944 Line-Km Survey Completed as Full Control Returns to Yukon Silver Asset

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1. Disclosure for the quote from the John Newell article published on February 23, 2026

1. For the quoted article (published on February 23, 2026), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$2,000.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

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2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB; I90:FSE) reported that a SkyTEM312 airborne geophysical survey has been completed at its Haldane Silver Project in the Keno Hill Silver District, Yukon. The company engaged SkyTEM Canada Inc. to carry out the survey, which included 100 meter spaced flight lines and 1,000 meter spaced tie lines, totaling 944 line-kilometers. The program collected both magnetic and time domain electromagnetic data.

Jason Weber, President and CEO, stated, "We eagerly anticipate the receipt of the final data from this survey so we can incorporate it into our 2026 program planning." He added that the data is expected to support drillhole location planning and help prioritize the sequence of the company's exploration activities, as well as identify additional target areas for follow-up work.

Separately, the company confirmed it received written notice from Coeur Mining Inc. (CDE:NYSE) indicating its intention to terminate the Tim Property Option Agreement effective May 24, 2026. According to the company, the termination reflects Coeur's focus on the Silvertip Mine. As a result, Silver North will retain full interest in the Tim Property.

Weber further said in the news announcement, "Coeur's work led to the identification that a CRD mineralizing system had been active at Tim, and we feel that there remains excellent potential to find economic concentrations of mineralization." He also noted that upcoming work at the adjacent Veronica Property may allow the company to combine datasets across both properties to guide future drilling.

Coeur previously completed 2,250 meters of drilling across six holes in 2024 at the Tim Property, targeting the Wolf Fault over approximately 1,000 meters of strike length. The drilling program focused on structurally hosted chimney-style mineralization as well as stratigraphically controlled manto mineralization. Results from that program included an intercept of 3.39 meters grading 52.8 grams per tonne silver, along with associated gold, lead, and zinc mineralization.

Additional surface work at the Wolf Fault returned trenching results of 468.1 grams per tonne silver and 21.1% lead over 4.0 meters. The company stated that geological indicators observed at Tim are consistent with Carbonate Replacement Deposit systems, including veining, sulphide mineralization, and associated alteration features. Management indicated that future work will integrate historical and recent datasets, including geophysical data, to refine drill targeting.

Supply Constraints and Demand Trends Shape Silver Market

According to an April 27 report from GoldFix, the silver market had entered "a period of sustained tightness, as supply struggles to keep pace with shifting demand and declining inventories." The report cited data from The Silver Institute, noting that the market had moved into "a multi-year deficit," with "six consecutive annual deficits" recorded. It added that "shortages [were] continuing to draw down above-ground inventories," while supply growth from mining and recycling had "not been enough to close the gap." The report also stated that "much of the world's silver is produced as a byproduct of other metals, limiting how quickly output can respond to higher prices."

GoldFix further wrote that demand dynamics had shifted, with "a sharp increase in investment demand" for coins, bars, and exchange-traded products offsetting softness in some industrial sectors. It concluded that "this combination of constrained supply and resilient investment demand is tightening the market further," with declining inventories increasing sensitivity to market changes.

In an April 27 article, Bevis Yeo cited commentary from industry participants describing similar conditions. Lachlan Wallace stated that "silver demand remains strong despite recent price pullback" and added that "the underlying set-up remains unchanged." He said the market reflected "rising demand with inelastic supply," noting that "around 75% of silver comes as a by-product, so higher prices don't immediately bring on new supply." Wallace also described silver as having "a second engine," explaining that "its industrial demand, especially in solar, EVs and electronics, is no longer marginal – it's central," and added that silver had "effectively become a hybrid metal that participates in gold-driven rallies, but has an additional layer of demand that can tighten the market independently."

According to an April 29 report from Peter Krauth, the supply-demand balance remained a key factor, with the market showing continued deficits. He wrote that "2026 is forecast to be deeper than 2025," and added that "demand is simply too robust and continues to outpace supply." Krauth also noted that "when ETP silver holdings are accounted for…2025 suffered the largest silver deficit ever at -318.4Moz," while stating that "holdings have more than doubled in the last decade."

 Funding and Exploration Scale

¹According to a February 23 report from John Newell of John Newell & Associates, he stated that Silver North Resources Ltd. "has shifted from 'prove it' mode into 'expand it' mode." He also wrote that the company "just closed a major brokered financing that effectively funds the next two years of exploration," and noted it was "heading into 2026 with its largest drill plan to date at Haldane in the Keno Hill Silver District of Yukon."

In the same February 23 analysis, Newell described the company's project progress, stating that "the Main Fault is showing the scale and complexity needed to host high-grade mineralization, and they are still early in revealing its potential." He added that he "continue[s] to view Silver North as a Speculative Buy" indicating his stated recommendation in the report. Newell outlined several technical levels based on his chart work, stating that the shares had “achieved targets in sequence,” including CA$0.32 and CA$0.43, and had also “tagged the CA$0.55 area.” He added that “the next obvious magnets remain CA$0.55, then the CA$0.70 interim level, and finally the big picture target at CA$1.05,” describing these levels within the context of the chart's broader trend structure.

2026 Exploration Program and Target Development

According to the company's investor presentation, Silver North outlined a 2026 exploration program focused on expanding mineralization at the Haldane project and advancing target definition across its portfolio. The company stated that its 2025 exploration work extended the Main Fault footprint to at least 100 meters along strike and 300 meters down dip from surface.

For 2026, the program is expected to focus on building on this extension by targeting further down dip and along strike continuity. The company indicated that field activities are planned to begin in late Q1 or early Q2, with airborne geophysics forming part of the program to refine targeting at the Main Fault.

The company also outlined plans to conduct two drill campaigns, each expected to run for approximately four to five months. These drilling programs are intended to test priority targets identified through previous drilling and geophysical work.

At the Veronica Property, which is adjacent to the Tim Property, the company reported that exploration is ongoing to confirm the presence of a CRD system. The presentation noted that Veronica is considered a high-priority exploration target for 2026, with work aimed at validating mineralization identified through prior surface sampling and geological interpretation.

Additionally, the company highlighted exploration at the Betty target area, where a 2025 program expanded the size of the anomaly to more than 1 kilometer by 1 kilometer. Prospecting work identified silver-lead mineralization in both float and outcrop, with further work planned to evaluate the extent of the anomaly and associated mineralization.

Across its projects, Silver North indicated that exploration efforts will incorporate geophysical data, drilling results, and surface sampling to guide target prioritization and drill planning for the 2026 field season.

Ownership and Share Structure²

Management and strategic Investors own 14.6%, and the rest is retail.

The company has a market cap of approximately CA$23.19 million and a 52-week share price range of CA$0.08 to CA$0.57 per share.