Silver North Resources Ltd. — Capital/Financing Update 2020

Oct 9, 2020

==> picture [179 x 51] intentionally omitted <==

Trading Symbol (TSX-V:ANZ) 410-325 Howe Street Vancouver, British Columbia Canada V6C 1Z7 Tel: (604) 687 3520 Fax: 1 888 889 4874 www.alianzaminerals.com

NR 20-19

Alianza Minerals Financing Fully Subscribed

Not for distribution to United States Newswire Services or for dissemination in the United States

Vancouver, B.C., October 8, 2020 – Alianza Minerals Ltd. (TSX-V: ANZ, OTC: TARSF) (“ Alianza ” or the “ Company ”) is pleased to announce that the private placements of Flow-Through Shares and Units are now fully subscribed and the offerings will close shortly. The Flow-Through Shares were offered at $0.155 per share and the Unit offering is priced at $0.135 per unit, where each unit consists of one share and one half warrant, with each full warrant exchangeable for one share at $0.20. The Flow-Through Shares offering was increased by $651,575 from the $1.5 million announced initially. To compensate, the Units offering was decreased by $350,000. In addition, Alianza has recently received $337,000 from exercises of warrants and finders’ warrants.

Jason Weber, President and CEO of Alianza, noted that “We are thankful to our shareholders, both existing and new, for supporting us in this financing. We now look forward to commencing drilling at our Haldane silver project in Yukon’s Keno Hill District.”

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Alianza Minerals Ltd.

Alianza employs a hybrid business model of joint venture funding and self-funded projects to maximize opportunity for exploration success. The Company currently has gold, silver and base metal projects in Yukon Territory, British Columbia, Nevada and Peru. Alianza currently has two projects optioned out in Nevada and Yukon Territory, and is actively exploring on two others. Alianza’s current partners include Hochschild Mining PLC and Coeur Mining, Inc.

The Company is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTC market in the US under the symbol TARSF.

Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.

For further information, contact: Jason Weber, President and CEO Sandrine Lam, Shareholder Communications Tel: (604) 687-3520 Fax: (888) 889-4874 www.alianzaminerals.com

Renmark Financial Communications Inc.

Melanie Barbeau mbarbeau@renmarkfinancial.com Tel: (416) 644-2020 or (514) 939-3989 www.renmarkfinancial.com

To learn more visit: www.alianzaminerals.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARDLOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.