American Eagle Gold Terminates Take-Over Bid for Pacific Booker Minerals

Rhea-AI Summary

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.

AI-generated analysis. Not financial advice.

Positive

• Cash and equity preserved by terminating Pacific Booker take-over bid
• 55,000-metre drill program underway at 100%-owned NAK project
• NAK drilling aims to add scale and identify additional high-grade zones
• Drill program intended to further de-risk and advance NAK toward development

Negative

• Strategic acquisition of Pacific Booker will not proceed
• Pacific Booker shareholders who tendered shares face transaction uncertainty and reversal

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Toronto, Ontario--(Newsfile Corp. - June 5, 2026) - American Eagle Gold Corp. ‎(TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company")‎ announces the termination of its take-over bid (the "Offer") for Pacific Booker Minerals Inc. (BKM: TSXV) ("Pacific Booker") effective immediately in accordance with the terms and conditions of the Offer and accompanying take-over bid circular of American Eagle dated April 14, 2026. Accordingly, no Pacific Booker shares will be taken up under the Offer and the Pacific Booker shares that have been deposited under the Offer will be promptly returned to Pacific Booker shareholders.

American Eagle remains focused on executing its recently commenced 55,000-metre drill program at its 100%-owned NAK project, with the objective of adding scale, identifying additional high-grade zones, further de-risking the project, and advancing it toward development.

American Eagle thanks the Lake Babine Nation for its support of the proposed acquisition of Pacific Booker and for the constructive relationship built in the region. The Company also wishes Pacific Booker shareholders success going forward.

ABOUT AMERICAN EAGLE

American Eagle is dedicated to advancing its NAK copper-gold porphyry project in west-central British Columbia, Canada. The Company benefits from over $55 million in its treasury, bolstered by four key shareholders, including major mining companies South32 and Teck Resources Limited, and large strategic investors Eric Sprott and Ore Group. With substantial financial and technical resources, American Eagle Gold is well-positioned to drill, de-risk, and define the full potential of the NAK copper-gold porphyry project.

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and independent 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

For further information please contact:

Anthony Moreau, Chief Executive Officer
Phone: (416) 644-1567
Email: amoreau@oregroup.ca
www.americaneaglegold.ca

- or -

Shorecrest Group Ltd.
Phone: 1-888-637-5789 or (647) 931-7454 for collect calls outside North America
Email: contact@shorecrestgroup.com

FORWARD-LOOKING STATEMENTS

This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the Company's strategy and plans for its 55,000 metre drill program at the NAK project, the derisking and advancement of the NAK project towards development, the return of deposited Pacific Booker shares, and the Company's ability to drill, de-risk, and define the full potential of the NAK copper-gold porphyry project. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, exploration and development risks, commodity price fluctuations, financing and capital requirements, regulatory and permitting risks, and general economic and market conditions. Additional information identifying risks and uncertainties is contained in filings by American Eagle with Canadian securities regulators, which filings are available under American Eagle profile at www.sedarplus.ca. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300311

FAQ

What did American Eagle Gold (AMEGF) announce about its Pacific Booker Minerals take-over bid on June 5, 2026?

American Eagle Gold ended its take-over bid for Pacific Booker Minerals effective immediately. All Pacific Booker shares previously deposited under the offer will be returned to shareholders, and no shares will be taken up, according to the company’s announcement.

Will Pacific Booker Minerals shareholders have their tendered shares accepted by American Eagle Gold (AMEGF)?

Pacific Booker Minerals shareholders will not have their tendered shares accepted by American Eagle Gold. The bid was terminated, so all deposited Pacific Booker shares will be promptly returned to shareholders, leaving their holdings unchanged, according to American Eagle.

Why is American Eagle Gold (AMEGF) terminating its offer for Pacific Booker Minerals?

American Eagle Gold is terminating its Pacific Booker offer in line with the offer’s terms and circular. The company did not provide additional reasons, while emphasizing its focus on advancing the NAK project through a large-scale drill program.

What is the size of American Eagle Gold’s drill program at the NAK project?

American Eagle Gold recently started a 55,000-metre drill program at its 100%-owned NAK project. According to the company, this work aims to add scale, find more high-grade zones, reduce project risk, and help move NAK toward potential development.

How does the NAK drill program relate to American Eagle Gold’s (AMEGF) strategic focus after the terminated bid?

After ending the Pacific Booker bid, American Eagle Gold highlights the NAK drill program as a core focus. According to the company, the 55,000-metre campaign is designed to expand the project, improve confidence, and support future development decisions.

What role does Lake Babine Nation play in American Eagle Gold’s plans involving Pacific Booker Minerals?

Lake Babine Nation supported the proposed acquisition of Pacific Booker Minerals, according to American Eagle Gold. The company expressed gratitude for this support and for the constructive relationship developed in the region, despite the take-over bid now being terminated.