Silver North Announces Closing of Brokered LIFE Private Placement for Gross Proceeds of C$11.6 Million

(TheNewswire)

Vancouver, BC, February 10, 2026– TheNewswire - Silver North Resources Ltd. (TSX-V: SNAG)“Silver North” orthe “Company”) is pleasedto announce the closing of its previously announced brokered privateplacement (the “Offering”)for aggregate gross proceeds of C$11,576,985, which includes theexercise in full of the agent’s option. Pursuant to the Offering,the Company sold 4,982,461 units of the Company (the “Units”) at a price of C$0.40 perUnit (the “Unit Price”)and 17,114,286 flow-through units of the Company that were sold tocharitable purchasers (the “CharityFT Units”, and together with the Units, the “Offered Securities”) at a price ofC$0.56 per Charity FT Unit.

Each Unit consists of one common share of the Company and one-half ofone common share purchase warrant (each whole warrant, a “Warrant”). Each Charity FT Unitconsists of one common share of the Company to be issued as a“flow-through share” within the meaning of subsection 66(15) ofthe Income Tax Act (Canada)(each, a “FT Share”) andone-half of one Warrant. Each whole Warrant entitles the holder topurchase one common share of the Company at a price of C$0.56 at anytime after April 10, 2026 to February 10, 2029.

Red Cloud Securities Inc. (“RedCloud”) acted as sole agent and bookrunner in connection withthe Offering. As consideration for their services, Red Cloud receivedaggregate cash fees of C$810,388.92 and 1,546,772 non-transferablecommon share purchase warrants (the “Broker Warrants”). Each Broker Warrant is exercisable toacquire one common share of the Company at the Unit Price at any timeon or before February 10, 2029.

The Company intends to use the gross proceeds from the Offering forexploration and related programs on the Company’s Haldane andVeronica properties in Yukon Territory as well as for working capitaland general corporate purposes, as is more fully described in theAmended Offering Document (as herein defined).

The gross proceeds from the sale of Charity FT Units will be used bythe Company to incur eligible “Canadian exploration expenses” thatqualify as “flow-through mining expenditures” as both terms aredefined in the Income Tax Act(Canada) (the “QualifyingExpenditures”) related to the Company’s Haldane and GDRprojects on or before December 31, 2027. All Qualifying Expenditureswill be renounced in favour of the subscribers of the Charity FT Unitseffective December 31, 2026. If the Qualifying Expenditures arereduced by the Canada Revenue Agency, the Company will indemnify eachCharity FT Unit subscriber for any additional taxes payable by suchsubscriber as a result of the Company’s failure to renounce theQualifying Expenditures as agreed.

In accordance with National Instrument 45-106 - Prospectus Exemptions (“NI 45-106”), 15,696,747 OfferedSecurities (the “LIFESecurities”) were issued to Canadian purchasers pursuant tothe listed issuer financing exemption under Part 5A of NI 45-106, asamended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of theListed Issuer Financing Exemption (the “Listed Issuer FinancingExemption”). The securities issuable from the sale of theLIFE Securities to Canadian purchasers are immediately freelytradeable in accordance with applicable Canadian securitieslegislation. 6,400,000 Charity FT Units were issued pursuant toavailable exemptions from the prospectus requirement under NI 45-106,other than the Listed Issuer Financing Exemption (the “Non-LIFE Exemptions”). Thesecurities issuable from Charity FT Units issued pursuant to theNon-LIFE Exemptions are subject to a hold period in Canada ending onJune 11, 2026.

There is an amended and restated offering document (the “Amended Offering Document”)related to the Offering that can be accessed under the Company’sprofile at www.sedarplus.ca and on the Company’s website atwww.silvernorthres.com.

The closing of the Offering remains subject to the final approval ofthe TSX Venture Exchange.

The securities described herein have not been, and will not be,registered under the United States Securities Act of 1933, as amended(the “U.S. SecuritiesAct”) or any state securities laws, and accordingly, may notbe offered or sold within the United States or the US persons exceptin compliance with the registration requirements of the U.S.Securities Act and applicable state securities requirements orpursuant to exemptions therefrom. This press release does notconstitute an offer to sell or a solicitation to buy any securities inany jurisdiction.

About Silver North Resources Ltd.

Silver North’s primary assets are its 100% owned Haldane SilverProject (next to Hecla Mining Inc.’s Keno Hill Mine project), theTim Silver Project (under option to Coeur Mining, Inc. in theSilvertip/Midway District, BC and Yukon) and the GDR (Veronica)project also in the Silvertip/Midway district. Silver North also plansto acquire additional silver properties in favourable jurisdictions.

The Company is listed on the TSX Venture Exchange under the symbol“SNAG”, trades on the OTCQB market in the United States under thesymbol “TARSF”, and under the symbol “I90” on the FrankfurtStock Exchange.

For further information, contact:

Jason Weber, Presidentand CEO

Sandrine Lam, Shareholder Communications

Tel: (604) 807-7217

Fax: (888) 889-4874

To learn more visit: www.silvernorthres.com Twitter: https://twitter.com/SilverNorthRes

LinkedIn: https://

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELYHISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THECOMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAYINCLUDE FORWARD-LOOKING STATEMENTS. Theforward-looking statements and information in this news releaseinclude, without limitation, statements regarding the intended use ofproceeds from the Offering and the FINAL APPROVAL OF THE OFFERING FROMTHE TSX VENTURE EXCHANGE. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARESUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCEEXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARYMATERIALLY FROM THOSE DESCRIBED IN THE FORWARD- LOOKINGSTATEMENTS.

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