【SMM Nickel Market】August 19, 2025 – Alaska Energy Metals Corp. (TSXV: AEMC, OTCQB: AKEMF) announced an amendment to its Option Agreement for the Canwell claim block, part of the Nikolai Nickel Project in Alaska. Key changes include:

Elimination of the remaining US$1.9 million exploration expenditure requirement;

Deferral of the final US$150,000 option payment (inflation-adjusted) to September 1, 2026;

Issuance of 2 million AEMC shares to the owner, plus 1 million shares already due under the original 2025 schedule.

President & CEO Gregory Beischer noted that Canwell hosts rich surface occurrences of nickel, copper, and platinum group elements, and the amendment clears the path to 100% ownership of the block without the burden of further mandatory expenditures. Exploration will continue as market conditions allow.

The Canwell claims are separate from AEMC’s flagship Eureka block, which contains a large disseminated polymetallic nickel deposit in Interior Alaska.