Western Alaska Minerals Corp. (TSX-V: WAM) announces that it intends to complete an unsecured loan transaction with certain lenders to the Company to be determined, pursuant to which the Company will issue promissory notes in the aggregate principal amount of up to C$1,726,920. The Loan will mature after 15 months and bear interest at rate of 10% per annum. The Loan will be repayable by the Company after 12 months.

Subject to the acceptance of the TSX Venture Exchange, the Company will also issue to the Lenders an aggregate of up to 2,698,312 bonus warrants. Each Warrant will entitle the holder to purchase one subordinate voting share of the Company at an exercise price of C$0.64 for a period of 36 months from the date of issuance.

The net proceeds of the Loan will be used to fund the filing of a US registration statement on Form S-1 for an equity financing, completion of an application to be quoted for trading on the OTCQX/QB Capital Markets and associated filing fees, and for working capital and general corporate purposes.

All securities issued in connection with the Loan will be subject to a hold period of four months and one day from the date of issuance under Canadian securities laws and restrictions on resale under the United States Securities Act of 1933, as amended.

About WAM

Western Alaska Minerals is focused on advancing North America’s next major silver and critical minerals district at the Illinois Creek CRD, a prolific 8-km mineral corridor hosting two stand-alone deposits. Anchored by the high-grade silver deposit at Waterpump Creek deposit, 75 Moz @ 980 g/t AgEq (Inferred), open to the north and south and the historic Illinois Creek mine, 525 Koz AuEq: 373 Koz @ 1.3 g/t AuEq (Indicated), 152 Koz @ 1.44 g/t AuEq (Inferred), our 100% owned carbonate replacement deposit reveals untapped potential across an expansive exploration landscape.

Within the same CRD system sits the Honker gold vein prospect. Twenty-five kilometers northeast of the Illinois Creek CRD lies the Round Top porphyry 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 cover 73,120 acres (114.25 square miles or 29,591 hectares). 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.