Silver Explorer Raises CA$2.1M for Yukon Drilling

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2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Silver North Resources
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* Disclosure for the quote from the Clive Maund article published on April 25, 2025

1. For the quoted article (published on April 25, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,500.
2. Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989.  The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed

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The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be  only be construed as a recommendation or solicitation to buy and sell securities.

Silver North Resources Ltd. (SNAG:TSX.V; TARSF: OTCQB) has announced a non-brokered private placement offering of charity flow-through units (CFT Units) for gross proceeds of up to CA$2.1 million. Each CFT Unit will be priced at CA$0.21 and will include one flow-through common share and one-half of a common share purchase warrant. Each whole warrant will allow the holder to purchase one common share at CA$0.35, exercisable for 48 months following the issue date.

Proceeds from the offering will be used to fund exploration at the company's Haldane and GDR projects in Yukon Territory. Under Canadian tax law, the common shares issued will qualify as "flow-through shares" under subsection 66(15) of the Income Tax Act, which enables investors to deduct qualifying exploration expenses from their taxable income.

The company has committed to using the full gross proceeds to incur eligible "flow-through mining expenditures" by the end of 2026, and to renounce those expenditures to subscribers effective December 31, 2025. In the event of any shortfall in qualifying expenditures, the company has agreed to indemnify investors for any resulting tax liabilities.

Silver North may pay finder's fees in cash and warrants, subject to TSX Venture Exchange approval. The offering is being conducted under the Listed Issuer Financing Exemption outlined in National Instrument 45-106, meaning securities issued to Canadian residents will not be subject to a hold period.

An offering document is available at www.sedarplus.ca and the company's website. Securities under this offering have not been registered under the U.S. Securities Act and are not available to U.S. investors except under applicable exemptions.

Silver Sector Shows Strength as Investors Rotate Out of Gold

According to a June 23 update from Kitco News, silver investment saw strong inflows as the market responded to shifting interest rate expectations and a cooling safe haven bid for gold. Analysts at Heraeus noted that "silver has taken the lead" in recent investor sentiment, highlighting that silver ETF holdings grew by 18.2 million ounces to 759 million ounces in the first two weeks of June alone.

Total year-to-date inflows reached nearly 41 million ounces, reflecting proportionally higher growth than gold over the same period. Although industrial demand was expected to dip slightly to 677 million ounces in 2025, the firm emphasized that this remains 19% above the 10-year average. They reported that silver had recently posted a temporary high above US$37 per ounce, settling at US$36.199 per ounce by the time of publication.

On the same day, Stewart Thomson described silver as "an exciting performance haven," underscoring its resilience even during sharp gold pullbacks. He wrote that many junior silver mining stocks remained in "generational value buy zones" and expressed a focus on companies with solid fundamentals emerging from large technical base patterns. Thomson viewed the current rally in silver equities as steadier and less speculative than prior cycles, adding that "these miners look set to outperform everything" during the broader resource bull cycle.

A June 24 technical analysis from FX Empire added further context to silver's price behavior, citing continued support above the US$35.50 level. Analyst Christopher Lewis stated that "this is a market that… looks bullish more than anything else," noting that silver demonstrated resilience despite geopolitical developments and broader market volatility. He also observed that silver benefited from a weakening US dollar, calling the current movement a "risk-on move." Lewis concluded that even in the event of a short-term decline, value-focused investors would likely reenter the market near the 50-day moving average.

Fueling Yukon Exploration with New Capital

According to the company's latest investor materials, funds raised will support targeted exploration at two key Yukon projects. At the Veronica claim block of the GDR Project, located adjacent to Silver North's Tim Property, the company will launch a prospecting, sampling, and mapping program.

This area is centered on a previously identified but unexplained 450 x 450 meter multi-element soil anomaly, which includes silver, lead, and zinc values indicative of potential Carbonate Replacement Deposit (CRD) mineralization.

Mills stated, "They're experiencing significant market activity with strong volume, rising prices, and sufficient capital to drill a pure silver project in one of the world's premier mining regions." 

In parallel, Silver North is planning a 10-hole, 2,500-meter diamond drill program at its Haldane Project, located in the historic Keno Hill Silver District.

The drilling will follow up on 2024's high-grade discovery within the Main Fault target, which yielded 1.83 meters grading 1,088 grams per tonne silver, 3.90 g/t gold, 1.89% lead, and 0.63% zinc.

The new drill campaign aims to extend mineralization both along strike and at depth, further advancing the project's resource potential.

Silver North's portfolio is focused on silver-dominant assets in proven jurisdictions, with active projects at Haldane, Tim, and GDR.

Surrounded by major producers and supported by strong historical production grades in the region, the company is advancing its exploration strategy with new funding and a clear technical roadmap.

Analyst Highlights Technical Strength and Upside Potential for Silver North

*In an April 25 report, Technical Analyst Clive Maund identified Silver North Resources Ltd. as being well-positioned for a significant technical breakout, supported by positive drilling results and rising silver prices. Maund rated the company a "Strong Buy for all time horizons," citing its status as "a leading primary silver explorer in Canada" and its leverage to bullish silver market conditions.

Maund pointed to the company's November 2024 drill program at the Haldane project in Yukon, which intersected 1.83 meters grading 1,088 grams per tonne (g/t) silver. He noted that this discovery coincided with a 21.5% increase in the silver price, from US$23.65 to US$28.90 per ounce, reinforcing the company's positioning within a strengthening sector. From a technical standpoint, he observed that the company's stock was "starting to break out from a large base pattern," supported by increased volume and a rising Accumulation line — both indicators of a potential trend reversal.

Discussing the Tim property, Maund reported that drill core had confirmed the presence of a Carbonate Replacement Deposit (CRD) system, a high-grade mineralization style also seen in the Silvertip district. He highlighted confidence in the asset's potential based on the fact that exploration funding has been supported by a partner under the terms of an option agreement. He also described the adjacent Veronica claims as hosting "an untested 450 x 450 meter silver-lead-zinc soil geochemical anomaly," calling it a promising target for further CRD-focused exploration.

Maund also reviewed the company's ownership and capital structure. According to data from Refinitiv dated May 28, the company had 61.2 million shares outstanding, with 22.89% held by strategic investors and 16.14% held by management and the board. He viewed the limited float as a strength, noting the potential for strong price movement as demand increases. Maund projected an initial price target between CA$0.25 and CA$0.27 and identified a longer-term target near CA$1.00. He wrote that "even if it only got a half or a third of the way back to past highs, we are talking about huge percentage gains from the current price."

Michael Ballanger of GGM Advisory Inc. featured Silver North Resources in an April 28 commentary, positioning it as a strong candidate among junior silver explorers. Ballanger wrote that "Silver North has climbed from CA$0.10 to CA$0.165 — always favorable," pointing to increasing trading volume and rising share price as signs of momentum. He emphasized the company's asset quality, noting its flagship Haldane Project lies in the prolific Keno Hill silver district and shares similar geological characteristics with nearby producing mines. Ballanger also highlighted the project's exploration upside, stating that only a fraction of the prospective 12 kilometers of cumulative structure has been tested to date.

He reported that Silver North had recently completed a CA$1.35 million financing at CA$0.10 per share to support exploration at Haldane and Tim. Ballanger referenced recent drilling results from Haldane's West Fault zone, where Silver North intersected 3.14 meters of 1,351 g/t silver, 0.08 g/t gold, 2.43% lead, and 2.91% zinc in hole HLD21-24. He added that Silver North's geological team had identified multiple additional silver-bearing targets, and an airborne magnetics and EM survey was planned to refine structural understanding and guide future drilling.

At the Tim property, Ballanger highlighted that Coeur Mining Inc. is funding exploration under an option agreement, with the potential to earn up to 80% by completing a feasibility study. He noted that core from Coeur's 2024 drill campaign at Tim displayed encouraging CRD-style mineralization, with assay results pending.

Rick Mills of Ahead of the Herd also discussed Silver North in a May 19 interview with Bob Moriarty of 321Gold, referencing its recent trading activity and favorable project locations.

Mills stated, "They're experiencing significant market activity with strong volume, rising prices, and sufficient capital to drill a pure silver project in one of the world's premier mining regions." He emphasized the appeal of pure silver companies in a market environment where the gold-to-silver ratio was trending near 101.6. Moriarty echoed this sentiment, recognizing Silver North's recent share price performance and describing it as a company positioned to benefit from broader sector momentum.

Ownership and Share Structure

According to Refinitiv, eight strategic entities own 22.89% of Silver North Resources. The Top 3 shareholders are Pacific Opportunity Capital Ltd. with 7.88%, Fruchtexpress Grabher Gesellschaft mbH & Co. with 6.71%. The board and management hold 16.14%, according to Silver North, including Executive Chair Mark T. Brown who owns 5.5%.

The rest is in retail. Currently, there are no other institutional investors, yet.

Refinitiv reports Silver North having 61.2 million (61.2M) outstanding shares and 46.79M free float traded shares. The explorer has a market cap of CA$8 million and a 52-week range of CA$0.065–0.24 per share.