Alaska Energy Metals Provides Update On Field Work In Support Of Access Infrastructure Permits At The Nikolai Nickel Project, Alaska

Alaska Energy Metals Corporation (AEMC) issued two updates on July 23, 2026. Regarding permitting, field work for cultural resources surveys and wetland delineation for the Rainy Creek Mining Trail extension is scheduled for late July and August 2026. Permitting decisions from the US Army Corps of Engineers and Bureau of Land Management are expected in late Fall 2026, with construction potentially starting in winter 2026/2027.

The company also announced an intention to settle up to USD$360,000 (CAD$510,084) of accrued debt by issuing up to 10,201,680 common shares to arms' length creditors at a deemed price of CAD$0.05 per share. The issuance is subject to TSX Venture Exchange acceptance and carries a four-month hold period.

Alaska Energy Metals Corporation announced a debt settlement, a standard working capital management tool for pre-revenue explorers that is highly dilutive at the current depressed share price. The company also provided a permitting update expected to align with the previously announced FAST-41 timeline. There is no new market-moving information, and the company continues to burn cash without revenue.

Alaska Energy Metals Corporation is a Canadian exploration company focused on the Nikolai Nickel Project in interior Alaska. Its flagship Eureka deposit hosts the largest known nickel resource in the United States, containing nickel, copper, cobalt, chromium, platinum, palladium, and gold, though this status remains unconfirmed by the USGS.

The company’s 2025 Mineral Resource Estimate includes 5.605 billion pounds of in-situ nickel in the Indicated category and 9.384 billion pounds in the Inferred category. Alaska Energy Metals Corporation is aligning its strategic focus with U.S. national security objectives by developing domestic critical mineral supply chains and pursuing on-site hydrometallurgical refining to avoid foreign smelting.