Alaska Silver Corp.

Alaska Silver Corp. announced that its subsidiary, ASUSA, has entered into a Ninth Amendment to a Promissory Note with Joe Piekenbrock, the Company's Chief Exploration Officer. The amendment effectively extends the maturity date for the remaining outstanding principal and accrued interest on the note from July 1, 2027, to July 1, 2028. The original note, issued in March 2021, had an initial principal of $3,698,000 and currently has an outstanding balance of approximately $1,073,471 as of November 1, 2026. Additionally, the company entered into a new consulting agreement with Piek Exploration LLC, revising the compensation structure for Mr. Piekenbrock's services.

Alaska Silver Corp. announced the grant of 375,000 stock options to certain non-executive directors. Each option is exercisable at C$0.71 per share for a term of five years, in line with the company's compensation policy. The company also provided an update on its Illinois Creek Project, detailing its silver, gold, zinc, and lead resources.

Alaska Silver Corp. reported a net loss of $1.73 million for Q2 2026, an increase from $1.33 million in Q2 2025. For the six months ended June 30, 2026, the net loss was $0.49 million, an improvement from $2.19 million in the prior year, primarily due to a $4.67 million non-cash gain on derivative liability revaluation. The company's cash and cash equivalents significantly decreased to $4.08 million from $9.05 million at year-end 2025, and management issued a going concern warning due to lack of operating revenue and an accumulated deficit.

Alaska Silver Corp. announced a private investment in public equity (PIPE) financing of up to C$7.6 million. The financing, priced at C$0.55 per unit, will fund a 50% expansion of its 2026 drill program at the Illinois Creek Project, increasing it to 9,000 meters. Crescat Capital LLC, a significant shareholder, will participate to maintain its ownership interest in the company.

Alaska Silver Corp. announced the appointment of Dr. Lance Miller as Technical Advisor. Dr. Miller, with over 35 years of experience in Alaska's mining industry, will provide valuable technical insight for the company's Illinois Creek project. Concurrently, Darwin Green stepped down from the Technical Committee, with the company expressing gratitude for his contributions.

Alaska Silver Corp. announced that shareholders approved all proposals at its annual general and special meeting held on June 19, 2026. Key approvals included the election of six directors, re-appointment of the auditor, approval of the Long Term Incentive Plan, and the issuance of common shares to insiders for debt settlement. The company also provided a positive update on its 6,000-meter summer exploration program at the Illinois Creek Project, with over 1,000 meters completed at high-priority targets like Silver Sage and Waterpump Creek, aiming to expand the resource base.

Alaska Silver Corp. announced the appointment of Aaron Schutt as its new Chief Executive Officer, effective October 1, 2026. Current President and CEO, Christopher Marrs, will transition to Executive Chairman of the Board immediately, ensuring continuity and providing technical guidance. Mr. Schutt, who joined the Board in May 2026, brings extensive leadership experience from Doyon Limited, where he previously served as President and CEO. His compensation package includes a $300,000 base salary, annual bonus eligibility, and 500,000 stock options.

Alaska Silver Corp. announced the commencement of its fully funded 6,000-meter 2026 drilling and exploration program at the 100%-owned Illinois Creek Project in western Alaska. The program, utilizing two rigs, aims to expand the Waterpump Creek resource, evaluate the discovery potential of the Silver Sage target, and advance several emerging exploration targets across the broader district. Additionally, the company is conducting baseline environmental and cultural studies to support future permitting and regulatory assessments.

Alaska Silver Corp. announced a plan to settle C$1,237,962 in deferred management fees owed to its CEO, VP Administration, VP Exploration, and a related entity. The company will issue 1,509,710 common shares at C$0.82 per share to convert this debt into equity, pending regulatory and disinterested shareholder approvals. Management stated this move is in the company's best interest to preserve cash for operations and strengthen the balance sheet. Additionally, the company granted 100,000 stock options to an officer.

Alaska Silver Corp. reported a net income of $1.23 million for the quarter ended March 31, 2026, a significant improvement from a net loss of $0.86 million in the prior year. This turnaround was primarily driven by a $3.07 million gain on derivative warrant liability revaluation. The company also repaid a $1.2 million promissory note, incurring a $0.45 million loss on settlement, and converted all proportionate voting shares to subordinate voting shares, eliminating its dual-class share structure.