Alaska Energy Metals Agrees to Acquire Angliers-Belleterre Project IN Quebec
ALASKA ENERGY METALS INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
NR: 23-14
ALASKA ENERGY METALS AGREES TO ACQUIRE
ANGLIERS-BELLETERRE PROJECT IN QUEBEC
Highlights:
• Alaska Energy Metals Corporation has agreed to purchase 1413336 BC Ltd., the owner of the
Angliers-Belleterre nickel-copper project in western Quebec.
• The target company assets include approximately $2.8 million in cash.
• The Angliers-Belleterre property is underlain by komatiitic ultramafic flow rocks and
differentiated gabbro rocks in a regional setting thought to be a mantle plume. The setting is
similar to that of the Kambalda nickel district in Australia.
• Significant nickel prospects on adjacent claims, for example, the Midrim nickel prospect, appear
to trend onto the Angliers-Belleterre project, and there is a six-kilometre long belt of nickel-
enriched rocks documented by the Quebec government on the project.
• By virtue of owning a Quebec project, AEMC will have greater access to inexpensive flow -
through capital and be eligible for rebates on exploration expenditures.
VANCOUVER, BRITISH COLUMBIA, September 20, 2023 – Alaska Energy Metals Corporation (TSX-V:
AEMC, OTCQB: AKEMF) (“AEMC” or “the Company”) is pleased to announce it has entered a binding
Letter of Intent (“LOI”) to purchase an arm’s-length company named 1413336 BC Ltd. (“141 BC”)
effective September 20, 2023. The target company assets include the Angliers-Belleterre nickel-copper
project (the “Angliers project”) in western Quebec and approximately $2.8 million in cash.
AEMC has agreed to acquire 100% of the issued and outstanding securities of 141 BC through the
exchange of 31,827,720 AEMC shares (the “Consideration Shares”) and 4,105,958 AEMC warrants with
the shareholders of 141 BC on a one-to-one (1:1) basis for their existing shares and warrants of 141 BC.
The deemed price of the Consideration Shares is $0.315 per share (representing a 25% discount from
the closing market price per share on September 20, 2023). The shares will be subject to an escrow
agreement and released from escrow over a three-year period. The warrants will be exercisable at $0.80.
The transaction is expected to be affected by way of an amalgamation or share exchange; however, this
may be modified for reasons of tax, accounting or, securities regulations. No finder’s fees are payable
for this transaction. The parties have agreed to an area of mutual interest covering three kilometres of
the outer boundaries of the Angliers project.
Alaska Energy Metals President & CEO Gregory Beischer commented: “This is an area in which I am highly
familiar with, having studied it while stationed in Quebec in the late 1990s during my first career with INCO.
At the time, INCO was the largest nickel producer globally. We were attracted by the ultramafic flow rocks
ALASKA ENERGY METALS INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals
Announces Acquisition
Page 2
and the geologic conditions permissive for high -grade massive sulfide deposits. There are some great
prospects nearby that clearly show the nickel-copper sulfide deposit-forming processes were operative in the
area. It will be exciting to take a modern exploration approach to this project.”
The parties intend to enter into a definitive purchase agreement, setting out further terms and
conditions to the completion of the acquisition. The acquisition is subject to standard terms and
conditions, including acceptance by the TSX Venture Exchange.
The property is subject to a 2.5% net smelter returns production royalty that can be reduced to 1.5% by
paying the owners $1.5 million.
Angliers Property
The Angliers property is large, consisting of 454 claims covering 24,182.64 hectares. It is located in
Angliers and Belleterre townships in the Temiscamingue region of western Quebec, near the Ontario
border. The town of Angliers lies at the northern end of the claim block and St. Eugene de Guiges at the
southern end. Access is facilitated by paved highways and gravel roads.
Komatiitic ultramafic flow rocks and differentiated gabbro rocks form part of the Archean volcanic
stratigraphy of the Baby Group, in a regional setting thought to be a mantle plume (MB 2020-12
published by the Quebec Ministry of Natural Resources and Forests geologists Richer-Lafleche,
Moorhead and Goutier). Mantle plume areas are known to localize a variety of base metal deposits
from magmatic nickel–copper to polymetallic volcanogenic massive sulfide deposits. The plume area
tapped mantle-derived magmas with “primitive” trace element geochemical signatures in mafic-
ultramafic rocks. Primitive rock chemistry is documented in the MB2020-12 report. Komatiites
(ultramafic lava flows) and magnesium-rich gabbroic rocks are important rock types for the formation
of the Kambalda (Australia) district type of deposit nickel deposits. The same genetic mode may apply
at the Angliers project. Kambalda is a very rich district with multiple deposits of high-grade massive
sulfide deposits.
Nickel sulfides are documented in a series of prospects located one to three kilometres east of the
Angliers project. Airborne magnetic surveys indicate that the stratigraphy hosting these prospects
probably extends onto the Angliers property under deeper overburden cover, as shown in Figure 1.
ALASKA ENERGY METALS INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals
Announces Acquisition
Page 3
Figure 1. Claim map on airborne magnetic base map showing potential extension of Midrim nickel –
copper deposit host stratigraphy onto Angliers project claims, and elevated nickel in rock samples in
northern magnetic belt.
In the northern part of the claim block there is a belt of highly magnetic rocks. Sampling by the
Quebec government has shown that there is strongly anomalous nickel in rock samples over a six-
kilometre-long trend.
An “artificial intelligence” analysis and synthesis of data was recently performed by 141 BC. The results
of the work highlighted the potential of both the southern and northern mineralized trends and
served to focus future exploration efforts. AEMC will further compile all available public data, then,
with results in hand, perform targeted geophysical surveys to develop drill targets.
In addition to magmatic nickel-copper deposits, the Angliers property is also prospective for gold and
polymetallic volcanogenic massive sulfide deposits.
ALASKA ENERGY METALS INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals
Announces Acquisition
Page 4
Flow-Through Financing and Exploration Rebates
With a project in Quebec, AEMC will be eligible to fund exploration by raising flow-through financing.
The Company will also be able to take advantage of some of the exploration expenditure rebates
offered by the Quebec government to stimulate mineral exploration, especially for critical metals like
nickel.
Gregory Beischer, the Company’s president and chief executive officer, is the qualified person, as
defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for,
and having reviewed and approved, the technical information contained in this news release.
For additional information, visit: https://alaskaenergymetals.com/
About Alaska Energy Metals
Alaska Energy Metals Corporation is focused on delineating and developing a large polymetallic
exploration target containing nickel, copper, cobalt, chrome, iron, platinum, palladium and gold.
Located in development-friendly central Alaska near existing transportation and power infrastructure,
the project is well-situated to become a significant, domestic source of critical and strategic energy-
related metals.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
Sarah Mawji, Public Relations
Final Edit Media and Public Relations
Email: [email protected]
Some statements in this news release may contain forward-looking information (within the meaning of
Canadian securities legislation), including, without limitation, that (a) AEMC will acquire 141 BC, (b) an area
of mutual interest will be included, (c) AEMC will be eligible to fund exploration by raising flow-through
financing, (d) AEMC will be able to acquire exploration expenditure rebates from the Quebec government
ALASKA ENERGY METALS INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals
Announces Acquisition
Page 5
and(e) AEMC will explore the Angliers project as planned. These statements address future events and
conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause
the actual results, performance, or achievements to be materially different from any future results,
performance, or achievements expressed or implied by the statements. Forward-looking statements speak
only as of the date those statements are made. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from those in the forward-looking
statements. Factors that could cause the actual results to differ materially from those in forward -looking
statements include regulatory actions, market prices, and continued availability of capital and financing,
and general economic, market or business conditions. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or developments may differ materially from those
projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates
and opinions of the Company's management on the date the statements are made. Except as required by
applicable law, the Company assumes no obligation to update or to publicly announce the results of any
change to any forward-looking statement contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions, or changes in other factors affecting the
forward-looking statements. If the Company updates any forward-looking statement(s), no inference should
be drawn that it will make additional updates with respect to those or other forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.