VANCOUVER, BC / ACCESS Newswire / November 6, 2026 / Alaska Energy Metals Corporation (TSXV:AEMC)(OTCQB:AKEMF) ("AEMC" or the "Company") is pleased to report high extraction results from Pressure Oxidation ("POX") hydromet testing of the Eureka Deposit's bulk Ni-Cu concentrate produced during flotation locked cycle testing. The hydromet test work was completed by Simulus Laboratories in Welshpool, Western Australia using Lifezone's proprietary hydromet technology. These positive results are an important step in understanding the potential downstream value of metals that could be produced for the Eureka Deposit, Alaska.

AEMC CEO Gregory Beischer commented: "On-site hydrometallurgical refining would eliminate the need to ship concentrate to an existing smelter. No nickel smelters exist in the US. Additionally, we would realize much higher metal payability, particularly for copper, which is an important by-product for Nikolai. Strong metal extraction rates and better metal payablity should serve to improve project economics but must be balanced against increased capital costs. Importantly, hydrometallurgical processing at Nikolai would result in production of refined nickel and other critical and strategic metals in Alaska for American industrial markets and the US Department of War. Additionally, the increase in recovery rates in our most recent flotations tests are encouraging."

HYDROMET OBJECTIVES AND RESULTS

The objective of this hydromet study was to examine how bulk nickel - copper - cobalt sulfide concentrates from the Eureka Deposit respond to POX testing. To accomplish this objective, a composite flotation circuit sample from Locked Cycle Tests ("LCT") was subjected to pressure oxidation and solution treatment to determine the extraction rates of nickel, copper, cobalt, platinum, palladium and gold into solution from the concentrate. Head assay of the composite LCT sample was 8.0% nickel, 4.0% Cu, 0.29% Co, 2.19 g/t Pt, 4.80 g/t Pd and 0.51 g/t Au. POX testing successfully achieved high extraction rates of 97.2% nickel, 99.3% copper, 98.9% cobalt, 99.5% platinum, 86.1% palladium and 47.8% gold (Table 1).

Table 1. Concentrate Grades and POX Extraction Results

The results indicate several possible processing options including total or partial pressure oxidation, recovering the base and precious metals in a single stage via chlorinated pressure oxidation, or two stage leaching to recover the base and precious metals in two distinct streams.

AEMC plans further hydrometallurgical testing on lower grade concentrate samples that will be collected to maximize nickel recovery. If similar extraction rates can be realized on lower-grade concentrate samples there will be benefits to the project.

Economic assessment of the various options may be performed with this additional information in hand, including trade-off analysis of incremental metals recoveries against reagent consumptions and materials of construction and for the selected case, further refining test work planned.

ADDITONAL LOCKED CYCLE FLOTATION TESTING

Based on these successful results from hydromet POX testing, an additional flotation Locked Cycle test (LCT-4) was completed to determine if metal recovery rates could be increased. To achieve this, the secondary grind following the 1^st cleaner cell was removed from LCT-4. The flow sheet illustrated below was completed for this additional locked cycle test (Figure 1).

Figure 1. LCT-4 Flowsheet

Locked cycle test four (LCT-4) successfully achieved metal recoveries of 54.3% nickel, 57.4% copper, 26.2% cobalt, 43.1% platinum, 42.5% palladium, and 43.5% gold. This was an increase in recovery of nickel (+4.9%), copper (+6.9%), and cobalt (+5.2%), but resulted in a slight recovery decrease of platinum (-6.0%), palladium (-0.6%) and gold (-0.4%), when compared to the results reported on July 16, 2026. As expected, the concentrate grade assayed slightly lower at 5.79% nickel, 3.15% copper, 0.23% cobalt, 1.03 g/t platinum, 2.63 g/t palladium and 0.66 g/t gold.

Table 2. LCT-4 Bulk Flotation Concentrate Metal Recoveries and Grades

FUTURE METALLURGICAL TEST WORK

The LCT-4 concentrate will be sent to Simulus Laboratories to determine if a lower grade bulk concentrate can achieve similar high metal extraction rates from hydrometallurgical testing.

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: further metallurgical including hydrometallurgical testing and economic analysis. 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.