Mr. Jason Weber reports

SILVER NORTH ANNOUNCES FURTHER UPSIZE OF BROKERED LIFE PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO C$10.6 MILLION

Further to the company's news release dated Jan. 16, 2026, and as a result of strong investor demand, Silver North Resources Ltd. and Red Cloud Securities Inc. have agreed to further increase the maximum gross proceeds of its previously announced best efforts private placement from $7-million to $10,584,000. Pursuant to the upsized marketed offering, the company has agreed to sell: (i) up to five million units of the company at a price of 40 cents per unit; and (ii) up to 15,328,572 flow-through (FT) units of the company to be sold to charitable purchasers at a price of 56 cents per charity FT unit. Red Cloud is acting as sole agent and bookrunner in connection with the offering.

Mark T. Brown, executive chair of Siver North, commented: "We have been selective on the financing participants and this addition is for one group that any company would want to have on their shareholder list. With these funds, the company is fully funded for two full years of exploration and operating costs. In addition, larger drill programs at the Haldane silver project will be more efficient on a cost per metre basis."

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each charity FT unit will consist of one common share of the company to be issued as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one warrant. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of 56 cents at any time after the 60th day following the closing date (as herein defined) to the date that is on or before that date that is 36 months after the closing date.

The company has also granted Red Cloud an option, exercisable in full or in part up to 48 hours prior to the closing of the marketed offering, to sell up to an additional $1-million in any combination of units and charity FT units at their respective offering prices. The marketed offering and the securities issuable upon exercise of the agent's option shall be collectively referred to as the offering.

The company intends to use the gross proceeds from the offering for exploration and related programs on the company's Haldane and Veronica properties in Yukon, as well as for working capital and general corporate purposes, as is more fully described in the amended offering document (as herein defined).

The gross proceeds from the sale of FT shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) related to the company's Haldane and GDR projects on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the charity FT units effective Dec. 31, 2026. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each charity FT unit subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, up to 15,696,747 offered securities will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan pursuant to the listed issuer financing exemption (LIFE) under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable from the sale of the LIFE securities are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The units will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. Up to 6.4 million charity FT units will be issued pursuant to available exemptions from the prospectus requirement under NI 45-106, other than the listed issuer financing exemption. The charity FT units issued pursuant to the non-LIFE exemptions will be subject to a hold period in Canada of four months and one day following the closing date.

There is an amended and restated offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this amended offering document before making an investment decision.

The offering is expected to close on or about Feb. 10, 2026, or such other date as the company and Red Cloud may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About Silver North Resources Ltd.

Silver North's primary assets are its 100-per-cent-owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill mine project), the Tim silver project (under option to Coeur Mining Inc. in the Silvertip/Midway district, British Columbia and Yukon) and the GDR (Veronica) project, also in the Silvertip/Midway district. Silver North also plans to acquire additional silver properties in favourable jurisdictions.

The company is listed on the TSX Venture Exchange under the symbol SNAG, trades on the OTCQB in the United States under the symbol TARSF and under the symbol I90 on the Frankfurt Stock Exchange.

We seek Safe Harbor.