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WAM.V ·

Alaska Silver Announces Public Filing of Registration Statement ON Form S-1 FOR Proposed U.s. Initial Public Offering

Financings Company Commentary

NEWS RELEASE

ALASKA SILVER ANNOUNCES PUBLIC FILING OF REGISTRATION STATEMENT

ON FORM S-1 FOR PROPOSED U.S. INITIAL PUBLIC OFFERING

TUCSON, ARIZONA, US – September 12, 2025 – Alaska Silver Corp. (the “Company,” “Alaska Silver”

or “WAM”) (TSXV: “WAM”) is pleased to announce that it has publicly filed a registration statement

with the United States Securities and Exchange Commission (the “SEC”) with respect to a proposed

initial public offering of its securities in the United States (the “Offering”).

The offering price and certain terms of the securities to be offered will be determined in the context

of the market at the time of pricing. The closing of the Offering is subject to market and other

customary conditions, including, but not limited to, the receipt of all necessary approvals, including

the approval of the TSX Venture Exchange (the “ TSXV”) and the SEC’s review process . There can be

no assurance as to whether or when the Offering may be completed or , if it is completed, as to the

size or terms of the Offering.

Cantor Fitzgerald & Co. (“Cantor”) is acting as the lead book-running manager for the Offering. Cantor

Fitzgerald Canada Corporation will act as an agent for the sale of any Company securities in the

Offering in Canada.

A registration statement relating to these securities has been filed with the SEC but has not yet

become effective. These securities may not be sold nor may offers to buy be accepted prior to the

time the registration statement becomes effective . The Offering will be made in the U.S. only by

means of a prospectus forming a part of the registration statement. A copy of the preliminary

prospectus related to the Offering may be obtained from Cantor Fitzgerald & Co. , 110 East 59th

Street, New York, NY 10022, or via email at [email protected] or telephone at (212) 938-5000.

In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC's website

at www.sec.gov.

The securities may also be offered in British Columbia, Alberta, Manitoba and Ontario by way of a

prospectus supplement to the base shelf prospectus of the Company dated November 21, 2023 to

be prepared and filed in such jurisdictions and in such other jurisdictions outside of Canada and the

United States that are agreed to by the Company and Cantor.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the

Company’s securities, nor shall such securities be offered or sold in the United States absent

registration or an applicable exemption from registration, nor shall there be any offer, solicitation or

sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations

or sales would be unlawful prior to registration or qualification under the securities laws of such state

or jurisdiction.

About Alaska Silver

Alaska Silver is one of the pioneers of North America’s next major silver and critical minerals district

at the Illinois Creek Project, a prolific 8-km mineral corridor hosting two stand-alone deposits with a

new Warm Springs discovery zone in between (the “IC project”). The claims of the IC project cover a

100% owned land package of 73,535 acres (115 square miles or 29,758 hectares), located

approximately 38 kilometers from the region’s marine highway, the Yukon River.

“Kit Marrs”

Kit Marrs

President & CEO

Phone: (520) 200-1667

[email protected]

Patrick Donnelly

Executive Vice President

[email protected]

Or visit our website at: www.alaskasilver.com

Neither 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

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: the completion of the Offering; the intended use

of proceeds from the Offering; and the receipt of all necessary approvals for the completion of the

Offering, including the approval of the TSXV and the SEC.

Such forward-looking information is based on numerous assumptions, including among others, that

the Company will complete Offering in the timeframe and on the terms as anticipated by

management, that the Company will be able to utilize the proceeds of the Offering in the manner

intended, and that the Company will receive all necessary approvals for the completion of the

Offering, including the approval of the TSX V and the SEC . 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 risks relating to the failure to complete the Offering in the timeframe and on the

terms as anticipated by management, market conditions , metal prices, and risks relating to the

Company not receiving all necessary approvals for the completion of the Offering, including the

approval of the TSXV and the SEC. 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.