Mr. Jason Weber reports

SILVER NORTH ANNOUNCES BROKERED LIFE PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO C$5.0 MILLION

Silver North Resources Ltd. has entered into an agreement with Red Cloud Securities Inc. to act as sole agent and bookrunner in connection with a best-efforts private placement for aggregate gross proceeds of up to $5-million from the sale of: (i) up to five million units of the company at a price of 40 cents per unit; and (ii) up to 5,357,143 flow-through units of the company to be sold to charitable purchasers at a price of 56 cents per charity flow-through unit.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each charity flow-through unit will consist of one common share of the company to be issued as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one warrant. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of 56 cents at any time after the 60th day following the closing date (as herein defined) to the date that is on or before that date which is 36 months after the closing date.

The company has also granted Red Cloud an option, exercisable in full or in part up to 48 hours prior to the closing of the marketed offering, to sell up to an additional $1-million in any combination of units and charity flow-through units at their respective offering prices. The marketed offering and the securities issuable upon exercise of the agent's option shall be collectively referred to as the offering.

The company intends to use the gross proceeds from the offering for exploration and related programs on the company's Haldane and Veronica properties in Yukon as well as for working capital and general corporate purposes, as is more fully described in the offering document (as herein defined).

The gross proceeds from the sale of flow-through shares will be used by the company 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 Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the charity flow-through units effective Dec. 31, 2026. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each charity flow-through unit subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the offered securities under the offering will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable from the sale of the offered securities are expected to be immediately freely tradable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The units will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the U.S. Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

There is an offering document related to the offering that can be accessed under the company's SEDAR+ profile and on the company's website. Prospective investors should read this offering document before making an investment decision.

The offering is expected to close on or about Feb. 5, 2026, or such other date as the company and Red Cloud may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About Silver North Resources Ltd.

Silver North's primary assets are its 100-per-cent-owned Haldane silver project (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 in British Columbia and Yukon) and the GDR (Veronica) project, also in the Silvertip/Midway district. Silver North also plans to 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 the symbol TARSF and under the symbol I90 on the Frankfurt Stock Exchange.

We seek Safe Harbor.