Silver North closes $2.1-million private placement

Executive Summary

• Silver North Resources closed its previously announced $2.1 million non‑brokered charitable flow‑through (CFT) private placement at C$0.21 per unit.
• The gross proceeds will be used to fund exploration programs on the Haldane and GDR projects in Yukon, including a 10‑hole diamond drilling campaign at Haldane’s Main Fault target.
• Finders’ fees of $54,420 cash plus 362,800 non‑transferable warrants were paid; all regulatory approvals (including TSX‑V) remain required for final completion.

Key Details

• Offering size & price: Up to C$2.1 million gross proceeds; each CFT unit sold at C$0.21.
• Unit composition: 1 common share + ½ common share purchase warrant (exercise price C$0.35, 48‑month term, expires 12 Aug 2029). Warrants issued on a non‑flow‑through basis.
• Charitable component: Some purchasers donated or resold units to charities at C$0.15 per unit.
• Use of proceeds: Exploration and related programs on Haldane (diamond drilling) and GDR (prospecting, sampling, mapping of Veronica claim block).
• Haldane drilling plan: 10‑hole, ~2,500 m program targeting expansion of Keno‑style silver‑lead‑zinc mineralization at Main Fault; aims to build on 2024 discovery hole with 1,088 g/t Ag, 3.90 g/t Au, 1.89 % Pb, 0.63 % Zn over 1.83 m.
• Finders’ fees: $54,420 cash + 362,800 non‑transferable warrants (exercisable at C$0.15 for two years, expiring 12 Aug 2027).
• Regulatory conditions: Completion and payment of finders’ fees subject to TSX‑V approval and other required regulatory clearances; finders’ warrants subject to a four‑month hold period from closing.
• Tax indemnity: Company will indemnify CFT unit subscribers for any additional taxes if CRA reduces qualifying flow‑through expenditures.

Notable Quotes

“With the closing of this offering, Silver North is now able to continue to unlock value at the Haldane property… Our 2025 program at Haldane will commence imminently.” – Jason Weber, President & CEO

All information above reflects the material facts disclosed in the company’s news release.