Waterpump Creek Drilling Intersects Oxide Mineralization

TUCSON, AZ - Western Alaska Minerals Corp. reported on drill results from the Waterpump Creek carbonate replacement deposit (CRD) target at the Illinois Creek project in western Alaska. Additional assays are pending from 2021 drilling at the Honker high grade gold target and the Last Hurrah CRD prospect.

Highlights: 1) Nine drill holes totaling 851 meters were completed at Waterpump Creek, targeting both shallow high-grade oxide mineralization and deeper high-grade sulfide mineralization. 2) The oxide-focused drill results demonstrate an open 500 by 200+ meter wide manto of Ag, Pb, Zn CRD mineralization developed at or near a shallow east-dipping thrust contact between a thick dolomite and overlying schists. 3) WAM completed its first test of sulfide mineralization (WPC21-09) below the oxide cap in primary sulfide mineralization which demonstrated exceptional high-grade sulfide mineralization that is open down dip and to the north and south.

Notable intercepts: 1) WPC21-02 - 484 g/t silver equivalent (AgEq) (256 g/t silver, 6.4 % lead and 0.7 % zinc) over 16.7 meters from 23.2m which includes a 3.0 meter intercept of 1094 g/t Ag, 27.4% Pb and 0.3% Zn between 23.2 and 26.2 meters. 2) WPC21-03 - 584 g/t silver equivalent (AgEq) (89 g/t silver, 7.7% lead and 6.3% zinc) over 9.7 meters from 63.1m and 1337 g/t Ag over 1.5 meters with nil Pb and Zn from 50.9 and 52.4 meters. 3) WPC21-09 (Previously Released) - 1886 g/t silver equivalent (AgEq) (522 g/t silver, 14.5% lead and 22.5% zinc) over 10.5 meters from 109.4m.

"Exploration at Waterpump Creek in 2021 focused on expanding our understanding of the high-grade manto mineralization first discovered by Anaconda Minerals Co. in the early 1980’s,” said, CEO and President Kit Marrs. "Because CRD's are known for their exceptionally long continuity, large high-grade resource potential and often stacked nature of mineralization, 2022 exploration at Waterpump Creek will focus on expanding the high-grade mineralization identified in WPC21-09 and the continued testing of the Waterpump Creek Fault/Last Hurrah trend south of Waterpump Creek.”