ALASKA ENERGY METALS PROVIDES UPDATE NIKOLAI NICKEL PROJECT, ALASKA Permitting – Metallurgy – Government Collaboration
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
NR: 26-05
LEGAL_48538203.1
ALASKA ENERGY METALS PROVIDES UPDATE
NIKOLAI NICKEL PROJECT, ALASKA
Permitting – Metallurgy – Government Collaboration
HIGHLIGHTS
• Fast-41 permitting of the existing Rainy Creek Mining Road improvement and
extension are on track and moving forward . Permit issuance is expected in late
summer 2026, paving the way for significantly reduced drilling program costs.
• Metallurgical work continues with focus on metal recovery and concentrate
grade. Sequential flotation of copper and nickel with pyrrhotite suppression is being
investigated.
• US Government - The Company recently participated in a new call for Defense
Production Act Title III project funding through a new Department of War Defense
Industrial Base Consortium offering. The proposal was recently qualified as “MET”
(having met all minimum qualifications for further consideration).
• AEMC will soon own a 100% interest in the Canwell claim block of the Nikolai
project that is known to host very high -grade nickel occurrences. Per the underlying
option agreement, the Company has notified the owners that it intends to make final
option payment.
VANCOUVER, BRITISH COLUMBIA, May 14, 2026 – Alaska Energy Metals Corporation (TSX-
V: AEMC, OTCQB: AKEMF) (“ AEMC” or the “ Company”) is pleased to provide the following
corporate update outlining recent activities for the Nikolai Nickel Project, Alaska.
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
AEMC Corporate Update
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FAST-41 Permitting. In November 2025 AEMC’s Nikolai Nickel project was accepted for
coverage under the FAST-41 Transparency Dashboard (“Dashboard”) by the Federal
Permitting Improvement Steering Council (“Permitting Council” or “Council”). An
Environmental Assessment (“EA”) is to be completed by the agencies with US Army Corp of
Engineers (“USACE” or “Corps”) as the lead coordinating agency. The Transparency
Dashboard listing is intended to focus initially on infrastructure improvements supporting
Nikolai, beginning with the rehabilitation and extension of the existing Rainy Creek Mining
Trail, including installation of two temporary bridges, and an on-site camp.
Subsequent to the listing, the USACE determined that a Section 404 Clean Water Permit
would be required following an Environmental Assessment. The Bureau of Land
Management (“BLM”) was also identified as a US federal agency that would have
responsibility to review the project and if appropriate, to grant a Right of Way (“ROW”).
That ROW application has been filed and accepted by the BLM Field Office in Glennallen,
Alaska. In accordance with the Fast-41 process, a schedule was determined amongst the
Permitting Council, USACE and BLM and published on the Dashboard. Public comments for
the road project were solicited by USACE. The comment period closed on February 27,
2026. AEMC is scheduled to carry out wetlands mapping and an archaeological survey in
summer 2026. USACE and BLM are subsequently scheduled to complete their review by
late August 2026. While not part of the FAST-41 permitting process, State of Alaska
agencies also have regulatory authority and must provide authorizations in order for the
federal agencies to issue permits. AEMC is working with the State’s Large Mine Permitting
Team within the Office of Project Management and Permitting (“OPMP”) for authorizations
and permits that are to be issued by the State. Late last year, OPMP and the Governor of
Alaska signed a Memorandum of Understanding with the Permitting Council to maximize
coordination between State regulatory agencies and the Fast-41 program to reduce
permitting timelines.
Metallurgical work. AEMC, along with its consultants and SGS Laboratories in Quebec City,
Canada has been performing various tests to determine the best flowsheet for recovery of
metals from the Eureka deposit. Work to date shows that a bulk concentrate containing
nickel sulfide (predominantly pentlandite), copper sulfide (predominantly chalcopyrite) and
cobalt sulfide with platinum group metals can be produced. An iron – chrome concentrate
can also be produced. Some of the nickel in the deposit is in the form of the iron – nickel
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
AEMC Corporate Update
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alloy awaruite, some of which partitions to the magnetic concentrate and must subsequently
be cleaned from it. Sequential flotation of copper and nickel with pyrrhotite suppression is
also being investigated to 1) generate a cleaner, higher grade nickel concentrate, and 2)
realize higher payability on copper . The work is ongoing and the Company anticipates
publishing results in the coming months. AEMC is also preparing to assess
hydrometallurgical recovery methods which have shown great success in the separation and
recovery of high value metals from lower-grade disseminated sulfide ores like those found
at Eureka. This technology could be particularly applicable for the Nikolai Project.
.
US Government Funding. AEMC continues to engage the Administration and key
Government agencies on opportunities for coordinated participation in its critical minerals
strategy through strategic funding, stakeholder inclusion and policy programs that
incentivize domestic production and resilient s upply chains. Recently, through the
Department of War Defense Industrial Base Consortium (“DIBC”) (of which AEMC is a
member company), solicited a new call for projects to be considered for Defense Production
Act Title III project funding. AEMC timely submitted its Nikolai project proposal. The proposal
has received a “MET” rating with detailed proposals for projects in this category expected to
be requested as early as May 2026.
Canwell Block Option. The Canwell claim block forms an important part of the Nikolai
Project. Very high-grade nickel copper mineralization has been discovered at surface, and
the sulfide mineralization is enriched in platinum group metals. A series of drill targets has
been developed on the block based upon geophysical data, surface sampling and mapping.
One final cash option payment of US$150,000 (plus inflation adjustment) will be made to
the underlying owners in August 2026, securing AEMC’s 100% ownership of the Canwell
block. Pursuant to the option agreement, AEMC has advised the owners of its intention to
make the payment. The Canwell claim block is shown in the following diagram.
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
AEMC Corporate Update
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QUALIFIED PERSON
Gregory Beischer, the Company’s President & CEO, 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/
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
U.S. national security and a bright energy future, all while generating superior returns for
shareholders.
AEMC is focused on delineating and developing the large -scale, bulk tonnage, polymetallic
Nikolai Project and related 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
T M T M
alas aener y etals co
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Two separate State of Alaska mining
claim blocks.
ure a lai loc 0 mining
claims covering , 0 acres or
, hectares owned outright.
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claims covering , 0 acres or , 20
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istorical mining road within 5 km
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Adjacent claim owners are Kobold
and esolution.
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
AEMC Corporate Update
Page 5
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domestic source of strategic metals for North America. In January 202 , AEMC’s Nikolai
Project was accepted for Fast -41 Transparency Dashboard listing to streamline federal
permitting for overland access and man camp placement for the next phase of Eureka
deposit drilling. 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 environmental, social and governance
performance is measured by action and led from the top.
ON BEHALF OF THE BOARD
“G g B h ”
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) . 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 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 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
ALASKA ENERGY METALS CORP. | Suite 300 – 1055 West Hastings St. | Vancouver, BC V6E 2E9
Direct: 604 609 7149 | Toll-Free: 877 217 8978 | www.alaskaenergymetals.com
AEMC Corporate Update
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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.