Alaska Energy Metals Provides Corporate Update
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: 24-04
ALASKA ENERGY METALS
PROVIDES CORPORATE UPDATE
VANCOUVER, BRITISH COLUMBIA, January 30, 2024 – Alaska Energy Metals
Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to
provide a corporate update that highlights the accomplishments made since
inception in April 2023 and looks ahead to 2024 plans.
Alaska Energy Metals Corporation President & CEO Gregory Beischer commented: “I
am very proud of what we have accomplished in just 10 months. We’ve successfully
rebranded and recapitalized the Company; no small feat given challenging market
conditions. For our Nikolai Nickel project in Alaska, we purchased a large database of
historical information, calculated a significant maiden nickel resource, and identified drill
targets to test for high-grade mineralization. With all our 2023 drill results now in hand,
we will soon publish an updated Mineral Resource Estimate for the Eureka Zone and will
receive bench-scale metallurgical test results. With an aggressive drilling program planned
at Nikolai in 2024, we believe we will significantly expand the Nikolai Project’s metal
inventory. Last year, we also purchased a company that owns a Quebec nickel project,
which came with $2.8 million in cash. We have assembled a very strong team and are now
executing a comprehensive market awareness program to position us for the next phase
of the Company’s growth.”
Company Progress:
• Renamed and refocused the company as a nickel explorer centered around
two key projects in North America: the flagship Nikolai Nickel project in Alaska,
USA, and a secondary project in Quebec, Canada.
• With the assistance of a strong capital markets group, brought in more than
$15 million into the Company treasury during very challenging market
conditions.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
AEMC Provides Corporate Update
Page 2
• Purchased an extensive database of exploration information at a bargain
price, then recovered a portion of the cost by selling some of the information
to a neighbouring claim owner. The dataset, created by prior workers from
1995 to 2012, contains geological, geochemical, geophysical, and drilling
information costing tens of millions of dollars. This purchase allowed the
Company to accelerate its exploration objectives at very low cost.
• Drill hole information in the purchased database allowed the Company to
calculate a maiden Inferred Resource. To date, two deposits situated
approximately two kilometers (1.4 miles) apart are included in the Mineral
Resource Estimate (Nikolai Mineral Estimate Technical Report – Document No.
RPT 23706-0001. January 5, 2024, Stantec Consulting Services Inc.). Together
the deposits contain more than 680,000 tonnes (1.5 billion pounds) of nickel
with accessory copper, cobalt, chrome, iron, platinum, palladium, and gold.
The Company considers this Mineral Estimate to be current. Please refer to
the press releases dated November 20, 2023 and January 5, 2024.
• Safely and efficiently executed a drilling program consisting of eight diamond
drill holes totaling 4,138 meters (13,576 feet) of core at the Eureka Zone of the
Nikolai project. The Company has published results that show strike continuity
of 1.2 kilometers (3,900 feet) of a mineralized zone ranging between 200
meters (650 feet) to more than 300 meters (980 feet) true width. Assay results
indicate a consistent and homogenous grade of about 0.34% nickel equivalent
metal. The Eureka Zone is open in all directions and historical drilling and
sampling indicates the potential for the zone to extend 12 kilometers (7.5
miles) or more.
• Performed specialized geophysical surveys to successfully identify high -
priority drill targets at the Canwell block of the Nikolai project where high
grades of nickel, copper and platinum group elements were sampled at
surface.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
AEMC Provides Corporate Update
Page 3
Looking Forward:
In 2024, we look forward to the following:
• We plan to calculate and publish, through a third -party, industry-leading,
independent mining consulting firm, an update to the Mineral Resource
Estimate that includes information from the AEMC 2023 drill program. We aim
to publish the update in Q1 2024.
• Drill core samples have been submitted for metal deportment studies to
determine the mineral species in which the various metals in the Eureka zone
are contained. Deportment will have a strong bearing on metal recovery rates.
Results are expected in Q1 2024.
• After deportment studies are complete, the samples will be subjected to
bench-scale flotation testing to determine recovery rates for the metals.
Results are expected in Q2 2024.
• We have built a strong marketing team that will work to increase market
awareness of the Company around the world , so that we can maximize
shareholder returns as we advance Company objectives.
• We intend to raise funds through equity financing to execute an aggressive
drilling program designed to significantly expand the Mineral Resource
Inventory of the Eureka Zone and to explore for high grade nickel
mineralization at the Canwell Block of the Nikolai project.
• Plans are being made to begin exploration at 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
AEMC Provides Corporate Update
Page 4
Investor Relations and Market Awareness:
Further to the Company’s news release dated January 23, 2024, the Company clarifies
with respect to the renewal of its marketing engagement of Gold Standard Media,
LLC (“Gold Standard”), that the affiliates of Gold Standard’s share position in AEMC
was inadvertently incorrectly stated. The affiliates of Gold Standard currently own
4,285,582 AEMC Shares. In addition, the engagement of Triomphe Holdings Ltd. dba
Capital Analytica (“Capital Analytica”) is for an initial term of three months with the
possibility of renewing for an additional three-month term on the same terms as the
initial term, not an initial six-month term with a six-month renewal option. For more
information on these marketing engagements, please refer to the Company’s news
release dated January 23, 2024.
Stock Option Grant:
The Company’s Board of Directors has approved a grant of stock options to officers,
directors, employees and consultants. In total 3,175,000 options are to be granted
with a strike price equal to the market closing price on January 30, 2024. The stock
options will have a term of five years.
Qualified Person
Gregory Beischer, the Company’s president and chief executive officer, is the
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/
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
AEMC Provides Corporate Update
Page 5
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-Belleterre 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]
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 publish a resource update, b) receive and publish deportment and bench scale
metallurgy tests, (c) raise equity financing and (d) carry out further exploration and
drilling, (e) obtain TSX-V approval for the marketing and investor awareness engagements,
and (f) grant stock options. 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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
AEMC Provides Corporate Update
Page 6
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.
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.