Mr. Kit Marrs reports

ALASKA SILVER ANNOUNCES GRANT OF RSUS

Alaska Silver Corp. has issued an aggregate of 68,334 restricted share units (RSUs) to certain non-executive directors of the company in accordance with the company's director compensation policy. Each RSU entitles the holder to be issued one subordinate voting share of the company on vesting. All of the RSUs will vest one year from the grant date.

In addition, the company announces the amendment of the promissory note between the company's 100-per-cent-owned subsidiary, Western Alaska Copper and Gold Company, and Joe Piekenbrock, an officer of the company. The terms were amended as follows: the interest rate was reduced from 5.0 per cent to 3.5 per cent, monthly payments are reduced from $25,000 to $10,000, and the maturity date in respect of the outstanding principal and interest payable is extended from Dec. 1, 2026, to July 1, 2027.

About Alaska Silver Corp.

Alaska Silver is the pioneer of one of North America's major high-grade silver and critical minerals districts at the Illinois Creek (IC) project in western Alaska. Anchored by the high-grade silver mineralization of the Waterpump Creek zone, 75 million ounces at 980 grams per tonne AgEq (silver equivalent) (inferred), open to the north and south and the historic Illinois Creek mine, 525,000 ounces AuEq (gold equivalent) -- 373,000 oz at 1.3 g/t AuEq (indicated), 152,000 oz at 1.44 g/t AuEq (inferred), Alaska Silver's 100-per-cent-owned carbonate replacement deposit shows significant exploration potential across its eight-kilometre length. Located approximately 38 kilometres from the Yukon River, the region's marine highway, the claims of the IC project cover a 100-per-cent-owned land package of 80,895 acres (126.36 square miles or 32,337 hectares). Headquartered in both Alaska and Arizona, Alaska Silver brings together a team with a proven record of large-scale mine discoveries.

Qualified person

Patrick Donnelly, PGeo, executive vice-president of Alaska Silver, is a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.