Alaska Energy Metals Provides Update On The Nikolai Nickel Project, Alaska / Permitting - Metallurgy - Government Collaboration

About this update from Alaska Energy Metals Corporation

HIGHLIGHTS Fast-41 permitting of the existing Rainy Creek Mining Road improvement and extension are on track and moving forward. Permit issuance is expected in late summer 2026, paving the way for significantly reduced drilling program costs. Metallurgical work continues with focus on metal recovery and concentrate grade. Sequential flotation of copper and nickel with pyrrhotite suppression is being investigated. US Government - The Company recently participated in a new call for Defense Production Act Title III project funding through a new Department of War Defense Industrial Base Consortium offering. The proposal was recently qualified as "MET" (having met all minimum qualifications for further consideration). AEMC will soon own a 100% interest in the Canwell claim block of the Nikolai project that is known to host very high-grade nickel occurrences. Per the underlying option agreement, the Company has notified the owners that it intends to make final option payment. VANCOUVER, BC / ACCESS Newswire / May 14, 2026 / Alaska Energy Metals Corporation (TSX-V:AEMC) (OTCQB:AKEMF) ("AEMC" or the "Company") is pleased to provide the following corporate update outlining recent activities for the Nikolai Nickel Project, Alaska. FAST-41 Permitting. In November 2025 AEMC's Nikolai Nickel project was accepted for coverage under the FAST-41 Transparency Dashboard ("Dashboard") by the Federal Permitting Improvement Steering Council ("Permitting Council" or "Council"). An Environmental Assessment ("EA") is to be completed by the agencies with US Army Corp of Engineers ("USACE" or "Corps") as the lead coordinating agency. The Transparency Dashboard listing is intended to focus initially on infrastructure improvements supporting Nikolai, beginning with the rehabilitation and extension of the existing Rainy Creek Mining Trail, including installation of two temporary bridges, and an on-site camp. Subsequent to the listing, the USACE determined that a Section 404 Clean Water Permit would be required following an Environmental Assessment. The Bureau of Land Management ("BLM") was also identified as a US federal agency that would have responsibility to review the project and if appropriate, to grant a Right of Way ("ROW"). That ROW application has been filed and accepted by the BLM Field Office in Glennallen, Alaska. In accordance with the Fast-41 process, a schedule was det...

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