Mr. Gregory Beischer reports

ALASKA ENERGY METALS ANNOUNCES SHARES FOR DEBT SETTLEMENT

Alaska Energy Metals Corp. intends to settle up to $360,000 (U.S.) ($510,084 (Canadian)) of accrued debt through the issuance of common shares of the company.

Pursuant to the debt settlement, the company intends to issue up to 10,201,680 common shares of the company at a deemed price of five Canadian cents per debt settlement share to certain arms'-length creditors of the company.

The issuance of the debt settlement shares to the creditors is subject to the acceptance of the TSX Venture Exchange. All securities issued will be subject to a four-month hold period, which will expire on the date that is four months and one day from the date of issue.

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, Alaska Energy Metals' 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.