Alaska Silver Commences 2026 Drill Program at Illinois Creek Targeting Resource Expansion and New Discoveries

Executive Summary

• Alaska Silver Corp. has commenced its fully funded 2026 exploration program at its 100%-owned Illinois Creek Project in western Alaska.
• The program features a two-rig, 6,000-meter drilling campaign focused on expanding the Waterpump Creek resource and evaluating the discovery potential of the Silver Sage target.
• Operations include extensive trenching at the TG/TGN and Illinois Creek target areas, alongside camp mobilization, airstrip upgrades, and baseline environmental studies.

Key Details

• Drilling Program: Fully funded, two-rig campaign totaling 6,000 meters.
• Waterpump Creek South: ~2,400 meters in 4–5 holes; highest-priority target to test southern extension of known mineralization beyond current resource boundaries.
• Waterpump Creek North: ~600 meters in 3 holes; evaluates additional resource expansion opportunities north of the current resource area.
• Silver Sage: ~3,000 meters in 15–20 holes; designed to define the size, continuity, geometry, and grade potential of a potentially significant new silver-bearing system.
• Trenching Programs:
• TG/TGN Target Area: 10–20 trenches to advance the Round Top System toward drill-ready status.
• Illinois Creek Target Corridor: 10–20 trenches across high-priority areas to evaluate district-scale mineralization potential.
• Logistics & Mobilization: Camp mobilization underway with drillers arriving next week. The 4,400' Illinois Creek airstrip is prepared for a record freight delivery of over 100,000 lbs of equipment, including an excavator, bulldozer, side-by-sides, pickup trucks, drilling supplies, and new fuel storage tanks adding 20,000 gallons of capacity.
• Resource Context (Waterpump Creek): Inferred Mineral Resource of 75 Moz AgEq at 279 g/t Ag, 11.28% Zn, and 9.87% Pb, remaining open to the north and south.
• Resource Context (Illinois Creek Mine): Historical Indicated Resources of 260,000 oz Au at 0.92 g/t Au and 8.3 Moz Ag at 29.72 g/t Ag; Inferred Resources of 290,000 oz Au at 0.84 g/t Au and 10.4 Moz Ag at 30.11 g/t Ag.
• Qualified Person: Patrick Donnelly, P.Geo., Executive Vice President, has reviewed and approved all scientific and technical information.

Notable Quotes

• Kit Marrs, President & CEO: "The 2026 field season represents one of the most ambitious exploration programs ever undertaken across the Illinois Creek district. We are pursuing both near-term resource growth at Waterpump Creek and exciting new discovery opportunities at Silver Sage and elsewhere across the project. With a strong, expanded technical team, two drill rigs operating simultaneously, and multiple trenching programs planned, we believe this year's program has the potential to significantly advance our understanding of the district and unlock substantial shareholder value."