American Eagle Responds to Pacific Booker Minerals Circular and Reaffirms Offer As The Best Path for Shareholders

About this update from American Eagle Gold Corp

Highlights: Financing confirms valuation: Pacific Booker launched a financing on April 30 at an implied net price of approximately $1.75 per share – effectively the same price as American Eagle's offer of $1.76 — yet management continues to characterize the Offer as opportunistic. This contradiction speaks for itself. Offer represents a near four-year high: The Offer price delivered a premium across multiple trading benchmarks, including 20-day, 1-year, 2-year, 3-year, 4-year, 5-year, and 10-year volume weighted average prices. 92% of tenure lost: The Morrison Project's original land package has been reduced by approximately 92%, fundamentally altering the technical and economic basis of the project. The 2009 Feasibility Study is invalid and cannot be relied upon. No permitting pathway under current management: Lake Babine Nation has stated it will not engage with Pacific Booker, eliminating the only viable route to permitting. No credible plan: After more than 17 years, Pacific Booker has produced no updated technical study, no development plan, no qualified geological or engineering team, and no institutional support. American Eagle offers a funded, executable reset: With approximately $55 million in cash, established First Nations relationships, and a qualified technical team, American Eagle is positioned to advance Morrison in a way Pacific Booker cannot. Shareholders are encouraged to review the full Offer at: www.pacificbookershareholders.com. Toronto, Ontario--(Newsfile Corp. - May 1, 2026) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") has reviewed the Directors' Circular dated April 29, 2026 (the "Booker Circular") filed by Pacific Booker Minerals Inc. (TSXV: BKM) ("Pacific Booker"). In our view, the Booker Circular does not address the central issue facing shareholders. After more than 2 decades, there remains no credible path to permit, finance, or advance the Morrison Project under current management. Nothing in the Booker Circular changes our view or provides any basis to modify our Offer. We continue to believe our proposal is fair and compelling for both American Eagle and Pacific Booker shareholders. The Offer price represented a near four-year high and delivered a premium across multiple trading benchmarks, including 20-day, 1-year, 2-year, 3-year, 4-year, 5-year, and 10-year volume wei...

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