Silver North arranges $2.1-million private placement

Executive Summary

• Silver North Resources Ltd. has arranged a non-brokered private placement for up to $2.1 million in gross proceeds from the sale of 6 million flow-through shares at $0.35 per share.
• The company intends to incur eligible Canadian exploration expenses related to its Yukon projects (Haldane and GDR) by December 31, 2026, and renounce these expenditures to subscribers effective December 31, 2025.
• Proceeds will fund exploration at the Haldane and GDR mineral properties, including planned follow-up drilling at the Main Fault target at Haldane.

Key Details

• Transaction Structure: Non-brokered private placement of 6,000,000 flow-through shares (FT shares).
• Price: $0.35 per FT share.
• Gross Proceeds: Up to $2,100,000.
• Share Composition: Each FT share consists of one common share qualifying as a flow-through share under Subsection 66(15) of the Income Tax Act (Canada).
• Use of Proceeds:
  • Incurring eligible Canadian exploration expenses for Yukon projects (Haldane and GDR) on or before Dec. 31, 2026.
  • Renouncing qualifying expenditures in favor of subscribers effective Dec. 31, 2025.
  • Specific operational use: Exploration of Haldane and GDR properties; follow-up drilling at the Main Fault target at Haldane (subject to weather/snow conditions).
• Finder’s Fees:
  • Red Cloud Securities Inc. acting as finder.
  • Fee structure: 7% in cash and 7% in non-transferable warrants.
  • Warrant terms: Valid for 24 months at the offering price ($0.35).
• Regulatory Status: Completion subject to TSX Venture Exchange approval and other necessary regulatory approvals.

Notable Quotes

• "Mr. Jason Weber, PGeo, president and chief executive officer of Silver North, is a qualified person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release."