ALASKA SILVER CORP

On June 4, 2026 Alaska Silver Corp. announced the commencement of its 2026 drilling and exploration program at the Company’s 100%-owned Illinois Creek Project in western Alaska.

The Company’s fully funded, two-rig, 6,000 meter exploration program is designed to expand the Waterpump Creek (“WPC”) resource, evaluate the discovery potential of the Silver Sage target, and advance several emerging exploration targets across the broader Illinois Creek district. Additionally, the Company plans to advance baseline studies for fish habitat, cultural resources and wetlands in parallel with expanded environmental and geoscience programs which will support future permitting and regulatory assessments.

The Company intends to initially deploy one drill rig at Waterpump Creek and one drill rig at Silver Sage for a total of 6,000 meters. At Waterpump Creek South approximately 2,400 meters in 4 to 5 drill holes will test the southern extension of known mineralization beyond the current resource boundary.  This drilling is the Company’s highest-priority resource expansion target.

Approximately 600 meters in 3 drill holes are planned at Waterpump Creek North designed to evaluate additional resource expansion opportunities north of the current resource area.

Silver Sage will be a major focus of the drill program with approximately 3,000 meters in 15 to 20 drill holes planned to evaluate the scale, continuity, geometry and grade potential of mineralization as well as establish the dimensions of a mineralized system while improving understanding of the structural and stratigraphic controls on mineralization.

Camp mobilization is reported to be underway, with personnel and equipment arriving on site to support drilling, trenching, geological mapping, and regional exploration activities throughout the summer field season. Drillers are expected to arrive next week and with drill rigs on site, drilling will commence soon after. Depending on exploration results, drill capacity may be redirected during the season to focus on the most prospective target areas.

Comments

Overall, Alaska Silver stands out because they appear to be in the process of defining an entire silver-rich CRD district with one or more possible underlying porphyry sources, which is a relatively uncommon exploration model in Alaska.  This will be a very interesting program to follow as the project already has significant high grade resources defined in two separate deposits.

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.