Why Is This the Perfect Silver Trade To Invest In?
Contributed Opinion

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This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.

Subscribers purchased Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB) by way of two private placements in 2025 at prices of CA$0.10 and CA$0.15 per share. This is a junior silver explorer with projects in Canada's Yukon Territories, with one being proximitous to the legendary Keno Hill Silver District where historical mining operations yielded over 200 million ounces of silver.

The two main projects are the Haldane Project, located 25 km. west of the main Keno Hill silver deposits and Tim Project, located 72 km west of Watson Lake, Yukon, and 19 km northeast of Coeur Mining's Silvertip deposit.

Coeur Mining Inc. (CDE:NYSE) is funding exploration under an option agreement to earn a 51% interest in Tim from Silver North by completing $3.55 million in exploration over 5 years and making staged cash payments totalling $575,000. Coeur can increase its interest to 80% by funding a positive feasibility study at Tim by the eighth anniversary of the agreement.

To date, Coeur has funded approximately $1.6 million in exploration, which has included SkyTEM, magnetics, radiometrics, and mobile MT geophysical surveys, property-wide geochemical sampling and mapping, re-examination of historical trenches, and drilling. Coeur is the project operator, applying the expertise of its geological team at Silvertip to the Tim exploration.

In November, the company reported the following from the Haldane Property: Silver North Intersects 13.15 meters Averaging 818 g/t Silver and 1.39 g/t Gold From 249.9 m Depth at the Haldane Silver Property, Keno District, Yukon. Elevated gold values really got my attention, as well as the rest of the market, as the stock moved sharply higher in combination with robust silver prices.

I like almost everything about this name, including a crackerjack management group and a great land package in the vicinity of one of the truly legendary silver camps: Keno Hill.

Of course, I am biased as I was one of those lucky souls who owned shares in the mighty United Keno Hill Silver Mines in the 1970s as it soared from $0.60 to $60 in less than a year. The only possible negative is seasonality, as it is not so much the sub-zero temperatures that force companies to shut down in the Canadian winter, but the lack of sunlight, which creates safety issues.

Nonetheless, as a proxy for the silver trade, it is a perfect place to invest, and at a US$22m market cap, it is worthy of a target price in the US$100m range driven by further exploration and development at Haldane and Tim. No one knows for sure where silver prices will top out, but if the raving bulls are correct, this could be another United Keno Hill. Accordingly, an initial target price of CA$1.00 per share is where I will reassess.