American Eagle to Materially Increase 2026 Drill Program, Including Year-Round Drilling
American Eagle to Materially Increase 2026
Drill Program, Including Year-Round Drilling
Highlights:
The 2026 exploration season is to commence in April, with more than 50,000 metres of drilling
planned
Over $55 million in proforma cash to fund NAK's exploration
Four cornerstone investors: South32, Teck Resources Limited ("Teck"), Eric Sprott, and Ore
Group currently hold over 50 percent of American Eagle's outstanding shares
Mineral Resource Estimate and Preliminary Economic Assessment to begin in 2027
Toronto, Ontario--(Newsfile Corp. - March 31, 2026) -
American Eagle Gold Corp
.
(TSXV: AE)
(OTCQB: AMEGF)
("
American Eagle
" or the "
Company
") is pleased to provide a preliminary plan for
the upcoming 2026 exploration program at NAK, the Company's 100% owned copper gold porphyry
project near Smithers, British Columbia.
"We believe the project has now achieved the critical mass necessary to begin planning for a maiden
mineral resource estimate and a preliminary economic assessment, both of which could be targeted for
2027 following the upcoming field season. The South Zone already hosts a well-defined, high-grade,
near-surface centre of gravity, while the broader scale of the NAK system became increasingly apparent
through our 2025 drilling. With over $55 million on a proforma basis, we are well-positioned to continue
advancing the project. Areas once thought to be less prospective or barren are now proving to host
continuous mineralization, materially expanding our view of the system and its potential.
The Company has no shortage of compelling targets as we continue to define and expand the South
Zone and step out across the broader system. Our goal is to demonstrate to shareholders the true scale
and significance of this mineralized system.
Our 2026 drill program will be the largest and most ambitious ever undertaken in the region, with more
than 50,000 metres planned over the next year to expand known zones and test for additional high-grade
centres that we believe remain to be discovered," says Anthony Moreau, CEO of American Eagle.
NAK
'
s 2026 Drilling and Exploration Plans
The 2026 exploration season is expected to commence in April. Drilling will begin with three rigs, with a
fourth rig expected to be added once seasonal operations are fully stabilized. The program is designed
to continue through 2027 and is expected to comprise more than 50,000 metres of drilling.
VIEW IMAGE: NAK Plan Map Depicting the Seven Target Zones for the 2026 Drill Season
With mineralization now defined across an approximate 1.5 x 1.7-kilometre surface footprint and
extending from surface to depths exceeding 800 metres, the NAK system remains open to significant
expansion. The 2026-2027 campaign is designed not only to support substantial step-out and
exploration drilling, but also to further define the overall scale of the mineralized system.
The geological team is continuing to refine its lithological, alteration, and mineralization models by
integrating the expanded dataset generated from all work completed to date at NAK. Geochemical,
structural, and geophysical data are being analyzed alongside field observations to sharpen targeting
and optimize drill planning. The Company looks forward to providing a detailed drill plan and an in-depth
technical preview of the 2026 drill season in the coming weeks.
A significant portion of the program will also be directed toward improving the size, continuity, and
confidence of known high-grade zones, while advancing metallurgical drilling across the various
mineralized zones and alteration domains. Work completed in 2026 and early 2027 is expected to
inform an initial resource model and support the commencement of a preliminary economic assessment
in the second half of 2027.
WATCH VIDEO: VPX Neil Prowse Discusses the Seven Target Zones for the 2026 Drill Season
Following the closing of Eric Sprott's investment and with the Teck and South32 investments expected to
close on April 9, the Company anticipates having more than $55 million to fund a significant expansion of
its 2026 drill campaign.
About American Eagle's NAK Project
The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia, in Lake
Babine Nation traditional territory. It has excellent infrastructure through all-season roads and is close to
the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial
Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began
in the 1960's revealed a very large near-surface copper-gold system that measured over 1.5 km x 1.5
km. Historical work however, only sparsely tested the system to shallow depths, leaving a compelling
exploration target. Drilling initiated by American Eagle in 2022 returned significant intervals of high-
grade copper-gold mineralization that reached much deeper than the historical drilling, indicating that
zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the
broader NAK property mineralizing system.
Subsequent exploration seasons have continued to advance
the scale, grade, and tenor of mineralization at NAK, leading to continued support from strategic
shareholders Teck and South32.
For the latest videos from American Eagle, Ore Group, and all things mining, subscribe to our YouTube
Channel:
youtube.com/@theoregroup
.
About American Eagle Gold Corp.
American Eagle is dedicated to advancing its NAK copper-gold porphyry project in west-central British
Columbia, Canada. The Company will benefit from over $55 million following the April 9
th
closing,
bolstered by four key shareholders, including major mining companies Teck Resources Limited and
South32, and large strategic investors Eric Sprott and Ore Group. With substantial financial and
technical resources, American Eagle Gold is well-positioned to drill, de-risk, and define the full potential
of the NAK copper-gold porphyry project.
Anthony Moreau, Chief Executive Officer
416.644.1567
www.americaneaglegold.ca
Q.P. Statement
Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and independent 'qualified
person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral
Properties, has verified and approved the information contained in this news release.
Forward-Looking Statements
Certain information in this press release may contain forward-looking statements. Forward-looking
statements in this press release include, but are not limited to: including statements relating to the
closing of the financing with Teck and South32, the shareholdings of certain investors, the expected
financial resources, the 2026-2027 drilling and exploration program or its anticipated results at the
Company's NAK project, and other matters ancillary or incidental to the foregoing. This information is
based on current expectations that are subject to significant risks and uncertainties that are difficult to
predict. Therefore, actual results might differ materially from those suggested in 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.sedarplus.ca
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/290612