Silver North Announces Private Placement for Gross Proceeds of up to C$1.25 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 24-08
Silver North Announces Private Placement for Gross Proceeds of up to C$1.25
Million
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, BC, June 6, 2024 – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB:
TARSF) “Silver North ” or the “ Company ”) is pleased to announce a non-brokered private
placement (the “ Offering ”) for aggregate gross proceeds of up to $1,250,000 from the sale of
the following:
(i) non-flow-through units of the Company (the “ NFT Units ”) to be sold at a price of $0.16 per
NFT Unit for gross proceeds of up to $250,000 from the sale of NFT Units; and (ii) charity flow-
through units of the Company (the “ CFT Units ”, and together with the NFT Units, the “ Offered
Securities ”) to be sold at a price of $0.225 per CFT Unit for gross proceeds of up to $1,000,000
from the sale of CFT Units. Each NFT Unit will be c omprised of one common share in the
capital of the Company (each, a “ Common Share ”) and one common share purchase warrant
(a “ Warrant ”). Each CFT Unit will be comprised of one Common S hare that will qualify as a
“flow-through share” within the meaning of subsecti on 66(15) of the Income Tax Act (Canada)
(the “ Tax Act ”) and one Warrant. The Warrants for all units will be subject to the same terms,
with each Warrant entitling the holder thereof to p urchase one Common Share (a “ Warrant
Share ”) for a period of 48 months from the issue date of the Offered Securities at an exercise
price of $0.35 per Warrant Share.
The Company intends to use the gross proceeds raise d from the sale of CFT Units for
exploration and related programs on the Company’s H aldane and GDR mineral properties. The
gross proceeds from the sale of NFT Units will be u sed for working capital and general
corporate purposes.
The Company will use an amount equal to the gross p roceeds from the sale of CFT Units,
pursuant to the provisions in the Tax Act, to incur eligible “Canadian exploration expenses” that
qualify as “flow-through mining expenditures” as bo th terms are defined in the Tax Act (the
“Qualifying Expenditures ”) related to the Company's projects in the Yukon, on or before
December 31, 2025, and to renounce all the Qualifyi ng Expenditures in favour of the
subscribers of the CFT Units effective December 31, 2024. If the Qualifying Expenditures are
reduced by the Canada Revenue Agency, the Company w ill indemnify each CFT 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.
The Company may pay finders’ fees comprised of cash and non-transferable warrants in
connection with the Offering, subject to compliance with the policies of the TSX Venture
Exchange (“ TSXV ”). Completion of the Offering and the payment of a ny finders’ fees remain
subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.
Subject to compliance with applicable regulatory re quirements and in accordance with National
Instrument 45-106 – Prospectus Exemptions (“NI 45-106 ”), the Offered Securities will be offered
for sale to purchasers resident in Canada and/or ot her qualifying jurisdictions pursuant to the
listed issuer financing exemption under Part 5A of NI 45-106 (the “ Listed Issuer Financing
Exemption ”). Because the Offering is being completed pursuan t to the Listed Issuer Financing
Exemption, the securities issuable from the sale of Offered Securities to Canadian resident
subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian
securities laws.
There is an offering document related to the Offeri ng that can be accessed under the
Company’s profile at www.sedarplus.ca and on the Co mpany’s website at
www.silvernorthres.com. Prospective investors shoul d read this offering document before
making an investment decision.
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 exc ept 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 no t 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 Ha ldane 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 u nder 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 Silve r 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
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 OBJECTIV ES OR EXPECTED RESULTS,
MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOO KING STATEMENTS ARE
BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO AL L OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT,
ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCR IBED IN THE FORWARD-
LOOKING STATEMENTS.