Highlights:

• NAK26-89 returned 411 metres of 0.43% copper equivalent (CuEq) from 47 metres downhole, within a broader interval of 880 metres of 0.30% CuEq, with mineralization remaining open.
• NAK26-89 connects with NAK25-62’s 140 metres of 0.74% CuEq, extending near-surface mineralization 250 metres east of the South Zone and beyond the currently defined zones.
• The hole is this drill season’s first test of the southern margin of the Babine porphyry stock, among the least-drilled and most prospective ground at NAK.
• One of the Company’s three drill rigs is now dedicated to this area, with multiple step-outs planned along the southern stock margin.
• Six drill holes totalling 5,305 metres have been assayed and reported this season. The Company has completed 18 holes of a planned 80-hole, 55,000-metre program, with three rigs turning continuously through to at least April 2027.

American Eagle Gold Corp. (TSX-V: AE) (OTCQB: AMEGF) reports 411 metres of 0.43% CuEq from 47 metres downhole in NAK26-89, within a broader interval of 880 metres of 0.30% CuEq.

The hole is the season’s first test of the southern margin of the Babine porphyry stock. Drilling in this part of the property has been limited. It is among the least-tested ground at NAK and, in the Company’s view, among the most prospective, with the potential to further change the scale of the deposit and the direction of the Company’s exploration.

NAK26-89 followed up NAK25-62, which returned 140 metres of 0.74% CuEq from 124 metres downhole (View Jan 15, 2026 NR Here). Mineralization was continuous through the first 450 metres, with narrower high-grade intervals throughout the remainder of the hole down to 927 metres.

Significance of the new Southern Stock Zone Area

NAK26-89 is the 2026 season’s first test of the sparsely drilled but highly prospective volume of rock along the southern margin of the Babine porphyry stock, southeast of the main drilled area. The hole showed excellent continuity of mineralization through the first 450 metres of drilling and continued to show numerous narrower high-grade intercepts to a depth of 927 metres. Its near-surface mineralization forms a close spatial link to that of the South Zone, immediately to the northwest. The goal of the drilling that follows is to demonstrate continuity from the Main Zone through the South Zone and into the ground east and south of the stock. NAK26-89 was a positive first step in this direction.

American Eagle has dedicated one of its three rigs to the ground south of the stock for the foreseeable future. The first target is an immediate follow-up to NAK23-09, the “Teck Hole” drilled in 2023. Based on NAK26-89 and the holes drilled late in the 2025 season, the Company’s current interpretation is that the southern margin of the porphyry stock is directly analogous to the western margin, where most of the Company’s drilling has taken place. Similar host rocks and the same varied suite of mineralizing dykes are present, indicating that there is equal potential to host broad-scale mineralization and higher-grade sub-zones.

“NAK26-89 is exactly the type of hole we want to be drilling as we work to expand and connect the near-surface zones at NAK. One of our priorities this year is to determine how much continuity exists beyond the currently defined South Zone, particularly into the lightly drilled ground to the east and south of the stock. If we can connect these areas into a broader near-surface mineralized system, it could materially increase the scale and geometry of what we already know is there. NAK26-89 is an important step in testing that thesis and gives us a clear direction for follow-up drilling,” said Anthony Moreau, Chief Executive Officer of American Eagle Gold.

NAK26-89

NAK26-89 was drilled to follow up the strong near-surface mineralization encountered in NAK25-62. The hole was drilled easterly, along the southern margin of the Babine stock. It collared into a mixed package of dark, biotite-magnetite-altered sedimentary rocks consisting dominantly of coarse pebbly volcaniclastic-derived sandstone and fine-grained massive sandstone. At a depth of 450 metres, the hole transitioned to fine siltstone and sandstone with lenses of thinly bedded, distorted siltstone, which remained the dominant lithology to the end of the hole. Mineralization was very strong within the upper mixed sedimentary package, comprising consistent fracture coatings, patchy disseminations, and strongly mineralized anastomosing veinlets of chalcopyrite with subordinate bornite. Within the underlying siltstone, chalcopyrite mineralization was more punctuated, largely concentrated within coarse veining and local zones of select bed replacement. As is common at NAK, pyrrhotite increases in abundance with depth within the inferred more calcareous sedimentary protolith of the deeper fine-grained units. Mineralization in NAK26-89 remains open to the east.

NAK26-89 Assay Results (Table 1)*

* Copper Equivalent (CuEq) values shown in the tables for drill intercepts are calculated on the basis of US$4.50/lb for Cu, US$3,375/oz for Au, US$60/oz for Ag, and US$25/lb for Mo, with 80% metallurgical recoveries assumed for all metals (since it is 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 x 1%]) + (Ag grade in g/t x (Ag recovery / Cu recovery) x [Ag price ÷ 31] / [Cu price x 2200 x 1%]) + (Mo grade in % x (Mo recovery / Cu recovery) x [Mo price] / [Cu price]). The assays have not been capped. The reported intervals represent drill intercepts, and insufficient data are currently available to state the true thickness of the mineralized intervals.

Drill Hole Collar Details (Table 2)

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. Silver, copper, molybdenum, and all other major and trace elements are analyzed by four-acid digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than 3 m 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.

About American Eagle Gold Corp.

American Eagle is advancing the NAK copper-gold porphyry project in British Columbia’s Babine Porphyry District, located 4.5 km north of the Hearne Hill South Property. The Company is backed by approximately $50 million in cash and four cornerstone strategic shareholders. American Eagle is currently conducting an approximately 55,000-metre drill program, expected to run through April 2027, with three rigs operating continuously across the seasons. Approximately 80 drill holes are planned, and the goal for the season is to significantly expand tonnage while both extending known high-grade zones and discovering new ones. The Company is funded for multiple years from cash on hand, with the current program designed to support future technical studies and demonstrate the viability of NAK as a mine within the current metal cycle.

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., a Certified Professional Geologist and an independent “qualified person” for the purposes of NI 43-101, has verified and approved the technical information contained in this news release.