Alaska Energy Metals Amends Canwell Option Agreement to Eliminate Work Commitment, Nikolai Project, Alaska
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
NR: 25-12
ALASKA ENERGY METALS AMENDS CANWELL OPTION
AGREEMENT TO ELIMINATE WORK COMMITMENT, NIKOLAI
PROJECT, ALASKA
Highlights:
Alaska Energy Metals has amended the Option Agreement with the owner of the
Canwell claim block which forms a part of the Nikolai Nickel project in Alaska.
o In return for issuing two million AEMC shares to the owner, the option
agreement will be amended such that:
The remaining US$1.9M in exploration expenditures is eliminated,
and
The final option payment of US$150,000 is deferred until September
1, 2026.
The amended agreement gives the Company a clear path to 100% ownership of this
important claim block where very high-grade nickel, copper and platinum group
elements have been discovered at surface.
VANCOUVER, BRITISH COLUMBIA, August 19, 2025 – Alaska Energy Metals Corporation
(TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to announce that it
has signed an amendment to the Option Agreement concerning the Canwell claim block
which forms an important part of the Company’s Nikolai Nickel project in Alaska. The
Option Agreement was originally executed on February 14, 2022 with the following
schedule of payments:
• Pay US$25,000 upon signing (paid);
• Issue 100,000 shares upon signing ;
• Pay US$25,000 by June 1, 2022 (paid);
• Pay US$75,000 by September 1, 2022 (paid);
• Issue 100,000 shares by September 1, 2022 ;
• Incur US$50,000 in exploration expenditures by September 1, 2022 (incurred);
• Pay US$100,000 by September 1, 2023 (paid);
• Issue 1,000,000 shares by September 1, 2023 ;
• Incur US$250,000 in exploration expenditures by September 1, 2023 (incurred);
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Nikolai Project, Alaska
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• Pay US$125,000 by September 1, 2024 (paid);
• Issue 1,000,000 shares by September 1, 2024 ;
• Incur US$1,000,000 in exploration expenditures by September 1, 2024 (incurred with
excess expenditures carried forward);
• Pay US$150,000 by September 1, 2025;
• Issue 1,000,000 shares by September 1, 2025;
• Incur US$1,500,000 in exploration expenditures by September 1, 2025 (incurred)
• Incur US$2,200,000 in exploration expenditures by September 1, 2026 (partially incurred
through excess expenditure carry forward.
The agreement amendment, subject to approval by the TSX Venture Exchange, eliminates
the remaining US$1.9M of required exploration expenditures and defers the final cash
option payment of US$150,000 (subject to inflation adjustment) until September 1, 2026. As
consideration for the changes, AEMC will issue to the owner two million shares of AEMC,
along with one million shares of AEMC that are otherwise due per the original agreement
on September 1, 2025.
AEMC President & CEO Gregory Beischer commented: “The Canwell claim block hosts some
exceptionally rich surface occurrences of nickel and copper sulfide, with remarkably high
platinum group element enrichment. Even the rare platinum group elements like osmium and
iridium and rhodium are present. We are glad to have been able to find a way to eliminate the
onerous exploration work requirement needed to achieve a 100% interest in this important
group of claims. The Company intends to continue systematic exploration work on the claims as
market conditions allow.”
The Canwell claim block is separate from the main Eureka claim block on which AEMC has
discovered a large, disseminated polymetallic nickel deposit containing multiple critical
minerals. The Canwell claims are situated 80 kilometers south of the town of Delta Junction
and are readily accessed by the Richardson Highway in Interior Alaska. The map shown
below depicts the Eureka and Canwell claims blocks.
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Nikolai Project, Alaska
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For additional information, visit: https://alaskaenergymetals.com/
ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in
Anchorage and Vancouver working to sustainably deliver the critical materials needed for
national security and a bright energy future, while generating superior returns for
shareholders.
AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic
Nikolai Project Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum,
palladium, and gold. Located in Interior Alaska near existing transportation and power
infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic
source of strategic metals for North America. AEMC also holds a secondary project in
western Quebec; the Angliers – Belleterre project. Today, material sourcing demands
excellence in environmental performance, technological innovation, carbon mitigation and
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Nikolai Project, Alaska
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the responsible management of human and financial capital. AEMC works every day to
earn and maintain the respect and confidence of the public and believes that ESG
performance is measured by action and led from the top.
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: 604-609-7149
Some statements in this news release may contain forward-looking information (within the
meaning of Canadian securities legislation), including, without limitation, that the Company will
carry out further exploration work at the Canwell project, and proceed to exercise the option on
Canwell to own 100%. 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 do not guarantee 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 but are not
limited to uncertainty relating to the estimation of mineral resources, 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
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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.