Mr. Gregory Beischer reports

ALASKA ENERGY METALS ANNOUNCES UP TO $3 MILLION LIFE OFFERING OF UNITS AND UPDATES AT-THE-MARKET PROGRAM UPDATE

Alaska Energy Metals Corp. is undertaking a non-brokered private placement of a minimum of 22,727,272 units and up to a maximum of 27,272,727 units of the company at a price of 11 cents per unit for gross proceeds to the company of a minimum of approximately $2.5-million up to a maximum of approximately $3-million.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of 15 cents per warrant share for three years after the closing date (as defined below).

The offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions to the Listed Issuer Financing Exemption) to purchasers resident in each of the provinces of Canada, except Quebec. The units issued pursuant to the LIFE will not be subject to a hold period in accordance with applicable Canadian securities laws. There will be an offering document related to the offering that will be available under the company's profile at SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

Upon closing of the offering, the company may pay a: (i) a finder's fee equal to up to 8.0 per cent of the aggregate gross proceeds of the offering; and (ii) issue non-transferable warrants of the company exercisable at any time prior to the date that is three days from the closing date to acquire that number of common shares equal to 8.0 per cent of the number of units issued under the offering, at an exercise price of 15 cents, subject to adjustment in certain events.

The company plans to use the proceeds of the offering to continue metallurgical studies, exploration drilling, permitting activities and marketing and for general working capital purposes.

The offering is scheduled to close on or about Jan. 13, 2026, and completion of the offering is subject to certain conditions, including, but not limited to, receiving subscriptions for the minimum amount of $2.5-million under the offering and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

At-the-market program update

The company also announces that, during the fiscal quarter ended Dec. 31, 2025, it issued a total of 191,500 common shares on the TSX-V at an average price of 13 cents per common share under its at-the-market equity program launched in February, 2025. The sales provided gross proceeds of $24,895. Aggregate commissions of $629.68 was paid to Haywood Securities Inc. in relation to the distributions. Proceeds of the at-the-market program are being used for continuing metallurgical studies, for an option assessment for mining scenarios and for general corporate purposes. The company plans to continue with its at-the-market equity program in the first quarter of 2026.

Investor relations contract extension -- Capital Gains Media

On Sept. 29, 2025, the company entered into an investor relations agreement with Capital Gain. Pursuant to that investor relations agreement, Capital Gain has been providing content development and digital marketing services. The company is extending the investor relations agreement for an additional 90 days commencing on Jan. 6, 2026. In accordance with the terms and conditions of the investor relations agreement and as consideration for the services provided by Capital Gain, the company agreed to pay an aggregate upfront cash fee of $200,000, plus applicable taxes. No additional compensation is being paid to Capital Gain for the extension. Capital Gain provides investor relations services and is based in Vancouver, B.C. Capital Gain's principal is Graham Colmer. As of the date hereof, to the company's knowledge, Capital Gain (including its directors and officers) does not own any securities of the company and has an arm's-length relationship with the company. Under the Capital Gain agreement, the company will not issue any securities to Capital Gain as compensation for its marketing services.

About Alaska Energy Metals Corp.

Alaska Energy 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 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 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 works every day to earn and maintain the respect and confidence of the public, and believes that environmental, social and governance performance is measured by action and led from the top.

We seek Safe Harbor.