AE.V · 2025-07-23 12:00:00

American Eagle Drills 644 Metres of 0.50% CuEq from Surface, Expanding Near-Surface South Zone at NAK

Drill Results

American Eagle Drills 644 Metres of 0.50%

CuEq from Surface, Expanding Near-Surface

South Zone at NAK

Highlights:

0.50 % Copper Equivalent over 644 metres from surface in NAK25-41, including

387 m at 0.61 % Copper Equivalent

0.57 % Copper Equivalent over 207 metres from surface in NAK25-42

0.35% Copper Equivalent over 182 metres from near surface in NAK25-39

Toronto, Ontario--(Newsfile Corp. - July 23, 2025) - American Eagle Gold Corp. (TSXV: AE) ("American

Eagle" or the "Company") is pleased to report results from the first four drill holes of its 2025 exploration

campaign at its 100% owned NAK copper-gold project. The results demonstrate broad, high-grade

intercepts that expand the near surface South Zone both southward and westward, reinforcing the

strength and scale of the north-south mineralized trend.

The

South Zone

is particularly significant due to its strong grades starting at surface, a rare feature in

large-scale porphyry systems. This makes the South Zone a cornerstone from which to build an

emerging resource upon and sets NAK apart from other exploration-stage copper-gold projects.

Drill hole NAK25-41, collared 100 metres south of the historically defined South Zone, returned 387

metres of 0.61% copper equivalent (CuEq) within a broader interval of 644 metres grading 0.50% CuEq

from surface. This intercept significantly expands the known footprint of near-surface mineralization.

The South Zone, previously interpreted to be constrained to the south by hole NAK23-15, has now been

geologically reinterpreted as open across a wide area southward, presenting a major opportunity for

further growth. The Company plans to follow up these promising results with continued step-out drilling to

the south and southeast along the mineralized trend.

The additional holes released today further define and expand the South Zone:

NAK25-42 confirms the continuity between the high-grade near-surface mineralization and deeper

mineralization encountered in previous holes (NAK23-17 and NAK24-31).

NAK25-40 and NAK25-41 extends the South Zone even farther south than previously known,

supporting a growing mineralized footprint.

NAK25-39 is particularly noteworthy for extending shallow mineralization more than 100 metres to

the west, opening new potential along the western flank of the South Zone and adding significant

near-surface tonnage.

View plan map of announced drill holes

View Video of CEO Anthony Moreau and NAK Technical Team Discuss Results

"The South Zone is a high-grade, near-surface discovery that we've been focused on expanding since

we began drilling at NAK in 2022. With these latest results, it's possible the South Zone could stand

alone as a near-term development opportunity-one that could enable rapid capital payback and unlock

the potential for a much larger mining operation across the broader property. Through our offseason

technical work and recent drilling, we've now outlined a nearly two-kilometer-long mineralized corridor

west of the historical Babine porphyry stock, which on its own may support a viable mining scenario.

That's an exciting prospect. And we're just getting started-we're about to launch the helicopter-supported

phase of our 2025 drill campaign, targeting high-potential zones elsewhere on the property, including the

historically outlined but underexplored porphyry stock that lies at the heart of the NAK system," stated

CEO Anthony Moreau.

View updated plan map of 2025 planned drill holes

View 2025 NAK Core Photos

NAK25-41 Assay Results (Table 1) and Details*

Hole

From (m)

To (m)

Length (m)

Cu %

Au g/t

Ag g/t

Mo ppm

Cu Eq %

NAK25-41

16.6

661.0

644.4

0.22%

0.21

1.6

158

0.50%

Including

NAK25-41

225.6

613.0

387.4

0.28%

0.23

1.0

221

0.61%

Including

NAK25-41

299.8

504.0

204.2

0.35%

0.31

1.3

288

0.79%

Including

NAK25-41

393.5

504.0

110.5

0.42%

0.38

1.4

264

0.89%

Cross Section, NAK25-41

Copper Equivalent (CuEq) shown in Tables for drill intercepts are calculated on the basis of US$ 3.75/lb for Cu, US$ 1,900/oz for Au, US$ 25/oz for Ag

and US$ 25/lb for Mo, with 80% metallurgical recoveries assumed for all metals (since it's unclear what metals will be the principal products, assuming

different recoveries is premature at this stage). The formula is: CuEq. = Cu % + (Au grade in g/t

x (Au recovery / Cu recovery) x [Au price ÷ 31] / [Cu price

x 2200]) + (Ag grade in g/t x

(Ag recovery / Cu recovery) x [Ag price ÷ 31] / [Cu price x 2200] + (Mo grade in %

x (Mo recovery / Cu recovery) x [Mo price x

2200] / [Cu price x 2200]). The assays have not been capped.

NAK25-41

was collared approximately 100 m south of the historical South zone and 100 m east of

NAK23-15, the southernmost hole drilled by the Company along the main mineralized trend on the

property, west of the Babine porphyry stock (the Main zone).

NAK25-41 was drilled on a western azimuth

further validating the Company's geological modeling by intersecting a moderately east-northeast

dipping stratigraphic succession which includes an upper and generally fine-grained package of

sedimentary rocks, underlain successively by well-mineralized pebble to cobble conglomerate and a

lower package of locally concretion-bearing sandstones and siltstones.

As is commonly the case at

NAK, intermittent near-surface vein-associated chalcopyrite mineralization increases in tenor with depth

through the presence of more consistent disseminations, more abundant veins, and the addition of

subordinate bornite/molybdenite mineralization at moderate depths. This increase in tenor also broadly

correlates with a down-hole change in the host rocks, from finer-grained sedimentary rocks to

conglomerate.

In NAK25-41, what is perhaps most encouraging is that mineralization remained strong

across the transition at depth from the conglomerate into the lower sedimentary sequence, down to a

depth of over 600 meters, where pyrite becomes the most abundant sulphide species.

NAK25-42 Assay Results (Table 2) and Details

Hole

From (m)

To (m)

Length (m)

Cu %

Au g/t

Ag g/t

Mo ppm

Cu Eq %

NAK25-42

242

207

0.11

0.55

0.7

0.57

within

NAK25-42

515

487

0.10

0.29

0.5

0.35

Cross Section, NAK25-42

NAK25-42

was collared approximately 100 m east of NAK24-31 and drilled to the east. The drill hole

was designed to test for continuity of grade between the relatively gold-rich historical South zone and the

copper-gold rich mineralization intersected at moderate depths to the west, in drill holes NAK23-17 and

NAK24-31.

NAK25-42 collared into the upper fine-grained sedimentary sequence before intersecting

variably altered and very well mineralized intrusive rocks between 90 and 225 m downhole. The host

intrusive rocks in this well-mineralized interval are cut by common narrow chalcopyrite and bornite-

bearing stringer-style veinlets and fractures that also characterize much of the gold-rich South zone.

Mineralization in this hole remained strong downhole beyond the intrusion until a depth of approximately

250 m, where it gradually weakened in a variably altered but consistently mineralized conglomerate to

the end of the hole.

NAK25-39 Assay Results (Table 2) and Details

Hole

From (m)

To (m)

Length (m)

Cu %

Au g/t

Ag g/t

Mo ppm

Cu Eq %

NAK25-39

83.5

265.7

182.2

0.18

0.10

0.8

120

0.35

within

NAK25-39

602

570

0.11

0.07

0.8

0.22

Cross Section, NAK25-39

NAK25-39

was collared from the same pad as NAK24-31, but drilled to the west, in the opposite

direction to -31.

It was designed to test the area west of the Main zone and represents the Company's

westernmost test of the zone.

As expected, the best mineralization intersected in NAK24-39 was near

the top of the hole, where moderately strongly disseminated chalcopyrite, along with local anhydrite-

molybdenite veins, occur between 70 and 270 m downhole.

The mineralization was hosted largely by

conglomerate, and the tenor decreases somewhat as pyrite becomes more prevalent westerly and to

depth.

Still farther west and deeper, local meter-scale zones of strong chalcopyrite mineralization are

present, but pyrite and pyrrhotite, along with total sulphides, increase in abundance, which is consistent

with the well-defined induced polarization chargeability anomaly present at NAK.

Despite not

intersecting higher grades downhole, NAK25-39 was successful in extending strong grades at shallow

depths for over 100 m to the west of NAK23-17.

NAK25-40 Assay Results (Table 2) and Details

Hole

From (m)

To (m)

Length (m)

Cu %

Au g/t

Ag g/t

Mo ppm

Cu Eq %

NAK24-40

13.3

212.5

199.2

0.14

0.21

1.3

0.36

within

NAK24-40

13.3

422

408.7

0.09

0.13

0.7

0.23

Cross Section, NAK25-40

NAK25-40

was collared from the same location as NAK25-41, but drilled to the north, targeting the

historically defined South zone in a previously untested area.

The hole collared into weakly mineralized

dykes which intruding well-mineralized fine-grained sedimentary rocks that host veins and fracture

coatings of chalcopyrite and bornite. Mineralization remained strong down to a depth of 210 m, where

rocks of the historical Babine porphyry stock yield somewhat lower grades from more sparsely

distributed bornite-chalcopyrite-bearing veins and fracture coatings.

NAK25-40 was successful in

confirming the presence of near-surface South zone mineralization at least 50m farther south than was

previously known.

The zone remains open to the southeast.

Collar details for holes drilled in the 2022, 2023 and 2024 drill program (table 6):

Hole

UTM_Grid

UTM_East

UTM_North

Azimuth

Dip

News Release

NAK22-01

NAD83_Z9

675281

6129359

n/a

-90

881

07-Nov-22

NAK22-02

NAD83_Z9

675281

6129359

340

-70

984

05-Dec-22

NAK22-03

NAD83_Z9

675201

6129658

n/a

-90

941

25-Jan-23

NAK22-04

NAD83_Z9

675181

6129862

n/a

-90

548

25-Jan-23

NAK22-05

NAD83_Z9

675105

6130067

n/a

-90

824

02-Mar-23

NAK22-06

NAD83_Z9

675376

6129782

260

-77

920

02-Mar-23

NAK22-07

NAD83_Z9

675181

6129862

170

-81

874

02-Mar-23

NAK23-08

NAD83_Z9

675341

6129341

270

-60

881

09-Aug-23

NAK23-09

NAD83_Z9

675990

6129284

-65

837

14-Sep-23

NAK23-10

NAD83_Z9

675357

6129415

270

-60

855

19-Sep-23

NAK23-11

NAD83_Z9

675215

6129340

270

-60

836

19-Sep-23

NAK23-12

NAD83_Z9

674999

6129846

-70

929

12-Oct-23

NAK23-13

NAD83_Z9

675205

6129773

270

-60

620

08-Jan-24

NAK23-14

NAD83_Z9

675260

6129934

260

-70

749

08-Jan-24

NAK23-15

NAD83_Z9

675211

6129232

270

-60

617

08-Jan-24

NAK23-16

NAD83_Z9

675166

6129479

265

-65

743

08-Jan-24

NAK23-17

NAD83_Z9

674969

6129377

105

-73

810

08-Jan-24

NAK24-18

NAD83_Z9

674961

6129472

-77

914

20-Aug-24

NAK24-19

NAD83_Z9

675219

6129388

120

-55

951

20-Aug-24

NAK24-20

NAD83_Z9

674946

6129573

-72

933

20-Aug-24

NAK24-21

NAD83_Z9

675264

6129415

n/a

-90

419

20-Aug-24

NAK23-22

NAD83_Z9

674927

6129673

-71

943

21-Oct-24

NAK24-23

NAD83_Z9

675264

6129415

340

-70

526

20-Aug-24

NAK24-24

NAD83_Z9

675264

6129415

340

-55

950

21-Oct-24

NAK24-25

NAD83_Z9

674930

6129766

-74

923

21-Oct-24

NAK24-26

NAD83_Z9

675264

6129415

300

-60

586

21-Oct-24

NAK24-27

NAD83_Z9

674898

6129857

-70

977

03-Dec-24

NAK24-28

NAD83_Z9

675357

6129415

115

-55

632

21-Oct-24

NAK24-29

NAD83_Z9

675063

6129485

-70

599

03-Dec-24

NAK24-30

NAD83_Z9

675021

6129939

-72

899

03-Dec-24

NAK24-31

NAD83_Z9

675063

6129352

-78

494

14-Jan-25

NAK24-32

NAD83_Z9

675049

6129581

-70

605

18-Dec-24

NAK24-33

NAD83_Z9

675044

6130018

-70

962

18-Dec-24

NAK24-34

NAD83_Z9

675031

6129671

-70

669

18-Dec-24

NAK24-35

NAD83_Z9

675105

6130067

-65

922

14-Jan-25

NAK24-36

NAD83_Z9

675509

6129440

115

-55

641

14-Jan-25

NAK24-37

NAD83_Z9

675105

6130067

-55

842

14-Jan-25

NAK24-38

NAD83_Z9

675181

6129862

-55

890

14-Jan-25

NAK25-39

NAD83_Z9

675063

6129352

270

-60

656

This Release

NAK25-40

NAD83_Z9

675298

6129237

-55

422

This Release

NAK25-41

NAD83_Z9

675298

6129237

270

-60

722

This Release

NAK25-42

NAD83_Z9

675162

6129340

-65

515

This Release

NAK25-43

NAD83_Z9

675303

6130227

250

-60

854

Pending

NAK25-44

NAD83_Z9

675455

6129297

210

-60

815

Pending

NAK25-45

NAD83_Z9

675303

6130227

300

-60

911

Pending

NAK25-46

NAD83_Z9

675455

6129297

260

-60

876

Pending

NAK25-47

NAD83_Z9

675207

6130137

-60

764

Pending

NAK25-48

NAD83_Z9

675509

6129440

210

-60

TBD

In Progress

NAK25-49

NAD83_Z9

675290

6129139

270

-60

TBD

In progress

QA/QC and Sampling Protocol

Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on

site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and

analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include

quality control standards inserted at set frequencies. The entire sample interval is crushed and

homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold,

silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire

assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g

of pulp. Analysis for silver, copper, and molybdenum and all other major and trace elements are analyzed

by four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than

3 m in length. To control standard, blank, and duplicate sample frequency, and to better constrain

pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-

sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular

intervals, and two blank samples, inserted sequentially following well-mineralized samples where

possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2024

program passed within 2 standard deviations of expected values. Where duplicate values differed

significantly, the lower values from the resulting re-analyses were used.

About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. 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, tested only to

shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over

1.5 km x 1.5 km. Drilling completed by American Eagle in 2022, 2023, and 2024 returned significant

intervals of high-grade copper-gold mineralization that reached beyond and 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.

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 benefits from over $36 million in cash, bolstered by two strategic

investors formed in the past two years with Teck Resources and South32. 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

[email protected]

www.americaneaglegold.ca

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and '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 use of

proceeds of the Offering, the tax treatment of the Charity FT Shares, the receipt of all necessary

regulatory approvals in connection with the Offering, the 2025 drill program or its anticipated results at

the Company's NAK project, the ability of the Company to make the Qualifying Expenditures as

anticipated by management, 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/259677

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