Mr. Gregory Beischer reports

ALASKA ENERGY METALS ANNOUNCES CLOSING OF LIFE OFFERING OF UNITS

Alaska Energy Metals Corp. has closed a non-brokered private placement of 27,272,701 units of the company at the price of 11 cents per unit for gross proceeds of approximately $3-million, which was previously announced on Jan. 6, 2026.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of 15 cents per warrant share until Jan. 29, 2029.

The company plans to use the proceeds of the offering to continue metallurgical studies, conduct exploration drilling, and continue permitting activities and marketing, and for general working capital purposes.

The offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions to the Listed Issuer Financing Exemption, to purchasers resident in each of the provinces of Canada, except Quebec. The units issued pursuant to the listed issuer financing exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the offering that is available under the company's profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

In connection with the offering, the company paid to certain finders cash commissions of approximately $227,079.76 and issued 2,064,361 non-transferable warrants of the company exercisable at any time until Jan. 29, 2029, to acquire one common share at an exercise price of 15 cents, subject to adjustment in certain events.

A director of the company, John Stalker, participated in the offering for $10,000. The issuance of units to an insider is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to Section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to Section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25 per cent of the company's market capitalization.

Marketing engagements

Capital Gain Media Inc.

Further to the company's news release issued on Sept. 30, 2025, and Jan. 6, 2026, the company announces that it has further extended the term of its marketing engagement with Capital Gain for an additional two-month period ending on June 6, 2026, pursuant to the terms of an amending agreement. An additional marketing budget of $250,000 plus applicable taxes is payable to Capital Gain pursuant to the terms for the amending agreement for its marketing services during the additional two-month term. Capital Gain provides investor relations services and is based in Vancouver, B.C. Capital Gain's principal is Graham Colmer. As of the date hereof, to the company's knowledge, Capital Gain (including its directors and officers) does not own any securities of the company and has an arm's-length relationship with the company. Under the amending agreement, the company will not issue any securities to Capital Gain as compensation for its marketing services.

New Era Publishing Inc. (doing business as Carboncredits.com)

Pursuant to a marketing agreement dated Jan. 29, 2026, the company has engaged Carboncredits.com to engage North American and European investor audiences to bolster awareness of the company through the Carboncredits.com website and e-mail newsletters. The term of Carboncredits.com's engagement shall be for three months in consideration for an upfront fee of $90,000 (U.S.). The company will be featured in native editorial and advertising spots featured on the nickel pricing page of the website. Press releases will be highlighted on the Carboncredits.com home page and news spots. Also, the company will be featured in editorial articles on the nickel sector. Carboncredits.com is a digital marketing and media firm established in 2016 based in Vancouver, B.C. Carboncredits.com and its management operate as an arm's-length service provider to the company. To the best of the company's knowledge, New Era Publishing does not have any equity interest in the securities of the company or a right to acquire such an interest.

About Alaska Energy Metals Corp.

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

Alaska Energy Metals is focused on delineating and developing the large-scale, bulk-tonnage, polymetallic Nikolai project 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. Alaska Energy Metals 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. Alaska Energy Metals works every day to earn and maintain the respect and confidence of the public and believes that ESG (environmental, social and governance) performance is measured by action and led from the top.

We seek Safe Harbor.