Silver North Announces Closing of $2.25 Million Flow Through Share Private Placement

Core Viewpoint - Silver North Resources Ltd. has successfully closed a non-brokered private placement, raising gross proceeds of $2,250,500 through the sale of 6.43 million flow-through shares at a price of $0.35 per share, which will fund exploration activities at its Haldane and Veronica properties in 2026 [1][2]. Group 1: Financing Details - The private placement raised a total of $2,250,500 from the sale of 6.43 million flow-through shares priced at $0.35 each [1]. - The company will utilize the proceeds to incur eligible Canadian exploration expenses related to its Yukon projects, with a commitment to renounce these expenditures to the subscribers by December 31, 2025 [2]. - Finders' fees for the offering amounted to $144,931 and included 414,090 non-transferable warrants, valid for 24 months at the offering price [3]. Group 2: Future Plans - The financing will enable the company to commence its 2026 drilling program at the Haldane Property and conduct follow-up work at the Veronica silver property [2]. - The company plans to start drilling as early as spring 2026, maximizing the field season based on the interpretation of 2025 data [2]. - Detailed plans for the 2026 exploration program will be announced after the analysis of the 2025 results [2]. Group 3: Related Party Transactions - A director of the company purchased 43,428 flow-through shares in the private placement, which is classified as a related party transaction [4]. - The company has relied on exemptions from formal valuation and minority shareholder approval requirements due to the transaction's value not exceeding 25% of the company's market capitalization [4]. Group 4: Company Overview - Silver North Resources Ltd. owns the Haldane Silver Project, Tim Silver Project, and GDR project, and is actively seeking to acquire additional silver properties in favorable jurisdictions [7]. - The company is listed on the TSX Venture Exchange under the symbol "SNAG" and trades on the OTCQB market in the U.S. under the symbol "TARSF" [8].