Silver North Resources Ltd. (OTCQB: TARSF) increased the maximum gross proceeds of its best‑efforts private placement from C$5 million to C$7 million, a move that expands the company’s working capital for future exploration. The upsized offering, facilitated by Red Cloud Securities Inc., will allow the company to issue up to 5 million units at C$0.40 per unit and up to 8,928,572 flow‑through units at C$0.56 per unit. The flow‑through units are earmarked for charitable purchasers and qualify for Canadian exploration tax credits, providing a tax‑efficient way for investors to support the company’s projects.
Silver North’s decision to upsized the placement reflects strong investor demand, driven in part by recent high‑grade silver and gold results from its flagship Haldane Silver Project in the Keno Hill district. The additional C$2 million in potential proceeds will be used to fund exploration at the Haldane and Veronica properties in Yukon and to cover future capital needs, rather than to finance the 2025 drilling program, which concluded in November 2025.
The financing also follows a December 2025 flow‑through private placement of up to C$2.25 million, underscoring the company’s ongoing need for capital to advance its exploration pipeline. By expanding the flow‑through component, Silver North can attract investors seeking tax advantages while maintaining a flexible capital structure.
The upsized private placement is a material development for Silver North, as it directly enhances liquidity and supports the company’s exploration strategy in a highly prospective mining district. The additional capital will allow the company to accelerate drilling and resource definition at Haldane and Veronica, positioning it to potentially bring a new silver‑gold resource to market in the coming years.
The move also signals management’s confidence in the company’s exploration prospects and the market’s willingness to back junior mining projects with tax‑advantaged financing. By securing a larger pool of working capital, Silver North is better positioned to respond to new exploration opportunities and to sustain its growth trajectory in the competitive Yukon mining sector.
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