2 Drills, 14,000 Meters: Major Yukon Silver Exploration Program Locked In

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1. Disclosure for the quote from the John Newell article published on February 23, 2026

1. For the quoted article (published on February 23, 2026), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$2,000.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB; I90:FSE) announced that it has signed a two year drill contract with Boart Longyear for the fully funded 2026 and 2027 Haldane silver exploration programs. The agreement provides for two diamond drilling rigs to remain on site for the duration of both field seasons, supporting between 10,000 and 14,000 meters of drilling. In addition, the company has signed contracts for airborne geophysical surveys at both its Haldane and Veronica projects.

According to the company, mobilization of the two drills and supporting equipment is expected around the middle of March, with equipment positioned to begin the drilling campaign as soon as weather and exploration conditions allow, expected no later than the first week of June.

Drilling at Haldane will focus on expanding the Main Fault target, where the company stated that all nine holes that reached the target returned significant widths and grades of silver, gold, lead, and zinc vein mineralization. The program will also test additional targets including Bighorn, where a drill discovery made in 2019 has not yet been followed up. At Bighorn, anomalous soil geochemistry and silver-bearing structures were encountered in trenching over a 600-meter strike length surrounding the single drill hole.

Further drill meterage has been allocated to targets refined through airborne geophysical surveys and to associated Johnson, West Fault, and Middlecoff targets.

Silver North has also contracted SkyTEM Canada Inc. to conduct a SkyTEM312 airborne survey over the Haldane project. The survey will include 100-meter spaced flight lines with 1,000-meter spaced tie lines for a total of 944 line kilometers. The program will collect magnetics and time domain electromagnetic data intended to refine underlying geology and assist with detailed drill hole targeting by defining structural architecture at Haldane.

At the Veronica project, the company has signed a contract with Geotech Ltd. to conduct a VTEM airborne survey consisting of 100-meter spaced flight lines and 1,000-meter spaced tie lines totaling 243 line kilometers. The survey will collect magnetics and time domain electromagnetic data to help map property geology that is largely obscured by overburden and provide information about the structural architecture of the project area.

Mineralization discovered at Veronica in 2025 included a float cobble sample at the Lodge Showing that returned 2,860 g/t silver, 0.412 g/t gold, 76.8% lead and 0.18% zinc, and a rock grab sample from an outcropping brecciated and silicified fault zone at the Cooper Showing that returned 33.17 g/t silver, 1.36% lead and 0.4% zinc, according to the company.

Jason Weber, President and CEO, stated in a company news release, "We are extremely pleased to be in a strong financial position and to have the ability to lock in this two-year contract with Boart for drilling at Haldane. This gives us certainty of executing our plan for 5,000 – 7,000 metres of drilling each year for potential expansion of the Main Fault."

Silver Prices and Supply Commentary Reflected Volatile Market Conditions

According to a March 9 report from Kitco News citing Heraeus analysts, silver prices reacted to the outbreak of hostilities in the Middle East but later gave back part of that move. The analysts stated that "the silver price initially rose in response to the start of hostilities in the Middle East, but, like gold, it is also dealing with the after-effects of its rally to record prices, and the rally was used as an opportunity to reduce exposure and take profits as ETF holdings dropped."

They also wrote that "the price has fallen below its corrective price channel, which would suggest that the price is going to decline further in the near term." The same report noted changes in silver supply from a major producer, stating that "silver output was 48.7 Moz in 2025, in line with guidance but down 13.5% from 56.3 Moz in 2024," and added that production for the current year was expected to be between 42.0 Moz and 46.5 Moz. Heraeus also stated that "initial government statistics show that silver production was up by about 3% last year despite Fresnillo's decline in output."

FactSet reported on March 9 that silver prices had moved higher during a second consecutive session despite weakness in equities. The report stated that "silver settled higher for a second session amid earlier weakness in equities," while trading took place alongside a stronger dollar, a light economic data calendar, and no comments from Federal Reserve officials during the blackout period ahead of the March 18 FOMC meeting.

Chen Lin wrote on March 9 that broader market pressure had weighed on silver alongside gold. He stated that "the market is down hard and gold/silver are weakened, likely due to margin calls." He also wrote, "I own a lot of mining stocks, they are down so much lately, even 4000/60 gold/silver, they will make a killing. Plus, most have excellent balance sheets."

Analysts Highlight Haldane Discovery Progress and Exploration Funding

According to a January 17 report from Rick Mills at Ahead of the Herd, Silver North Resources Ltd. completed its 2025 drill program in mid-November at its Haldane Project in the Keno Hill Silver District in Yukon. The report stated that the program successfully tested the Main Fault structure "100 meters along strike and up to 150m down dip." It added that "Main Fault is unique in that it is one of the few targets that has mineralization expressed on surface." The same report noted that hole HLD25-31 returned "3.2 meters averaging 2,014 g/t silver, 1.72 g/t gold, 4.73% lead and 1.1% zinc within a larger 13.15-meter intersection of 818 g/t silver, 1.39 g/t gold, 2.54% lead and 0.98% zinc." The report also stated that "the program successfully tested the Main Fault structure 100 meters along strike and up to 150m down dip."

Bob Moriarty wrote in a February 20 report that Silver North Resources Ltd. "persists in striking dazzling silver intercepts." He reported that the company disclosed drilling results from eight holes, stating that they included "HLD25-31 yielding 13.15 meters of 818 g/t Ag or 896 g/t Silver Eq."

Moriarty also wrote that the company had "amassed CA$13 million, which shall wholly fund the ensuing two years," adding that Silver North planned to "employ two drills this year, with its exploration commencing in May."

¹In a February 23 report, John Newell of John Newell & Associates stated that he viewed Silver North Resources Ltd. as a "Speculative Buy." He also identified technical price levels of CA$0.55, CA$0.70, and CA$1.05 based on his chart analysis. He wrote that the company "has shifted from 'prove it' mode into 'expand it' mode," noting that the company had closed "a major brokered financing that effectively funds the next two years of exploration." Newell also stated that the company was preparing for "its largest drill plan to date at Haldane in the Keno Hill Silver District of Yukon."

2026 Exploration Program Targets Multiple Drill and Geophysical Initiatives

According to its February 2026 corporate presentation, Silver North reported that a highly successful 2025 exploration program at Haldane extended the Main Fault footprint to at least 100 meters of strike length and 300 meters down dip from surface. The presentation states that the 2026 program will focus on building the discovery further down dip and along strike.

The same presentation indicates that the 2026 field season is expected to commence in late Q1 or early Q2 with airborne geophysics designed to refine Main Fault targeting prior to drilling activities. The exploration plan includes operating two drill rigs for approximately four to five months during the field season.

Additional exploration work in 2026 is also expected to focus on other project areas identified in the company's portfolio. The presentation states that continued drilling in 2026 is intended to support further work at the Haldane discovery, confirm a carbonate replacement deposit system at the Tim project, and investigate indications of a similar system at the Veronica property.

The Veronica project has also been identified in the presentation as a high-priority exploration target for 2026. The property is located 12 kilometers north of Coeur Mining's Silvertip Mine and is exploring the same rock units that host mineralization at Silvertip.

The Tim property, which lies approximately 19 kilometers north of the Silvertip Mine, has been optioned to Coeur Mining. Under the option agreement, Coeur may earn an 80% interest in the property by completing US$3.55 million in exploration expenditures over five years, making US$575,000 in cash payments, and completing a feasibility study by the eighth anniversary of the agreement.

Ownership and Share Structure²

Management and strategic Investors own 14.6%, and the rest is retail. 

The company has a market cap of approximately CA$23.19 million and a 52-week share price range of CA$0.08 to CA$0.57 per share. 

Silver North's continued focus on the Main Fault and surrounding targets aligns with its stated objective of advancing high-grade discoveries in established silver districts. The 2025 results underscore the mineral potential of Haldane and reinforce the company's strategy of developing projects alongside major silver producers.