Article content

VANCOUVER, British Columbia, April 18, 2024 (GLOBE NEWSWIRE) — Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) today announced that it has filed an amended Technical Report titled “Nikolai Mineral Resource Estimate Technical Report Amended and Updated” (the “Amended Report”), with an effective date of April 12^th, 2024, for its 100% owned Eureka Property, Nikolai Nickel Project in Alaska, USA. On April 2nd, 2024, the Company filed a preliminary short-form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, except Quebec and Nunavut. This resulted in a review of the Canadian Securities Administration National Instrument 43-101 Standards for Mineral Projects (“NI 43-101”) Technical Report filed on March 14, 2024 (“Original Report”), and the review is now complete.

Article content

The Amended Report contains no material differences, and the Mineral Resource Estimate remains unchanged from the Original Report. The Amended Report complies with the technical requirements of NI 43-101 and Form 43-101F1 (the “Form”).

Article content

A summary description of the changes to the Amended Report are as follows:

• Addition of a Qualified Person who performed a site visit to the Nikolai Nickel Project in August and September of 2023 and authored Sections 1.2, 12.1, 12.3, 12.4 and 12.5.
• Clarification to ensure that the Amended Report is limited to the work, interpretations, and conclusions of the authors.
• Strengthened the sections relating to Data Verification, Sample Preparation, Analyses and Security by describing the steps and procedures taken by the authors to verify the data disclosed.
• Recommendations have been reduced from three phases to two phases of work to comply with Item 26 of the Form.
• The title page has been updated to include general location of the property and the authors names and professional designations.

Alaska Energy Metals President & CEO Gregory Beischer commented: “We are pleased that the report the Qualified Persons at Stantec prepared in February had only a few, non-material changes required by the thorough reviewers at the securities commission. The final 43-101 report gives a clear, supportable, documentation of the Mineral Resource Estimate that we have quickly established at the Nikolai project Eureka deposit in just one year of operations.”

Article content

Article content

The Amended Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on Alaska Energy Metals website (www.alaskaenergymetals.com).

STOCK OPTIONS
The Company confirms its previously announced intention to grant an aggregate of 275,000 stock options to a consultant who is a financial adviser to the Company, and to Sydney Knight, an investor relations professional that has recently joined the Company. The stock options were granted at a strike price of $0.195 and have a term of five years. The options granted to Sydney Knight will be subject to the TSXV mandatory vesting schedule for investor relations professionals.

QUALIFIED PERSON
Gregory Beischer, the Company’s President and CEO is the qualified person who reviewed and approved the technical disclosure in this news release.

For additional information, visit: https://alaskaenergymetals.com/ 

ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders. 

Article content

AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic energy-related metals for North America. AEMC also holds a secondary project, ‘Angliers-Belleterre,’ in western Quebec. Today, material sourcing demands excellence in environmental performance, carbon mitigation and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164

Sarah Mawji, Public Relations
Venture Strategies
Email: sarah@venturestrategies.com

Article content

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation). These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

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 press release.

Article content