Silver North Announces Closing of $2.25 Million Flow Through Share Private Placement
Trading Symbol (TSX-V: SNAG)
410-325 Howe Street
Vancouver, British Columbia
Canada V6C 1Z7
Tel: (604) 687 3520
Fax: 1-888-889-4874
www.silvernorthres.com
NR 25-24
Silver North Announces Closing of $2.25 Million Flow Through Share
Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, BC, December 19, 2025 – 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: https://www.linkedin.com/company/silvernorth-res-ltd/
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.