Mr. Anthony Moreau reports

AMERICAN EAGLE COMMENCES EXPLORATION SEASON AT NAK

American Eagle Gold Corp. has commenced its 2025 exploration campaign, starting with a helicopter-borne magnetic survey over the entirety of its 100-per-cent-owned Nak copper-gold porphyry project in British Columbia.

Magnetic survey to assist in identifying drill targets

The 480 line-kilometre survey, conducted with 50-metre spacing, employs four sensors to measure horizontal and vertical gradients. Compared with the single-sensor method previously used at Nak, this advanced approach provides superior resolution for identifying various geological features and improves the company's understanding of subsurface structures. This will help the Nak team pinpoint where known mineralized dikes reach the surface and target the optimal orientation of drill holes to test where these dikes and magnetite-rich potassic alteration zones may originate at depth.

30,000 metres of drilling on Nak begins in May

American Eagle's 2025 fully financed 30,000-metre drill campaign at Nak begins in May. Backed by strategic investments from Teck Resources and South32, this year's program will surpass the total metres drilled by the company over the past three years combined. It will also rank among the most extensive single-season drill campaigns ever undertaken in British Columbia's Babine region, reflecting the growing scale and momentum behind Nak.

"The upcoming survey will significantly enhance our understanding of the complex network of dikes at Nak, extending well beyond the areas we've drilled to date. It will provide insights into the potential sources of these dikes and where they extend to surface," said Anthony Moreau, chief executive officer of American Eagle Gold. "The insights gained will allow our team to design a more efficient and targeted drill program. This year, we're launching one of the most substantial exploration campaigns in the province -- aimed at expanding the scale of Nak, especially in high-grade, near-surface zones, as well as testing compelling targets that have remained untouched since we acquired the project in 2021. Importantly, even after this aggressive program, we'll remain fully funded for at least another two years."

The company intends to share the results of the latest magnetic survey and a final plan for the 2025 season in the coming weeks, just before the start of the 2025 drill season in the second half of May.

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 kilometres. Drilling completed by American Eagle in 2022, 2023 and 2024 returned significant intervals of high-grade copper-gold mineralization that reached beyond and much deeper than the historical drilling, indicating that 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 dedicated to advancing its Nak copper-gold porphyry project in western-central British Columbia, Canada. The company benefits from over $37-million in cash, bolstered by two strategic investors formed in the past two years with Teck Resources and South32. With substantial financial and technical resources, American Eagle Gold is well positioned to drill, derisk and define the full potential of the Nak copper-gold porphyry project.

Qualified person statement

Mark Bradley, BSc, MSc, PGeo, a certified professional geologist and qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

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