Silver North Completes Airborne Geophysical Survey at Haldane, YT; Retains Full Ownership of Tim Property

Silver North Resources (TSXV:SNAG, OTCQB:TARSF) has completed the SkyTEM312 airborne geophysical survey it
started three weeks ago at Haldane, its flagship silver project
located in the Yukon territory’s historical Keno Silver
District.

The survey consisted of 100-meter spaced flight lines with
1,000-meter spaced tie lines for a total of 944 line-kilometers of
survey, collecting both magnetics and time domain electromagnetic
data.

The purpose of the survey was to aid detailed drill hole targeting
by refining the underlying geology, as well as helping define
Haldane’s complex structural architecture, the company stated on April 9.

“We eagerly anticipate the receipt of the final data from this
survey so we can incorporate it into our 2026 program
planning,” said President and CEO Jason Weber in the April
29 news release. “With much of the drillhole location planning well
underway, we anticipate that the data collected will aid in
prioritizing the order in which we carry out this year’s
program as well as revealing new target areas for follow-up
work.”

The road-accessible, 8,579-hectare Haldane property is 25 km west of
Keno City, YT, adjacent to Hecla Mining’s producing Keno Hill
silver mine. Haldane hosts several occurrences of
silver-lead-zinc-bearing quartz siderite veins resembling the veins
being mined at Keno Hill.

SNAG completed its 2025
drill program in mid-November at Haldane.

Highlighted
results included 3.2 meters averaging 2,014 g/t silver, 1.72
g/t gold, 4.73% lead and 1.1% zinc in hole HLD25-31, within a larger
13.15-meter intersection of 818 g/t silver, 1.39 g/t gold, 2.54%
lead and 0.98% zinc from 249.9 meters down hole. HLD25-31 was
the best hole drilled in the property’s history.

Another sub-interval starting at 256.1m averaged 1,112 g/t
silver, 4.61 g/t gold, 7.11% lead and 1.51% zinc over 1.25m.

On Dec. 10 an additional two holes were released. With five holes reported, the Main Fault has been extended to 100
meters on strike and 150m down dip in drilling and 300m down dip
from surface.

Silver North’s geological theory was proven on its first hole,
with consistent high-grade silver combined with significantly higher
gold concentrations than seen anywhere else on the
property. 

The high silver grades indicate that
Haldane is a pure silver play — a rarity in silver
exploration, with most silver found as a byproduct of lead-zinc or
gold. For example, hole HLD25-31 contained 81% silver, 12% gold, 5%
lead and 2% zinc (by value). 

CEO Jason Weber
recently told me two drill rigs will be going all summer for a
5-7,000-meter drill program focused on the Main Fault. The company
is cashed up with CAD$11.6 million in gross proceeds from a brokered LIFE private
placement.

Under the Spotlight – Jason Weber CEO, Silver North

Silver North’s drill results set the table for bigger 2026
drill program — Richard Mills

Tim property

Silver North has been working with partner Coeur Mining (NYSE:CDE)
to develop the Tim property, located on the Yukon side of the
Yukon-British Columbia border.

Tim consists of 72 mineral claims located 72 km west of Watson Lake,
Yukon and 19 km northeast of Coeur’s Silvertip deposit. The
property is accessible by road via a spur off the Silvertip mine
access road, which connects to the Alaska Highway.

At Tim, Silver North had an option agreement with Coeur by
which Coeur could earn 80% ownership in the project by spending $3.5
million on exploration over five years, making $575,000 cash
payments and completing a feasibility study within eight years.

In 2024, Coeur completed a six hole, 2,250-meter drill program at
Tim. Coeur’s geological observations in drilling, including
several key characteristics of CRD deposits, were noted in drill
core, indicating that Tim may be host to a productive CRD system
similar to that at Silvertip.

However, Silver North has just received written notice that Coeur
intends to terminate the Tim property option agreement as of May 24,
2026 — reflecting Coeur’s renewed focus on its Silvertip
mine.

“On behalf of Silver North, I would like to thank Coeur and
the Coeur Silvertip team for the high quality of work that was
conducted at Tim, and we wish them the best in their progress at
Silvertip,” Weber said in the April 29 news release. “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. We believe that with the upcoming airborne
geophysical survey at our adjacent Veronica Property, we can
amalgamate our exploration approach for the two properties.”

Coeur completed 2,250 meters of drilling in six holes in 2024,
largely testing the Wolf Fault along approximately 1,000 meters of
strike length within prospective stratigraphy. Drilling targeted
structurally hosted “chimney-style” mineralization
potentially hosted within the Wolf Fault and splays of it, as well
as stratigraphically controlled “manto” mineralization
along conductive stratigraphic horizons.

Management believes that the Tim property and the company’s
adjacent Veronica property are highly prospective for Carbonate
Replacement Deposit (CRD)-style mineralization.

CRD

Veronica property

In May 2024, Silver North announced an option agreement with the
three prospectors who own the GDR Project.

Under the terms, Silver North will make a series of cash payments
totaling $102,000 over four years, and staged share payments
totaling 1,560,000 shares over four years, to earn a 100% interest
in the project. The deal is subject to a net smelter return (NSR)
royalty of 2.4% — 0.9% of which can be purchased for $2
million.

One of the GDR properties, Veronica, has a multi-element soil
anomaly defined over a 450 by 450m area that is open to the east,
with values ranging from 0.3-31.1 parts per million (ppm) silver,
60-3,100 ppm lead, and 50-612 ppm zinc. This new anomaly has not
been trenched, drilled or explained by prospecting, and presents a
compelling target for exploration follow-up. Limestone and quartzite
outcrop in the area.

Coeur’s 2024 program successfully confirmed the presence of a
CRD style system at Tim and permissive host rocks such as the
Rosella Formation Limestones, which in the vicinity of the Wolf
Fault, are overlain by phyllite and argillite of the Kechika group,
providing a promising environment for deposit formation. Trenching
at the Wolf Fault yielded high grade silver mineralization including
468.1 g/t silver and 21.1% lead over 4.0 meters.

The presence of a CRD system is evidenced by diagnostic features
noted at Silvertip and elsewhere in the world including fugitive
calcite veining that fluoresces in UV light (displaying the classic
“barbeque” pink and orange fluorescence),
re-crystallization of the host limestones, disseminated pyrite
— sphalerite and galena sulfide and derived oxide
mineralization, and massive pyrrhotite with scheelite mineralization
— an important tungsten-bearing mineral.

The best drill intercept from the 2024 program returned 3.39m of 52.8 g/t silver, 0.28 g/t gold, 0.11% lead
and 0.27% zinc within the Wolf Fault, or a significant splay of it.

A 2025 program at Veronica identified silver mineralization in float (2,860 g/t silver) and in outcrop that resembles CRD-style
mineralization.

Management’s next steps are to incorporate the data from
Coeur’s work and data from Silver North’s programs,
including an upcoming airborne survey at Veronica, to derive vectors
to target drilling based on the combined datasets.

Conclusion

SNAG is cashed up from a CAD$11.6 million private placement.

2026 catalysts include up to 7,000 meters of drilling at Haldane,
focused on the Main Fault; the receipt of data from the 944
line-kilometer geophysical survey at Haldane; and the upcoming
airborne survey at Veronica.

The fact that Tim and Veronica both display characteristics of CRD
systems is consequential.

CRDs are large orebodies that extend over long distances, and they
typically have mine lives lasting for decades, containing
significant amounts of metals, including copper, gold, silver, lead,
manganese and zinc. They are especially important for mining
because of their large scale and high grades, containing between 10
and 150 million tons of economically mineable minerals. Moreover,
they can be closely related and proximal to large porphyry systems.

Silver North Resources
TSXV:SNAG,
OTCQB:TARSF
Cdn$0.28 2026.04.30
Shares Outstanding
105.9m
Market Cap Cdn$29.6m
SNAG website

Richard (Rick) Mills
aheadoftheherd.com