Alaska Energy Metals Closes Acquisition of the Angliers-Belleterre Project IN Quebec
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
NR: 23-20
ALASKA ENERGY METALS
CLOSES ACQUISITION OF THE
ANGLIERS-BELLETERRE PROJECT IN QUEBEC
Highlights:
• Alaska Energy Metals Corporation has closed its previously announced acquisition
to acquire 100% of the issued and outstanding securities of 1413336 B.C. Ltd., the
owner of the Angliers-Belleterre nickel-copper project in western Quebec.
• The TSX Venture Exchange has granted conditional approval and has granted the
Company permission for the completion of this acquisition.
• The target company’s 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.
VANCOUVER, BRITISH COLUMBIA, November 24, 2023 – Alaska Energy Metals Corporation
(TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or “the Company”) is pleased to announce it has
closed its previously announced acquisition to acquire 100% of the issued and outstanding
securities of 1413336 BC Ltd. (“141 BC”). The acquisition of 141 BC was effected through a
Share Exchange Agreement between the Company, 141 BC, and the security holders of 141
BC dated November 7, 2023 (the “Agreement”). 141 BC is Arm’s Length to the Company, and
its assets are comprised of the Angliers-Belleterre nickel-copper project (the “Angliers
project”) in western Quebec and approximately $2.8 million in cash.
In consideration for the acquisition of 100% of the issued and outstanding securities of 141
BC, AEMC has issued a total of 31,827,720 AEMC shares (the “Consideration Shares”) and
4,105,958 AEMC warrants to the security holders of 141 BC on a one to one (1:1) basis for
ALASKA ENERGY METALS CORP. | 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
their existing shares and warrants of 141 BC. The deemed price of the Consideration Shares
is $0.315 per share.
24,000,001 of the Consideration Shares are subject to a three-year escrow hold period, with
10% of the escrowed securities being releasable at the time of the Final TSX-V Bulletin, and
15% of the escrowed securities being releasable every six months thereafter until released
in full.
7,827,719 of the Consideration Shares are subject to a 60-day contractual hold period.
The warrants will be exercisable at $0.80 for a period of two years from the date of issuance.
No finder’s fees are payable for this transaction.
The parties have agreed to an area of mutual interest for a term of five years covering three
kilometres of the outer boundaries of the Angliers project.
Management believes that 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.
Alaska Energy Metals President & CEO Gregory Beischer commented: “This is an area with
which I am highly familiar, having studied it while stationed in Quebec in the late 1990s during my
first career with INCO, which at the time was the largest nickel producer globally. We were
attracted by the ultramafic flow rocks 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 Company has received conditional approval from the TSX Venture Exchange (the
“TSX-V”) to complete this acquisition and has been permitted to close the acquisition in
return for the Company’s undertaking that it will not post the National Instrument 43-101
Technical Report conducted on the Angliers Project on SEDAR+ until all remaining TS X-V
comments have been resolved.
ALASKA ENERGY METALS CORP. | 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
The property is subject to a 2.5% net smelter returns production royalty that can be reduced
to 1.5% by paying the royalty holders $1.5 million.
Angliers Property
The Angliers property is large, consisting of 454 claims covering 24,182.64 hectares. 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 of the claim block. 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 CORP. | 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
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 north 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 141BC.
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.
ALASKA ENERGY METALS CORP. | 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
In addition to magmatic nickel-copper deposits, the Angliers property is also prospective for
gold and polymetallic volcanogenic massive sulfide deposits.
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 th e 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. It’s main projected, 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. The Company is
now bringing forward the Angliers – Belleterre project in Quebec.
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
ALASKA ENERGY METALS CORP. | 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 6
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 be
eligible to fund exploration by raising flow-through financing or that it will be relatively less
expensive than other financing options, (b) AEMC will be able to acquire exploration expenditure
rebates from the Quebec government (c) AEMC will explore the Angliers project as planned, and
(d) all outstanding TSX-V comments to the National Instrument 43-101 Technical Report will be
resolved as anticipated. 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 materia lly 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 for ward-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.
ALASKA ENERGY METALS CORP. | 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 7
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.