Mr. Anthony Moreau reports

AMERICAN EAGLE IDENTIFIES POTENTIAL NEW MINERALIZED TRENDS, REFINES 2025'S DRILL TARGETING WITH MAGNETIC SURVEY

American Eagle Gold Corp. has completed the interpretation of data from the recently completed airborne magnetic survey over the entirety of its 100-per-cent-owned Nak copper-gold porphyry project in British Columbia.

The survey results have delivered critical structural insights that advance American Eagle's understanding of the mineralized system at Nak, located in British Columbia's Babine porphyry belt.

Magnetic survey has identified high-priority drill targets

American Eagle has integrated data from a three-axis gradient magnetometer survey, flown last month, with its geological model. Prominent fabrics are visible in the resulting filtered data, and some appear to closely match the modelled orientations of several phases of relatively young, strongly mineralized chalcopyrite- and bornite-bearing porphyry dikes recognized at Nak.

Exploring what was accepted as the Babine porphyry stock

These young porphyry dikes are the most well-mineralized intrusive phases recognized to date, and the related structural-magmatic-mineralized trends continue well beyond where they have been drill tested. Similar trends also occur within the bounds of what was historically known as the Babine porphyry stock, a relatively untested, somewhat older intrusion that underlies a significant proportion of the central part of the property and which lies immediately east of the main area of focus for the company's drilling from 2022 to 2024.

Further interpretation of the data appears to identify other younger mineralized dike trends or possible phases of the historically known Babine porphyry stock, which the company's work is now revealing as a composite body.

30,000 metres of drilling on Nak to begin imminently

American Eagle's 2025 drill campaign is expected to begin on May 25, 2025, with mobilization to site scheduled in less than a week. The 30,000-metre program is fully financed and backed by strategic investments from South32 and Teck Resources. Upon completion, this year's total metrage of drilling will nearly double the total metres drilled by the company to date. 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 the exploration of the Nak project.

"Building on our more than 30,000 metres drilled to date, the new magnetic survey of our property has enhanced our ability to plan drill holes near historical sites and increased our confidence to pursue ambitious stepouts. This approach aims to significantly expand the scale of known zones and target additional higher-grade zones within and beyond them. With drilling scheduled to commence in less than two weeks, our team is enthusiastic about what the 2025 season has in store," said Anthony Moreau, chief executive officer of American Eagle Gold.

2025 drill plan

The company will release its 2025 drill plan in the coming days; it has been supported by a comprehensive strategy developed in the off-season which will also be outlined.

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 Canada's 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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