Alaska Silver Corp. (TSX-V: WAM) is pleased to announce pricing of its previously announced offering of units of the Company.

Pursuant to the Offering, the Company will offer 18,460,000 Units at a price of US$0.65 per Unit for gross proceeds of approximately US$12 million. Each Unit will consist of one subordinate voting share and one subordinate voting share purchase warrant. Each Warrant will be exercisable for one subordinate voting share of the Company at US$0.97 until the date which is three years from the closing date of the Offering.

Cantor Fitzgerald & Co. is acting as the lead book-running manager for the Offering on behalf of a syndicate of underwriters. Cantor Fitzgerald Canada Corporation will act as an agent for the sale of any Company securities in the Offering in Canada. The Company has granted Cantor an option, exercisable in full or in part up to 30 days after the pricing of the Offering, to offer for sale up to an additional 15% of the number of Units sold pursuant to the Offering.

The net proceeds of the Offering will be used to fund the Company’s mineral exploration activities, to repay certain outstanding debt and for general working capital purposes.

Closing of the Offering is expected to occur on or about October 3, 2025 and is subject to customary conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The Offering will be completed (i) in each of the Provinces and Territories of Canada, except for Quebec, in reliance on the “listed issuer financing” exemption from the prospectus requirements available under Part 5A.2 of National Instrument 45-106 – Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, and pursuant to the public offering exemption available under BC Instrument 72-503 – Distribution of Securities outside British Columbia; (ii) in the United States pursuant a prospectus that forms a part of an effective registration statement filed with the Securities and Exchange Commission; and (iii) in such other jurisdictions other than Canada and the United Sates pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, provided that no prospectus filing or comparable obligation, ongoing reporting or continuous disclosure requirement or requisite regulatory or governmental approval arises in such jurisdictions.

There is an amended and restated offering document related to the Offering that can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.alaskasilver.com. Prospective investors should read this Offering Document before making an investment decision concerning the Units.

The Offering will be made in the U.S. only by means of a prospectus forming a part of the registration statement. A copy of the preliminary prospectus related to the Offering may be obtained from Cantor Fitzgerald & Co., 110 East 59th Street, New York, NY 10022, or via email at prospectus@cantor.com or telephone at 212-938-5000. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

The Company has also agreed to issue to the underwriters warrants to purchase up to a number of subordinate voting shares equal to 4.0% of the Units sold in the Offering. Each Underwriters’ Warrant shall entitle the holder thereof to acquire one subordinate voting share of the Company at US$0.97 beginning on the date which is 180 days after the pricing of the Offering until the date which is 18 months after the pricing of the Offering.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations or sales would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Alaska Silver 

Alaska Silver is one of the pioneers of North America’s next major silver and critical minerals district at the Illinois Creek Project, a prolific 8-km mineral corridor hosting two stand-alone deposits with a new Warm Springs discovery zone in between. The claims of the IC project cover a 100% owned land package of 73,535 acres (115 square miles or 29,758 hectares), located approximately 38 kilometers from the region’s marine highway, the Yukon River.

“Kit Marrs”

Kit Marrs
President & CEO
Phone: (520) 200-1667
kit@alaskasilver.com

Patrick Donnelly
Executive Vice President
pat@alaskasilver.com

Or visit our website at: www.alaskasilver.com