Alaska Energy Metals Announces 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: 26-08

ALASKA ENERGY METALS ANNOUNCES 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, July 23, 2026 – Alaska Energy Metals Corporation (TSX-

V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) announces that it intends to settle up

to USD$360,000 (CAD $510,084) of accrued debt through the issuance of common shares of

the Company (the "Debt Settlement").

Pursuant to the Debt Settlement, the Company intends to issue up to 10,201,680 common

shares of the Company (the "Debt Settlement Shares") at a deemed price of CAD$0.05 per

Debt Settlement Share to certain arms’ length creditors of the Company (the "Creditors").

The issuance of the Debt Settlement Shares to the Creditors is subject to the a cceptance of

the TSX Venture Exchange. All securities issued 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 issue.

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

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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

Certain statements in this news release are “forward-looking statements” which reflect the

Company’s current expectations and projections about future events and financial trends that it

believes might affect its financial condition, results of operations, business strategy, and financial

needs. In some cases, these forward-looking statements can be identified by words or phrases

such as “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”,

“believe”, “estimates”, “predicts” or “likely”, or the negative of these terms, or other similar

expressions intended to identify forward-looking statements. Whether actual results,

performance, or achievements will conform to the Company’s expectations and predictions is

subject to a number of known and unknown risks, uncertainties, assumptions and other factors,

including, without limitation, obtaining regulatory approvals for the Debt Settlement and the

completion of the Debt Settlement. These factors involve various risks and uncertainties that

could cause actual results to differ materially from those anticipated by the Company. Investors

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should not place undue reliance on forward-looking information. Important factors that could

cause actual results to differ materially from the Company’s expectations include actual

exploration results, results of future resource estimates, future metal prices, availability of

capital and financing on acceptable terms, general economic, market or business conditions,

uninsured risks, regulatory changes, defects in title, availability of personnel, materials and

equipment on a timely basis, accidents or equipment breakdowns, delays in receiving

government approvals, unanticipated environmental impacts on operations and costs to remedy

same, and other exploration or other risks detailed herein and from time to time in the filings

made by the Company with securities regulators. The forward-looking information contained

herein is made as of the date of this release. The Company does not undertake any obligation to

update or revise such information, whether as a result of new information, future events, or

otherwise, except as required by applicable securities laws.

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.