Alex Metals Corp. · TSXV:ALX
Alex Metals — Investor Presentation (April 2026)
32 slides from Alex Metals's investor presentation, April 2026
Slide 1: High-Grade VMS Exploration in Southeast Alaska
High-Grade VMS Exploration in Southeast Alaska April 2026
Slide 2: Alex Metals was created to discover a world class silver-gold VMS deposit
Alex Metals was created with the sole objective of discovering a world class silver-gold rich volcanogenic massive sulfide (VMS) deposit We believe the Alexander Terrane of southeast Alaska is the best hunting ground globally to make this kind of discovery and that Alex Metals has the exploration te
Slide 3: Targeting projects with clear potential for a major discovery
Targeting projects with clear potential for a major discovery Portfolio of three of the best drill ready, discovery-stage silver-gold VMS prospects in SE Alaska Criteria 1 Criteria 2 Criteria 3 • High-grade VMS systems • Good access, infrastructure • Untested or underexplored with proven ‘ore’ grade
Slide 4: Three High Quality VMS Projects in the Alexander Belt, SE Alaska
Three High Quality VMS Projects in the Alexander Belt, SE Alaska Windy Craggy (297 Mt Cu-Co) Palmer (+17 Mt Cu-Zn-Ag) Greens Creek (30Mt Ag-Au-Zn-Pb) #1 Silver Mine in USA “Wodski” Ag-Zn VMS Project 17m at 6.5 opt Ag, 12.7% Zn+Pb And 5.4m at 12.7 opt Ag, 22.2% Zn+Pb “Frenchie” Zn-Au VMS Project Gold
Slide 5: The Prize – Exploring for the next Greens Creek
The Prize – Exploring for the next Greens Creek Largest Silver producer in the United States 11th largest Silver producer globally (2023) 40 Mt @ 552 g/t Ag, 3.77 g/t Au, 8.5% Zn, 3.3% Pb 600 Moz Ag, 4.5 Moz Au, 6.87 Mlbs Zn, 2.6 Mlbs Pb Top 15 Global Silver Producers (2023) 41.1 Moz 19.0 18.0 16.8
Slide 6: Strategically located in a tier-one mining jurisdiction
Strategically located in a tier-one mining jurisdiction Hosts some of the world’s most significant VMS deposits. Outstanding geological potential with limited modern exploration Aligned with U.S. domestic critical minerals priorities ESKAY Accessible, established mining jurisdiction: Located in Sout
Slide 7: Management, Directors and Technical Advisors
Darwin Green MSc, PGeo Gwen Preston, BSc, MJ Nathan Steeves, PhD Aris Morfopoulos, BCom Chairman President, CEO & Director VP Exploration CFO & Interim Director Entrepreneurial mining executive 20-year mining analyst, executive, Expert in ore system geology and CFO and accountant with 35+ years with
Slide 8: Projects Overview
Projects Overview Three High-Grade VMS Projects • Wodski • KSO • Frenchie
Slide 9: Wodski: A high-grade VMS discovery opportunity
Wodski: A Target: high-grade ✓ +30Mt high-grade ‘Greens Creek Style’ Ag-Au-Zn-Pb VMS Deposit VMS Concept: discovery ✓ Limited outcrops reveals widespread Greens Creek-like VMS mineralization – similar opportunity host rocks, metal ratios and proven ability to generate thick intervals of high-grade A
Slide 10: Wodski Project: Past and Present
Wodski Project: Past and Present 1980s: oil & gas companies looked for another Greens Creek. Found Lost Lake; shallow grid drill program defined silver-zinc VMS zone. Some very high-grade silver hits. 2004: Bravo Ventures optioned project. Drilled 7 holes into Mad Dog. Returned Green Creek intercept
Slide 11: Wodski: A high-grade VMS discovery opportunity with scale potential
Wodski: A high-grade VMS discovery opportunity with scale potential Lost Lake: historic “Geologic Inventory” • Shallow (30m) grid drill program defined 553,800 tons @ 2.5 opt Ag, 8.1% Zn, 0.63% Pb Lost Lake Scott • Some standout silver (ex: 17 kg/ton over 2.4m) Mad Dog: early-stage Greens Creek-like
Slide 12: Wodski Project: Greens Creek-Type Intercepts in 2004
Wodski Project: Greens Creek-Type Intercepts in 2004 Mad Dog Prospect – Zero Follow-up Since Drill Hole From (m) To (m) Interval (m)* Ag (g/t) Ag (opt) Zn (%) Pb (%) Zn + Pb (%) MD04-01 30.3 35.7 5.4 437 12.7 18.45 3.79 22.24 And 40.7 57.7 17.7 223 6.5 11.72 0.97 12.69 No gold reported: Including 49
Slide 13: Wodski Project: Mad Dog 2025 Results
Wodski Project: Mad Dog 2025 Results Gold present in Greens Creek-like levels Grab Samples: •203 g/t Ag, 10.5 g/t Au , 15.7% Zn, 3.1% Pb •257 g/t Ag, 1.7 g/t Au , 20.6% Zn, 1.5% Pb •381 g/t Ag, 3.8 g/t Au , 16.3% Zn, 1.7% Pb •211 g/t Ag, 3.5 g/t Au , 3.2% Zn, 3.0% Pb 13
Slide 14: Lost Lake
18,500 619,000 Lost Lake WO86-005: 2.4 m @ 9.4% Zn, 17,685 g/t Ag incl. 1.2m @ 11.8% Zn, 35,303 git Ag WO86-019: 6.6 m @ 6.7% Zn, 91 g/tAg incl. 1.2m @ 21.5% Zn, 151 g/tAg WO86-002: 4.6 m @ 9.3% Zn, and 0.5 m @ 26.5% Zn, 795 gitAg 0.5% Pb, 103 g/t Ag and 0.6 m @ 5.4% Zn, 1.1% Pb, 78 gitAg | Oar. 202
Slide 15: Lost Lake, Scott, East Lake
Lost Lake, Scott, East Lake 15
Slide 16: 2026 Exploration Approach: Wodski
2026 Exploration Approach: Wodski Planned Methods and Rationale What Success Would Look Like Map and sample Wowodski Island: never before Detailed map as foundation for entire exploration approach mapped and <8% outcrop means prospecting to Identify new prospects, expand known targets – build sense
Slide 17: KSO Project: Historic Cu-Au VMS mine
Target: KSO Project: • +30Mt high-grade Cu-Au VMS deposit Historic Cu-Au Concept: VMS mine with modern • Small copper-gold mine 1902-1907 that has seen very limited exploration. Potential for stacked lenses of copper-gold-rich VMS at surface to represent the upper extent discovery of a much larger s
Slide 18: KSO Project: Past and Present
KSO Project: Past and Present 1901-1907: small mining operation (~80,000 tons). 520m workings; only one adit was stoped 1944-45: US Bureau of Mines trenching and channel sampling 1970s-1990s: several companies. 25 holes reportedly drilled but no data available. Ground VLF and airborne DIGHEM surveys
Slide 19: KSO Project: Historic Cu-Au VMS mine with modern discovery upside
KSO Project: Historic Cu-Au VMS mine with modern discovery upside Easy access to logging roads and the ocean for marine transport X Khayyam Mine Site Recent Logging X Stumble-On Mine Site Old Logging Road Omar Creek Looking south-southwest – 4km to Pacific Ocean Looking north-northwest – active logg
Slide 20: Khayyam Mine Site – Thick Beds of Massive Sulfide at Surface
Khayyam Mine Site – Thick Beds of Massive Sulfide at Surface Stumble-On Mine Site 10 to 15ft wide Zone of Massive Sulfide +/-1000ft strike at Khayyam Mine Site 20
Slide 21: Khayyam Mine Site
Khayyam Mine Site Lenses of massive to semimassive pyrite and chalcopyrite, with subordinate pyrrhotite, sphalerite, and magnetite At least six lenses, up to 8 m thick over a 70 m-thick stratigraphic interval Chip samples up to: 3.7 g/t Au, 54.9 g/t Ag, 8.1% Cu, 6.5% Zn over 2.2 m 21
Slide 22: Khayyam Mine Site: Surface Rock Sampling
Khayyam Mine Site: Surface Rock Sampling Coarse crystalline massive sulphide with high-grade copper, gold, silver, zinc X Massive sulfide from Adit 6 showing banded pyrite, chalcopyrite, and bornite. Photo is from an area sampled as a 1.2m chip grading 6.2 g/t Au, 83.7 g/t Ag, 11.8% Cu, and 6.1% Zn
Slide 23: Stumble-On: Rock Sampling
Stumble-On: Rock Sampling Sample Au g/t Ag g/t Cu % Zn % Type Notes Sample# B0171705: B0171704 0.49 46.2 7.38 3.40 Grab/Float Msv Cpy-Py float boulder 2ft Chip across Massive Sulfide B0171705 0.47 32.6 4.93 2.63 Chip 2ft Chip across Msv Sx bed outcrop near Stumble-On adit B0171706 3.33 65.6 8.54 2.0
Slide 24: Discovery Adit sampling map
pe ~——— Discovery Adit, Crossout { - / 1.1m chip: . / /18.2% Cu, 1.7 g/t Au (1946) ns Be , wy { |Grab: a, StumbleOn S |9.9 % Cu, 4.5 g/t Au ES Lower Adit J , La ee “o pi J j Trench ea Oe a | Crosscut Adit Grab: / ‘ Pili SE Cu, 6.9 git Au ; Sai ys -_ Kb i Adit __-[Discovery Adit Outcrop Float: Wt 3.1
Slide 25: KSO Project: Geophysics
KSO Project: Geophysics Strong EM conductor anomalies associated with known massive sulfide • Electro Magnetic (EM) geophysical survey flown October 2025 identified strong EM conductors associated with known massive sulfide and large NEW conductor anomalies on trend to the west Results from 220 line
Slide 26: 2026 Exploration Approach: KSO
2026 Exploration Approach: KSO Planned Methods and Rationale What Success Would Look Like Drill Khayyam, Stumble On, and Western 3 to 6-metre+ intercepts of copper-gold-rich VMS mineralization Anomaly: down dip, down plunge, along strike of in stacked lenses mapped lenses Inform a model with vectors
Slide 27: Frenchie Project: Walk-up drill target
Target: Frenchie • +30Mt high-grade ‘Greens Creek Style’ Ag-Au-Zn-Pb VMS deposit Project: Walk-up drill Concept: target in a • Gold-rich Greens Creek type massive sulfide prospect: 3-5m thick massive sulfide exposed for 180 meters in a creek cut. Greens Creek– style VMS Option: 750,000 shares over 4
Slide 28: Frenchie Project: Walk-up drill target in a Greens Creek–style VMS system
Frenchie Project: Walk-up drill target in a Greens Creek–style VMS system 2026 Exploration Plans Map and sample Assess efficacy of gravity and magnetics in highlighting VMS mineralization 28
Slide 29: Go-Public Plan and Schedule
Go-Public Plan and Schedule Steady progress over past year. Targeting July 2026 to complete TSX.V listing ✓ Seed financings ✓ Team build out - Executive Management, Directors and Technical Team ✓ 6-week fall 2025 work program – mapping, sampling, geophysics and more claim staking ✓ NI 43-101 Reports
Slide 30: Pro-Forma Capitalization Table
Pro-Forma Capitalization Table PROCEEDS / DATE FORM SHARES PRICE DETAILS VALUE 15-Apr-25 Founders Placement Round 2,000,000 $0.01 $20,000 Company formation (founders shares) 1 15-Apr-25 Wodski and KSO Property Acquisition 8,000,000 Acquisition of Principal properties (from founders) Mid 2025 to $0.1
Slide 31: Key Takeaways
Key Takeaways Clear Goal: use deep VMS and Alaska exploration expertise to make a significant new VMS discovery in an underexplored belt of rocks that hosts standout VMS deposits and where exploration and mining are functional Serendipity: project watched for 20 years came available for staking in 2
Slide 32: www.alexmetals.com
www.alexmetals.com Gwen Preston, President and CEO gwen@alexmetals.com Investor Relations info@alexmetals.com 32