Production / Operations Routine +

Airborne Geophysical Survey Completed at Silver North's Haldane Silver Project, YT and Silver North Retains Full Ownership of the Tim Property, YT

Survey Completion and Asset Consolidation Signal Operational Readiness Amidst Downtrend

By The Northwire Desk — AI Analysis Apr 28, 2026 · 07:31 SNAG · 0.27 Silver North Resources Ltd.

Executive Summary

Airborne Geophysical Survey: Silver North completed a 944 line-kilometre SkyTEM312 survey at its flagship Haldane Silver Project in Yukon. The data collected includes magnetics and time-domain electromagnetic (TDEM) information intended to refine drill targeting for the 2026 program.
Tim Property Ownership: Coeur Mining has terminated its Option Agreement on the Tim Silver Property effective May 24, 2026. Silver North retains 100% ownership of the property.
Exploration Planning: Management intends to integrate the new geophysical data with previous drilling results from both the Tim and Veronica properties to prioritize the upcoming exploration program.
Historical Context: Previous work by Coeur on Tim identified Carbonate Replacement Deposit (CRD) style mineralization, though grades were significantly lower than Haldane's Main Fault intercepts (Coeur best: 52.8 g/t Ag vs Haldane best: >2,000 g/t Ag).

Material Impact

Survey Completion: This is a routine operational update following the March 9 announcement that the survey was underway. It confirms progress but does not introduce new geological data or discovery results yet. The market impact is neutral to slightly positive as it clears the path for targeted drilling.
Coeur Termination: While retaining full ownership of Tim is an asset consolidation win, Coeur Mining's decision to terminate the option suggests they did not meet earn-in milestones or deemed the project insufficiently viable compared to their portfolio. This removes potential external funding ($3.55M spend + $275k cash) but eliminates future dilution from an earn-in. Given Haldane is the primary value driver with significantly higher grades, this is a secondary asset clarification rather than a fundamental valuation shift.
Overall: The news confirms operational continuity and clarifies ownership structure without introducing new high-grade intercepts or major financing. It supports the narrative of management executing their plan but lacks the "Game Changer" catalyst required for a Material - Positive rating.

SNAG · Price

Company Overview

Company: Silver North Resources Ltd. (TSX-V: SNAG).
Flagship Project: Haldane Silver Property in the Keno Hill Silver District, Yukon. Located adjacent to Hecla Mining's Keno Hill Mine.
Project Status: Exploration/Development stage. No defined resource estimate yet; focused on high-grade intercepts and structural modeling.
Key Targets: Main Fault (Haldane), Bighorn, Johnson, West Fault, Middlecoff.
Other Assets: Tim Silver Property (100% owned after Coeur exit) and Veronica/GDR Project in the Silvertip District.

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