Alaska Silver Announces New High-Grade Discovery Zone: Silver Sage
Alaska Silver Announces New High-Grade
Discovery Zone: Silver Sage
Tucson, Arizona--(Newsfile Corp. - November 3, 2025) - Alaska Silver Corp. (TSXV: WAM) (OTCQX:
WAMFF) (the "Company," "Alaska Silver" or "WAM") is pleased to announce the discovery of a new
high-grade mineralized zone, named
Silver Sage,
on its 100% owned Illinois Creek ("IC") Carbonate
Replacement Deposit ("CRD") project in western Alaska.
The Silver Sage zone represents a significant exploration breakthrough, located 4.8km south of the
Waterpump Creek resource. The discovery has been confirmed through surface trenching, pit sampling,
and initial drilling. Drill hole results will be discussed when assay results are received and reviewed.
Discovery Highlights:
New high-grade zone identified:
Early work confirms Silver Sage as a promising mineralized
system with near-surface samples running:
1,235 g/t silver ("Ag") with 65% lead ("Pb"); and
1,135 g/t Ag with 73% Pb.
Extensive surface exploration completed:
8 trenches, all of which contained mineralization and/or alteration
Over 100 excavator pits
Initial drilling completed:
9 preliminary drill holes totaling 906.5 meters designed to define stratigraphy and alteration
in the zone
District-scale potential
: Newly discovered manifestation of a major CRD system
"The discovery of Silver Sage marks a major step forward for Alaska Silver. Early indications of high-
grade mineralization, combined with the scale of this brand-new surface expression within the Illinois
Creek system, reinforce our belief that the Illinois Creek project hosts a large, district-scale CRD
system. We're excited by the potential this new zone represents and look forward to sharing assay
results as they become available."
- Kit Marrs, CEO of Alaska Silver Corp.
"I am not surprised that a new mineralization zone has been found at Illinois Creek - it is an extensive
CRD system, and these typically have numerous spokes that lead back to the intrusive hub. I
enthusiastically recommend more drilling at Silver Sage next summer and systematic exploration for
additional, covered mineralization centers on the property."
- Dr. Peter K.M. Megaw- Exploration Advisor to Alaska Silver Corp.
Investors are cautioned that grab, surface
and trenching samples are inherently selective and
serve to prove the presence of mineralization only. The results are not necessarily indicative of
the overall grade and extent of mineralization on the subject area
High-Grade Surface Results:
Silver
Silver values in the 300 g/t range with grab samples up to 1,235 g/t in Trench 45 ("T45")
T45 Grab Samples:
1235 g/t Ag
with
65% Pb
1135 g/t Ag
with
73% Pb
T45 Channel Sample:
0.5 m true thickness
containing
326 g/t Ag
and
30.57% Pb
Ranges from
106 to 766 g/t Ag
in T48
Lead
Pb mineralization is extensive, with grades from
1% up to 73% Pb
across trenches T44,
T45, T46, T48, and T49.
Zinc
Up to 12.05% Zn over 1.85m (T47)
Broad Range: from
2% to 12% zinc ("Zn")
.
Gold
Up to 0.55 g/t over 1.0m
Multiple samples >0.35 g/t gold ("Au") in Trenches T44, T45, T47
Copper
Values range from
0.1% to 0.35%
copper ("Cu") across various trench samples.
Technical Summary:
During the 2025 field season, Alaska Silver executed a focused trenching and sampling pit program
across a
1.5 km x 600 m corridor
south of the Illinois Creek airstrip and toward Dee's Spring (Figure
2). This program followed up on arsenic soil anomalies and Controlled-Source Audio-Frequency
Magnetotellurics ("CSAMT") (surveyed by Zonge International Geophysics in 2022) geophysical targets
identified on lines 7100750 and 7100250.
The Silver Sage zone displays classic CRD-style mineralization, with semi-massive galena, cerussite
(lead carbonate derived from weathering of galena) and copper oxides exposed in multiple surface
trenches (Figures 1, 3, and 4). A ~550-meter mineralized strike length has been delineated, with broader
alteration spanning over 1.1km (Figure 3).
Trench T45 ("
The Galena Trench
"): Exhibits the most intense galena and cerussite mineralization
within a silicified breccia zone (Figures 1 and 4).
Trench T48 (
"The Indiana Jones Trench")
: Located approximately 380 meters south-southwest of
T45; features high-grade lead-silver-zinc mineralization and an oxidized breccia zone (Figure 4).
Additional trenches (T44, T46, T47, T49, and T50) returned highly elevated metal values, indicating
broader mineralized continuity within the Silver Sage zone with widespread alteration, multiple
mineralized horizons, and complex structural repetition (Figure 4).
Figure 1: Hand sample photographs of rocks from T45 "The Galena Trench" showing feathery galena
and cerussite with silicification.
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Figure 2: Overview map of the Illinois Creek District prospects and resources.
To view an enhanced version of this graphic, please visit:
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Figure 3: Silver Sage Zone overview map showing the extent of alteration and mineralization as defined
from surface pits and trenches.
To view an enhanced version of this graphic, please visit:
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Figure 4: Map of Silver Sage zone showing the trench locations and drill holes.
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Next Steps
Pending Drill Assays:
9-hole (906.5 m) drill program assays from Silver Sage are expected in
the coming weeks.
Geological Mapping & Structural Interpretation:
Ongoing integration of drilling, trench, pit, and
geophysical data
Targeting the Source:
Continued work is focusing on vectoring toward the district-scale CRD-
porphyry system
Updated Disclosure Regarding Related Party Participation in Financing
Further to the Company's news release dated October 3, 2025, the Company announces that certain
related parties of the Company (
"Interested Parties"
) purchased or acquired direction or control over
an aggregate of 1,112,000 Units pursuant to the financing which closed on the same date (the
"Offering"
). The placement to those persons constitutes a "related party transaction" within the meaning
of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (
"MI 61-
101"
). Notwithstanding the foregoing, the directors of the Company have determined that the Interested
Parties' participation in the Offering is exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)
(a) of MI 61-101. The Company did not file a material change report 21 days prior to the closing of the
Offering as the details of the participation of Interested Parties had not been confirmed at that time.
Qualified Person
Patrick Donnelly P.Geo, Executive Vice President of Alaska Silver, is a Qualified Person under National
Instrument 43-101, has reviewed and approved the scientific and technical information in this news
release.
About Alaska Silver
Alaska Silver is the pioneer of one of North America's major high-grade silver and critical minerals
districts at the Illinois Creek (IC) Project in western Alaska.
Anchored by the high-grade silver
mineralization of the Waterpump Creek zone, 75 Moz @ 980 g/t AgEq (Inferred)
1
, open to the north and
south and the historic Illinois Creek mine, 525 Koz AuEq - 373 Koz @ 1.3 g/t AuEq (Indicated), 152 Koz
@ 1.44 g/t AuEq (Inferred)
2
, Alaska Silver's 100% owned carbonate replacement deposit shows
significant exploration potential across its 8-km length.
Located approximately 38 kilometers from the
Yukon River, the region's marine highway, the claims of the IC project cover a 100% owned land
package of 80,895 acres (126.36 sq miles or 32,337 hectares).
Headquartered in both Alaska and
Arizona, Alaska Silver brings together a team with a proven track record of large-scale mine
discoveries.
1
Please refer to the NI 43-101 Technical Report titled "Illinois Creek Project Update, Illinois Creek Mining District, Western Alaska, USA" dated April 2,
2024 (effective date of February 20, 2024).
2
Please refer to the NI 43-101 Technical Report titled "Illinois Creek Project Update" dated September 22, 2023 (effective date of May 22, 2023).
"
Kit Marrs
"
Kit Marrs
President & CEO
Phone: 1-520-200-1667
For further information, please contact:
Patrick Donnelly
Executive Vice President
Or visit our website at:
www.alaskasilver.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. "Forward-looking information" includes, but is not limited to, statements with
respect to the activities, events or developments that the Company expects or anticipates will or may
occur in the future. Generally, but not always, forward-looking information can be identified by the use
of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved" or the negative connation thereof. This forward-looking information
relates to, among other things, ongoing and anticipated exploration work at the Illinois Creek Project;
the anticipated timing of assay results and the expected results therefrom; the potential for an entirely
new area of mineralization at Silver Sage; the potential continuity of the CRD property; the
implementation of the objectives, goals and future plans of the Company including the proposed
advancement of the Illinois Creek Project as currently contemplated; the expectation that exploration
activities (including drill results) will accurately predict mineralization; the expectation that the
Company will implement its drilling, geoscience and metallurgical work on its properties and work
plans generally; the effective targeting activities proposed by the Company; the benefits of the
Company's approach to exploration; and the anticipated benefits of the Company's approach to the
resource development plan.
Such forward-looking information is based on numerous assumptions, including among others, that
exploration work at the Illinois Creek Project will occur as anticipated; assay results will be received
when anticipated; Silver Sage will represent an entirely new area of mineralization; the CRD property
will exhibit the anticipated continuity; the Company will be able to implement its objectives, goals and
future plans, including the proposed advancement of the Illinois Creek Project as currently
contemplated; exploration activities (including drill results) will accurately predict mineralization; the
Company will be able to implement its drilling, geoscience and metallurgical work on its properties
and work plans generally; the targeting activities proposed by the Company will be effective; and the
Company's approach to exploration will result in the expected benefits. Although the assumptions
made by the Company in providing forward-looking information is considered reasonable by
management at the time, there can be no assurance that such assumptions will prove to be accurate
and actual results and future events could differ materially from those anticipated in such information.
Important factors that could cause actual results to differ materially from the Company's plans or
expectations include: the risk that exploration work at the Illinois Creek Project will not occur as
anticipated; the risk that assay results will not be received when anticipated; the risk that Silver Sage
will not represent a new area of mineralization as anticipated; the risk that the CRD property will not
exhibit the anticipated continuity; the risk that the Company will not be able to implement its
objectives, goals and future plans, including the proposed advancement of the Illinois Creek Project
as currently contemplated; the risk that exploration activities (including drill results) will not accurately
predict mineralization; the the risk that Company will not be able to implement its drilling, geoscience
and metallurgical work on its properties and work plans generally; the risk that the targeting activities
proposed by the Company will not be effective; the risk that the Company's approach to exploration
will not result in the expected benefits; risks related to market conditions and metal prices; delays in
obtaining or failures to obtain required governmental, environmental or other project approvals;
uncertainties relating to the availability and costs of financing needed in the future; changes in equity
markets; inflation; fluctuations in commodity prices; the other risks involved in the mineral exploration
and development industry; and those risks set out in the Company's public disclosure record on
SEDAR+ (
www.sedarplus.com
) under the Company's issuer profile.. Although the Company has
attempted to identify important factors that could cause actual results to differ materially from those
contained in the forward-looking information or implied by forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking information will prove to be accurate, as actual results and future
events could differ materially from those anticipated, estimated or intended. Accordingly, readers
should not place undue reliance on forward-looking information. Readers are cautioned that reliance
on such information may not be appropriate for other purposes. The Company does not undertake to
update any forward-looking information or financial outlook that are incorporated by reference herein,
except in accordance with applicable securities laws. Any forward-looking information contained in this
news release is expressly qualified in their entirety by this cautionary statement. We seek safe harbor.
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