Silver North Resources Ltd. has announced a non-brokered private placement offering of charity flow-through units (CFT Units) for gross proceeds of up

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Silver North Resources Ltd. (SNAG:TSX.V; TARSF: OTCQB) has announced a non-brokered private placement offering of charity flow-through units (CFT Units) for gross proceeds of up to CA$2.1 million. Each CFT Unit will be priced at CA$0.21 and will include one flow-through common share and one-half of a common share purchase warrant. Each whole warrant will allow the holder to purchase one common share at CA$0.35, exercisable for 48 months following the issue date.

Proceeds from the offering will be used to fund exploration at the company’s Haldane and GDR projects in Yukon Territory. Under Canadian tax law, the common shares issued will qualify as “flow-through shares” under subsection 66(15) of the Income Tax Act, which enables investors to deduct qualifying exploration expenses from their taxable income. The company has committed to using the full gross proceeds to incur eligible “flow-through mining expenditures” by the end of 2026, and to renounce those expenditures to subscribers effective December 31, 2025. In the event of any shortfall in qualifying expenditures, the company has agreed to indemnify investors for any resulting tax liabilities.

Silver North may pay finder’s fees in cash and warrants, subject to TSX Venture Exchange approval. The offering is being conducted under the Listed Issuer Financing Exemption outlined in National Instrument 45-106, meaning securities issued to Canadian residents will not be subject to a hold period.

An offering document is available at www.sedarplus.ca and the company’s website. Securities under this offering have not been registered under the U.S. Securities Act and are not available to U.S. investors except under applicable exemptions.

Silver Sector Shows Strength as Investors Rotate Out of Gold

According to a June 23 update from Kitco News, silver investment saw strong inflows as the market responded to shifting interest rate expectations and a cooling safe haven bid for gold. Analysts at Heraeus noted that “silver has taken the lead” in recent investor sentiment, highlighting that silver ETF holdings grew by 18.2 million ounces to 759 million ounces in the first two weeks of June alone. Total year-to-date inflows reached nearly 41 million ounces, reflecting proportionally higher growth than gold over the same period. Although industrial demand was expected to dip slightly to 677 million ounces in 2025, the firm emphasized that this remains 19% above the 10-year average. They reported that silver had recently posted a temporary high above US$37 per ounce, settling at US$36.199 per ounce by the time of publication.

On the same day, Stewart Thomson described silver as “an exciting performance haven,” underscoring its resilience even during sharp gold pullbacks. He wrote that many junior silver mining stocks remained in “generational value buy zones” and expressed a focus on companies with solid fundamentals emerging from large technical base patterns. Thomson viewed the current rally in silver equities as steadier and less speculative than prior cycles, adding that “these miners look set to outperform everything” during the broader resource bull cycle.

A June 24 technical analysis from FX Empire added further context to silver’s price behavior, citing continued support above the US$35.50 level. Analyst Christopher Lewis stated that “this is a market that… looks bullish more than anything else,” noting that silver demonstrated resilience despite geopolitical developments and broader market volatility. He also observed that silver benefitted from a weakening US dollar, calling the current movement a “risk on move.” Lewis concluded that even in the event of a short-term decline, value-focused investors would likely reenter the market near the 50-day moving average.

Fueling Yukon Exploration with New Capital

According to the company’s latest investor materials, funds raised will support targeted exploration at two key Yukon projects. At the Veronica claim block of the GDR Project, located adjacent to Silver North’s Tim Property, the company will launch a prospecting, sampling, and mapping program. This area is centered on a previously identified but unexplained 450 x 450 meter multi-element soil anomaly, which includes silver, lead, and zinc values indicative of potential Carbonate Replacement Deposit (CRD) mineralization.

In parallel, Silver North is planning a 10-hole, 2,500-meter diamond drill program at its Haldane Project, located in the historic Keno Hill Silver District. The drilling will follow up on 2024’s high-grade discovery within the Main Fault target, which yielded 1.83 meters grading 1,088 grams per tonne silver, 3.90 g/t gold, 1.89% lead, and 0.63% zinc. The new drill campaign aims to extend mineralization both along strike and at depth, further advancing the project’s resource potential.

Silver North’s portfolio is focused on silver-dominant assets in proven jurisdictions, with active projects at Haldane, Tim, and GDR. Surrounded by major producers and supported by strong historical production grades in the region, the company is advancing its exploration strategy with new funding and a clear technical roadmap.

Analyst Highlights Technical Strength and Upside Potential for Silver North

In an April 25 report, technical analyst Clive Maund identified Silver North Resources Ltd. (TSX-V: SNAG; OTCQB: TARSF) as being well-positioned for a significant technical breakout, supported by positive drilling results and rising silver prices. Maund rated the company a “Strong Buy for all time horizons,” citing its status as “a leading primary silver explorer in Canada” and its leverage to bullish silver market conditions.

Maund pointed to the company’s November 2024 drill program at the Haldane project in Yukon, which intersected 1.83 meters grading 1,088 grams per tonne (g/t) silver. He noted that this discovery coincided with a 21.5% increase in the silver price, from US$23.65 to US$28.90 per ounce, reinforcing the company’s positioning within a strengthening sector. From a technical standpoint, he observed that the company’s stock was “starting to break out from a large base pattern,” supported by increased volume and a rising Accumulation line—both indicators of a potential trend reversal.

Discussing the Tim property, Maund reported that drill core had confirmed the presence of a Carbonate Replacement Deposit (CRD) system, a high-grade mineralization style also seen in the Silvertip district. He highlighted confidence in the asset’s potential based on the fact that exploration funding has been supported by a partner under the terms of an option agreement. He also described the adjacent Veronica claims as hosting “an untested 450 x 450 meter silver-lead-zinc soil geochemical anomaly,” calling it a promising target for further CRD-focused exploration.

Maund also reviewed the company’s ownership and capital structure. According to data from Refinitiv dated May 28, the company had 61.2 million shares outstanding, with 22.89% held by strategic investors and 16.14% held by management and the board. He viewed the limited float as a strength, noting the potential for strong price movement as demand increases. Maund projected an initial price target between CA$0.25 and CA$0.27 and identified a longer-term target near CA$1.00. He wrote that “even if it only got a half or a third of the way back to past highs, we are talking about huge percentage gains from the current price.”

Ownership and Share Structure

According to Refinitiv, eight strategic entities own 22.89% of Silver North Resources. The Top 3 shareholders are Pacific Opportunity Capital Ltd. with 7.88%, Fruchtexpress Grabher Gesellschaft mbH & Co. with 6.71%. The board and management hold 16.14%, according to Silver North, including Executive Chair Mark T. Brown who owns 5.5%.

The rest is in retail. Currently, there are no other institutional investors, yet.

Refinitiv reports Silver North having 61.2 million (61.2M) outstanding shares and 46.79M free float traded shares. The explorer has a market cap of CA$8 million and a 52-week range of CA$0.065–0.24 per share.