Alaska Energy Metals files amended NI 43-101 report for nickel project

• Alaska Energy Metals (TSXV:AEMC) has filed an amended NI 43-101 technical report for its Eureka Property, Nikolai nickel project in Alaska
• Indicated resources: 3.9 billion pounds of nickel and inferred resources: 4.2 billion pounds of nickel
• The inferred resource increased from 319.6 million tonnes to 896 million tonnes, a 180 per cent increase
• Alaska Energy Metals Corp. opened trading at $0.20 per share

Alaska Energy Metals (TSXV:AEMC) has filed an amended NI 43-101 technical report for its Eureka Property, Nikolai nickel project in Alaska.

Titled “Nikolai Mineral Resource Estimate (MRE) Technical Report Amended and Updated,” the Alaska-based corporation filed a preliminary short-form base shelf prospectus with securities regulatory authorities, which resulted in a review of the report. The amended report added that a qualified person performed a site visit to the project in 2023 and authored sections of the report.

Highlights of the updated Eureka technical report and MRE

• Indicated resources: 3.9 billion pounds of nickel
• Inferred resources: 4.2 billion pounds of nickel
• The Eureka West and Eureka East deposits are now connected as one deposit measuring 4.5 kilometres in length
• Chrome and iron have been identified as potentially significant co-products of mineralization at the Eureka deposit
• A significant portion of the Eureka MRE has been upgraded from inferred to indicated Resource. The indicated resource contains:
  • 813 million tonnes grading 0.29 per cent NiEq containing:
    • 3,877 million pounds (1.758 million tonnes) of nickel
    • 1,276 million pounds (578,783 tonnes) of copper
    • 303 million pounds (137,438 tonnes) of cobalt
    • 4.0 million ounces of platinum, plus palladium and gold
• The inferred resource increased from 319.6 million tonnes to 896 million tonnes, a 180 per cent increase. The inferred resource contains:
  • 896 million tonnes grading 0.27 per cent NiEq containing:
    • 4,225 million pounds (1.916 million tonnes) of nickel
    • 1,040 million pounds (471,736 tonnes) of copper
    • 327 million pounds (148,324 tonnes) of cobalt
    • 3.4 million ounces of platinum, plus palladium and gold

Management’s commentary

“We are pleased that the report the qualified persons at Stantec prepared in February had only a few, non-material changes required by the thorough reviewers at the securities commission,” Alaska Energy Metals’ president and CEO, Gregory Beischer, said in a news release. “The final 43-101 report gives a clear, supportable documentation of the mineral resource estimate that we have quickly established at the Nikolai project Eureka deposit in just one year of operations.”

There are no material differences between the amended report and the mineral resource estimate from the original report filed in March.

About the company

Alaska Energy Metals Corp. is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium and gold. Located in interior Alaska near existing transportation and power infrastructure, its 100-per-cent-owned flagship project, Nikolai, is situated to become a significant domestic source of strategic energy-related metals for North America.

Alaska Energy Metals Corp. (TSXV:AEMC) opened trading at $0.20 per share.

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