Silver North closes $2.1-million private placement

Mr. Jason Weber reports SILVER NORTH CLOSES PREVIOUSLY ANNOUNCED $2.1 MILLION PRIVATE PLACEMENT Silver North Resources Ltd.'s non-brokered private placement, announced June 23, 2025, has now closed. "With the closing of this offering, Silver North is now able to continue to unlock value at the Haldane property in the historic Keno Hill silver district," stated Jason Weber, PGeo, president and chief executive officer of Silver North. "Our 2025 program at Haldane will commence imminently. We look forward to building on our Main Fault silver discovery from 2024." As announced, the offering for aggregate gross proceeds of up to $2.1-million from the sale of charity flow-through (CFT) units of the company was sold at a price of 21 cents per CFT unit. Each CFT unit comprises one common share and one-half of one common share purchase warrant of the company, each of which will qualify as a flow-through share within the meaning of subsection S6(15) of the Income Tax Act (Canada). Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 48 months from the issue date of the CFT units at an exercise price of 35 cents per warrant share, expiring Aug. 12, 2029. The warrant share will be issued on a non-flow-through basis. In connection with the offering, certain purchasers of CFT units subsequently: (i) donated some or all of such CFT units to registered charities, which may sell such CFT units to third party investors; and/or (ii) sold some or all of such CFT units to third party investors, in each case, at a price of 15 cents per unit. The company intends to use the gross proceeds raised from the sale of CFT units for exploration and related programs on the company's Haldane and GDR mineral properties in Yukon. The company will use an amount equal to the gross proceeds from the sale of CFT units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) related to the company's projects in Yukon, on or before Dec. 31, 2026, and to renounce all the qualifying expenditures in favour of the subscribers of the CFT units effective on or before Dec. 31, 2025. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each CFT unit subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed. The company paid finders' fees comprising $54,420 cash and 362,800 non-transferable warrants in connection with the offering, subject to compliance with the policies of the TSX Venture Exchange. Each finder's warrant is exercisable at 15 cents for a period of two years expiring on Aug. 12, 2027. Completion of the offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX-V. The CFT units offered are done so under a charitable donation arrangement structured by PearTree Securities Inc. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the CFT units were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering was completed pursuant to the listed issuer financing exemption, the securities issuable from the sale of CFT units to Canadian resident subscribers in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws. The finders' warrants are subject to a four-month hold from the date of closing. The offering document related to the offering can be accessed under the company's profile on SEDAR+ and on the company's website. Use of proceeds Proceeds from the contemplated financing will be used for exploration of the company's Haldane and GDR projects, both of which are located in Yukon. A prospecting, sampling and mapping program is slated for the Veronica claim block of the GDR project, located adjacent to the company's Tim property (under option to Coeur Mining) in the Silvertip district of southern Yukon. Exploration will follow up on an unexplained multielement soil geochemical anomaly thought to potentially reflect covered CRD-style (carbonate replacement deposit) silver-lead-zinc mineralization. At Haldane, a 10-hole (2,500-metre) diamond drilling program will target expansion of Keno-style silver lead-zinc mineralization at the newly identified Main Fault target, a wide zone with at least three high-grade silver veins identified to date. Drilling will aim to expand both along strike and to depth of the two discovery holes completed in 2024, one of which returned 1,088 grams per tonne (g/t) silver, 3.90 g/t gold, 1.89 per cent lead and 0.63 per cent zinc over 1.83 metres (refer to Silver North's news release dated Nov. 14, 2024). Drilling will commence shortly. About Silver North Resources Ltd. Silver North's primary assets are its 100-per-cent-owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill mine project), the Tim Silver project (under option to Coeur Mining Inc. in the Silvertip/Midway district, British Columbia and Yukon) and the GDR project, also in the Silvertip/Midway district. Silver North also plans to acquire additional silver properties in favourable jurisdictions. The company is listed on the TSX Venture Exchange under the symbol SNAG, trades on the OTCQB Market in the United States under the symbol TARSF and on the Frankfurt Stock Exchange under the symbol I90. Jason Weber, PGeo, president and chief executive officer of Silver North Resources, is a qualified person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this news release and approved the news release. We seek Safe Harbor.