Alaska Silver Announces New High-Grade Discovery Zone: Silver Sage

The November 3, 2025 press release announces the discovery of a new high-grade mineralized zone named "Silver Sage" at the Illinois Creek Project in Alaska. The company reports very high-grade surface sample results from this new zone, including grab samples up to 1,235 g/t silver (Ag) with 65% lead (Pb) and 1,135 g/t Ag with 73% Pb. A channel sample returned 326 g/t Ag and 30.57% Pb over a 0.5-meter true thickness.

The release notes that an initial 550-meter mineralized strike length has been delineated within a broader 1.1km alteration corridor. The company has already completed a 9-hole, 906.5-meter drill program on this new target, with assay results pending.

This news is materially positive. The discovery of a new, large-scale, high-grade surface showing is a significant exploration success. It validates the company's exploration model and opens up a completely new target area on the property, reinforcing the district-scale potential thesis that management has been promoting.

Chronologically, the company's news flow shows a clear and logical progression: - March-September 2025: The company signaled a need for capital, arranging bridge loans and preparing for a major financing and a US listing. Financials from June 30 showed cash was critically low at ~$591k. - October 3, 2025: Successfully closed a substantial US$13.8 million financing at US$0.65 per unit. This recapitalized the company, cleaned the balance sheet, and fully funded future exploration. - October 15, 2025: Announced the completion of the 2025 exploration program, which included the first mention of the new Silver Sage discovery and the fact that 9 holes had been drilled into it, with assays expected in Q4. - November 3, 2025: Today's news provides the first results from Silver Sage. While only surface samples, the extremely high grades provide a strong proof-of-concept for the new target and build significant anticipation for the pending drill results.

The key risk, explicitly stated in the release's disclaimer, is that grab and channel samples are selective and not necessarily representative of the overall grade and extent of mineralization. The market is aware of this. The true measure of this discovery's economic potential will come from the pending drill assays, which will test for grade continuity and width at depth.

Nonetheless, this release significantly de-risks the exploration thesis for the Silver Sage zone. It is a well-timed release following a major financing, demonstrating to new investors that their capital is being put to effective use. The market should react positively, though the full extent of re-rating will likely be reserved until drill assays are published.

Alaska Silver Corp. is a mineral exploration company focused on its 100%-owned Illinois Creek Project in Alaska. The project is considered to have district-scale potential for Carbonate Replacement Deposits (CRD). It hosts several key zones: - Waterpump Creek (WPC): A high-grade inferred resource of 2.38 million tonnes grading 279 g/t silver, 11.2% zinc, and 9.8% lead (75 million ounces AgEq at 980 g/t AgEq). - Illinois Creek (IC): A past-producing gold deposit with an existing resource. - Silver Sage: The new high-grade silver-lead discovery zone discussed in the most recent news release. The company's strategy is to prove the connection between these zones and demonstrate a large, continuous mineralized system. The property is noted as being 100% owned and royalty-free.