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Alaksa Silver: President’s Letter
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
We were also pleased to recently update our resource estimate for Illinois Creek (see news release of January 22, 2026) which now includes:
- 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
Our focus going forward is clear: unlock the hidden value within this system and continue to build scale, confidence, and optionality across the entire district.
Community Relations
As we begin to implement our 2026 summer field season work, we want to extend our sincere gratitude to our stakeholders and friends in Alaska; especially the local communities of Kaltag, Nulato, Koyukuk, and Galena, whose members today continue to travel and practice subsistence activities, as did their historical ancestors, all along the Yukon River corridor. We are deeply committed to operating in a way that respects Athabaskan culture, traditions, and subsistence practices.Our Board of Directors has a new member, Aaron Schutt, the current CEO (though soon to retire) of Doyon, Ltd. As an enrolled member of the Tanana Tribe, Aaron has a strong historical connection to our local region where his family has lived and worked. He joins our team wanting to stimulate economic opportunities for rural Native Alaskans, specifically in our region. He views our project as an exceptional opportunity for rural economic development.
CEO, Kit Marrs, with tribal visitors from nearby Nulato
We are proud that our work is already creating real local opportunity and consider Aaron’s appointment as another way to strengthen those initiatives. Many young people from nearby villages have played an important role in our progress to date, and we intend to expand those opportunities significantly during the upcoming field season.
Looking Ahead
We are entering a pivotal phase for Alaska Silver; technically, operationally, and strategically. With a fully funded exploration program, multiple high-priority targets, and a district-scale opportunity set, we believe 2026 has the potential to be a breakout year.
We thank you for your continued support and look forward to updating you as the season unfolds.
Best regards,
Kit Marrs
President and CEO
Alaska Silver
Posted May 22, 2026
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