American Eagle Gold Corp. announced that hole NAK23-12 intersected 900 metres of 0.50% Copper Equivalent (CuEq) from surface in the North Zone of its NAK Copper Gold Porphyry project. NAK23-12 Details: NAK23-12 was collared 190 m west of hole NAK22-04 and drilled on a 080 azimuth, testing the east- west extent of the bornite-rich copper mineralization encountered in NAK22-04.

From 80 m to 119.80 m, a densely bornite and chalcopyrite-mineralized fine-grained dyke was encountered in contact with variably mineralized host sedimentary rocks. The dyke returned 39.8 m of 0.95% CuEq, including 0.86% Cu, and was associated with a broader 50 m interval, including disseminated mineralization in the bounding sedimentary rocks, returning 0.88 % CuEq. At 344 m depth, NAK23-12 encountered a strongly mineralized conglomerate that hosts abundant disseminated chalcopyrite and bornite within both clasts and matrix of the conglomerate, along with common shallow dipping veins and veinlets of bornite and chalcopyrite.

Bornite increases in abundance relative to chalcopyrite with depth, as it did in NAK22-04, and chalcocite mineralization appears in narrow veinlets below 600 m. At a depth of 840 m, the first instance of Babine stock granodiorite was encountered. It hosts a similar abundance of bornite- chalcocite-chalcopyrite veins as the conglomerate but lacks the densely disseminated sulphide. Assays from 351 m to the beginning of the consistent granodiorite at 884 m returned 540 m grading 0.61% CuEq, with 0.41% Cu and 0.16g/t Au.

Alteration below 344 m is consistent with the potassic alteration observed with South Zone mineralization, with magnetite-biotite rich replacements and seams, along with common pink potassium feldspar alteration selvages to sulphide veins. Update on NAK Holes NAK23-13 to -16: Assays for drill holes NAK23-13 and -14 will be received in the coming weeks. These holes were drilled to the south and north of the east-west section containing holes NAK23-12 and NAK22-04, testing the east-west extent of the North Zone mineralization in those areas.

Both holes encountered encouraging bornite-chalcopyrite mineralization within conglomeratic rocks over broad intervals. These observations, along with those from the Company's drilling at the South Zone this season, strongly suggest that good exploration potential exists between the two zones to the west of the 2022 drill fence, which is west of the only deep hole drilled between the zones (hole NAK22-03, which returned 906m of 0.21% CuEq).