Alaska Energy Metals Corporation announced assay results from drill holes EZ-24-009 & EZ-24-010. The holes were drilled as part of the Company?s 2024 Eureka resource expansion drill program at its 100% owned Nikolai Project in Central Alaska. Four diamond drill holes, totaling 1597.6 meters (m), were drilled during the exploration campaign.

Results from drill holes EZ-24-011 and EZ-24-012 are pending and will be released up receipt and validation. HOLE EZ-24-009 SUMMARY: EZ-24-009 was drilled ~300 meters to the southeast of EZ-23-004 to verify the extension of the higher-grade core zone from the 2024 MRE. The hole drilled into 7.9 m of overburden and then into interfingering of gabbro and pyroxenite from 7.9 m to 53.9 m. The main mineralized Eureka zone was intersected from 53.9 m to 378.0 m downhole, with assays grading: 324.1 m (308.2 m estimated true thickness) @ 0.30% NiEq (0.21% Ni, 0.08% Cu, 0.017% Co, 0.089 ppm Pd, 0.040 ppm Pt and 0.017 ppm Au), plus 0.30% Cr and 9.59% Fe.

The main mineralized Eureka zone intersection contains a core, higher-grade zone, included in the intersection above, with assays grading: 70.8 m (67.3 m estimated true thickness) @ 0.39% NiEq (0.25% Ni, 0.14% Cu, 0.019% Co, 0.156 ppm Pd, 0.061 ppm Pt and 0.030 ppm Au), plus 0.34% Cr and 10.13% FeNear the top of the core, higher-grade zone, coarse-grained magmatic sulfides were intersected. These sulfides assayed: 5.6 m (5.3 m estimated true thickness) @ 0.63% NiEq (0.45% Ni, 0.19% Cu, 0.025% Co, 0.267 ppm Pd, 0.032 ppm Pt and 0.018 ppm Au), plus 0.50% Cr and 10.06% Fe, including: 1.0 m (0.9 m estimated true thickness) @ 0.95% NiEq (0.72% Ni, 0.18% Cu, 0.035% Co, 0.398 ppm Pd, 0.030 ppm Pt and 0.011 ppm Au), plus 0.47% Cr and 10.61% FeThe main mineralized zone was hosted within a pervasively serpentinized peridotite, with varying amounts of disseminated sulfides, with up to 10% disseminated sulfides within the Core Eureka Zone. Grades and sulfide abundance within the main mineralized zone decrease near the contact with a pyroxenite and wehrlite intrusive rock phase from 378.0 m to 451.7 m (EOH).

The mineralization is currently open in all directions. HOLE EZ-24-010 SUMMARY: EZ-24-010 was drilled ~300 meters to the southeast of EZ-24-009 to verify the continued extension of the higher-grade core zone. The hole drilled into 7.5 m of overburden and then into interfingering of gabbro and pyroxenite from 7.9 m to 51.2 m. The main mineralized Eureka zone was intersected from 45.7 m to 383.1 m downhole, with assays grading: 337.4 m (320.8 m estimated true thickness) @ 0.31% NiEq (0.22% Ni, 0.07% Cu, 0.017% Co, 0.095 ppm Pd, 0.040 ppm Pt and 0.014 ppm Au), plus 0.32% Cr and 10.01% Fe.

The main mineralized Eureka zone intersection contains a core, higher-grade zone, included in the intersection above, with assays grading: 76.2 m (72.5 m estimated true thickness) @ 0.39% NiEq (0.25% Ni, 0.14% Cu, 0.020% Co, 0.154 ppm Pd, 0.061 ppm Pt and 0.023 ppm Au), plus 0.35% Cr and 10.90% FeThe main mineralized zone was hosted within a pervasively serpentinized peridotite, with varying amounts of disseminated sulfides, with up to 6% disseminated sulfides within the Core Eureka Zone. Grades and sulfide abundance within the main mineralized zone decrease near the contact with a pyroxenite and wehrlite intrusive rock phase from 383.1 m to 438.8 m (EOH). A downhole electromagnetic survey was completed on the entire length of the drill hole.

An anomaly was detected below the hole at ~375 m. Maxwell plate modeling was unable to resolve the orientation and size of the anomaly. Further evaluation of this anomaly is ongoing. The mineralization is currently open in all directions.