Alaska Silver Commences 2026 Drill Program at Illinois Creek Targeting Resource Expansion and New Discoveries

About this update from Alaska Silver Corp

Tucson, Arizona--(Newsfile Corp. - June 4, 2026) - Alaska Silver Corp. (TSXV: WAM) (OTCQX: WAMFF) ("Alaska Silver" or the "Company") is pleased to announce 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. Camp mobilization is 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. Preparing Illinois Creek Airstrip for 2026 Exploration Program As the 2026 summer program ramps up, the 4400' Illinois Creek airstrip is ready to receive a record freight delivery of over 100,000 pounds of equipment and supplies which will add an excavator, bulldozer, side by sides, pick-up truck, drilling supplies and new fuel storage tanks that will provide 20,000 gallons of additional fuel capacity. Kit Marrs, President and Chief Executive Officer of Alaska Silver, commented: "The 2026 field season represents one of the most ambitious exploration programs ever undertaken across the Illinois Creek district. We are pursuing both near-term resource growth at Waterpump Creek and exciting new discovery opportunities at Silver Sage and elsewhere across the project. With a strong, expanded technical team, two drill rigs operating simultaneously, and multiple trenching programs planned, we believe this year's program has the potential to significantly advance our understanding of the district and unlock substantial shareholder value. Our team is extremely motivated and excited as we begin this season's work." 2026 Program Objectives The 2026 exploration program is focused on four key objectives (Figure 1): Expand the Waterpump Creek Resource by testing the northern ...

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