Western Alaska Minerals Announces Closing of Loan Transaction
NEWS RELEASE
WESTERN ALASKA MINERALS ANNOUNCES CLOSING OF LOAN TRANSACTION
TUCSON, ARIZONA, US – March 21, 2025 – Western Alaska Minerals Corp. (the " Company" or
"WAM") (TSXV: WAM) announces that, further to its news release dated March 12, 2025, it has
completed an unsecured loan transaction with certain lenders to the Company (the “ Lenders”),
pursuant to which the Company has issued promissory notes (“Notes”) in the aggregate principal
amount of US$1,200,000 (collectively, the “Loan”). The Loan will mature after 36 months and bear
interest at rate of 10% per annum. The Loan will be repayable by the Company after 12 months.
The Company has also issue d to the Lenders an aggregate of 2,697,600 bonus warrants (the
“Warrants”). Each Warrant will entitle the holder to purchase one subordinate voting share of the
Company at an exercise price of C$0.64 for a period of 36 months from the date of issuance.
All securities issued in connection with the Loan will be subject to a hold period of four months and
one day from the date of issuance under Canadian securities laws and restrictions on resale under
the United States Securities Act of 1933, as amended.
Certain related parties of the Company (“ Interested Parties”) purchased or acquired direction or
control over an aggregate of US$524,000 in Notes and 1,177,952 Warrants as part of the Loan. 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 Loan will be 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)(b) of MI 61-101. The Company did not file a material change report 21 days prior to
the closing of the Loan as the details of the participation of Interested Parties had not been confirmed
at that time.
About WAM
Western Alaska Minerals is focused on advancing North America’s next major silver and critical
minerals district at the Illinois Creek CRD, a prolific 8 -km mineral corridor hosting two stand -alone
deposits. Anchored by the high-grade silver deposit at Waterpump Creek deposit, 75 Moz @ 980 g/t
AgEq (Inferred), 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), our 100% owned carbonate
replacement deposit reveals untapped potential across an expansive exploration landscape.
Within the same CRD system sits the Honker gold vein prospect. Twenty-five kilometers northeast of
the Illinois Creek CRD lies the Round Top porphyry copper and the TG North CRD prospects. All
prospects were originally discovered by Anaconda Minerals Co. in the early 1980’s. WAM’s 100%
owned cover 73, 535 acres (115 square miles or 29, 758 hectares). Since 2010, WAM, along with its
precursor company, Western Alaska Copper & Gold, reassembled the Anaconda land package and
has been engaged in exploring the district.
Headquartered in both Alaska and Arizona, WAM brings together a team of seasoned professionals
with a shared vision of pioneering new frontiers in mineral exploration. Our strategic approach is
underpinned by cutting-edge technology, innovative techniques, and a deep understanding of the
geological intricacies of the region.
On behalf of the Company
“Kit Marrs”
Kit Marrs
President & CEO
Phone: 1-520-200-1667
For further information, please contact:
Vanessa Bogaert, Director of Corporate Communications/IR
Or visit our website at: www.westernalaskaminerals.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.