Mr. Richard Sadowsky of Recyclico reports

RECYCLICO'S U.S. SUBSIDIARY AND ALASKA ENERGY METALS CORPORATION ENTER MEMORANDUM OF UNDERSTANDING TO ADVANCE GOAL OF CREATING DOMESTIC CRITICAL METAL SUPPLY CHAIN

Recyclico Battery Materials Inc.'s new wholly owned United States subsidiary, Recyclico U.S. Mineral Recovery Inc. (RUMR), and Alaska Energy Metals Corp. have entered into a memorandum of understanding (MOU), effective Sept. 16, 2025, to assess the ways in which Recyclico's hydrometallurgical processing technology could be used in the refining of metal concentrates derived from Alaska Energy's polymetallic Nikolai deposit in Alaska. The Nikolai deposit contains seven U.S. government-designated critical minerals, including nickel, cobalt, copper, chromium, platinum, palladium and gold (along with the non-critical mainstay metal iron).

Highlights:

• Recyclico to test the amenability of its hydrometallurgical processes to create refined metal products from Alaska Energy Metal's Nikolai deposit, Alaska.
• Successful application of hydrometallurgical refining of metal concentrates on site at the Nikolai deposit in Alaska would create a wholly American, secure supply chain for nickel, cobalt and a variety of other critical and strategic metals.

As a first step in structuring the parties' working relationship, Alaska Energy will supply RUMR with metal concentrate samples derived from previously collected drill core samples from the Nikolai deposit, along with assay data, mineralogical data and metallurgical testing data. RUMR will test the amenability of recovering nickel and the other accessory metals from the concentrate samples, utilizing Recyclico's expertise in hydrometallurgical refinement. Following the successful completion of testing, the partnership's goal would be to advance to the development of a co-located hydrometallurgical processing facility at the Nikolai project site.

"This partnership perfectly aligns with Recyclico's transition from a venture-stage battery recycler to an important contributor to North America's domestic supply chain for the critical minerals underpinning 21st century industrial needs and national security," said Richard Sadowsky, interim chief executive officer, Recyclico, adding: "The U.S. is fortunate to have significant critical mineral deposits -- like the Nikolai deposit -- but its supply chain's missing link is the lack of domestic capacity in the mid-stream processing segment. We are confident that by partnering with AEMC, Recyclico U.S. Mineral Recovery can help close that gap."

Gregory Beischer, Alaska Energy president and chief executive officer, commented: "We are excited to partner with Recyclico to explore the opportunity of leveraging their hydrometallurgical expertise and proprietary processes. AEMC would like to produce refined metal products from our Nikolai deposit on site rather than having to ship metal concentrate to Asian smelters for refining -- particularly at a time when the United States is heavily reliant on countries officially designated foreign entities of concern to meet U.S. demand for nickel and other critical minerals."

The MOU announcement aligns with national objectives set forth in executive order "Immediate Measures to Increase American Mineral Production" (March 20, 2025) and "Executive Order on Unleashing Alaska's Extraordinary Resource Potential" (Jan. 20, 2025) and comes at a time when the Trump Administration is stepping up its efforts to work with stakeholders to strengthen domestic critical mineral supply chains against the backdrop of surging geopolitical and trade tensions.

About Recyclico Battery Materials Inc.

Recyclico Battery Materials is a critical minerals refining company specializing in the use of advanced hydrometallurgical technologies for processing mined ore and the upcycling of lithium-ion battery materials. Recyclico's processes efficiently recover battery-ready lithium, cobalt, nickel and manganese from end-of-life batteries and manufacturing scrap, supporting energy storage as well as broader industrial applications. Recyclico's business focus aligns with the global demand for future-ready, responsible supply chains and the growing movement to strengthen domestic sourcing of critical materials.

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 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 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 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.