Alaska Energy Metals Announces Closing of Shares FOR Debt Settlement

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: 26-09

ALASKA ENERGY METALS ANNOUNCES CLOSING OF SHARES

FOR DEBT SETTLEMENT

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,

DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR

INTO THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA, August 10, 2026 – Alaska Energy Metals Corporation

(TSX-V: AEMC, OTCQB: AKEMF) (“ AEMC” or the “Company”) is pleased to announce, further

to its news release of July 23, 2026 , that it has issued 10,201,680 common shares in the

capital of the Company (the “Shares”) at a deemed price of $0.05 per Share to certain arm’s

length creditors (the “Creditors”) in settlement of debt in the amount of CAD$510,084 (US

$360,000) (the “Shares for Debt Settlement”) for services provided to the Company by the

Creditors.

All the Shares to be issued in connection with the Shares for Debt Settlement will be subject

to a four month hold period which will expire on the date that is four months and one day

from the date of issu ance, in accordance with applicable securities legislation and the

policies of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any

of the securities described in this news release in the United States or any other jurisdiction

in which such offer, solicitation or sale would be unlawful. Suc h securities have not been,

and will not be, registered under the United States Securities Act of 1933, as amended (the

“U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or

sold in the United States or to, or for the account or benefit of, “U.S. persons” (as those terms

are defined in Regulation S under the U.S. Securities Act) absent registration or an applicable

exemption from the registration requirements of the U.S. Securities Act and applicable state

securities laws.

For additional information, visit: https://alaskaenergymetals.com/

ABOUT ALASKA ENERGY METALS

Shares for Debt

Page 2

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 transportati on 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 the

responsible management of human and financial capital. AEMC works every day to earn and

maintain the respect and confide nce 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

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.