Mr. Anthony Moreau reports

AMERICAN EAGLE'S 2024 EXPLORATION PROGRAM UNDERWAY

American Eagle Gold Corp.'s 2024 exploration program at its NAK property is about to get under way with an initial nine-line, deep-looking induced polarization survey. The IP survey will add to the three-line deep-penetrating survey completed last year. The inversion modelling of those data, when combined with data from historical IP work at the NAK project, strongly suggested that the shoulder of the IP chargeability high broadly correlated with the zones of best mineralization encountered in the 2023 drilling.

The IP survey aims to build on the successful three-line deep-looking IP survey run in the fall of 2023. Inversion modelling of the IP data from that survey strongly indicated that the inner flank, or shoulder, of the IP chargeability high correlated well with better grades in drill holes NAK23-08, -11 and -17 in the South zone, and in holes NAK23-12, -13 and -14 in the North zone. Nine IP lines are slated for the 2024 program, extending from the southwesternmost part of the NAK property to the northeasternmost part. This work is anticipated to increase the company's confidence in targets at depth, and modelling of the data will incorporate historical data, which outlined a classic, broad but shallow IP chargeability halo enveloping the Eocene Babine granodiorite porphyry stock at NAK. The expanded survey will provide additional confidence in planning broad step-out drilling, in testing between the company's broad, high-grade intersections at its North and South zones, and possibly in highlighting depth targets elsewhere on the property, where shallow historical drilling showed promising indications of porphyry-style copper-gold-molybdenum-silver mineralization.

Details of NAK's 2024 drill program

Planning for the 2024 drill campaign is well under way. It will integrate the company's growing understanding of the relationship between reactive and permeable host rocks, and the emplacement of multiphase Eocene dikes and sills, resulting in the development of a detailed mineralization and alteration model. The expanded 2024 program, which will consist of 15,000 metres, will aim to link, better define and expand upon the historical North and South zones, which the company showed in its 2022 and 2023 drill programs extend to great depths. Intercepts from 2023 include 900 m of 0.50 per cent copper equivalent in the North zone and 302 metres of 1.09 per cent within 606 m of 0.74 per cent copper equivalent starting from 98 metres downhole in the South zone.

About American Eagle's NAK project

The NAK project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological and geochemical work at NAK, which began in the 1960s, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 kilometres by 1.5 km. Drilling completed in 2022 and 2023 by American Eagle has returned significant intervals of high-grade copper-gold mineralization that lie beyond the extent of historical drilling, indicating that several zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.

About American Eagle Gold Corp.

American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada.

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