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

CEO: "The access infrastructure improvements are expected to materially reduce exploration costs, improve operational efficiency and safety, and accelerate the timelines for advanced exploration and development of one of the most significant domestic critical mineral resources in the United States"

HIGHLIGHTS

Under the US federal FAST-41 transparency dashboard permitting program, AEMC is seeking permits to upgrade and extend the existing Rainy Creek Mining Trail, a gravel trail that leads westward 25 kilometers from the paved Richardson Hwy to the Company's Eureka nickel-rich, multi-critical, polymetallic deposit.

Field work in support of the permitting effort will be done by AEMC contractors in late July and August 2026.

Studies will include a cultural resources survey and additional wetland delineation work along the proposed access corridor.

Permitting activities continue under the schedule established by the federal FAST-41 program, with ongoing coordination amongst federal and state agencies on track.

Permitting decisions are expected in late Fall 2026.

Ground access to the Eureka deposit will significantly reduce future exploration costs, increase safety and accelerate timelines for advanced exploration and future project development.

Construction activities could begin as early as winter 2026/2027, depending on permitting and field conditions.

VANCOUVER, BC / ACCESS Newswire / July 23, 2026 / Alaska Energy Metals Corporation (TSX-V:AEMC)(OTCQB:AKEMF) (" AEMC " or the " Company ") is pleased to provide an update on permitting and related field activities supporting the proposed rehabilitation and extension of the existing Rainy Creek Mining Trail and associated infrastructure at its Nikolai Nickel Project, Alaska.

The Nikolai Nickel Project was accepted for coverage under the Federal Permitting Improvement Steering Council's (" Permitting Council " or " Council ") FAST-41 transparency dashboard (" Dashboard ") program in November 2025. The FAST-41 listing is intended to improve transparency and coordination amongst federal agencies and establish clear timelines for the environmental review and permitting process associated with the proposed access infrastructure.

During the summer of 2026, AEMC is required to complete field surveys along the proposed access corridor, including a cultural resources survey and supplemental wetland delineation work. These studies will provide important information to support the federal and state permitting efforts. The Company currently anticipates that permits required for the proposed road upgrade and extension, temporary bridge installations and camp infrastructure could be issued in late 2026, subject to agency review schedules and completion of all necessary studies and consultations.

Upon receipt of the required permits, and subject to weather conditions and contractor availability, construction activities could commence as early as winter 2026/2027.

AEMC CEO Gregory Beischer commented : "The permitting and baseline work being completed this year represents another important step toward establishing reliable ground access to the Eureka deposit. The access infrastructure improvements are expected to materially reduce exploration costs, improve operational efficiency and safety, and accelerate the timelines for advanced exploration and development of one of the most significant domestic critical mineral resources in the United States. We appreciate the continued cooperation and coordination of the state and federal agencies participating in the FAST-41 process."

The Eureka deposit of the Nikolai Project is situated approximately 80 kilometers (60 miles) south of the town of Delta Junction and 32 kilometers (20 miles) west of the Richardson Highway. The Rainy Creek Mining Trail leads from the Richardson Highway to present and past-producing alluvial gold mines at Rainy Creek and Broxson Gulch. AEMC proposes to rehabilitate the existing roadway, parts of which were initially laid down more than a century ago, and extend it approximately 8 kilometers (6 miles) from Broxson Gulch southward to the Eureka deposit.

The proposed access improvements are expected to facilitate advanced exploration and future development of the Eureka deposit, which hosts multiple critical minerals, including nickel, copper, cobalt, chromium, platinum and palladium, as well as iron. Through drilling done to date, the Company has established the Eureka deposit as a large nickel resource (2025 Mineral Resource Estimate ("MRE") containing 5.605 billion pounds of in-situ nickel in the Indicated Resource Category and 9.384 biillon pounds of in-situ nickel in the Inferred Resource Category (1,190 million tonnes grading 0.21% nickel and 2.087 million tonnes grading 0.20% nickel respectively). See official MRE at this link . The Company believes, based on its own research, that Eureka is the largest known nickel resource in the United States and a therefore a strategically important domestic source of critical minerals essential to the national economy and national defense. Cautionary Note: The Company has done research to document other large nickel resources in the US. Because it is relatively recent news, AEMC's 2025 MRE for the Nikolai project does not yet appear in publications of the United States Geological Survey in which nickel resources are ranked. The Company's research leads it to believe that the Nikolai project has the largest known nickel resource in the US by a substantial margin but presently cannot point to an official source to confirm this contention.

FAST-41 Permitting. In November 2025 AEMC's Nikolai Nickel project was accepted for coverage under the FAST-41 Transparency Dashboard by the Federal Permitting Improvement Steering Council. An Environmental Assessment (" EA ") is to be completed by the agencies with US Army Corp of Engineers (" USACE " or " Corps ") as the lead coordinating agency. The Transparency Dashboard listing is intended to focus initially on infrastructure improvements supporting Nikolai, beginning with the rehabilitation and extension of the existing Rainy Creek Mining Trail, including installation of two temporary bridges, and an on-site camp.

Subsequent to the listing, the USACE determined that a Section 404 Clean Water Permit would be required following an Environmental Assessment. The Bureau of Land Management (" BLM ") was also identified as the US federal agency that would have responsibility to review the project and if appropriate, to grant a Right of Way (" ROW "). That ROW application has been filed and accepted by the BLM Field Office in Glennallen, Alaska. In accordance with the Fast-41 process, a schedule was determined amongst the Permitting Council, USACE and BLM and published on the Dashboard. Public comments for the road project were solicited by USACE. The comment period closed on February 27, 2026. AEMC is scheduled to carry out wetlands mapping and an archaeological survey in summer 2026. USACE and BLM are subsequently scheduled to complete their review by late August 2026.

While not part of the FAST-41 permitting process, State of Alaska agencies also have regulatory authority and must provide consultation and input in order for the federal agencies to issue permits. AEMC is working with the State's Large Mine Permitting Team within the Office of Project Management and Permitting (" OPMP ") for authorizations and permits that are to be issued by the State. Late last year, OPMP and the Governor of Alaska signed a Memorandum of Understanding with the Permitting Council to maximize coordination between State regulatory agencies and the federal Fast-41 program to reduce permitting timelines.

QUALIFIED PERSON

Gregory Beischer, the Company's President & CEO, is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release.

For additional information, visit: https://alaskaenergymetals.com/

ABOUT ALASKA ENERGY METALS

Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for U.S. national security and a bright energy future, all while generating superior returns for shareholders.

AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Nikolai Project and related Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic metals for North America. In January 2026, AEMC's Nikolai Project was accepted for Fast-41 Transparency Dashboard listing to streamline federal permitting for overland access and man camp placement for the next phase of Eureka deposit drilling. AEMC also holds a secondary project in western Quebec; the Angliers - Belleterre project. Today, material sourcing demands excellence in environmental performance, technological innovation, carbon mitigation and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that environmental, social and governance performance is measured by action and led from the top.

ON BEHALF OF THE BOARD "Gregory Beischer" Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:

Gregory A. Beischer, President & CEO Toll-Free: 877-217-8978 | Local: 604-609-7149

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including but not limited to: field work supporting permitting activities, grant of permits, and road construction and upgrade, temporary bridge installment, and further development activity. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements do not guarantee future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include but are not limited to uncertainty relating to the estimation of mineral resources, regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE : Alaska Energy Metals Corp.

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