ALASKA SILVER CORP

Alaska Silver Corp. is a junior exploration company focused on the discovery and development of high-grade silver, gold, and critical metals assets within one of North America’s major high-grade silver and critical minerals districts at their Illinois Creek (IC) Project in western Alaska. Illinois Creek is a contiguous, 100%-owned land package totaling 80,895 acres (126.40 square miles or 32,337 hectares) anchored by two resource-level mineralization zones separated by 8 km of high potential exploration ground.

At one end lies the high-grade silver mineralization at the Waterpump Creek zone, which hosts an Inferred Mineral Resource of 75 Moz AgEq at a grade of 279 g/t Ag, 11.28 % Zn and 9.87% Pb that remains open to the north and south, as well as by the Illinois Creek Mine. At the western end is the past-producing Illinois Creek Mine that closed due to low metal prices in 1998, leaving untouched Indicated Mineral Resources of 260,000 oz gold at 0.92 g/t Au and 8.3 Moz silver at 29.72 g/t Ag, along with Inferred Mineral Resources of 290,000 oz gold at 0.84 g/t Au and 10.4 Moz silver at 30.11 g/t Ag.

The IC Project is located approximately 38 kilometers from the Yukon River, the region’s primary marine transportation corridor. Headquartered in Alaska and Arizona, Alaska Silver is led by a team with a proven track record of large-scale mine discoveries.

Geologically, the district contains several exploration targets that are interpreted to be linked within a large mineralized system. The Illinois Creek Au-Ag oxide deposit mined is considered to be one end of a broader mineralized corridor extending toward Waterpump Creek, which is a high-grade silver carbonate replacement deposit (“CRD”) Project that is open along strike and at depth. CRDs typically form where metal-rich fluids move outward from intrusive centres and replace reactive carbonate rocks. Alaska Silver believes Waterpump may represent one spoke of a larger hub-and-spoke CRD system on the property emanating from a porphyry target (Figure 1).

Silver Sage, about 4.8 km south of Waterpump Creek, is the newest discovery in 2025.  Trenching, surface sampling and initial drilling outlined high-grade silver-lead mineralization hosted in reactive carbonate rocks. Alaska Silver considers this target evidence that the Illinois Creek district hosts multiple stacked or repeated CRD centres rather than a single deposit.

Figure 1
Source: Alaska Silver

Illinois Creek Spoke Model Regional Map

Figure 2
Source: Alaska Silver

Location of the Illinois Creek and Round Top CRD Systems, locating the TG and TG North CRD prospects

Round Top, which is a large copper-silver-molybdenum porphyry target, is considered to be a potential intrusive source that could have driven the surrounding CRD mineralization at the TG and TG North prospects.