As filed with the U.S. Securities and Exchange Commission on

As filed with the U.S. Securities and Exchange Commission on July 29, 2026

Registration No. 333-290204

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Post-Effective Amendment No. 1

to

Form S-1

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

ALASKA SILVER CORP.

(Exact name of Registrant as specified in its charter)

British Columbia 1040 87-4818470

(State or other jurisdiction of

incorporation or organization)

(Primary Standard Industrial

Classification Code Number)

(I.R.S. Employer

Identification No.)

1500-1111 West Hastings St,

Vancouver, British Columbia, V6E 2J3

Canada

(520) 200-1667

(Address, including zip code and telephone number, including area code, of registrant’s principal executive offices)

Christopher “Kit” Marrs

Chief Executive Officer and President

Alaska Silver Corp.

3573 East Sunrise Dr. Suite 233,

Tucson, Arizona, 85718

United States of America

(520) 200-1667

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Copies to:

Christopher Tinen

Snell & Wilmer L.L.P.

3611 Valley Centre Drive, Suite 500

San Diego, CA 92130

(858) 910-4809

Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of

1933, as amended, check the following box. x

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and

list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act

registration statement number of the earlier effective registration statement for the same offering. ¨

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act

registration statement number of the earlier effective registration statement for the same offering. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an

emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company”

in Rule 12b-2 of the Exchange Act.

Large Accelerated filer ¨ Accelerated filer ¨

Non-accelerated filer x Smaller reporting company x

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any

new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Exchange Act. ¨

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the

registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance

with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Commission

acting pursuant to said Section 8(a), may determine.

EXPLANATORY NOTE

This Post-Effective Amendment No. 1 (this “Amendment”) to the Registration Statement on Form S-1, as amended (SEC File No. 333-290204) (the

“Original Registration Statement”), of Alaska Silver Corp (the “Company”) is being filed pursuant to the undertakings in the Original Registration Statement

to update and supplement the information contained in the Original Registration Statement, which was originally declared effective by the Securities and

Exchange Commission on September 30, 2025.

The Original Registration Statement pertained to the offer of 18,460,000 units (each a “Unit”), each Unit consisting of one of our common shares, no par

value, and one warrant to purchase one common share, and pertained to the offer of the common shares issuable upon the exercise of the warrants

(collectively, the “Registered Securities”). The Registered Securities were initially registered on the Original Registration Statement, as supplemented by that

Registration Statement on Form S-1 (SEC File No. 333-290643) filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and General

Instruction V to Form S-1. The Original Registration Statement, as amended by this Amendment, pertains solely to the registration of 21,229,000 common

shares underlying warrants previously issued by the Company to the investors and 849,160 common shares underlying warrants previously issued by the

Company to the underwriter. The common shares underlying the aforementioned warrants were initially registered on the Original Registration Statement. As

of May 7, 2026, the Company’s proportional voting share class was eliminated, and the Company’s subordinate voting shares were re-identified as “common

shares” without par value (the “Articles Amendment”). All common share and related information presented in this Amendment for periods prior to the date

of the Articles Amendment, have been retroactively adjusted to reflect the Articles Amendment. Any references to the subordinate voting shares in documents

incorporated by reference herein shall be in reference to the common shares.

The Company is filing this Amendment to update the financial information and other disclosures in the Original Registration Statement to, among other

things, include its audited financial statements for the fiscal year ended December 31, 2025.

All applicable registration fees payable in connection with the continued registration of the securities registered pursuant to this Amendment were previously

paid at the time the Original Registration Statement was filed. This Post-Effective Amendment is being filed in accordance with Section 10(a)(3) of the

Securities Act of 1933, as amended.

Pursuant to Section 84001 of the FAST Act, all documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Securities Exchange

Act of 1934, as amended (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on such form that are related to

such items unless such Form 8-K expressly provides to the contrary) after the date of this Amendment and prior to the termination of the offering covered

hereby shall also be deemed to be incorporated by reference into this Amendment and to be a part hereof from the date of filing of such documents.

The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement

filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not

soliciting offers to buy these securities in any state or other jurisdiction where the offer or sale is not permitted.

SUBJECT TO COMPLETION, DATED JULY 29, 2026

PRELIMINARY PROSPECTUS

Alaska Silver Corp.

21,229,000 Common Shares Issuable upon the Exercise of Previously Issued Warrants

849,160 Common Shares Issuable upon the Exercise of Previously Issued Underwriters’ Warrants

This prospectus relates to the offer and sale by Alaska Silver Corp of up to 21,229,000 of our common shares, no par value, underlying 21,229,000

warrants, each warrant to purchase one common share, previously issued by us in a registered public offering under the Registration Statement on Form S-1

(File No. 333-290204) and the Registration Statement on Form S-1 (File No. 333- 290643) of which this prospectus forms a part of, that are issuable at an

exercise price of $0.97. We are not selling any common shares in this offering other than pursuant to the exercise of the outstanding warrants. We will receive

proceeds of up to approximately $20.6 million from the cash exercise of such warrants, if all of the warrants are exercised. This prospectus originally related

to the offering of 18,460,000 units (each a “Unit”), each Unit consisting of one of our common shares, no par value, and one warrant to purchase one

common share, pursuant to this prospectus, at a public offering price per Unit of $0.65. On October 3, 2025, we issued 21,229,000 Units for gross proceeds

of $13,798,850. Each warrant is exercisable for a common share at $0.97 until October 3, 2028. The Company incurred $2,170,703 in share issuance costs

including $1,034,914 in commissions to the underwriters and issued 849,160 share purchase warrants (“Underwriters’ Warrants,” which, together with the

remainder of the warrants registered hereunder, may be referred to collectively as “warrants”) to the underwriters. The common shares issuable upon exercise

of the Underwriters’ Warrants are also being registered under the registration statement of which this prospectus forms a part. Each Underwriters’ Warrant

entitles the holder to acquire one common share at $0.97 until March 31, 2027. We will receive proceeds of up to approximately $823,685 from the cash

exercise of the Underwriters’ Warrants, if all Underwriters’ Warrants are exercised. The common shares and warrants comprising the Units were immediately

separable upon issuance. We have not made any arrangements to place the proceeds from this offering, if any, in an escrow or trust account. We do not intend

to apply for listing or quotation of the warrants on any national securities exchange or trading system. Therefore, without an active trading market for the

warrants, the liquidity of such warrants will be limited.

The Units were offered and sold in this offering under U.S. federal securities laws pursuant to the registration statement of which this prospectus forms a

part and were offered and sold under Canadian securities laws, to the extent applicable, pursuant to the listed issuer financing exemption from Canadian

prospectus requirements under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the “LIFE Offering Exemption”).

As of May 7, 2026, the Company’s proportional voting share class was eliminated, and the Company’s subordinate voting shares were re-identified as

“common shares” without par value (the “Articles Amendment”). All common share and related information presented in this Amendment for periods prior

to the date of the Articles Amendment, have been retroactively adjusted to reflect the Articles Amendment. Any references to the subordinate voting shares in

documents incorporated by reference herein shall be in reference to the common shares.

Our common shares are currently quoted under the symbol “WAM” on the TSXV and under the symbol “WAMFF” on the OTCQX, which is a quotation

service for subscribing members, not an issuer listing service, and provides real-time quotes, last sale prices, and volume information for over-the-counter

securities. Only market makers can apply to quote securities. The closing price of our common shares on the OTCQX on June 26, 2026, was $0.47.

We are an “emerging growth company” as defined by the Jumpstart Our Business Startups Act of 2012 and, as such, we have elected to comply with

certain reduced public company reporting requirements for this prospectus and future filings.

IN THE UNITED STATES, THIS OFFERING IS LIMITED TO “ACCREDITED INVESTORS”, AS DEFINED IN RULE 501(a) OF

REGULATION D UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED.

ARIZONA INVESTORS

SALES OF SECURITIES IN THIS OFFERING MAY BE MADE TO RESIDENTS OF ARIZONA ONLY IF THEY QUALIFY UNDER ONE

OF THESE TWO FINANCIAL SUITABILITY STANDARDS UNDER ARIZONA ADMIN. CODE § R14-4-144: (1) A MINIMUM OF $150,000

GROSS INCOME (OR $200,000 WITH SPOUSE), DURING THE PRIOR YEAR, AND A REASONABLE EXPECTATION OF SAME INCOME

IN THE CURRENT YEAR; OR (2) A MINIMUM NET WORTH OF $350,000 (OR $400,000 WITH SPOUSE), EXCLUSIVE OF HOME, HOME

FURNISHINGS AND AUTOMOBILES, WITH THE INVESTMENT NOT EXCEEDING 10% OF THE INVESTOR’S NET WORTH (OR NET

WORTH OF INVESTOR AND SPOUSE).

Investing in our securities involves a high degree of risk. Before investing in our securities, please carefully read the discussion of material risks

of investing in our securities as described in the section entitled “Risk Factors” beginning on page 9 of this prospectus. Neither the Securities and

Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is

truthful or complete. Any representation to the contrary is a criminal offense.

Prospectus dated ______, 2026.

TABLE OF CONTENTS

ABOUT THIS PROSPECTUS AND EXCHANGE RATES 1

PROSPECTUS SUMMARY 2

RISK FACTORS 8

FORWARD-LOOKING STATEMENTS 9

CAUTIONARY NOTE TO INVESTORS REGARDING ESTIMATES OF MEASURED,

INDICATED AND INFERRED RESOURCES AND PROVEN AND PROBABLE MINERAL

RESERVES 10

USE OF PROCEEDS 11

DIVIDEND POLICY 12

DILUTION 13

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 14

BUSINESS 15

LEGAL PROCEEDINGS 19

PROPERTIES 19

MANAGEMENT 20

EXECUTIVE COMPENSATION 21

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 22

PRINCIPAL SHAREHOLDERS 23

DESCRIPTION OF SECURITIES 24

MATERIAL UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS 28

LEGAL MATTERS 36

EXPERTS 36

ADDITIONAL INFORMATION 36

INCORPORATION BY REFERENCE 36

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ABOUT THIS PROSPECTUS AND EXCHANGE RATES

Neither we nor the underwriters have authorized anyone to provide you with information different from, or in addition to, that contained in this

prospectus or any free writing prospectus prepared by or on behalf of us or to which we may have referred you in connection with this offering. We take no

responsibility for and can provide no assurance as to the reliability of, any other information that others may give you. Neither we nor the underwriters are

making an offer to sell or seeking offers to buy these securities in any jurisdiction where, or to any person to whom, the offer or sale is not permitted. The

information in this prospectus is accurate only as of the date on the front cover of this prospectus, regardless of the time of delivery of this prospectus or of

any sale of our securities and the information in any free writing prospectus that we may provide you in connection with this offering is accurate only as of

the date of that free writing prospectus. Our business, financial condition, results of operations and future growth prospects may have changed since those

dates.

We obtained the industry, market and competitive position data in this prospectus from our own internal estimates and research as well as from industry

and general publications and research surveys and studies conducted by third parties. This information involves many assumptions and limitations, and you

are cautioned not to give undue weight to these estimates. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety

of factors, including those described in “Risk Factors,” that could cause results to differ materially from those expressed in these publications and reports.

Unless otherwise indicated, references in this prospectus to “$”, “dollars”, or “United States dollars” are to United States dollars. Canadian dollars are

referred to herein as “Canadian dollars” or “C$.”

The high, low, average and closing rates for exchanging Canadian dollars into United States dollars for each of the periods indicated, as quoted by the

Bank of Canada, were as follows:

Year Ended December 31

Quarter

Ended

2025 2024 June 30,2026

High for period $ 0.7318 $ 0. 7510 $ 0.7325

Low for period $ 0.6940 $ 0. 6937 $ 0.7037

Average rate for period $ 0.7157 $ 0. 7302 $ 0.7223

Rate at end of period $ 0.7254 $ 0. 6950 $ 0.7044

On December 31, 2025, the Bank of Canada daily rate of exchange was $1.00 = C$1.4389 or C$1.00 = $0.6950.

On June 30, 2026, the Bank of Canada daily rate of exchange was $1.00 = C$1.3643 or C$1.00 = $0.7330.

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PROSPECTUS SUMMARY

This summary highlights information contained in other parts of this prospectus. Because it is only a summary, it does not contain all of the information

that you should consider before investing in our securities, and it is qualified in its entirety by, and should be read in conjunction with, the more detailed

information appearing elsewhere in this prospectus, including the matters set forth in the section titled "Risk Factors," the financial statements and related

notes and other information that we incorporate by reference herein, including our Annual Report on Form 10-K for the year ended December 31, 2025, and

any quarterly reports on Form 10-Q subsequently filed. Investing in our securities involves a high degree of risk. You should carefully consider the risks and

uncertainties described below, together with all of the other information in this prospectus, including our financial statements and related notes, before

investing in our securities. If any of the following risks materialize, our business, financial condition, operating results and prospects could be materially and

adversely affected. In that event, the price of our securities could decline, and you could lose part or all of your investment.

Unless the context indicates otherwise, as used in this prospectus, the terms “Alaska Silver,” “the Company,” “we,” “us,” “our,” “our company” and “our

business” refer to Alaska Silver Corp.

Our Company

Overview

Alaska Silver Corp. (the “Company,” “we,” “us,” or “our”) is a mineral exploration company. Our portfolio consists of five mineral deposits, which

contain gold, silver, copper, lead, and zinc at varying stages of exploration and deposit styles, including a Carbonate Replacement Deposit (“CRD”) and a

past-producing oxide gold mine. We hold all claims in the district, which is located in western Alaska near the Yukon River, covering over 80,000 acres. Our

mineral deposits include Round Top Property, Alaska; Illinois Creek Mine Project, Alaska; and Honker Property, Alaska. The Round Top Property consists of

92 state mineral claims, located in the Mount McKinley and Nulato mining districts of Alaska. The Honker Property consists of 24 state mineral claims,

located in the Mount McKinley mining district of Alaska. Our Illinois Creek Project is located in the Mount McKinley mining district of Alaska. Our

exploration target projects in Alaska include Paw Print and Khotol Property. Each of the above projects is described in further detail under “Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Corporate Information

We were incorporated in the province of British Columbia on April 8, 2020, under the Business Corporations Act of British Columbia, or “BCBCA”. We

are a public company whose common shares are listed for trading on the TSXV under the symbol “WAM” and quoted on the OTCQX under the symbol

“WAMF”. Our telephone number is (520) 200-1667. Our head office is located at 1500-1111 West Hastings St, Vancouver, British Columbia, V6E 2J3

Canada. Our internet address is www.alaskasilver.com. The contents of our website are not part of this prospectus.

Organizational Structure

We have one directly-held wholly-owned subsidiary, Alaska Silver USA Corp (“ASUS”), formerly known as Western Alaska Copper & Gold Company,

and one indirectly held, wholly owned subsidiary, Piek Incorporated. ASUS exists under the laws of Alaska and carries out exploration activities in Alaska.

Our organizational chart is as follows:

Alaska Silver Corp

(British Columbia, Canada)

Alaska Silver USA Corp

(Alaska, USA)

100%

Piek Incorporated

(Alaska, USA)

100%

ASUS is an Alaska corporation incorporated in 2010 for the primary purpose of conducting mineral exploration on the mining claims which it owns.

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