American Eagle Expands NAK Drill Program; Grant of Stock Options
Toronto, Ontario – October 17, 2022 – American Eagle Gold Corp. (AE: TSXV) ("American Eagle" or the "Company") is pleased to announce that it is expanding its current drill program by approximately 2,500 metres in three additional drill holes. This expansion will be financed by its recent option agreement, announced on October 13, 2022.
The Company also announces a grant of stock options to directors, officers, employees, and consultants, allowing for the acquisition of up to 4,025,000 shares of the Company. These options will vest in 12 months and are exercisable at CAD $0.10 for five years from the date of grant and are subject to regulatory policies.
The Company would also like to announce that David Shaddrick has resigned as a director of the Company. American Eagle would like to thank David for his nearly two years of contribution.
About American Eagle Gold Corp.
American Eagle trades under the symbol AE on the TSX Venture Exchange and is focused on exploring its NAK project in the Babine Copper-Gold Porphyry district of west-central British Columbia. American Eagle has contracted C.J. Greig and Associates Ltd. to execute the Company's exploration program at NAK. Geologist and President of C.J Greig & Associates, Charlie Greig, who is a Geologic Advisor to the Company, is a recipient of 'PDAC's 2022 Bill Dennis Award, which recognized the significant 2018 discovery of the Saddle North Copper-Gold porphyry system that he and his team made at 'GTGold's Tatogga property in northwest B.C.
About the NAK Project
NAK lies in the Babine Copper-Gold porphyry district of west-central British Columbia (click here to view). It is defined by a compelling geophysical signature that has similarities to classic porphyry systems (e.g., close association of airborne magnetic highs with IP chargeability highs) and to nearby Babine district deposits (Bell, Granisle, Morrison) as well as other B.C. systems, such as Newcrest's Red Chris Mine and Newmont's Saddle North deposits.
Anthony Moreau, Chief Executive Officer
Phone: 416.644.1567 Email: [email protected] www.americaneaglegold.ca
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated and whether the Company's exploration efforts on the Project produce the results that are anticipated by management. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedar.com.