VANCOUVER, British Columbia, April  18, 2024  (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) ("AEMC" or the "Company") today announced that it has filed an amended Technical Report titled "Nikolai Mineral Resource Estimate Technical Report Amended and Updated" (the "Amended Report"), with an effective date of April 12th, 2024, for its 100% owned Eureka Property, Nikolai Nickel Project in Alaska, USA. On April 2nd, 2024, the Company filed a preliminary short-form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, except Quebec and Nunavut. This resulted in a review of the Canadian Securities Administration National Instrument 43-101 Standards for Mineral Projects ("NI 43-101") Technical Report filed on March 14, 2024 ("Original Report"), and the review is now complete.

The Amended Report contains no material differences, and the Mineral Resource Estimate remains unchanged from the Original Report. The Amended Report complies with the technical requirements of NI 43-101 and Form 43-101F1 (the "Form").

A summary description of the changes to the Amended Report are as follows:

• Addition of a Qualified Person who performed a site visit to the Nikolai Nickel Project in August and September of 2023 and authored Sections 1.2, 12.1, 12.3, 12.4 and 12.5.

• Clarification to ensure that the Amended Report is limited to the work, interpretations, and conclusions of the authors.

• Strengthened the sections relating to Data Verification, Sample Preparation, Analyses and Security by describing the steps and procedures taken by the authors to verify the data disclosed.

• Recommendations have been reduced from three phases to two phases of work to comply with Item 26 of the Form.

• The title page has been updated to include general location of the property and the authors names and professional designations.

Alaska Energy Metals President & CEO Gregory Beischer commented: "We are pleased that the report the Qualified Persons at Stantec prepared in February had only a few, non-material changes required by the thorough reviewers at the securities commission. The final 43-101 report gives a clear, supportable, documentation of the Mineral Resource Estimate that we have quickly established at the Nikolai project Eureka deposit in just one year of operations."

The Amended Report can be found under the Company's profile on SEDAR+ () and on Alaska Energy Metals website ().

STOCK OPTIONS
The Company confirms its previously announced intention to grant an aggregate of 275,000 stock options to a consultant who is a financial adviser to the Company, and to Sydney Knight, an investor relations professional that has recently joined the Company. The stock options were granted at a strike price of $0.195 and have a term of five years. The options granted to Sydney Knight will be subject to the TSXV mandatory vesting schedule for investor relations professionals.

QUALIFIED PERSON
Gregory Beischer, the Company's President and CEO is the qualified person who reviewed and approved the technical disclosure in this news release.