The 2024 drilling program has discovered a new “finger” or “spoke” of the Illinois Creek CRD system (see Fig 4), transforming Warm Springs from a promising geophysical target into a confirmed, large-scale prospect. Initial assays reveal distinct mineralization zones, including high-grade gold-copper and silver-lead-zinc, in thin intervals. These results validate our exploration model and underscore the project’s potential.

Drilling reveals multiple mineralization pulses in a large CRD hydrothermal system, containing gold, copper, silver, lead, and zinc. The alteration and mineralization zone is 10 times larger than Waterpump Creek, located ~8km to the north east, suggesting potential for a large CRD-style deposit.

Warm Springs displays an upper zone intense silicification, brecciations associated with massive to semi-massive pyrite associated with gold-copper mineralization and a lower zone of recrystalized ankerite associated with sphalerite (zinc) and galena (lead) mineralization. This contrasts with Waterpump Creek which displayed an upper zone of sphalerite and galena, and a lower zone of semi-massive pyrite associated with a vertical structure.

Early (circa 1982) work by Anaconda* identified the Warm Springs siliceous breccia in Illinois Creek and drilling this year has shown this zone of brecciated silica, pyrite and arsenopyrite extends 720 meter north-south as depicted in Figure 2.

“The Warm Springs drilling results this season are truly significant,” explained WAM CEO, Kit Marrs. He continued, “The results validate our hypothesis that the Illinois Creek CRD system has the potential to be huge. This first discovery of gold-copper mineralization associated with large thicknesses of silicification, multiple pulses of brecciation and mineralization and zones of massive pyrite tells us that, as we predicted, we are getting close to the center of the CRD system.  We are on to something with very large scale.  At Warm Springs we now have both scale and intervals of high-grade mineralization, a winning combination.  And this is just the start.”

Drill core samples were transported from site to the ALS Minerals laboratory in Fairbanks, Alaska for sample submission. The samples were then shipped to ALS Minerals in Reno, Nevada, for sample preparation. Analysis of samples were completed at both the Reno and the ALS Mineral’s North Vancouver laboratories, which are certified under ISO 9001 and accredited under ISO/IEC 7025.

The gold content is determined by fire assay of a 30-gram charge with an AA finish (Au-AA23). Silver, lead, copper, and zinc along with other elements are analyzed by ICP-MS utilizing a four-acid digestion (ME-MS61). Over-limit samples for silver, lead, copper, and zinc are determined by using either an ore grade four-acid digestion and ICP-ES finish (ME-OG62) or ore-grade titration analysis (VOL50 or VOL70) for very high-grade samples.

Control samples consisting of certified reference samples, duplicates, and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Qualified Person

The Qualified Person who reviewed and approved the technical disclosure in this release is Andrew West, Certified Professional Geologist, a Qualified Person as defined under National Instrument 43-101. Mr. West is the Vice President for Western Alaska Minerals with a MS in Geology and 30 years of experience in mineral resources, mine, and exploration. He is a Certified Professional Geologist with the American Institute of Professional Geologists (AIPG CP-11759).

His review verified the technical data disclosed, including geology, sampling, analytical and QA/QC data underlying this news release, including reviewing the reports of ALS, methodologies, results, and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice.

About WAM

Our mission is to advance a mineable and scalable CRD, ultimately reshaping the mineral landscape of western Alaska and establishing a new CRD district.

WAM’s CRD system encompasses a 373K oz AuEq NI 43-101-compliant indicated and 152K oz AuEq Inferred resource* at the past producing Illinois Creek gold-silver mine*, and the Waterpump Creek high-grade silver-lead-zinc deposit with an inferred resource estimate of 74.9Moz at 980 G/T AgEq*, open to the north. Within the same CRD system sits the Honker gold vein prospect. Twenty-five kilometers northeast of the Illinois Creek CRD lies the Round Top copper and the TG North CRD prospects. All prospects were originally discovered by Anaconda Minerals Co. in the early 1980’s. WAM’s 100% owned claims and uplands mining lease cover 73,120 acres (114.25 square miles or 29,591 hectares), approximately 45 km east of an ocean barge-compatible section of the Yukon River. Since 2010, WAM, along with its precursor company, Western Alaska Copper & Gold, reassembled the Anaconda land package and has been engaged in exploring the district.

Headquartered in both Alaska and Arizona, WAM brings together a team of seasoned professionals with a shared vision of pioneering new frontiers in mineral exploration. Our strategic approach is underpinned by cutting-edge technology, innovative techniques, and a deep understanding of the geological intricacies of the region.