Dear Shareholders, Partners, and Neighbors,

I want to begin by thanking you for your continued support as we continue to grow and gear up for this year’s drilling season.

As we navigate a transformative year for Alaska Silver USA Corp, I am pleased to share how our recent milestones and our plans for 2026 are aligning with a historic shift in the global silver market.

A Defining Year for Alaska Silver

We are now in the final stages of preparation for what will be a fully funded and highly active 2026 summer exploration program, set to commence in late May. This season will include approximately 6,000 meters of diamond drilling, focused on both the northern and southern extensions of the Waterpump Creek deposit. Waterpump Creek is already recognized as one of the highest silver-equivalent grade deposits held by a junior mining company, but this is only part of the story.

Expanding the Discovery Pipeline

We will also be aggressively advancing drilling at the Silver Sage prospect; a compelling grassroots discovery made last year. Silver Sage emerged from systematic follow-up on a historical soil geochemical anomaly, where our team trenched into a significant high-grade silver-lead system that included standout intercepts such as:

• 1,235 g/t silver with 65% lead
• 1,135 g/t silver with 73% lead

These are the kinds of grades that speak for themselves—and we believe we are only scratching the surface. As Dr. Peter Megaw, one of our technical advisors, would say to us “We need to remember that we are still looking for the rest of this huge octopus’s legs. We know he has more than one!”

A District-Scale Opportunity

Across our 80,895-acre (32,737-hectare) land package, we will also maintain a strong “boots-on-the-ground” exploration effort, including mapping, rock and soil sampling, and trenching. Our goal is simple: systematically test for additional high-grade silver systems across a district that is already demonstrating exceptional scale. As a reminder, the Illinois Creek Project is a carbonate replacement system, an important geological setting known for hosting multiple high-grade deposits of silver, gold, lead, zinc, and copper. Even more compelling, our system also contains gallium, a critical mineral increasingly recognized as strategically important to the United States.

Illinois Creek Camp and Airstrip – A District-Scale Opportunity

Resource Growth and Value Creation

• Indicated: 260,000 ounces of gold and 8.3 million ounces of silver
• Inferred: 290,000 ounces of gold and 10.4 million ounces of silver

Community Relations

CEO, Kit Marrs, with tribal visitors from nearby Nulato