Honey Badger Exploration Announces Sale of Nevada Blackjack (EGI)

Honey Badger Exploration has entered into an agreement with a wholly owned subsidiary of Entree Gold EGI to sell its interest in the HBE Blackjack property in the state of Nevada, USA. Pursuant to the terms of an option agreement between the Company and Entree dated July 20, 2009 (as amended), Entree has previously earned a 51% interest in the property and also had the right to earn up to an 80% interest in the property over a three year period. The parties have agreed to terminate the option agreement in favor of the purchase and sale agreement whereby Entree will purchase the entire remaining 49% interest in the property. Under the purchase and sale agreement Entree will pay the Company gross cash proceeds totaling US$650,000 and issue 550,000 of its common shares. The securities will be subject to a restricted period of four months and one day from the date of issuance.