Alaska Energy's Nikolai project added to FAST-41 list

Executive Summary

• Alaska Energy Metals Corp. announces that its Nikolai nickel project has been accepted for coverage on the FAST-41 transparency dashboard by the Federal Permitting Improvement Steering Council, a move intended to streamline federal permitting and set firm timelines for infrastructure improvements.
• The initial focus of the FAST-41 coverage is the rehabilitation and extension of the Rainy Creek mining trail, including the installation of two temporary bridges and an on-site camp, which will facilitate ground access to the Eureka deposit.
• The Eureka deposit is highlighted as the largest known nickel resource in the U.S., containing significant inferred and indicated resources of nickel, copper, cobalt, chromium, platinum, and palladium, with the new access infrastructure expected to reduce costs and accelerate advanced exploration.

Key Details

• FAST-41 Coverage: The Nikolai nickel project was accepted for coverage on the Federal Permitting Improvement Steering Council’s FAST-41 transparency dashboard. This provides comprehensive permitting timetables and transparent, collaborative management of milestones.
• Infrastructure Project Scope: The listing focuses initially on infrastructure improvements, specifically:
  • Rehabilitation and extension of the existing Rainy Creek mining trail.
  • Installation of two temporary bridges to cross the Delta River and Eureka Creek.
  • Construction of an on-site camp capable of housing up to 100 company personnel and contractors.
  • Extension of the roadway approximately eight kilometers (six miles) from Broxson Gulch southward to the Eureka deposit.
• Eureka Deposit Resource Data: The Eureka deposit is described as the largest known nickel resource in the U.S., containing multiple critical metals (nickel, copper, cobalt, chromium, platinum, palladium, and iron). Specific resource estimates include:
  • Inferred Resource: 4.25 million tonnes (9.38 billion pounds) of nickel in situ (2,082 million tonnes grading 0.20% nickel).
  • Indicated Resource: 2.54 million tonnes (5.62 billion pounds) of nickel in situ (1,189 million tonnes grading 0.21% nickel).
• Strategic Alignment: The project is aligned with U.S. national security objectives, as nickel and cobalt are Defense Production Act Title III materials deemed to be in shortfall. The project aims to reduce U.S. nickel and cobalt import dependency.
• Location: The Eureka deposit is situated approximately 80 kilometers (60 miles) south of Delta Junction and 32 kilometers (20 miles) west of the Richardson Highway in interior Alaska.
• RSU Extension: The company announced an extension of the expiry date for 1.5 million restricted share units (RSUs) granted to an arm's-length consultant on Oct. 4, 2024. The expiry date is extended from Oct. 4, 2026, to Dec. 31, 2026, subject to TSX Venture Exchange approval. All other terms remain unamended.

Notable Quotes

• Emily Domenech, Permitting Council Executive Director: "We are proud to support more mining projects that will strengthen the U.S. economy and reduce our reliance on foreign nations. I look forward to working with the Alaska Energy Metals Development Corp. to provide a transparent and predictable federal permitting process while achieving President Trump's vision for American energy dominance."
• Gregory Beischer, CEO, Alaska Energy Metals: "The cost and time savings for further exploration and development once ground access is established will be quite significant. It is very encouraging to see proactive streamlining and co-ordination amongst permitting agencies... With Nikolai hosting six critical minerals... we are extremely well aligned with the U.S. national security objective of developing long-lived, domestic sources of metals and minerals essential to the national economy and national defense."