Alaska Energy Metals Extends Eureka Zone Mineralization 1.8 Kilometers to the Southeast, Nikolai Project, Alaska
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
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ALASKA ENERGY METALS EXTENDS EUREKA ZONE
MINERALIZATION 1.8 KILOMETERS TO THE
SOUTHEAST, NIKOLAI PROJECT, ALASKA
HIGHLIGHTS
• Alaska Energy Metals received assay results from the remaining two drill holes
completed during the 2024 Eureka resource expansion exploration program.
• The drill program has successfully extended the Eureka deposit by 1.8 kilometers
(km). The drilled extent of the deposit is now approximately 5.5 km. The deposit
features nickel as the primary commodity but has multiple critical metals – copper,
cobalt, chromium, platinum, and palladium.
• It is anticipated that the summer drill program will add significant tonnage and
metal content to the existing Mineral Resource Estimate (MRE). The Company plans
to publish an updated MRE and metallurgical results in the first quarter of 2025.
• Significant estimated true thicknesses of polymetallic mineralization were
intersected in the final two holes of the program, including:
o EZ-24-012 – 330.9 meters @ 0.28% nickel equivalent (NiEq) (0.20% Ni, 0.07%
Cu, 0.015% Co, 0.085 ppm Pd, 0.036 ppm Pt and 0.012 ppm Au), plus 0.28% Cr,
9.49% Fe
o EZ-24-011 – 107.5 meters @ 0.29% NiEq (0.22% Ni, 0.05% Cu, 0.017% Co,
0.055 ppm Pd, 0.028 ppm Pt and 0.008 ppm Au), plus 0.27% Cr and 10.10% Fe
Alaska Energy Metals Chief Geologist Gabe Graf commented: “Now, with all 2024 results
received from our Eureka resource expansion drill program, we can work to calculate an update
to our MRE and anticipate producing this update in the first quarter of 2025. This is an exciting
time for us, and we look forward to sharing the updated MRE with all our stakeholders. In light
of recent alterations to the US minerals supply chain, made by China’s recent export ban of
several critical minerals, this point in time remains crucial. Trade relations with China are
uncertain, and should we face another more disruptive mineral ban, it could further stunt
economic growth and development and even compromise national security. Thus, we remain
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
Page 2
steadfast in our efforts to uncover a domestic supply of nickel, cobalt, chromium, and other
critical and energy-related metals essential to a growing number of strategic industries to ensure
access to materials of great importance for the long haul.”
VANCOUVER, BRITISH COLUMBIA, December 10, 2024 – Alaska Energy Metals
Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to
announce assay results from the remaining two drill holes completed at the Eureka
Deposit. The holes were drilled as part of the Company’s 2024 Eureka resource expansion
drill program at its 100% owned Nikolai Project in Interior Alaska (Figure 1). Four diamond
drill holes, totaling 1,597.6 meters (m) were drilled during the exploration campaign (Table
1). Assay results for EZ-24-009 & EZ-24-010 can be found in AEMC’s press release
dated December 3rd, 2024.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
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Figure 1. Nikolai Project - Property Location Map
SUMMARY
• These results demonstrate that the Eureka Zone remains consistent and
homogeneous along strike.
• The results have confirmed mineralization continuity along a 1.8 km strike length to
the southeast of the current MRE (Nikolai Mineral Resource Estimate Technical
Report Amended and Updated, Derek Loveday and Allan Schappert, April 12th,
2024) and should result in a significant expansion of the Eureka Deposit’s inferred
resources.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
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Table 1. Drill locations, azimuth, and total depth for 2024 Eureka Resource Expansion Drilling
Figure 2. Drill hole location map showing estimated true thicknesses, calculated NiEq grades, and 2024
MRE block model. Fe and Cr are not included in NiEq calculations. PNI drill assay results were reported by
Pure Nickel Inc. in a press release dated October 29th, 2013. The Company’s Qualified Person has
independently verified the assay data reported by Pure Nickel Inc. and has determined the quality
assurance and quality control data to be acceptable.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
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HOLE EZ-24-011 SUMMARY
• EZ-24-011 was drilled ~650 meters to the southeast of PNI-11-038 to verify the near-
surface extension of the Lower Eureka Zone 2 from the 2024 MRE.
• The hole drilled into 10.4 m of overburden and then into the mineralized Eureka Zone
peridotite from 10.4 m to 126.1 m. The hole intersected the mineralized Lower Eureka
Zone 2. The Upper and Core Eureka Zone 2 were not intersected in the hole due to
the hole being collared to the north of these zones.
o 113.0 m (107.5 m estimated true thickness) @ 0.29% NiEq (0.22% Ni, 0.05%
Cu, 0.017% Co, 0.055 ppm Pd, 0.028 ppm Pt and 0.008 ppm Au), plus 0.27% Cr
and 10.10% Fe (Table 2 and Figure 3).
• The partial intersection of the main mineralized zone was hosted within a pervasively
serpentinized peridotite, with varying amounts of disseminated sulfides, with up to
4% disseminated sulfides. Grades and sulfide abundance within the main mineralized
zone decrease near the contact with a pyroxenite and wehrlite intrusive rock phase
from 126.1 m to 191.7 m.
• The Eureka Zone 3 peridotite was intersected from 191.7m to 266.7m (EOH). This
zone assayed:
o 75.0 m (71.3 m estimated true thickness) @ 0.23% NiEq (0.18% Ni, 0.02%
Cu, 0.016% Co, 0.020 ppm Pd, 0.035 ppm Pt and 0.006 ppm Au), plus 0.51% Cr
and 10.73% Fe (Table 3 and Figure 3).
• The mineralization is currently open in all directions.
HOLE EZ-24-012 SUMMARY
• EZ-24-012 was drilled an equidistant (~500 m) between PNI-13-073 and PNI-13-074
to verify the continuation of the Eureka Zone mineralization and to test the entire
thickness of the mineralization.
• EZ-24-012 drilled into 12.1 m of overburden and into a weakly mineralized pyroxenite
from 12.1 m to 19.6 m. The main mineralized Eureka zone was intersected from 18.1
m to 371.9 m downhole, with assays grading:
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
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o 353.8 m (330.9 m estimated true thickness) @ 0.28% NiEq (0.20% Ni, 0.07%
Cu, 0.015% Co, 0.085 g/t Pd, 0.036 g/t Pt and 0.012 g/t Au), plus 0.28% Cr,
9.49% Fe (Table 3 and Figure 3).
• The main mineralized zone was hosted within a pervasively serpentinized peridotite,
with varying amounts of disseminated sulfides, with up to 10% disseminated sulfides
within the Core Eureka Zone. Grades and sulfide abundance within the main
mineralized zone decrease near the contact with a pyroxenite and wehrlite intrusive
rock phase from 384.4 m to 440.4 m (EOH).
• The mineralization is currently open in all directions.
Table 2. Significant Intersections from EZ-24-011 & EZ-24-012
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
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Figure 3. Cross section through EZ-24-011 and EZ-24-012.
Location of section line A-A’ displayed on Figure 2.
CORE PROCESSING & QUALITY ASSURANCE AND QUALITY CONTROL (QA/QC):
AEMC adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards for its
Nikolai Project to ensure the best practices for logging, sampling, and analysis of samples.
For every 10 core samples, geochemical blanks, coarse reject or pulp duplicates, or Ni-Cu-
PGE-Au certified reference material standards (CRMs) were inserted into the sample
stream.
Drill core was flown by helicopter daily from drill sites and transported in secured wooden
core boxes to the core logging facilities at the Maclaren River Lodge, Alaska. Logged drill
core and sample data were captured on tablets using MX Deposit software. Samples were
labeled by geologists and sawn in half with a diamond blade, with half being inserted into a
labeled, bar-coded sample bag. The other half of the core was returned to the wooden
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 609 7194 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Eureka Drill Results
Page 8
boxes and archived at a secure facility. Samples were transported to SGS Laboratories
(SGS) in Burnaby, B.C., using a contracted transportation carrier.
Once samples were received at the SGS, they were weighed, dried, and crushed to 75%
passing 2mm. The samples were riffle split and pulverized to 85%, passing 75 microns. The
samples are pulverized in a zirconia bowl to prevent the contamination of Fe and Cr. Au, Pt,
& Pd were analyzed by fire assay with ICP-AES finish (GE_FAI30V5). Ag was analyzed using a
4-acid digest with AAS finish (GE_AAS42E50). The remaining 30 elements were analyzed
using sodium peroxide fusion with ICP-AES finish (GE_ICP90A50).
Geologic interpretations presented in this news release have been completed by AEMC
personnel and may be revised with additional geologic information. The drill intercepts in
this press release were calculated by AEMC personnel as nickel equivalent for convenience
in representing the polymetallic mineralization.
QUALIFIED PERSON
Gabriel Graf, the Company’s Chief Geoscientist, is the qualified person, as defined under
National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for
reviewing and approving the technical information contained in this news release.
For additional information, please 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,
multi-critical Eureka deposit containing five materials designated by the US Government as
critical minerals: nickel, cobalt, chromium, platinum, and palladium — and copper, a
Department of Energy Critical Material, plus iron and gold. Four of the deposit’s metals are