Silver North Announces Upsize of Brokered LIFE Private Placement for Gross Proceeds of up to C$7.0 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 26-02
Silver North Announces Upsize of Brokered LIFE Private Placement for Gross
Proceeds of up to C$7.0 Million
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, BC, January 1 6, 2026 – Silver North Resources Ltd. (TSX -V: SNAG) “Silver
North” or the “Company”) is pleased to announce that as a result of strong investor demand, the
Company and Red Cloud Securities Inc. (“Red Cloud”) have agreed to increase the maximum
gross proceeds of its previously announced “best efforts” private placement (the “ Marketed
Offering”) from C$5,000,000 to C$ 7,000,000. Pursuant to the upsized Marketed Offering, the
Company has agreed to sell (i) up to 5,000,000 units of the Company ( the “Units”) at a price of
C$0.40 per Unit and (ii) up to 8,928,572 flow-through units of the Company to be 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 . Red Cloud is acting as sole agent and bookrunner in
connection with the Offering.
Each Unit will consist 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 will consist 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 shall entitle the holder to purchase one common share of the
Company at a price of C$0.56 at any time after the 60th day following the Closing Date (as herein
defined) to the date that is on or before that date which is 36 months after the Closing Date.
The Company has also granted Red Cloud an option, exercisable in full or in part up to 48 hours
prior to the closing of the Marketed Offering, to sell up to an additional C$1,000,000 in any
combination of Units and Charity FT Units at their respective offering prices (the “ Agent’s
Option”). The Marketed Offering and the securities issuable upon exercise of the Agent’s Option
shall be collectively referred to as the “Offering”.
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 FT Shares 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.
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45 -106 - Prospectus Exemptions (“NI 45 -106”), the Offered Securities under the
Offering will be offered for sale to purchasers resident in the provinces of Alberta, British
Columbia, Manitoba, Ontario and Saskatchewan 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 Offered Securities are expected to be
immediately freely tradeable in accordance with applicable Canadian securities legislation if sold
to purchasers resident in Canada. The Units will also be offered in the United States or to, or for
the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions
from the registration requirements provided for under the United States Securities Act of 1 933,
as amended (the “ U.S. Securities Act”), and in jurisdictions outside of Canada and the United
States on a private placement or equivalent basis, in each case in accordance with all applicable
laws, provided that no prospectus, registration statement or other similar document is required to
be filed in such jurisdiction.
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. Prospective investors should read this
Amended Offering Document before making an investment decision.
The Offering is expected to close on or about February 5, 2026 (the “ Closing Date”), or such
other date as the Company and Red Cloud may agree. Completion of the Offering is subject to
certain conditions including, but not limited to the receipt of all necessary approvals, including the
approval of the TSX Venture Exchange.
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 (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 OFFERING, THE CLOSING OF THE OFFERING, THE ANTICIPATED CLOSING
DATE OF THE OFFERING, THE INTENDED USE OF PROCEEDS FROM THE OFFERING AN D THE
FILING OF THE AMENDED OFFERING DOCUMENT. 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.