Mr. Kit Marrs reports

ALASKA SILVER ANNOUNCES GRANT OF OPTIONS

Alaska Silver Corp. has issued an aggregate of 375,000 stock options to certain non-executive directors of the company in accordance with the company's director compensation policy. Each stock option is exercisable at 71 cents per share for a term of five years.

About Alaska Silver Corp.

Alaska Silver is a junior exploration company focused on the discovery and development of high-grade silver, gold, and critical metals assets within one of North America's major high-grade silver and critical minerals districts at their Illinois Creek (IC) project in western Alaska. Illinois Creek is a contiguous, 100-per-cent-owned land package totalling 80,895 acres (126.4 square miles or 32,337 hectares) anchored by two resource-level mineralization zones separated by eight kilometres of high-potential exploration ground. At the eastern end lies the high-grade silver mineralization at the Waterpump Creek zone, which hosts an inferred mineral resource of 75 Moz (million ounces) AgEq (silver equivalent) at a grade of 279 g/t silver, 11.28 per cent zinc and 9.87 per cent lead, that remains open to the north and south. At the western end is the historical past-producing Illinois Creek mine that closed in 1998 and was reclaimed in 2002 due to low metal prices, leaving untouched indicated mineral resources of 260,000 oz gold at 0.92 g/t Au and 8.3 Moz silver at 29.72 g/t Ag, along with inferred mineral resources of 290,000 oz at 0.84 g/t Au and 10.4 Moz silver at 30.11 g/t Ag. The IC project is located approximately 38 kilometres from the Yukon River, the region's primary marine transportation corridor. Headquartered in Alaska and Arizona, Alaska Silver is led by a team with a proven record of large-scale mine discoveries.

Qualified person

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