American Eagle Extends South Zone Discovery by over 300 Metres; Returns 91 m of 1.53% CuEq Within 167 m of 1.06% CuEq

Rhea-AI Summary

American Eagle (OTCQB: AMEGF) reported December 11, 2025 drill results that expand the high-grade South Zone at the NAK copper-gold porphyry project in British Columbia.

Key highlights include NAK25-57: 91 m of 1.53% CuEq within 167 m of 1.06% CuEq and NAK25-52: 85 m of 0.92% CuEq. Combined, recent holes extend the east–west strike of the previously defined high-grade core to almost 500 metres and confirm mineralization to depths approaching 900–990 m in some holes. Company-stated CuEq uses assumed metal prices and 80% recoveries; assays have not been capped.

Positive

• NAK25-57: 91 m at 1.53% CuEq
• NAK25-57: 167 m at 1.06% CuEq
• NAK25-52: 85 m at 0.92% CuEq
• High-grade corridor expanded to ~500 m east–west strike
• High-grade mineralization confirmed at depth in multiple holes (to ~900–990 m)

Negative

• CuEq values use assumed metal prices and 80% recoveries, affecting comparability
• Assays have not been capped, which can exaggerate reported averages
• Sulphide speciation shifts to pyrite/pyrrhotite down-dip, correlating with grade decreases
• Limited testing to the north and along some strike extents leaves continuity uncertain

Key Figures

High-grade interval NAK25-57 91 m of 1.53% CuEq Within 167 m of 1.06% CuEq at South Zone

Long run NAK25-57 909 m of 0.41% CuEq From surface in South Zone hole NAK25-57

NAK25-52 high-grade 85 m of 0.92% CuEq Extends high-grade zone >200 m east

NAK25-52 long interval 347 m of 0.40% CuEq From 425–772 m downhole

NAK25-51 near-surface 103 m of 0.33% CuEq From 8–111 m testing near-surface South Zone

NAK25-50 interval 251 m of 0.29% CuEq Within 551 m of 0.19% CuEq

NAK25-54 interval 205 m of 0.15% CuEq Shallow test of NAK mineralizing system limits

QA/QC sample batch size 50 samples per batch Lab submissions with 10% QA/QC samples

Market Reality Check

$0.3673 Last Close

Volume Volume 50,344 is 1.26x the 20-day average, indicating modestly elevated trading. normal

Technical Price $0.3811 is trading below the $0.36 200-day MA and about 49.79% below the 52-week high.

Peers on Argus

Peers show mixed moves today, with names like LOMLF up 5.71% and FSXLF down 4.52%, suggesting AMEGF’s -1.87% move is more stock-specific than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 01	New zone discovery	Positive	-1.2%	New Babine stock mineralized zone with 911.82 m @ 0.30% CuEq.
Oct 07	South Zone expansion	Positive	-5.7%	Strong South Zone holes including 77 m of 1.78% CuEq and deep continuity.
Sep 25	North Zone drilling	Positive	-8.3%	73 m of 0.89% CuEq and a new area within the Porphyry Stock.
Sep 08	Program expansion	Positive	+2.0%	Third rig added and helicopter-supported phase for a 30,000 m program.
Jul 23	South Zone drilling	Positive	+1.6%	644 m of 0.50% CuEq from surface expanding near-surface South Zone.

Pattern Detected

Positive exploration updates have often been followed by negative or muted next-day price reactions, with only some events showing aligned upside.

Recent Company History

Over the last six months, American Eagle has repeatedly reported substantial copper‑equivalent intercepts and step‑outs at the NAK project. Key milestones include a near‑surface South Zone expansion on Jul 23, the addition of a third rig and a 30,000 m program by Sep 8, and new North Zone and Babine stock discoveries through Sep 25, Oct 7, and Dec 1. Despite these constructive technical results, several of these positive releases were followed by negative one‑day price reactions.

Market Pulse Summary

This announcement reports multiple high‑grade copper‑equivalent intercepts, including 91 m of 1.53% CuEq within 167 m of 1.06% CuEq and a broader 909 m of 0.41% CuEq from surface, extending the South Zone’s strike to nearly 500 m. Recent history shows a steady cadence of new zones and step‑outs at NAK. Investors may watch for follow‑up drilling, continuity at depth and surface, and how future assays refine the overall scale of the system.

Key Terms

copper equivalent (CuEq) technical

"NAK25-57 intersected 167 m of 1.06% Copper Equivalent (CuEq), including 91 m..."

Copper equivalent (CuEq) is a single-number measure that converts the value of all payable metals in an ore or deposit into the amount of copper that would be worth the same, using current metal prices and processing recoveries. Think of it as adding different coins of mixed currencies into one dollar value so investors can compare deposits, estimate potential revenue and make investment decisions more easily, noting the result depends on the price and recovery assumptions used.

porphyry technical

"its NAK copper-gold porphyry project in British Columbia, Canada."

A porphyry is a type of large, underground mineral deposit that contains valuable metals such as copper, gold, or molybdenum, often spread over a wide area. Think of it as a giant underground treasure chest, where the metals are embedded in rock formations. These deposits are important to investors because they can be the source of significant resource extraction projects with the potential for substantial economic returns.

bornite technical

"vein-hosted chalcopyrite and bornite mineralization within dark magnetite-biotite..."

Bornite is a common copper-bearing mineral that appears as metallic, often iridescent rock and is an important source of copper ore in mining. Investors care because the presence and concentration of bornite in a deposit affect how much copper can be economically extracted—similar to finding a larger bucket of usable metal in the ground—and therefore influence project value, production forecasts, and sensitivity to copper prices.

chalcopyrite technical

"consistently higher grades characterized by disseminated and vein-hosted chalcopyrite..."

Chalcopyrite is a common copper-bearing mineral (a copper-iron sulfide) that often looks brassy yellow and is the main source of mined copper worldwide. For investors, its presence and abundance in a rock deposit determine how much recoverable copper a mine can produce and how profitable extraction will be — think of chalcopyrite as the concentrated ingredient that makes an ore body valuable and worth developing.

QA/QC technical

"QA/QC and Sampling ProtocolSampling at NAK follows a rigorous methodology..."

QA/QC stands for Quality Assurance and Quality Control, processes used to ensure products or services meet certain standards. Think of it as a way to check that a product is safe and works properly before reaching consumers, similar to how a chef tastes food before serving it. For investors, strong QA/QC practices indicate a company's commitment to delivering reliable, high-quality offerings, reducing risks and building trust.

fire assay technical

"Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma..."

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

ICP-AES technical

"fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES)..."

ICP-AES (Inductively Coupled Plasma–Atomic Emission Spectroscopy) is a laboratory technique that identifies and measures the amounts of metals and other elements in a sample by turning the sample into a hot glowing gas and reading the light colors it emits—like using a prism to tell which ingredients are present and how much. Investors care because it provides reliable, quantitative proof of metal content, contamination levels or product purity, which affects resource valuation, regulatory compliance and product quality across mining, manufacturing and environmental contexts.

ICP-MS technical

"four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS)."

Inductively Coupled Plasma Mass Spectrometry (ICP-MS) is a scientific technique used to detect and measure very small amounts of metals and other elements in a sample. It works like a highly sensitive scanner, helping researchers identify the presence of specific materials with great accuracy. For investors, understanding ICP-MS is important because it highlights advanced methods used in industries such as mining, environmental testing, and manufacturing, influencing the valuation and risks of related companies.

AI-generated analysis. Not financial advice.

Highlights:

• South Zone Expansion:
  
  

  • NAK25-57 intersected 167 m of 1.06% Copper Equivalent (CuEq), including 91 m of 1.53% CuEq, within 909 m averaging 0.41% CuEq from surface; this extends the NAK25-46 discovery more than 100 m west.

  • NAK25-52 extends the high-grade NAK25-48 discovery by over 200 metres to the east, returning 85 m of 0.92% CuEq.

  • Holes -57 and -52, together, extend the east-west strike length of the zone originally defined by NAK25-48 (77 m of 1.78% CuEq within 140 m averaging 1.23% CuEq) and NAK25-46 (97 m of 0.89% CuEq) to almost 500 metres.

• The South Zone continues to demonstrate strong potential for a large, high-grade system open to expansion both at surface and at depth.

Toronto, Ontario--(Newsfile Corp. - December 11, 2025) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to report that recent drilling has expanded the high-grade South Zone at its NAK copper-gold porphyry project in British Columbia, Canada.

Drill holes NAK25-57 and NAK25-52 intersected significant intervals of high-grade mineralization, extending the high-grade South Zone discovery in NAK25-46 and NAK25-48 (news release here) to almost 500 metres in an east-west direction. The South Zone remains open along strike, with follow-up drilling already undertaken to further define its continuity and to expand it both down- and up-dip.

"These latest drill results at NAK underscore the exceptional potential of this large-scale copper-gold system," said Anthony Moreau, CEO of American Eagle. "We are defining and expanding a high-grade core at depth that appears to feed into the extensive near-surface mineralization. It is evident that high-grade mineralization is extensive at depth, and that it may show strong continuity with surface zones and thereby confirm the significance of this discovery and the NAK Project."

View Cross Section of Expanding High Grade South Zone

View Interactive 2D Map of NAK

View Interactive 3D Model of NAK

View Core Photos for Released Holes

Watch: Webinar with Anthony Moreau, Charlie Greig and Neil Prowse

NAK25-NAK25-57 Assay Results (Table 1) and Details*

Hole	From	To (m)	Length (m)	Cu %	Au g/t	Ag g/t	Mo ppm	CuEq %
NAK25-57	776	867	91	0.70	0.7	3.1	323	1.53
Within
NAK25-57	776	943	167	0.51	0.47	2.2	277	1.06
Within
NAK25-57	603	867	264	0.38	0.38	1.5	177	0.79
Within
NAK25-57	603	943	340	0.36	0.31	1.4	187	0.73
Within
NAK25-57	44	953	909	0.20	0.18	1.2	85	0.41

 

Cross Section | View Hole Location
* Copper Equivalent (CuEq) shown in Tables for drill intercepts are calculated on the basis of US$ 3.75/lb for Cu, US$ 1,900/oz for Au, US$ 25/oz for Ag and US$ 25/lb for Mo, with 80% metallurgical recoveries assumed for all metals (since it's unclear what metals will be the principal products, assuming different recoveries is premature at this stage). The formula is: CuEq = Cu % + (Au grade in g/t x (Au recovery / Cu recovery) x [Au price ÷ 31] / [Cu price x 2200]) + (Ag grade in g/t x (Ag recovery / Cu recovery) x [Ag price ÷ 31] / [Cu price x 2200] + (Mo grade in % x (Mo recovery / Cu recovery) x [Mo price x 2200] / [Cu price x 2200]). The assays have not been capped.

NAK25-57 was drilled to the west-northwest to test the continuity of mineralization to depth from a collar location approximately 400 m southeast of the near surface high-grade South Zone. Moderate grade mineralization from surface gave way abruptly at approximately 600 metres downhole to consistently higher grades characterized by disseminated and vein-hosted chalcopyrite and bornite mineralization within dark magnetite-biotite altered sandstone and conglomerate.

As the drill hole traversed farther to the west, the tenor of mineralization decreased, being characterized by an increase in the relative proportions of pyrite and pyrrhotite versus chalcopyrite.

The location of the strongest mineralization in this hole pushes the known extent of deep, high-grade mineralization over 100 m west of the strong zone intersected in NAK25-46. The zone remains open at depth to the north, where there has been little testing of what appears in part to be a sub-horizontal higher grade body.

NAK25-52 Assay Results (Table 2) and Details*

Hole	From	To (m)	Length (m)	Cu %	Au g/t	Ag g/t	Mo ppm	CuEq %
NAK25-52	687	772	85	0.66	0.15	4.0	173	0.92
Within
NAK25-52	425	772	347	0.26	0.09	1.4	97	0.40
Within
NAK25-52	11	854	843	0.14	0.05	0.8	62	0.23

 

Cross Section | View Hole Location

NAK25-52 was collared from the same location as NAK25-49, approximately 200 m south of the historical near-surface South Zone mineralization, and drilled steeply to the east. Similar to NAK25-57, the upper 425 m of the hole returned low to moderate grades, with local high-grade spikes hosted within late cross-cutting dykes and mixed fine- to coarse-grained sedimentary rocks, giving way down hole to more consistently mineralized conglomerate.

From 687 m to 772 m, mafic dyking with conspicuous irregular bornite veining and associated disseminated sulphides were consistent with the style of mineralization encountered in NAK25-48; this intercept extends the sub-horizontal zone of high-grade mineralization over 200 m to the east.

NAK25-51 Assay Results (Table 3) and Details*

Hole	From	To (m)	Length (m)	Cu %	Au g/t	Ag g/t	Mo ppm	CuEq %
NAK25-51	8	111	103	0.18	0.18	1.6	11	0.33

 

Cross Section | View Hole Location

NAK25-51 was collared from the same location as NAK25-48, and drilled shallowly to the west. It was designed, in part, to help test the eastern and northern limits to near-surface, high-grade mineralization at the historical South Zone. The hole returned an intercept of moderate grade from consistent copper- and gold-bearing vein mineralization from surface to a depth of 111 m, where more sparsely mineralized rocks of the Babine porphyry stock were encountered.

While a significant focus for the Company's 2025 drilling was toward strong mineralization at depth to the west and south of the historical South Zone, the testing of the area farther north and east was limited to short historical drill holes. The results form NAK25-51 indicate that additional potential remains for expansion of the near-surface mineralization in that direction with systematic step-out drilling.

NAK25-50 Assay Results (Table 4) and Details*

Hole	From	To (m)	Length (m)	Cu %	Au g/t	Ag g/t	Mo ppm	CuEq %
NAK25-50	131	382	251	0.21	0.03	1.0	85	0.29
Within
NAK25-50	13	564	551	0.13	0.03	0.78	48	0.19

 

Cross Section | View Hole Location

NAK25-50 was collared from the same location as NAK25-52 (see above) and was drilled shallowly to the southwest. It encountered interbedded sandstone and siltstone at the top of hole, then conglomerate between 80 and 380 m down hole, before ending in sandstone at a depth of 564 m. As is common at NAK, the strongest mineralization was hosted in the conglomerate, and it consisted of variably dense disseminations, with local matrix and/or clast replacement by chalcopyrite. As with drill hole NAK25-57 (again, see above) sulphide speciation changed as the hole traversed farther southwest, from more chalcopyrite-rich to pyrite-dominant with a concomitant decrease in grade; this gives the Company a better understanding of the limits to mineralization and the extent of the system to the south and west.

NAK25-54 Assay Results (Table 5) and Details*

Hole	From	To (m)	Length (m)	Cu %	Au g/t	Ag g/t	Mo ppm	CuEq (%)
NAK25-54	28	233	205	0.08	0.04	0.5	36	0.15

 

Cross Section | View Hole Location

NAK25-54 was collared approximately 100 m west of NAK25-15, and was drilled shallowly to the west, much like NAK25-50, and with the similar aim of further testing the limits of the NAK mineralizing system. The hole collared in sandstone that was cut by feldspar porphyritic dykes, primarily hosting disseminated pyrite, but locally exhibiting zones richer in chalcopyrite. Farther downhole, at a depth of approximately 150 m, the abundance of chalcopyrite increased, coinciding with a transition from host sandstone to conglomerate. Chalcopyrite continued as the dominant sulphide down to a depth of 233 m, where the sulphide speciation changed back to pyrite and/or pyrrhotite dominant.

Collar details for holes in this release (table 6):

Hole	UTM_Grid	UTM_East	UTM_North	Azimuth	Dip	Depth (m)
NAK25-50	NAD83_Z9	675297	6129153	225	-60	564
NAK25-51	NAD83_Z9	675506	6129443	260	-55	368
NAK25-52	NAD83_Z9	675298	6129157	90	-80	854
NAK25-54	NAD83_Z9	675112	6129214	265	-55	383
NAK25-57	NAD83_Z9	675620	6129124	270	-44	990

 

QA/QC and Sampling Protocol

Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver, copper, and molybdenum and all other major and trace elements are analyzed by four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 centimetres long and no greater than 3 metres in length. To control standard, blank, and duplicate sample frequency, and to better constrain pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples, inserted sequentially following well-mineralized samples where possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2024 program passed within 3 standard deviations of expected values. Where duplicate values differed significantly, the lower values from the resulting re-analyses were used.

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. Drilling is currently in progress, with almost the entirety of the planned 30,000-metre drill program completed, and over 40 holes drilled. Three drills are actively operating, including one helicopter-supported hole, and work is expected to be completed in mid-December.

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 $36 million in cash, bolstered by strategic investments made in the past several years, by 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

Charles Beaudry, M.Sc., P.Geo., géo. 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.

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: including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity FT Shares, the receipt of all necessary regulatory approvals in connection with the Offering, the 2025 drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the Qualifying Expenditures as anticipated by management, 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/277709

FAQ

What did American Eagle announce on December 11, 2025 for NAK (AMEGF)?

They reported drill results expanding the South Zone, including NAK25-57: 91 m of 1.53% CuEq and extension of the high-grade corridor to ~500 m strike.

How significant is the NAK25-57 intercept for AMEGF shareholders?

NAK25-57 returned a deep high-grade interval of 91 m at 1.53% CuEq, indicating a substantive high-grade core open to further expansion.

How were the CuEq numbers for AMEGF's NAK results calculated?

CuEq used assumed metal prices (Cu $3.75/lb, Au $1,900/oz, Ag $25/oz, Mo $25/lb) and 80% metallurgical recoveries for all metals.

Do AMEGF assay results at NAK include capped values or QA/QC?

Assays have not been capped; sampling followed an internal QA/QC protocol with ALS Geochemistry and standards/duplicates in batches.

Is the South Zone at NAK open for further expansion according to AMEGF?

Yes — the company reports the South Zone remains open along strike and at depth with follow-up drilling underway.