Alaska Energy Metals Provides Corporate Update ON Nikolai Nickel Project, Alaska and Announces Amendment to Restricted Share Plan and Grants of Stock Options and Restricted Share Units
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
NR25-18
LEGAL_47848613.2
ALASKA ENERGY METALS PROVIDES CORPORATE UPDATE ON NIKOLAI
NICKEL PROJECT, ALASKA
AND
ANNOUNCES AMENDMENT TO RESTRICTED SHARE PLAN AND GRANTS OF
STOCK OPTIONS AND RESTRICTED SHARE UNITS
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES-
Highlights:
• First-pass metallurgical testing from Eureka deposit, Nikolai nickel project, Alaska
nearing completion; results anticipated in November 2025
• Eureka Internal “Options Study” nearing completion; will lead to Preliminary
Economic Assessment to be published in 2026
• Continued pursuit of US government grant funding for Nikolai project
• Hydrometallurgical amenability testing to begin on Eureka concentrates
• Incentive stock options and restricted shares units granted
VANCOUVER, BRITISH COLUMBIA, October 17, 2025 – Alaska Energy Metals Corporation
(TSX- V: AEMC, OTCQB: AKEMF) ( “AEMC” or the “Company”) provides the following update
on its activities.
Metallurgical testing has been ongoing at SGS laboratories in Lakefield, Ontario. Various
experimentation with magnetic separation and flotation has been done. A flow sheet has
been established, and a locked cycle test is planned in the coming week. A bulk nickel –
copper – cobalt concentrate will be produced, along with an iron – chromium concentrate.
Further testing will be done to determine whether a separate copper concentrate can be
extracted from the bulk concentrate in order to achieve better payabil ity for copper. It is
expected that results will be published in November 2025.
Corporate Update
RSU and Option Grants
Page 2
Hydrometallurgical amenability testing is also planned. Concentrates produced during
flotation tests over the past months at SGS will be tested by Lifezone to determine whether
metals can be readily and efficiently separated by their proprietary process. This will be
preliminary work and if results are positive more robust tests will be planned for 2026.
Hydrometallurgical processing of metal concentrates fr om the Eureka deposit would allow
production of semi-refined or refined nickel, copper and cobalt on site in Alaska for use in
the US. This is viewed as a positive alternative to smelting at a foreign smelter.
“Options Study”. The Company has been conducting an Options Study on an internal basis
to assess how a mine may be developed at Nikolai, and to give a surficial evaluation of project
economics. The results of the work will not be published, but will lead to a formal Preliminary
Economic Assessment to be carried out in 2026.
US Government Funding. The Company continues to pursue government grant or
investment from the US government. We have noted with interest recent funding being
awarded to other Alaska critical metals projects.
Restricted Share Units and Stock Options.
AEMC announces that the Company’s board of directors have made an amendment to its
fixed restricted share unit plan (the “ Amended RSU Plan ”) to increase the number of
common shares issuable pursuant to the Amended RSU Plan to 17,171,936 common shares.
The Amended RSU Plan is subject to acceptance by the TSX Venture Exchange (the
“Exchange”) and shareholder approval.
The Company further announces that it has granted an aggregate of 5,325,000 stock options
(“Options”) and 9,250,000 restricted share units (“ RSUs”) to certain directors, officers,
consultants and employees of the Company.
Each Option is exercisable for one common share of the Company at an exercise price of
$0.15 per common share for a period of five years from the date of grant. 5,000,000 Options
issued to insiders (“Insiders”) of the Company vest and are conditional upon the Company’s
receipt of disinterested shareholder approval (as discussed herein). 325,000 Options issued
to arms’ length consultants of the Company shall vest immediately. All Options are subject
to the terms of the Company’s option plan (the “Option Plan”).
Corporate Update
RSU and Option Grants
Page 3
The 8,500,000 RSUs issued to Insiders vest at the later of the Company’s receipt of
disinterested shareholder approval or one year from the date of grant. 750,000 RSUs issued
to arms’ length consultants of the Company shall vest on the first anniversary from the date
of Grant. All RSUs are subject to the terms of the Company’s Amended RSU Plan, applicable
securities law hold periods and approval of the Exchange.
Pursuant to the Company’s Option Plan and the Amended RSU Plan, unless disinterested
shareholder approval is obtained, the maximum aggregate number of common shares that
may be reserved for issuance to Insiders of the Company (as a group) pursuant to both of
the Company’s Option Plan and the Amended RSU Plan granted or issued within any twelve
(12) month period may not exceed 10% of the issued and outstanding common shares of
the Company calculated on the date of grant of any RSU or Option (the “ Insider Grant
Limitations”). It is anticipated that the issuance of Options and RSUs to the Insiders of the
Company will result in the Insiders holding securities based compensation representing
approximately 16.2% of the Company’s issued and outstanding common shares as of the
date of grant. Accordingly, the Options and RSUs issued to the Insiders over the Insider Grant
Limitations is conditional upon and subject to the Company obtaining disinterested
shareholder approval for such issuances at the next duly called meeting of the shareholders
of the Company. In the event that the Company does not obtain disinterested shareholder
approval for the issuance of the Options and RSUs to the Insiders over the Insider Grant
Limitations, such Options and RSUs issued to the Insiders over the Insider Grant Limitations
shall be null and void on a pro rata basis for each Insider.
For additional information, 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,
Corporate Update
RSU and Option Grants
Page 4
polymetallic Nikolai Project Eureka deposit containing nickel, copper, cobalt,
chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near
existing transportation 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 confidence 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
Some statements in this news release may contain forward -looking information
(within the meaning of Canadian securities legislation), including, without
limitation statements relating to the Company obtaining disinterested shareholder
approval for the issuance of RSUs and Option over the Insider Grant Limitations,
conducting metallurgical testing, Preliminary Economic Analysis and government grant
funding. 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
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RSU and Option Grants
Page 5
statements do not guarantee 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 but are not limited to uncertainty relating to the estimation of mineral
resources, 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 mater ially 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.