American Eagle Gold Corp. reports mineral exploration and corporate developments centered on the NAK property. Company updates focus on drilling plans, expansion and infill work, and geological targets around the Babine porphyry stock and South Zone as it delineates mineralization on the property.
News also covers private placement financings, equity participation by strategic mining investors such as Teck and South32, shareholder voting matters, governance changes, capital-structure disclosure, and periodic operating and financial results.
American Eagle Gold (AMEGF) closed a previously announced top-up equity investment from a South32 subsidiary on September 8, 2026.
The company issued 660,000 common shares at C$1.09 per share, raising gross proceeds of C$719,400 under South32’s top-up right in a 2024 investor rights agreement, allowing South32 to maintain a 19.9% stake. Following the financing, South32 holds 40,991,069 shares, about 19.9% of American Eagle’s non-diluted share capital. No warrants or finder’s fees were issued or paid.
The offering has conditional TSX Venture Exchange acceptance and remains subject to final approval. The new shares are subject to a statutory hold period of four months and one day from closing. Proceeds will be used for general corporate and working capital purposes. American Eagle reports backing of approximately C$50 million in cash and is running a 55,000‑metre drill program at its NAK copper-gold project, expected to continue through April 2027.
American Eagle Gold (OTCQB: AMEGF) has closed an option agreement with Eagle Plains Resources covering three claim groups adjoining its NAK copper-gold porphyry project in British Columbia’s Babine Porphyry District. Conditional TSX Venture Exchange approval has been received, with final approval pending.
The NAK Project land package rises from approximately 1,632 hectares to about 9,283 hectares (around 470%), including optioned ground and independently staked claims. American Eagle now holds, or can earn, interests in roughly 6,142 hectares, or about 62.5%, of the 9,834-hectare Morrison land package formerly held by Pacific Booker Minerals.
American Eagle may earn an initial 60% interest by funding C$4.85 million in exploration, paying C$400,000 cash and issuing 1.2 million shares over six years to December 31, 2031, after an initial C$20,000 cash payment and 50,000 shares at closing. The interest may be increased to 80% via a one-time C$1 million payment. Eagle Plains retains a 2.0% net smelter return royalty, half of which can be repurchased for C$2.5 million. American Eagle, with about C$50 million in cash, remains operator without an operator fee during the earn-in and plans a 55,000‑metre drill program at NAK through April 2027.
American Eagle Gold (OTCQB: AMEGF) reported step-out drill results from hole NAK26-89 at its NAK copper-gold porphyry project in British Columbia. The hole cut 411 metres of 0.43% CuEq from 47 metres downhole, within a broader 880-metre interval grading 0.30% CuEq to 927 metres, with mineralization remaining open to the east.
NAK26-89 links with prior hole NAK25-62’s 140 metres of 0.74% CuEq and extends near-surface mineralization about 250 metres east of the South Zone, on the sparsely drilled southern margin of the Babine porphyry stock. One of three drill rigs is now dedicated to this new Southern Stock Zone target area, with multiple step-outs planned. According to American Eagle, six holes totaling 5,305 metres have been assayed so far in 2026, and 18 of a planned 80 holes are complete within an ongoing 55,000‑metre drill program, funded from approximately $50 million in cash and expected to continue through at least April 2027.
American Eagle Gold (OTCQB: AMEGF) reported new drill results from its NAK copper-gold porphyry project in British Columbia, highlighted by step-out hole NAK26-87, which intersected 1,001 metres of 0.46% CuEq from 39 m downhole, including 218 metres of 1.01% CuEq from 552 m to 770 m. This is described by the company as the longest mineralized intercept ever drilled at NAK and expands the deeper, copper-rich portion of the South Zone about 150 metres to the northwest.
The South Zone mineralized footprint now measures roughly 700 m east–west by 600 m north–south and extends from surface to over 800 m depth. Additional western holes NAK26-84, -86 and -88 returned broad copper mineralization, extending the footprint to the north and west and informing potential open-pit design. American Eagle has released results from five holes in an approximately 80‑hole, ~55,000‑metre drill program running through April 2027 and states it is backed by about $50 million in cash to fund multi‑year work at NAK.
American Eagle Gold (TSXV: AE, OTC: AMEGF) announced that a wholly owned subsidiary of South32 has exercised its contractual top-up right to maintain a 19.9% equity interest in the company. American Eagle will issue 660,000 common shares at C$1.09 per share, for gross proceeds of C$719,400, with no warrants or finder's fees.
According to American Eagle, proceeds will be used for general corporate and working capital purposes. Closing is expected on or before August 28, 2026, subject to customary conditions, including TSX Venture Exchange acceptance. The new shares will be subject to a four‑month‑and‑one‑day hold period.
South32’s ownership is expected to increase from approximately 19.7% (40,331,069 shares) to 19.9% (40,991,069 shares) on a non‑diluted basis. The transaction is a related party transaction under MI 61‑101, but American Eagle intends to rely on exemptions from formal valuation and minority approval because the fair market value and consideration are each below 25% of market capitalization. The company highlights having more than C$50 million in its treasury to advance the NAK copper‑gold project in British Columbia.
American Eagle Gold (OTCQB: AMEGF, TSXV: AE) reported that shareholders approved all matters presented at its Annual General and Special Meeting held on July 28, 2026. According to the company, management thanked shareholders for their support and stated it will continue advancing the NAK copper-gold project and pursuing its growth strategy.
American Eagle Gold (OTCQB: AMEGF) has expanded its Babine Porphyry District land position in British Columbia from approximately 1,632 hectares to about 9,283 hectares, a ~470% increase. This includes an option with Eagle Plains Resources to earn up to 80% of the 5,303-hectare Hearne Hill South project plus the Jinx and NAK NW claim groups.
According to American Eagle, the company now controls roughly 6,142 hectares, or about 62.5%, of the 9,834-hectare former Morrison land package, and has staked an additional 992 hectares in the broader Morrison area. The staged option requires $4.85 million in exploration, $400,000 in cash, and 1.2 million shares over six years to earn 60%, with the ability to increase to 80% via a $1 million payment. American Eagle reports approximately $50 million in cash and is running a fully funded ~55,000-metre drill program at its nearby NAK project through April 2027.
American Eagle Gold (OTCQB:AMEGF) and Eagle Plains Resources (OTCQB:EGPLF) signed an option agreement dated July 24, 2026 under which American Eagle may earn up to an 80% interest in the 4,656-hectare Hearne Hill South copper-gold project plus the nearby Jinx and NAK NW properties in British Columbia, totalling 6,690 hectares.
To earn an initial 60% (First Option), American Eagle must pay Eagle Plains CA$400,000 in cash, issue 1,200,000 common shares and fund CA$4,850,000 in exploration over six years. To increase its interest to 80% (Second Option), American Eagle may make an additional CA$1,000,000 payment, with up to half in shares valued at the 10‑day VWAP, and will reimburse Eagle Plains for the 2026 Hearne Hill South field program. Upon exercise of either option, Eagle Plains will receive a 2% smelter returns royalty, 1% of which can be repurchased for CA$2,500,000, and the parties will form a joint venture with American Eagle as operator. The transaction is subject to TSX Venture Exchange acceptance.
American Eagle Gold (OTCQB: AMEGF) reported first 2026 drill results from its 100%-owned NAK copper-gold porphyry project in British Columbia. Hole NAK26-83 intersected 154 m of 1.21% CuEq within 280 m of 0.96% CuEq from surface, extending the South Zone high-grade core 100 m north.
The hole also returned 801 m of 0.49% CuEq from 33 m to 834 m depth, adding to prior wide, from-surface intercepts in holes NAK25-78 and NAK25-80. According to the company, this is the first result from a fully funded, 50,000+ m 2026 drill campaign (~80 holes) supported by a new road and trail network that reduces helicopter use, improves drill mobility, and lowers cost per metre. American Eagle reports holding about $50 million in cash to expand the South Zone, execute large step-outs, and test additional zones.
American Eagle Gold (OTCQB: AMEGF) terminated its take-over bid for Pacific Booker Minerals effective immediately, so no Pacific Booker shares will be taken up and all tendered shares will be returned. The company remains focused on its 55,000-metre drill program at its 100%-owned NAK project.