    (403) 282-5105
    mmarchand@honeybadgerexp.com