Analyst Says Silver Co.'s Drill Results Are Positive
Research Report

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Disclosures for Red Cloud Securities, Silver North Resources Ltd., November 15, 2024

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Red Cloud Securities analyst Timothy Lee, in a research report published on November 15, 2024, provided his initial analysis of Silver North Resources Ltd. (SNAG:TSX; TARSF: OTCQB) following the company's announcement of drill results from its Haldane silver project in the Yukon.

Lee viewed these results positively, stating, "In our opinion, these are positive results. The overall width of the fault system encountered in each hole bodes well for the size potential of the Main Fault."

He added that "these new results demonstrate that the Main Fault may have greater size potential and could be the primary focus for drilling going forward."

The analyst highlighted significant drill results from the Main Fault target, including "1,491 grams per tonne silver equivalent (g/t AgEq) (incl. 1,088 g/t silver (Ag), 3.9 g/t gold (Au), 1.89% lead (Pb), 0.63% zinc (Zn)) over 1.83m, and 174 g/t AgEq over 28.36m, including 491 g/t AgEq over 5.81m" from Hole HLD24-30.

Regarding the continuity of mineralization, Lee noted that "Two holes at the Main Fault are ~50m apart, and multiple mineralized intersections at both holes demonstrates the continuity of mineralization in this area."

The report emphasized the strategic location of the project, noting that "Haldane is located 25km west of Keno City, adjacent to Hecla's producing Keno Hill mine."

Red Cloud Securities has not assigned a rating or target price to Silver North Resources at this time. The company's share price at the time of the report was CA$0.10, with a market capitalization of CA$4.5M.