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Vancouver, BC, December 19, 2025 TheNewswire - Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) "Silver North" or the "Company") is pleased to announce that the non-brokered private placement (the "Offering") for aggregate gross proceeds of $2,250,500 from the sale of 6.43 million flow-through shares of the Company (the "FT Shares") sold at a price of $0.35 per FT Share was closed today. Each FT Share is comprised of one common share that will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act").
Jason Weber, President and CEO, noted that "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. Our work this winter will be focused on incorporating the 2025 data, interpreting it and targeting next year's drilling. We can now plan on starting as early as conditions will allow this spring and maximizing the field season in 2026. Detailed plans for 2026 will be announced once we have received and interpreted all of the 2025 results."
The Company will use an amount equal to the gross proceeds from the sale of FT Shares, pursuant to the provisions in the Tax Act, to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Tax Act (the "Qualifying Expenditures") related to the Company's Yukon projects, on or before December 31, 2026, and to renounce all of the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2025.
The Company paid finders' fees comprised of $144,931 and 414,090 non-transferable warrants in connection with the Offering. The finder's warrants are valid for 24 months at the Offering price. All securities are subject to a four-month hold from the date of closing. Red Cloud Securities Inc. was the lead finder in connection with the Offering.
One director of the Company purchased 43,428 FT Shares under the private placement. The placement to this person constitutes a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
The securities described herein have not been, and will not be, registered under the U.S. Securities Act, as amended, or any state securities laws, and accordingly, may not be offered or sold within the United States or the US persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Silver North Resources Ltd.
Silver North's primary assets are its 100% 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, BC 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 under the symbol "I90" on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://X.com/SilverNorthRes
LinkedIn:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD- LOOKING STATEMENTS.
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