Announcement • Jun 16
Silver North Resources Commences Diamond Drilling At Haldane Silver Project In Keno Hill Silver District Silver North Resources Ltd. announced that drilling has commenced at its 100%-owned Haldane Silver Project in the historic Keno Hill Silver District, Yukon. Two diamond drill rigs are now operating on the property and are expected to continue through the summer and into the fourth quarter of 2026. The road-accessible, 8,579 hectare Haldane Property is located 25 km west of Keno City, YT, adjacent to Hecla Mining’s producing Keno Hill Silver Mine property. The Haldane Property hosts numerous occurrences of silver-lead-zinc-bearing quartz siderite veins resembling the ore-bearing veins being mined at Keno Hill. The 2026 program is designed to achieve two parallel objectives: Main Zone expansion and new target testing. One drill will focus on expanding the Main Zone target, where the Company has identified mineralization over 100 metres of strike and approximately 300 metres downdip from surface, including a 2025 result of 13.15 metres averaging 818 g/t silver, 1.39 g/t gold, 2.54% lead and 0.98% zinc from 249.9 metres down hole in HLD25-31. The second rig will test known targets such as Bighorn, where only one hole has been drilled to date, as well as new targets generated from ongoing surface fieldwork and the Company’s recently completed SkyTEM airborne geophysical survey. In addition to diamond drilling, field crews will be ground-truthing targets generated from the SkyTEM survey, as well as conducting detailed structural and lithological mapping at the Main, West Fault, Middlecoff and other target areas to refine the structural and lithological models for these targets. It is expected that five to seven thousand metres of drilling will be completed in the 2026 campaign, which is expected to be finished in October. New Risk • May 26
New major risk - Revenue and earnings growth Earnings have declined by 0.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (73% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$27.0m market cap, or US$19.5m). 
