Alaska Energy Metals Files Ni 43-101 Technical Report FOR the Eureka Property, Nikolai Nickel Project, Alaska, USA
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: 24-02
ALASKA ENERGY METALS FILES NI 43-101 TECHNICAL
REPORT FOR THE EUREKA PROPERTY, NIKOLAI
NICKEL PROJECT, ALASKA, USA
VANCOUVER, BRITISH COLUMBIA, January 05, 2024 – Alaska Energy Metals Corporation
(TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to announce that
further to its news release on November 20, 2023, it has filed its National Instrument 43-
101 Technical Report, dated January 5, 2024, on SEDAR+ at www.sedarplus.com for its
100% owned Eureka Property, Nikolai Nickel Project in Alaska, USA.
The Independent Mineral Resource Estimate (MRE) and technical report were prepared by
Stantec Consulting Services, Inc. in accordance with National Instrument 43-101
regulations.
Furthermore, AEMC is pleased to announce that it has engaged Stantec Consulting
Services, Inc. to complete an updated MRE for its Eureka Property. The updated MRE will
incorporate the eight diamond drill holes (totaling 4,138 meters) drilled during the
company’s 2023 exploration program and historical drilling, purchased in August 2023, that
fall within a reasonable search distance for estimation and pass data verification
procedures. The work will start immediately.
Alaska Energy Metals President & CEO Gregory Beischer commented: “Based on historical
drilling, we have been able to document over 1.5 billion pounds of nickel in an Inferred Resource.
With the drilling our company executed in summer of 2023, the metal inventory should
significantly increase. We are planning an aggressive drilling program in 2024 to expand the bulk
tonnage resource further, and to explore for high-grade deposits.”
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Files NI 43-101 Technical Report
Page 2
Table 1 – Nikolai Project Maiden Mineral Resource Estimate (MRE)
Effective November 20, 2023
Inferred Mineral Resource Tonnes and Grade
Area Mineralized Zone
NiEq Cutoff Tonnes
Base and Battery Metals PGM and Precious Metals Total
Ni Cu Co Pt Pd Au Ni
Eq*
(%) (MT) (%) (%) (%) (g/T) (g/T) (g/T) (%)
Eureka East Eureka Zone 2 (EZ2) >= 0.200 88.6 0.24 0.08 0.02 0.056 0.124 0.012 0.35
Eureka West
Eureka Zone 2 (EZ2) >= 0.200 182.8 0.21 0.05 0.02 0.036 0.071 0.013 0.28
Eureka Zone 3 (EZ3) >= 0.200 48.2 0.23 0.02 0.01 0.031 0.021 0.004 0.27
Total EZ2 + EZ2 + EZ3 >= 0.200 319.6 0.22 0.05 0.02 0.041 0.078 0.012 0.30
Inferred Mineral Resource Tonnes and Metal Content
Area Mineralized Zone
NiEq Cutoff Tonnag
e
Base and Battery Metals PGM and Precious Metals Total
Ni Cu Co Pt Pd Au Ni
Eq*
(%) (MT) (Mlbs) (Mlbs) (Mlbs
) (tOz) (tOz) (tOz) (Mlbs
)
Eureka East Eureka Zone 2 (EZ2) >= 0.200 88.6 471 165 34 160,373 353,993 34,359 676
Eureka West
Eureka Zone 2 (EZ2) >= 0.200 182.8 841 189 65 210,018 415,335 79,036 1,135
Eureka Zone 3 (EZ3) >= 0.200 48.2 240 19 16 48,816 32,694 6,495 287
Total EZ2 + EZ2 + EZ3 >= 0.200 319.6 1,552 373 115 419,138 802,003 119,915 2,098
● CIM definitions are followed for classification of Mineral Resource.
● Base case cutoff grade is 0.20% Ni calculated from a Ni price of US$23,946/tonne (US$10.9 US$/lb), surface mining cost of
US$2.50 per tonne, and processing costs US$25.00 per tonne.
● Mineral Resource are reported from within an economic pit shell whose extent has been estimated using a Ni price of
US$23,946/tonne (US$10.9 US$/lb) and mining cost of US$2.50 per tonne, from a Ni equivalent grade calculated from Ni,
Cu, Co, Pt, Pd, and Au, Ni recovery of 60% and 50% for other metals, fixed density of 2.80- and 45-degree constant slope
angle.
● Equivalent grade formula is Ni EQ = Ni/1 + Cu/2.7309 + Co/0.5321 + Pt/0.0008 + Pd/0.0004 + Au/0.0004
● Metal pricing used to calculate Ni EQ is based on observation of monthly metal pricing for the past 24 months up to end-
October 2023 with Ni at US$23,946/tonne (US$10.9/lb) (World Bank), Cu at US$ 8,768/tonne ($US4.0/lb) (World Bank), Co
45,000 US$/tonne (US24/lb) (Trading Economics), Pt at US$970/toz (World Bank), Pd at US$1,700/toz (Kitco), and Au at 1,855
(World Bank). Totals may not represent the sum of the parts due to rounding.
● The Mineral Resource estimate has been prepared by Derek Loveday, P. Geo. of Stantec Consulting Services Inc. in
conformity with CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices” guidelines and is reported in
accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves and do not
have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral
reserve.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Files NI 43-101 Technical Report
Page 3
QUALIFIED PERSON
Mr. Derek Loveday, P. Geo. of Stantec Consulting Services Inc. is the independent Qualified
Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects, and has prepared, or supervised the preparation of, or has reviewed and
approved, the scientific and technical data pertaining to the MRE and technical report. Mr.
Loveday declares he has read this press release and that the scientific and technical
information relating to the resource estimate are correct.
Gabriel Graf, the Company’s Chief Geoscientist, is the qualified person, as defined under
National Instrument 43-101 guidelines, who reviewed and approved the preparation of the
technical information 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. Located in central Alaska, the Nikolai Nickel project is located near
existing transportation and power infrastructure, the project is well-situated to become a
significant, domestic source of critical and strategic energy-related metals for the American
market. The Company is also exploring the Angliers Nickel 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
Sarah Mawji, Public Relations
Final Edit Media and Public Relations
Email: [email protected]
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Files NI 43-101 Technical Report
Page 4
Some statements in this news release may contain forward-looking information (within the
meaning of Canadian securities legislation), including, without limitation, that the Company (a)
complete an updated resource calculation, and b) execute further drilling in 2024. 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 are not
guaranteeing 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.
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.