Silver North Resources Ltd. (OTCQB: TARSF) has increased the maximum gross proceeds of its best‑efforts private placement from C$7 million to C$10.584 million. The offering, facilitated by Red Cloud Securities Inc., will allow the company to issue up to 5 million units at C$0.40 each and up to 15 328 572 flow‑through units at C$0.56 each, providing a total of C$10.584 million in working capital.
The flow‑through units are earmarked for Canadian exploration expenses on the Haldane and GDR projects, while the ordinary units will support general working capital and the company’s broader exploration agenda. The new capital will fully fund two full years of exploration and operating costs, giving Silver North a clear runway to execute its drilling plans in the Yukon’s Keno Hill and Silvertip‑Midway districts.
Executive Chair Mark T. Brown highlighted that the upsizing reflects “strong investor demand” and that the new investors bring strategic value. He added that the additional funds will enable larger drill programs at the Haldane silver project, improving cost per meter and accelerating the identification of high‑grade veins.
The upsized placement underscores Silver North’s position in the historically productive Keno Hill silver district. By securing a robust cash position, the company can pursue aggressive exploration without immediate financing constraints, positioning it to capitalize on any discoveries that may arise from its recent drilling successes.
With the private placement expected to close around February 10, 2026, Silver North will deploy the proceeds to advance its drilling schedule, support operational expenses, and maintain liquidity for future exploration opportunities. The move signals confidence from investors and management in the company’s silver‑focused strategy and its potential to deliver value to shareholders over the next two years.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.