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Alaska Energy Metals Amends Canwell Option Agreement to Eliminate Work Commitment, Nikolai Project, Alaska
Highlights: Alaska Energy Metals has amended the Option Agreement with the owner of the Canwe...
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":"Alaska Energy Metals Amends Canwell Option Agreement to Eliminate Work Commitment, Nikolai Project, AlaskaHighlights:Alaska Energy Metals has amended the Option Agreement with the owner of the Canwell claim block which forms a part of the Nikolai Nickel project in Alaska.In return for issuing two million AEMC shares to the owner, the option agreement will be amended such that:The remaining US$1.9M in exploration expenditures is eliminated, andThe final option payment of US$150,000 is deferred until September 1, 2026.The amended agreement gives the Company a clear path to 100% ownership of this important claim block where very high grade nickel, copper and platinum group elements have been discovered at surface. VANCOUVER, BC / ACCESS Newswire / August 19, 2025 / Alaska Energy Metals Corporation (TSXV:AEMC)(OTCQB:AKEMF) (\"AEMC\" or the \"Company\") is pleased to announce that it has signed an amendment to the Option Agreement concerning the Canwell claim block which forms an important part of the Company's Nikolai Nickel project in Alaska. The Option Agreement was originally executed on February 14, 2022 with the following schedule of payments:Pay US$25,000 upon signing (paid);Issue 100,000 shares upon signing (issued);Pay US$25,000 by June 1, 2022 (paid);Pay US$75,000 by September 1, 2022 (paid);Issue 100,000 shares by September 1, 2022 (issued);Incur US$50,000 in exploration expenditures by September 1, 2022 (incurred);Pay US$100,000 by September 1, 2023 (paid);Issue 1,000,000 shares by September 1, 2023 (issued);Incur US$250,000 in exploration expenditures by September 1, 2023 (incurred);Pay US$125,000 by September 1, 2024 (paid);Issue 1,000,000 shares by September 1, 2024 (issued);Incur US$1,000,000 in exploration expenditures by September 1, 2024 (incurred with excess expenditures carried forward);Pay US$150,000 by September 1, 2025;Issue 1,000,000 shares by September 1, 2025;Incur US$1,500,000 in exploration expenditures by September 1, 2025 (incurred)Incur US$2,200,000 in exploration expenditures by September 1, 2026 (partially incurred through excess expenditure carry forward).The agreement amendment, subject to approval by the TSX Venture Exchange, eliminates the remaining US$1.9 million of required exploration expenditures and defers the final cash option payment of US$150,000 (subject to inflation adjustment) until Se...