Mr. Anthony Moreau reports

AMERICAN EAGLE'S 30,000 METRE DRILL CAMPAIGN AT NAK IS UNDERWAY

A fully financed, 30,000-metre drill program at American Eagle Gold Corp.'s NAK copper-gold porphyry project in British Columbia is now under way.

The 2025 program builds on past success, coupled with an intensive off-season initiative, during which American Eagle developed a robust interpretive model. The initiative included relogging core, constructing drill sections and level plans, and integrating three-dimensional geophysical interpretations. The model was reviewed with input from South32's technical team and renowned porphyry experts Dr. Alan Wilson and Dr. Steve Garwin.

This season's objectives are to expand the high-grade, near-surface copper-gold zone in the south section of the main zone, identify new high-grade zones north and at depth of the north section of the main zone, and drill newly identified targets in untested areas on the property through strategic stepouts defined through integrated geophysical, geological and geochemical data.

Main zone -- expand scale and target high grade

Initial drilling in the main zone will target untested segments of mineralized trends and dike phases where they intersect the property's preferred stratigraphic host rocks. Priority will be placed on near-surface, higher-grade areas, especially those adjacent to and along trend from the gold-enriched south section of the main zone. In parallel, significant effort will be dedicated to testing mineralized dikes with higher-tenor sulphide content, which are increasingly prevalent within and to the north and east of the copper-enriched north section of the main zone.

New untested targets

Several high-priority targets surround the entirety of the Babine porphyry stock. These include the largely untested induced polarization embayment south of drill hole NAK23-09, which features localized outcropping mineralization and some of the highest copper-in-soil and gold-in-soil geochemistry on the mainly till-covered NAK property.

Exploration efforts will also be directed to the eastern margin of the stock, where drilling will follow up on shallow, strongly anomalous historical intercepts. The planned collars will step significantly east of previous drilling and target a compelling geophysical anomaly -- a coincident chargeability, resistivity and magnetic high-mirroring geophysical signatures encountered successfully west of the stock.

Additional drilling with support from strategic partner South32 is planned for the far southeast of the property, testing the prominent structural fabric visible in the magnetic surveys, coinciding with a broad IP resistivity anomaly that bears considerable resemblance to the well-mineralized main zone. South32 has also highlighted several zones of interest within the stock, and through the encompassing IP chargeability anomaly to the north of the stock that will also be tested in 2025.

NAK presents a rare combination of compelling geology and favourable logistics. The project benefits from road access, low elevation, gentle terrain and nearby infrastructure. High-grade copper mineralization and gold mineralization have already been identified at surface and at depth, with significant potential to expand known zones and discover new ones across the broader property. This drill program is expected to exceed the total metres drilled across American Eagle's previous three exploration seasons at NAK.

"American Eagle offers investors exposure to a fully funded drill program, with no additional capital required over the next few drill seasons. Building on the significant work of American Eagle's technical team over the past seven months, South32 have lent significant resources to help design a robust drill plan to prove that the near-surface copper-gold zone is economically viable in this cycle, while also drilling newly identified targets with potential to support a multidecade copper-gold porphyry project. With drilling to commence in the coming days, news flow will extend well into 2026, providing numerous catalysts for investors," said chief executive officer Anthony Moreau.

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, which lie along a major rail line and British Columbia 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 west-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, a qualified person for the purposes of Canada's National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has verified and approved the information contained in this news release.

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