Private Placement To Extend Exploration Program

TUCSON, AZ - Western Alaska Minerals Corp. intends to increase the size of its previously announced non-brokered private placement of common shares in the capital of the Company. The gross proceeds of the Offering will be used to fund the extension of the Company's 2022 exploration program through year-end and which, using the two Company-owned drill rigs, would bring the year's drilling meterage to approximately 10,500 meters. The core focus of the 2022 program remains step-out drilling of the Waterpump Creek carbonate replacement deposit ("CRD") to gauge the overall footprint of the bonanza silver/zinc/lead mineralization encountered in 2021 and further explored in 2022. The proceeds will additionally be used to further explore along trend in the Last Hurrah area based on the recently completed system-wide CSAMT (controlled-source audio-magnetotellurics) program, initial metallurgical studies and ongoing road route and environmental baseline studies, expenditures in anticipation of the 2023 drill program, and general corporate purposes.