File: Attachment 2024-04-15 NR call for power ineligibility.pdf

ALASKA HYDRO CORPORATION 2633 Carnation Street

North Vancouver, BC V7H 1H6 TSX Venture Exchange: AKH.H

NEWS RELEASE NOT FOR DISSEMINATION IN THE UNITED STATES

ALASKA HYDRO ANNOUNCES CALL FOR POWER ELIGIBILITY

April 15, 2024 Vancouver, British Columbia Cliff Grandison, President of Alaska Hydro Corporation (AKH.H), announced that the Company will not be able to meet the eligibility requirements to submit the More Creek project into B C Hydro's recent Call for Power. The More Creek project is a 75 MW hydroelectric storage dam and generator on More Creek in northwest B C. The Project has the potential to deliver up to 446 Gwh of clean green energy annually. BC Hydro has indicated that they will return to the market on a regular basis perhaps beginning in 2026 with two year intervals between Calls.

The Call for Power stipulates among other things that the bid must include at least 25% indigenous equity or equity equivalent from a First Nation who has claimed the project is located in their traditional territory. In all other respects the project meets B C Hydro's bid parameters.

Alaska Hydro attempted to engage with the Tahltan First Nation who claimed the area where the More Creek project is located as their traditional land. The Tahltan did not respond to the Company's efforts to engage with them, consequentially Alaska Hydro will not satisfy the equity requirement of First Nation participation because of the failure to engage.

The Company believes it would be a very competitive bidder as the project is well located to the growing demand by both the LNG producers and new mines for electricity. The Company has applications for land and water tenures in the More Creek valley which has been set aside under an Order in Council for a reservoir, hydroelectric dam, and generator. The More Creek valley provides the Galore Creek project with access and is currently the subject of an application for an amendment to their EA Certificate to realign the Galore Creek access road. Alaska Hydro has advised the EAO of its opposition due to the access road's incursion into the More Creek reservoir.

The project will proceed with permitting and engineering . The Company will arrange additional development financing and solicit interest from investors. The demand for electricity is strong in the northwest for power for hydrogen production, crypto currency mining and data processing These markets will be examined for private sales.

For further information, please contact: Cliff Grandison, President (604) 929-3961

Certain statements contained in this release may constitute forward-looking information. These statements may relate to future events or future performance, including receipt of a water licence in respect of the proposed project, receipt of land tenure in respect of lands relating to the proposed project, completion of a preliminary economic assessment, environmental assessments, prefeasibility and feasibility studies and project financing, receipt of TSX Venture Exchange acceptance, receipt of a satisfactory outcome in consultations with First Nations, receipt of applicable permits, anticipated project development timelines and anticipated demand for hydro electricity. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Any forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.