Silver North Announces Closing of $2.25 Million Flow Through Share Private Placement

Executive Summary

• Silver North Resources closed a non‑brokered private placement raising $2,250,500 from the sale of 6.43 million flow‑through shares at $0.35 per share.
• Proceeds will be used to fund eligible Canadian exploration expenses on the Company’s Yukon projects, enabling an early start to the 2026 drilling program at Haldane and follow‑up work at Veronica.
• The offering included finder’s fees of $144,931 plus 414,090 non‑transferable warrants, a four‑month hold period on all securities, and a related‑party purchase by one director (43,428 FT shares).

Key Details

• Offering Size & Price: 6.43 M flow‑through shares sold at $0.35 each → gross proceeds of $2,250,500.
• Use of Proceeds: Entire amount will be applied to “Qualifying Expenditures” (eligible Canadian exploration expenses) on Yukon projects, to be incurred by 31 Dec 2026 and renounced to FT shareholders by 31 Dec 2025.
• Finder’s Compensation: $144,931 cash plus 414,090 non‑transferable warrants issued to Red Cloud Securities Inc., the lead finder; warrants valid for 24 months at the offering price.
• Hold Period: All securities subject to a four‑month hold from closing date.
• Related Party Transaction: One director purchased 43,428 FT shares; transaction deemed exempt from formal valuation and minority approval under TSX Venture Exchange Policy 5.9 & MI 61‑101 because it did not exceed 25 % of market cap.
• Regulatory Notices: Securities not registered in the U.S.; offering not an offer or solicitation in the United States.

Notable Quotes

“This financing will give us the ability to get an early start to the 2026 drilling program at our flagship Haldane Property, as well as to conduct a follow‑up program at the Veronica silver property.” – Jason Weber, President & CEO

Materiality: Material – Positive (significant financing that directly supports upcoming exploration activities).