HIGHLIGHTS Alaska Energy Metals received assay results from the remaining two drill holes completed during the 2024 Eureka resource expansion exploration program. The drill program has successfully extended the Eureka deposit by 1.8 kilometers (km).

The drilled extent of the deposit is now approximately 5.5 km. The deposit features nickel as the primary commodity but has multiple critical metals – copper, cobalt, chromium, platinum, and palladium.

It is anticipated that the summer drill program will add significant tonnage and metal content to the existing Mineral Resource Estimate (MRE). The Company plans to publish an updated MRE and metallurgical results in the first quarter of 2025. Significant estimated true thicknesses of polymetallic mineralization were intersected in the final two holes of the program, including: EZ-24-012 – 330.

9 meters @ 0.28% nickel equivalent (NiEq) (0.20% Ni, 0.

07% Cu, 0.015% Co, 0.085 ppm Pd, 0.

036 ppm Pt and 0.012 ppm Au), plus 0.28% Cr, 9.

49% Fe EZ-24-011 – 107.5 meters @ 0.29% NiEq (0.

22% Ni, 0.05% Cu, 0.017% Co, 0.

055 ppm Pd, 0.028 ppm Pt and 0.008 ppm Au), plus 0.

27% Cr and 10.10% Fe Alaska Energy Metals Chief Geologist Gabe Graf commented: “ Now, with all 2024 results received from our Eureka resource expansion drill program, we can work to calculate an update to our MRE and anticipate producing this update in the first quarter of 2025. This is an exciting time for us, and we look forward to sharing the updated MRE with all our sta.