American Eagle Opens Drill Season with 154 Metres of 1.21% CuEq within 280 Metres of 0.96% CuEq from Surface, Extending the South Zone 100 Metres North

American Eagle Gold Corp. has announced the first drill hole results from its fully funded 2026 exploration program at the NAK copper-gold porphyry project in British Columbia. Hole NAK26-83, collared north of the known South Zone, intersected multiple wide intervals from surface.

The headline intercept is 154 m grading 1.21% CuEq (0.36% Cu, 0.65 g/t Au, 1.5 g/t Ag, 194 ppm Mo) within a broader 280 m at 0.96% CuEq from 33 m downhole. The company interprets this as a 100-metre northward extension of the high-grade South Zone, which remains open at depth.

The 2026 campaign is the largest in company history, comprising approximately 50,000 m across roughly 80 holes, and is fully funded by approximately $50 million in cash. This release marks the first assay results from the new season.

American Eagle Gold Corp. (AE) is a pre-resource explorer with no production or reserves, meaning its entire equity value is derived from the option value of the NAK discovery. The recent drill hole represents a positive step-out that expands a known high-grade zone rather than constituting a new discovery.

At a market capitalization of approximately $234 million, the company’s valuation already prices in a significant resource. The latest release reported an intercept of 154 meters at 1.21% copper equivalent (CuEq). While this is a strong result, it is not significantly above prior 2025 intercepts, such as 375 meters at 1.01% CuEq in hole 78 and 167 meters at 1.06% CuEq in hole 57, suggesting it may not dramatically reset market expectations.

The intercept supports the high-grade core concept and de-risks the South Zone. However, the overall system still requires infill drilling to prove continuity ahead of a maiden resource estimate. The news is considered genuinely positive, incremental, and market-relevant, but does not stand alone as a company-maker.

American Eagle Gold Corp. is a Canadian junior explorer focused on the NAK property in the Babine copper-gold porphyry district of central British Columbia. The project is road-accessible, situated near rail and power infrastructure, and lies on Lake Babine Nation traditional territory under an Exploration Agreement. The deposit is a Cu-Au porphyry system with a defined 1.5 km × 1.7 km footprint and mineralization extending from the surface to depths exceeding 800 meters. The South Zone hosts a near-surface, high-grade core, while the broader Babine porphyry stock offers bulk-tonnage upside.

The company currently has no mineral resource or reserve, no production, and no economic study. A maiden resource and preliminary economic assessment (PEA) are targeted for 2027. Regarding its capital structure, American Eagle Gold Corp. has approximately 205 million shares outstanding and 16 million warrants and options, with a basic market capitalization of approximately $230–234 million. The company holds a cash position of approximately $50 million as of mid-2026, which fully funds a drill program of more than 50,000 meters through 2027.

Key shareholders include South32 with 19.9%, Teck Resources with 12.9%, Eric Sprott with approximately 9.9%, and the Ore Group as insiders. Insider and strategic ownership totals approximately 53%.