Silver North raising $5.0 million for Yukon exploration
Silver North Resources Ltd. [SNAG-TSXV, TARSF-OTCQB] has announced details of a brokered LIFE private placement financing that is expected to raise gross proceeds of $5.0 mlllion. The company said it intends to use the proceeds for exploration and related programs at its Haldane and (GDR) Veronica properties in the Canadian Yukon as well as for working capital and general corporate purposes.
The private placement will consist of five million units priced at 40 cents each, and up to 5.36 million flow-through units to be sold to charitable purchasers for 56 cents per charity flow-through unit.
Each unit will consist of one common share and one-half of one common share purchase warrant. Each charity flow-through unit will consist of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one warrant. Each whole warrant will entitle the holder to purchase one common share at a price of 56 cents at any time after the 60th day following the closing date to the date that is on or before that date which is 36 months after the closing date. Closing is set to occur by February 5, 2026.
The underwriter has been granted the option to sell up to an additional $1.0 million in any combination of units and charity flow-through units at their respective offering prices. That option can be exercised in full or in part up to 48 hours prior to closing of the marketed offering.
The gross proceeds from the sale of the flow-through shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the Income Tax Act (Canada), related to the company’s Haldane and GDR projects on or before December 31, 2027.
Silver North shares were active on the news, easing 15.7% or $0.075 to 40 cents. The shares trade in a 52-week range of 57 cents and $0.08.
Silver North’s primary assets are its 100%-owned Haldane Silver project (located next to Hecla Mining Inc.’s Keno Hill mine project), the Tim Silver Project (under option to Coeur Mining Inc., in the Silvertip/Midway District, B.C. and Yukon), and the GDR project, which is also located in the Silvertip/Midway District.
In a press release on January 12, 2026, Silver North said it had received results from the final two holes from the 2025 exploration program at the Haldane property. It said results include 2.80 metres averaging 1,069 g/t silver, 1.41 g/t gold, 12.60% lead and 3.01% zinc within a larger 9.10-metre intersection of 428 g/t silver, 0.73 g/t gold, 5.26% lead and 1.73% zinc from 182.40 metres down hole.
The company said eight holes (totalling 1,759.5 metres) were completed in the 2025 program, seven of which successfully tested the main fault, intersecting silver-bearing siderite-sulphide vein and vein breccia mineralization.