202617 releases
Alaska Silver Completes Record-Breaking 2026 Drill Program At Illinois Creek
9,496 metres were drilled across two rigs over 84 drill days at the 100%-owned Illinois Creek Project in western Alaska, exceeding the expanded 9,000-metre target and the original 6,000-metre plan, which was met in 54 drill days before a C$7,615,800 financing closed on August 17, 2026 funded the expansion. The program included 39 holes sampled (27 at Silver Sage, 12 at Waterpump Creek), 7,380 samples submitted for assay, and the deepest hole at the project at 1,288.24 metres. Assays are pending.
Drill resultsAlaska Silver Announces Transition of Aaron Schutt to CEO
Aaron Schutt became President and Chief Executive Officer of Alaska Silver effective October 1, 2026, succeeding co-founder Christopher (Kit) Marrs, who remains Executive Chairman. Schutt joined the board in May 2026 and was previously President and CEO of Doyon Limited until June 1, 2026. The Company granted 109,770 RSUs and 525,000 stock options exercisable at C$0.68 for five years, and issued 1,509,710 shares at $0.82 per share to settle outstanding management fee debt owed to officers.
ManagementAlaska Silver Announces Grant of Options
A total of 375,000 stock options were issued to certain non-executive directors under the Company's director compensation policy. Each option is exercisable at C$0.71 per share for a five-year term.
CorporateAlaska Silver Announces Closing of C$7.6 Million PIPE Financing
A C$7,615,800 (approximately US$5,480,000) PIPE financing has closed, with 13,846,910 units issued at C$0.55 per unit, each comprising one share and one warrant exercisable at C$0.75 for three years. Proceeds will fund expansion of the 2026 drilling program at the Illinois Creek Project in western Alaska from 6,000 metres to about 9,000 metres, targeting Waterpump Creek and Silver Sage, plus metallurgical work, baseline environmental studies and general corporate purposes. Crescat Capital, a 13.8% shareholder, participated, acquiring 1,830,910 shares and warrants. Final TSXV acceptance is pending.
FinancingAlaska Silver Announces C$7.6 Million PIPE Financing to Expand 2026 Drill Program to 9,000 Metres
A private investment in public equity financing of up to 13,846,910 units at C$0.55 per unit for gross proceeds of up to C$7,615,800 (about US$5,462,000) is expected to close on or about August 14, 2026, each unit comprising one common share and one warrant exercisable at C$0.75 for three years. Crescat Capital LLC, holding about 13.8% of shares, will participate. Proceeds will expand the 2026 drill program at the Illinois Creek Project in western Alaska from 6,000 to approximately 9,000 metres, targeting Waterpump Creek and Silver Sage, plus metallurgical, technical and baseline environmental work.
FinancingAlaska Silver Announces Appointment of Lance Miller as Technical Advisor
Dr. Lance Miller has been appointed Technical Advisor to Alaska Silver. Miller is Vice President of Natural Resources for NANA Regional Corporation and has more than 35 years of experience in Alaska and internationally, including roles as Chairman of the Alaska Minerals Commission and President of the Resource Development Council. Darwin Green has stepped down from the Company's Technical Committee. Alaska Silver's Illinois Creek project is in western Alaska.
ManagementAlaska Silver Announces Shareholder Meeting Results and Summer Exploration Program Update
All resolutions were approved at the annual and special general meeting held June 19, 2026, including election of six directors, appointment of Davidson & Company LLP as auditors, the Long Term Incentive Plan, and issuance of shares to insiders in settlement of debt; 26,946,579 shares, or 30.36% of outstanding, were represented. The 2026 6,000-metre exploration program at Illinois Creek, western Alaska, has completed just over 1,000 metres, with drilling at Silver Sage from June 10 and Waterpump Creek North from June 14.
CorporateAlaska Silver Announces Appointment of Aaron Schutt as CEO and Planned Retirement of Kit Marrs
Aaron Schutt will become Chief Executive Officer of Alaska Silver effective October 1, 2026, succeeding co-founder Christopher (Kit) Marrs, who resigns as President and CEO on that date. Marrs has been appointed Executive Chairman of the board effective immediately and will provide technical advice. Schutt joined the board in May 2026 and was President and CEO of Doyon Limited until his retirement on June 1, 2026.
ManagementAlaska Silver Commences 2026 Drill Program at Illinois Creek Targeting Resource Expansion and New Discoveries
A fully funded, two-rig, 6,000 metre drilling and exploration program has begun at the 100%-owned Illinois Creek Project in western Alaska, with camp mobilization underway, drillers expected next week and drilling to start soon after. Plans include roughly 2,400 m in 4–5 holes at Waterpump Creek South, 600 m in 3 holes at Waterpump Creek North, and 3,000 m in 15–20 holes at Silver Sage, plus two trenching campaigns of 10–20 trenches each at TG/TGN and the Illinois Creek corridor.
Drill resultsAlaska Silver Announces Plan for Deferred Management Fees Transaction
Agreements have been signed to settle C$1,237,962 in outstanding management fee debt owed to CEO Christopher (Kit) Marrs, VP Administration Joan Marrs and Chief Exploration Officer Joe Piekenbrock through the issuance of 1,509,710 common shares at $0.82 per share. The related-party settlement requires TSX Venture Exchange acceptance and disinterested shareholder approval at the annual general and special meeting on June 19, 2026, with shares subject to a four-month hold. Alaska Silver also granted an officer 100,000 five-year options at C$0.82.
NewsAlaska Silver Announces Appointment of Aaron Schutt as Director
Aaron Schutt, President and CEO of Doyon Limited, was appointed to Alaska Silver's board effective May 13, 2026. The company also granted 1,045,609 restricted share units to directors and officers and 960,000 stock options to directors, officers, employees and consultants, including 500,000 options to directors and officers. RSUs vest one year from the grant date, and each option is exercisable at C$0.805 per share for a five-year term.
ManagementAlaska Silver Announces Simplification of Capital Structure
Alaska Silver has eliminated proportionate voting shares as an authorized class and renamed its subordinate voting shares as Common Shares, moving to a single class structure. The change follows conversion of all outstanding proportionate voting shares into subordinate voting shares on March 9, 2026, and was approved by the board on May 6, 2026. The Common Shares are expected to begin trading on the TSX Venture Exchange under a new CUSIP (01176C208) and ISIN (CA01176C2085) at the open on May 11, 2026, with the symbol WAM unchanged.
CorporateAlaska Silver Announces 6,000-Meter 2026 Drill Program for Illinois Creek, Alaska
A fully funded summer 2026 exploration program including a minimum of 6,000 m of diamond drilling is planned for the 32,737-hectare, 100%-owned Illinois Creek silver-gold-lead-zinc and gallium project in western Alaska, using two company-owned drill rigs with simultaneous surface exploration and trenching, starting in early June. Drilling will target the Waterpump Creek deposit and the Silver Sage Zone discovered in 2025, plus scout holes on other targets. Regional field work will focus on the TG and TG North CRD prospects near the Round Top porphyry, about 20 km away.
Drill resultsAlaska Silver Files Updated NI 43-101 Technical Report for Illinois Creek Deposit
An NI 43-101 technical report supporting the updated mineral resource estimate for the Illinois Creek gold-silver deposit in Western Alaska has been filed on SEDAR+, with an effective date of January 22, 2026, prepared by Dr. Bruce Davis of BD Resource Consulting. The estimate, first announced January 22, 2026, shows indicated gold and silver ounces up 11% and 7% respectively, with inferred ounces nearly doubling. Resources are reported within an open-pit shell at a US$24/t NSR cut-off, using US$3,500/oz gold and US$45/oz silver.
Study resultsAlaska Silver Announces Decompression of Proportionate Voting Shares
All issued and outstanding proportionate voting shares will be converted into subordinate voting shares on the basis of 100 subordinate voting shares for each proportionate voting share, with a record date of March 9, 2026. The dual-class structure stemmed from the company's former foreign private issuer status, which ended January 1, 2025. About 73% of the converting PV Shares are held by ten officers, founders, directors and major shareholders who agreed to lock-ups releasing 50% at 6 months, 25% at 9 months and 25% at 12 months. Alaska Silver intends to rename the SV Shares as Common Shares at its next annual general meeting.
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