Nikolai Nickel Project Has Major Increase In Mineral Resource Estimate

VANCOUVER - Alaska Energy Metals Corporation (AEMC) reported on an updated independent mineral resource estimate prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) (2025 MRE or 2025 Resource) for its Eureka Deposit, Nikolai Nickel Project in Alaska. The newly published 2025 MRE contains 1,190 million tonnes of in situ Indicated resource (an increase of 46%), 2,087 million tonnes of in situ Inferred resource (an increase of 133%), and features an increase in the NiEq grade, a deeper economic pit due to a decrease in the cutoff grade (COG) of 0.064% recovered NiEq, and a 1.6 to 1 strip ratio. The study was completed to include the four diamond drill holes (1,597.6 meters).

President & CEO, Gregory Beischer said, "In less than two years, we have taken the Nikolai Project from an exploration concept to a substantial deposit of nickel and multiple other critical metals. The Eureka deposit represents a globally significant accumulation of nickel and is the largest of its type in the United States. At a time when the United States government has prioritized the reshoring of critical mineral supply chains to America, AEMC's Nikolai project offers immediate opportunity on US soil in Alaska. I am particularly encouraged by the extension and delineation of the higher-grade core zone. This zone comes right to surface and could be mined in the early years to achieve rapid payback of capital. Nikolai could potentially become an important source of nickel for the USA, catering to the needs of various manufacturing sectors including stainless steel, defense components, aeronautical components, rechargeable batteries, grid-scale renewable energy storage systems and a myriad of other uses. The significant achievement speaks volumes about AEMC's commitment to developing the Nikolai Project and to the hard work our team has put into the project over the past two years."