Mr. Gregory Beischer reports

ALASKA ENERGY METALS PROVIDES CORPORATE UPDATE AND REPORTS ON AT-THE-MARKET EQUITY FINANCING PROGRAM

Alaska Energy Metals Corp. has provided the following corporate activity update and details of funds raised through its at-the-market (ATM) equity program.

Highlights:

• Efforts to secure government grant funding advance;
• Metallurgical work continues;
• Scoping study initiated;
• ATM financing sales report for second quarter of 2025;
• Sale of legacy gold projects anticipated.

Government grant funding

Alaska Energy Metals continues to work to secure U.S. government grant funding for the Nikolai project under the Title III Defense Production Act program. The company's white-paper application was recently reviewed by Defense Industrial Base Consortium and was advised that the Nikolai project has been given an MET rating. Nikolai is therefore available to be selected for award by the U.S. Department of Defense, based on its need and available funding.

Alaska Energy Metals chief executive officer and president Gregory Beischer commented, "This is a positive step forward in our efforts to secure what would be a transformative grant for the company."

Metallurgical studies

The company is continuing with its metallurgical work to determine metal recovery rates and flow sheet design for production of various metal concentrates. First results are expected in about six weeks. The work is being performed by SGS at its Lakefield laboratory. Fuse Advisors is providing additional technical support.

Scoping study

The company has initiated a scoping study to evaluate project economics on a high-level basis. The study will determine costs, optimum mining rate and mining sequence. It is thought that early extraction of the higher-grade, near-surface core zone will have positive economic effects. The work will lead into a subsequent, more rigorous preliminary economic assessment. Fuse Advisors is performing the work.

ATM sales

The company announces that, during the fiscal quarter ended June 30, 2025, it has issued a total of 2,241,000 Alaska Energy Metals common shares on the TSX-V at an average price of 10.3 cents per share under its ATM equity program launched in February, 2025. The sales provided gross proceeds of $224,422.50. A commission of $13,022.49 was paid to Haywood Securities Inc. in relation to the distributions.

Sale of non-core legacy gold assets

The company plans to sell its interest in several gold projects that it holds in Alaska. The sale allows the company to focus on the Nikolai project and to bolster its treasury in a non-dilutive manner.

About Alaska Energy Metals Corp.

Alaska Energy Metals is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future while generating superior returns for shareholders.

Alaska Energy Metals is focused on delineating and developing the large-scale, bulk-tonnage, polymetallic Nikolai project Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium and gold. Located in interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well situated to become a significant domestic source of strategic metals for North America. Alaska Energy Metals also holds a secondary project in western Quebec: the Angliers-Belleterre project. Today, material sourcing demands excellence in environmental performance, technological innovation, carbon mitigation, and the responsible management of human and financial capital. Alaska Energy Metals works every day to earn and maintain the respect and confidence of the public and believes that ESG (environmental, social and governance) performance is measured by action and led from the top.

We seek Safe Harbor.