Mr. Anthony Moreau reports

AMERICAN EAGLE GOLD CLOSES INVESTMENT FROM STRATEGIC INVESTORS

American Eagle Gold Corp. has closed the investment made by both Teck Resources Ltd. and known British Columbia geologist C.J. (Charlie) Greig. With this investment, Teck maintains its 19.9% stake in American Eagle following American Eagle's recent exercise of its option to repurchase a 20% interest in its NAK copper-gold porphyry project from Orecap Invest Corp (view News Release).

The Company issued 3,187,790 common shares (the "Shares") at a price of C$0.215 per share for gross proceeds of approximately $685,375 (the "Offering").

About Charlie Greig

Charlie Greig is a seasoned geologist with over forty years of experience in the exploration industry, much of it focused in the Canadian Cordillera. He started in the industry as a soil sampler, but ultimately specialized as a contract geological mapper, and a geologist who planned and directed exploration, at times on properties staked personally in B.C. Charlie has worked on a variety of projects worldwide, spanning from grassroots exploration to development. He is best known for his role in the discovery of the Saddle deposits with GT Gold Corp, for which he received PDAC's Bill Dennis Award in 2022. Over the years, Charlie also contributed to a number of projects that transitioned into production, such as La India and Alamo Dorado in Mexico (Grayd-Agnico Eagle and Corner Bay-Pan American Silver, respectively), Brucejack in B.C. (Pretium-Newcrest-Newmont), Bisha and Emba Derho in Eritrea (Nevsun and Sunridge Gold, respectively), and Wolverine in Yukon (Atna-Westmin, Yukon Zinc).

About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central B.C. It has excellent infrastructure, being accessed by a network of active all-season logging roads, nearby logging camps, and proximity to not only the vibrant town of Smithers B.C., but also a cross-Canada rail line, a major Provincial Highway (Hwy. 16), and past-producing Cu-Au mines (Bell, Granisle) with. Historical geophysical work and drilling at NAK, which began in the 1960's, tested only to shallow depths, but revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km, and which has now been drilled to depths approaching 1km.

Closing Details

No warrants were included in the Offering, and no finders fees or commissions were paid. The Shares are subject to a statutory hold period of four months plus a day following the closing of the Offering.

Teck acquired the 2,025,000 common shares of American Eagle ("Common Shares") for an aggregate purchase price of $435,375, or $0.215 per Common Share. Upon closing of the Offering, Teck now holds a total of 22,365,000 common shares of American Eagle, or approximately 19.9% of American Eagle's issued and outstanding common shares on a non-diluted basis.

Pursuant to a prior agreement between American Eagle and Teck and for so long as Teck's ownership in American Eagle remains greater than 5.0% of American Eagle's issued and outstanding common shares on a non-diluted basis, Teck holds certain investor rights, being an equity participation right to maintain its pro-rata ownership in the Company and certain information rights relating to the NAK Project.

Teck's purchase of the Common Shares was made for investment purposes. Teck may determine to increase or decrease its investment in American Eagle depending on market conditions and any other relevant factors. This release is required to be issued under the early warning requirements of applicable securities laws. Teck's head office is located at Suite 3300 - 550 Burrard Street, Vancouver, BC, V6C 0B3. A copy of Teck's early warning report may be obtained from Chris Stannell at 604 699 4368.

About American Eagle Gold Corp.

American Eagle is focused on exploring its NAK project in the Babine Copper-Gold Porphyry district of central British Columbia. In May and August 2023, the Company announced strategic investments by Teck Resources Limited.

We seek Safe Harbor.