Silver North Announces Closing of Brokered LIFE Private Placement for Gross Proceeds of C$11.6 Million
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 26-05
Silver North Announces Closing of Brokered LIFE Private Placement for Gross
Proceeds of C$11.6 Million
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, BC, February 10, 2026 – Silver North Resources Ltd. (TSX -V: SNAG) “Silver
North” or the “ Company”) is pleased to announce the closing of its previously announced
brokered private placement (the “ Offering”) for aggregate gross proceeds of C$11,576,985,
which includes the exercise in full of the agent’s option . Pursuant to the Offering, the Company
sold 4,982,461 units of the Company (the “Units”) at a price of C$0.40 per Unit (the “Unit Price”)
and 17,114,286 flow-through units of the Company that were sold to charitable purchasers ( the
“Charity FT Units”, and together with the Units, the “ Offered Securities”) at a price of C$0.56
per Charity FT Unit.
Each Unit consist s of one common share of the Company and one -half of one common share
purchase warrant (each whole warrant, a “ Warrant”). Each Charity FT Unit consist s of one
common share of the Company to be issued as a “flow -through share” within the meaning of
subsection 66(15) of the Income Tax Act (Canada) (each, a “ FT Share”) and one -half of one
Warrant. Each whole Warrant entitles the holder to purchase one common share of the Company
at a price of C$0.56 at any time after April 10, 2026 to February 10, 2029.
Red Cloud Securities Inc. (“Red Cloud”) acted as sole agent and bookrunner in connection with
the Offering. As consideration for their services, Red Cloud received aggregate cash fees of
C$810,388.92 and 1,546,772 non-transferable common share purchase warrants (the “ Broker
Warrants”). Each Broker Warrant is exercisable to acquire one common share of the Company
at the Unit Price at any time on or before February 10, 2029.
The Company intends to use the gross proceeds from the Offering for exploration and related
programs on the Company ’s Haldane and Veronica properties in Yukon Territory as well as for
working capital and general corporate purposes, as is more fully described in the Amended
Offering Document (as herein defined).
The gross proceeds from the sale of Charity FT Units will be used by the Company to incur eligible
“Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms
are defined in the Income Tax Act (Canada) (the “ Qualifying Expenditures ”) related to the
Company’s Haldane and GDR p rojects on or before December 31, 202 7. All Qualifying
Expenditures will be renounced in favour of the subscribers of the Charity FT Units effective
December 31, 2026. If the Qualifying Expenditures are reduced by the Canada Revenue Agency,
the Company will indemnify each Charity FT 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.
In accordance with National Instrument 45 -106 - Prospectus Exemptions (“NI 45 -106”),
15,696,747 Offered Securities (the “ LIFE Securities ”) were issued to Canadian purchasers
pursuant to the listed issuer financing exemption under Part 5A of NI 45 -106, as amended by
Coordinated Blanket Order 45 -935 – Exemptions from Certain Conditions of the Listed Issuer
Financing Exemption (the “Listed Issuer Financing Exemption”). The securities issuable from
the sale of the LIFE Securities to Canadian purchasers are imme diately freely tradeable in
accordance with applicable Canadian securities legislation. 6,400,000 Charity FT Units were
issued pursuant to available exemptions from the prospectus requirement under NI 45-106, other
than the Listed Issuer Financing Exemption (the “ Non-LIFE Exemptions ”). The securities
issuable from Charity FT Units issued pursuant to the Non-LIFE Exemptions are subject to a hold
period in Canada ending on June 11, 2026.
There is an amended and restated offering document (the “ Amended O ffering Document ”)
related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca
and on the Company’s website at www.silvernorthres.com.
The closing of the Offering remains subject to the final approval of the TSX Venture Exchange.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) 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 (Veronica) 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.
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
Twitter: https://twitter.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. THE FORWARD -LOOKING STATEMENTS AND
INFORMATION IN THIS NEWS RELEASE INCLUDE, WITHOUT LIMITATION, STATEMENTS
REGARDING THE INTENDED USE OF PROCEEDS FROM THE OFFERING AND THE FINAL
APPROVAL OF THE OFFERING FROM THE TSX VENTURE EXCHANGE . 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.