Alaska Silver closes $13.79-million (U.S.) offering

Mr. Kit Marrs reports ALASKA SILVER ANNOUNCES CLOSING OF US$13.8 MILLION OFFERING Alaska Silver Corp. has closed its previously announced offering of 21,229,000 units of the company at a price of 65 U.S. cents per unit for gross proceeds of $13,798,850 (U.S.). The offering was led by Cantor Fitzgerald & Co. as lead book-running manager on behalf of a syndicate of underwriters including Canaccord Genuity Corp., ATB Capital Markets Inc. and Agentis Capital Markets (First Nations Financial Markets LP). Each unit consists of one subordinate voting share and one subordinate voting share purchase warrant. Each warrant is exercisable for one subordinate voting share of the company at 97 U.S. cents until the date which is three years from the closing date of the offering. The full overallotment option granted by the company to the underwriters was exercised in connection with the offering. The net proceeds of the offering will be used to finance the company's mineral exploration activities, to repay certain outstanding debt and for general working capital purposes. The offering was completed (i) in each of the provinces and territories of Canada, except for Quebec, in reliance on the listed issuer financing exemption from the prospectus requirements available under Part 5A.2 of National Instrument 45-106 -- Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, and pursuant to the public offering exemption available under B.C. Instrument 72-503 -- Distribution of Securities outside British Columbia; (ii) in the United States pursuant a prospectus that forms a part of an effective registration statement filed with the Securities and Exchange Commission; and (iii) in such other jurisdictions other than Canada and the United Sates pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, provided that no prospectus filing or comparable obligation, continuing reporting, or continuous disclosure requirement or requisite regulatory or governmental approval arises or has arisen in such jurisdictions. There is no hold period on the units issued in the offering. In connection with the offering, the company paid to the underwriters an underwriting discount of $1,034,913.75 (U.S.) and issued to the underwriters warrants to purchase up to 849,160 subordinate voting shares.. Each underwriter's warrant entitles the holder thereof to acquire subordinate voting shares of the company at a per share exercise price of 97 U.S. cents beginning on the date which is 180 days after Sept. 30, 2025, which is the date of the pricing of the offering, until the date which is 18 months after the pricing date. About Alaska Silver Corp. Alaska Silver is one of the pioneers of North America's next major silver and critical minerals district at the Illinois Creek project, a prolific eight-kilometre mineral corridor hosting two stand-alone deposits with a new Warm Springs discovery zone in between (the IC project). The claims of the IC project cover a 100-per-cent-owned land package of 73,535 acres (115 square miles or 29,758 hectares), located approximately 38 kilometres from the region's marine highway, the Yukon River. We seek Safe Harbor.