News Summary
The most recent news release, dated December 16, 2025, announced an increase and full subscription of a previously announced non-brokered flow-through share private placement. The financing, initially targeting $2.1 million, was upsized to $2,250,500. This was achieved by issuing 6,430,000 flow-through common shares at a price of $0.35 per share. The proceeds are earmarked for eligible Canadian exploration expenses on the Company’s Yukon projects (Haldane Silver Project, Tim Silver Project, GDR Project) on or before December 31, 2026. This news follows the initial announcement of the private placement on December 11, 2025.
Material Impact
This news is materially positive for Silver North Resources. The increase in the private placement size, coupled with its full subscription, demonstrates strong investor confidence and secures crucial funding for the Company’s aggressive exploration programs in the Yukon. The issue price of $0.35 per share is significantly higher than the $0.10 and $0.15 prices of earlier 2025 financings, reflecting a positive re-rating of the stock following recent high-grade drill results at Haldane and promising discoveries at Veronica.
The Company has a history of consistently low cash balances and negative working capital throughout 2024 and 2025, necessitating multiple private placements. The $1.35 million financing closed in April 2025 (at $0.10), the $370,050 financing closed in July 2025 (at $0.15), and the $2.1 million flow-through financing closed in August 2025 (at $0.21). This latest $2.25 million financing (at $0.35) further bolsters the treasury, specifically for flow-through eligible exploration expenses, which are essential for advancing its projects. This capital infusion is vital for funding the anticipated aggressive 2026 drill program at Haldane and follow-up exploration at the Veronica property.
The recent exploration news preceding this financing provides strong justification for investor interest:
* December 10, 2025: Drill results from Haldane extended the Main Fault silver mineralization by 50 meters along strike, with the CEO noting grades and widths becoming stronger downdip.
* November 17, 2025: Intersected 13.15 meters averaging 818 g/t Silver and 1.39 g/t Gold at Haldane’s Main Fault, described by the CEO as the “best hole drilled on the property to date.” This was a significant catalyst.
* December 11, 2025 & October 28, 2025: Positive rock sampling at Veronica (GDR Project) yielded up to 2,860 g/t silver and 76.8% lead, confirming Carbonate Replacement Deposit (CRD) potential and indicating new high-grade showings.
The financing at a higher price point, following these strong exploration results, suggests the market is responding positively to the Company’s technical success.
Catalysts
* Haldane 2026 Drill Program: Watch for the announcement of the detailed 2026 drill program at the Haldane Silver Property, particularly plans for aggressive follow-up drilling at the Main Fault target, given the latest positive results and secured funding.
* Veronica (GDR Project) Exploration Plans: Look for news outlining the 2026 exploration plans for the Veronica property, building on the high-grade silver and lead float discoveries and CRD potential. This would include detailed mapping, sampling, and potential drill targeting.
* Tim Project Update from Coeur Mining: Awaiting further updates from Coeur Mining Inc. regarding their interpretation of the 2024 drilling and geophysical data, and plans for follow-up drilling at the Tim Project in 2026. This de-risked exploration is a key component of Silver North’s portfolio.
* Use of Proceeds: Monitor news releases to confirm that the raised funds are deployed efficiently and effectively into the stated exploration activities to generate further positive results.
* Financial Health: While this financing is positive, the Company’s history of recurring capital raises means ongoing monitoring of its cash position and working capital will be crucial.
Materiality Conclusion
The increase and full subscription of the $2.25 million flow-through private placement is a Material – Positive event. It addresses the Company’s ongoing need for exploration capital, validates its recent technical successes with a higher share price for the financing, and provides the necessary funds to advance its flagship projects into 2026. This event signifies improved financial stability and enhances the Company’s ability to execute its strategic exploration objectives.
