American Eagle's 30,000 metre Drill Campaign at NAK is Underway

Rhea-AI Summary

American Eagle Gold (AMEGF) has launched a fully funded 30,000-metre drill program at its NAK copper-gold porphyry project in British Columbia. The 2025 campaign focuses on three main objectives: expanding high-grade, near-surface copper-gold in the Main Zone's south section, identifying new high-grade copper zones in the north and at depth, and exploring newly identified targets through step-outs. The program builds on previous success and incorporates input from South32's technical team and porphyry experts. The NAK project benefits from favorable logistics including road access, low elevation, and nearby infrastructure. The drilling campaign, which will continue into 2026, is fully funded with no additional capital requirements for the next few drill seasons.

Positive

• Fully funded 30,000-metre drill program with no additional capital needed for next few seasons
• Strategic partnership with South32 providing technical expertise and support
• Project has favorable logistics with road access and nearby infrastructure
• Previous drilling identified high-grade copper and gold mineralization at surface and depth

Negative

• Results from the drilling program won't be available until well into 2026
• Project is still in exploration phase with no proven economic viability

Highlights:

• 2025 Drill Program Objectives:

  • Expand high-grade, near-surface copper-gold in the south of the Main Zone

  • Identify new high-grade copper mineralization in the north of the Main Zone and at depth

  • Drill newly identified targets via large step-outs in untested areas on the property

Toronto, Ontario--(Newsfile Corp. - May 22, 2025) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce a fully funded 30,000-metre drill program at its NAK copper-gold porphyry project ("NAK") in British Columbia is now underway.

Watch VP Exploration Neil Prowse Discuss the NAK Drill Program

The 2025 program builds on past success coupled with an intensive offseason initiative, during which American Eagle developed a robust interpretive model. The initiative included relogging core, constructing drill sections and level plans, and integrating 3D geophysical interpretations. The model was reviewed with input from South32's technical team and renowned porphyry experts Dr. Alan Wilson and Dr. Steve Garwin (watch video here).

This season's objectives are to expand the high-grade, near-surface copper-gold zone in the south section of the Main Zone, identify new high-grade zones north and at depth of the north section of the Main Zone, and drill newly identified targets in untested areas on the property through strategic step-outs defined through integrated geophysical, geological, and geochemical data.

Main Zone - Expand Scale and Target High Grade:
Initial drilling in the Main Zone will target untested segments of mineralized trends and dyke phases where they intersect the property's preferred stratigraphic host rocks. Priority will be placed on near-surface, higher-grade areas, especially those adjacent to and along trend from the gold enriched south section of the Main Zone. In parallel, significant effort will be dedicated to testing mineralized dykes with higher-tenor sulfide content, which are increasingly prevalent within and to the north and east of the copper enriched north section of the Main Zone.

New Untested Targets:
Several high-priority targets surround the entirety of the Babine porphyry stock. These include the largely untested "IP Embayment" south of drill hole NAK23-09, which features localized outcropping mineralization and some of the highest Cu- and Au-in-soil geochemistry on the mainly till-covered NAK property.

Exploration efforts will also be directed to the eastern margin of the stock, where drilling will follow up on shallow, strongly anomalous historical intercepts. The planned collars will step significantly east of previous drilling and target a compelling geophysical anomaly-a coincident chargeability, resistivity, and magnetic high-mirroring geophysical signatures encountered successfully west of the stock

Additional drilling with support from strategic partners South32 is planned for the far southeast of the property, testing the prominent structural fabric visible in the magnetic surveys, coinciding with a broad IP resistivity anomaly that bears considerable resemblance to the well mineralized main zone. South32 has also highlighted several zones of interest within the stock, and through the encompassing IP chargeability anomaly to the north of the stock that will also be tested in 2025.

See NAK Planned Drill Locations

NAK presents a rare combination of compelling geology and favorable logistics. The project benefits from road access, low elevation, gentle terrain, and nearby infrastructure. High-grade copper and gold mineralization has already been identified at surface and at depth, with significant potential to expand known zones and discover new ones across the broader property. This drill program is expected to exceed the total metres drilled across American Eagle's previous three exploration seasons at NAK.

"American Eagle offers investors exposure to a fully funded drill program with no additional capital required over the next few drill seasons. Building on the significant work of American Eagle's technical team over the past seven months, South32 have lent significant resources to help design a robust drill plan to prove that the near-surface copper-gold zone is economically viable in this cycle, while also drilling newly identified targets with potential to support a multi-decade copper-gold-porphyry project. With drilling to commence in the coming days, news flow will extend well into 2026, providing numerous catalysts for investors," said CEO Anthony Moreau.

About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed by American Eagle in 2022, 2023, and 2024 returned significant intervals of high-grade copper-gold mineralization that reached beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.

For the latest videos from American Eagle, Ore Group, and all things mining, subscribe to our YouTube Channel: youtube.com/@theoregroup

About American Eagle Gold Corp.

American Eagle is dedicated to advancing its NAK copper-gold porphyry project in west-central British Columbia, Canada. The Company benefits from over $37 million in cash, bolstered by two strategic investors formed in the past two years with Teck Resources and South32. 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.

Anthony Moreau, Chief Executive Officer
416.644.1567
amoreau@oregroup.ca

www.americaneaglegold.ca

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and '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.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the closing of the repurchase of Consideration Shares, the satisfaction of the conditions set forth in the exemptive relief ‎order from the Ontario Securities Commission, its anticipated results at the Company's NAK project, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept 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/253020

FAQ

What is the size of American Eagle Gold's (AMEGF) 2025 NAK drilling program?

American Eagle Gold's 2025 NAK drilling program consists of 30,000 metres of drilling, fully funded with no additional capital requirements for the next few drill seasons.

What are the main objectives of AMEGF's 2025 NAK drilling program?

The program has three main objectives: 1) expand high-grade, near-surface copper-gold in the Main Zone's south section, 2) identify new high-grade copper zones in the north and at depth, and 3) explore newly identified targets through step-outs.

Who are American Eagle Gold's partners in the NAK project?

American Eagle Gold is partnering with South32, who provides technical team support and expertise for the drilling program.

What are the logistical advantages of AMEGF's NAK project?

The NAK project benefits from road access, low elevation, gentle terrain, and nearby infrastructure, making it logistically favorable for exploration.

When will results from AMEGF's NAK drilling program be available?

News flow from the drilling program will extend well into 2026, providing multiple catalysts for investors.