Silver North Closes Previously Announced $2.1 Million 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 25-13
Silver North Closes Previously Announced $2.1 Million Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, BC, August 12, 2025 – Silver North Resources Ltd. (TSX -V: SNAG, OTCQB:
TARSF) “Silver North” or the “Company”) announces that the non-brokered private placement
(the “Offering”) announced June 23, 2025 has now closed.
“With the closing of this offering, Silver North is now able to continue to unlock value at the
Haldane Property in the historic Keno Hill Silver District,” stated Jason Weber, P.Geo., President
and CEO of Silver North. “Our 2025 program at Haldane will co mmence imminently. We look
forward to building on our Main Fault silver discovery from 2024.”
As announced, the Offering for aggregate gross proceeds of up to $2,100,000 from the sale of
charity flow-through units of the Company (the “CFT Units”) was sold at a price of $0.21 per CFT
Unit. Each CFT Unit is comprised of one common share and one-half of one common share
purchase warrant (each whole warrant, a “ Warrant”) of the Company, each of which will qualify
as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada)
(the “Tax Act”). Each Warrant will entitle th e holder thereof to purchase one common share (a
“Warrant Share”) of the Company for a period of 48 months from the issue date of the CFT Units
at an exercise price of $0.35 per Warrant Share , expiring August 12, 2029 . The Warrant Share
will be issued on a non-flow-through basis.
In connection with the Offering, certain purchasers of CFT Units subsequently (i) donated some
or all of such CFT Units to registered charities, who may sell such CFT Units to third-party
investors, and/or (ii) sold some or all of such CFT Units to third-party investors, in each case, at
a price of $0.15 per unit.
The Company intends to use the gross proceeds raised from the sale of CFT Units for exploration
and related programs on the Company’s Haldane and GDR mineral properties in the Yukon
Territory.
The Company will use an amount equal to the gross proceeds 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 both terms are defined in the Tax Act (the
“Qualifying Expenditures ”) related to the Company’s projects in the Yukon, on or before
December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers
of the CFT Units effective on or before December 31, 2025. If the Qualifying Expenditures are
reduced by the Canada Revenue Agency, the Company will 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 paid finders’ fees comprised of $54,420 cash and 362,800 non-transferable
warrants in connection with the Offering, subject to compliance with the policies of the TSX
Venture Exchange (“TSXV”). Each finder’s warrant is exercisable at $0.15 for a period of 2 years
expiring on August 12, 2027. Completion of the Offering and the payment of any finders’ fees
remain subject to the receipt of all necessary regulatory approvals, including the approval of the
TSXV. The CFT Units offered are done so under a charitable donation arrangement structured
by PearTree Securities Inc.
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the CFT Units were offered for sale
to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer
financing exemption under Part 5A of NI 45 -106 (the “ Listed Issuer Financing Exemption ”).
Because the Offering was completed pursuant to the Listed Issuer Financing Exemption, the
securities issuable from the sale of CFT Units to Canadian resident subscribers in the Offering
will not be subject to a hold period pursuant to applicable Canadian securities laws. The finder’s
warrants are subject to a four-month hold from the date of closing.
The offering document related to the Offering can be accessed under the Company’s profile at
www.sedarplus.ca and on the Company’s website at www.silvernorthres.com.
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.
Use of Proceeds
Proceeds from the contemplated financing will be used for exploration of the Company’s Haldane
and GDR projects, both of which are located in Yukon Territory. A prospecting, sampling and
mapping program is slated for the Veronica claim block of the GDR Pro ject, located adjacent to
the Company’s Tim Property (under option to Coeur Mining) in the Silvertip District of southern
Yukon. Exploration will follow up on an unexplained multi -element soil geochemical anomaly
thought to potentially reflect covered CRD-style silver-lead-zinc mineralization.
At Haldane, a 10 hole (2,500 m) diamond drilling program will target expansion of Keno -style
silver lead-zinc mineralization at the newly identified Main Fault target, a wide zone with at least
three high grade silver veins identified to date. Drilling will aim to expand both along strike and to
depth of the two discovery holes completed in 2024, one of which returned 1,088 g/t silver, 3.90
g/t gold, 1.89% lead and 0.63% zinc over 1.83 metres (refer to Silver North’s news release dated
November 14th, 2024). Drilling will commence shortly.
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 and approved the news 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.