Mr. Anthony Moreau reports

AMERICAN EAGLE OPENS DRILL SEASON WITH 154 METRES OF 1.21% CUEQ WITHIN 280 METRES OF 0.96% CUEQ FROM SURFACE, EXTENDING THE SOUTH ZONE 100 METRES NORTH

American Eagle Gold Corp. has released the first drill result of the 2026 exploration program at its 100-per-cent-owned Nak copper-gold porphyry project in British Columbia's Babine district. Hole NAK26-83 returned 154 metres of 1.21 per cent copper equivalent within a broader interval of 280 m of 0.96 per cent CuEq from surface, extending the South zone high-grade core 100 m to the north. The broader zone of mineralization encountered in NAK26-83 returned over 800 metres of 0.49 per cent CuEq from surface, marking another long intercept in the South zone and demonstrating both the grade and scale that have come to characterize the overall Nak system.

Highlights:

• NAK26-83 intersected 154 m of 1.21 per cent CuEq within 280 m of 0.96 per cent CuEq, beginning at surface, extending the footprint of the high-grade South zone 100 m to the north;
• NAK26-83 builds directly on the final holes of 2025, including NAK25-78 (802 m of 0.71 per cent CuEq from surface, including 375 m of 1.01 per cent CuEq) and NAK25-80 (618 m of 0.77 per cent CuEq from surface). Broad, high-grade intercepts beginning at surface are a defining feature of Nak's South zone;
• First result of the fully financed, 50,000-plus-metre 2026 campaign, the largest drill program in company history and one of the largest currently under way in British Columbia, with approximately 80 holes planned and drilling continuing for at least nine months;
• A newly permitted exploration trail network, completed this season, now connects drill areas across the property, virtually eliminating helicopter support and materially improving program flexibility and cost per metre;
• With approximately $50-million in cash, American Eagle is financed to define and expand the South zone, execute large stepouts (currently in progress), and test new zones across the Nak system.

Building on the final holes of 2025

NAK26-83 adds to a series of wide, from-surface intercepts in the South zone, including two of the last holes reported from the 2025 season: NAK25-78 (802 m of 0.71 per cent CuEq from surface, including 375 m of 1.01 per cent CuEq) and NAK25-80 (618 m of 0.77 per cent CuEq from surface). These holes, together with NAK26-83, define a coherent, high-grade zone that begins at surface and remains open at depth. Grades of this tenor over these widths, starting at surface, are uncommon among copper-gold porphyry systems and positively position Nak for future development.

First result of a fully financed 50,000-metre campaign

NAK26-83 is the first of approximately 80 holes planned for the 2026 campaign, the largest drill program in American Eagle's history and one of the largest under way in British Columbia. The program is fully financed from cash on hand and will run through the seasons, supporting consistent news flow for the next year as assays are received and verified.

The 2026 program has three objectives: expand the near-surface, higher-grade zones; execute large stepouts, which have been evaluated, planned and are now being drilled; and build the drill density required to support future technical studies.

Logistics: Nak's structural advantage

Nak sits at low elevation with favourable topography and highway and road access to the property. This season, the company has reactivated a network of historical exploration trails on the property and is permitted to construct additional exploration trails that will fully support the needs of an expanded program. This allows drills to move between targets by ground, virtually eliminating the need for helicopter support. The result is faster drill moves, lower cost per metre and the ability to drill year-round.

"NAK26-83 is exactly the start we wanted: wide, high grade and from surface, extending the South zone another 100 metres. It is the first of roughly 80 holes planned this year, so expect steady results. With our new road network in place, the rigs are moving faster and more efficiently than ever, and our large stepouts are already being drilled. Nak has consistently delivered, and we believe hole 83 is a sign of things to come," said Anthony Moreau, chief executive officer of American Eagle Gold.

NAK26-83

NAK26-83 was designed to follow up on the strong results from NAK25-80, drilling similarly to the southwest, but collaring from approximately 200 m to the northeast, and to the north of the core of the near-surface, gold-rich South zone. From surface down to almost 500 m, the drill hole encountered variably altered dikes of Babine stock affinity that cut screens or lenses of clastic sedimentary rocks close to the contact of the Babine porphyry stock itself. Both are cut by common quartz-chalcopyrite veins and zones of locally dense disseminated chalcopyrite. Downhole of the zone of diking, the sedimentary rocks host locally similar dark potassic alteration assemblages to those present in NAK25-80, including biotite and magnetite, but with less common diking, more common finer-grained host clastic rocks, and only locally strong chalcopyrite-plus-or-minus-bornite mineralization.

Quality assurance/quality control and sampling protocol

Sampling at Nak follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in Langley, B.C., for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, and 250 grams of the homogenized sample are pulped. All samples were analyzed for gold, silver, copper, molybdenum, and a suite of 45 other major and trace elements. Analysis for gold is by fire assay fusion followed by inductively coupled plasma -- atomic emission spectroscopy (ICP-AES) on 30 grams of pulp. Silver, copper, molybdenum, and all other major and trace elements are analyzed by four-acid digestion followed by inductively coupled plasma -- mass spectrometry (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 centimetres and no greater than three metres in length. To control standard, blank and duplicate sample frequency and to better constrain pass/fail reanalysis intervals, samples are submitted to the lab in 50-sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples, inserted sequentially following well-mineralized samples where possible, for a total of 10 per cent QA/QC samples.

About American Eagle Gold Corp.

American Eagle is advancing the Nak copper-gold porphyry project in British Columbia's Babine district, supported by approximately $50-million in cash and cornerstone shareholders South32, Teck Resources Ltd., Eric Sprott, and Ore Group.

Qualified person statement

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

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