{"success":true,"data":{"pressRelease":{"id":"164053","rtpr_id":"nNFC4K29rW-20261008","ticker":"WAM","exchange":"","all_tickers":["WAM"],"title":"Alaska Silver Completes Record-Breaking 2026 Drill Program at Illinois Creek","author":"Newsfile Corp","published_at":"2026-10-08T11:00:38.099Z","article_body":"Tucson, Arizona--(Newsfile Corp. - October 8, 2026) - Alaska Silver\nCorp. (TSXV: WAM) (OTCQX: WAMFF) (the \"Company\" or \"Alaska Silver\") is\npleased to announce the successful completion of its 2026 drill program at the\nCompany's 100%-owned Illinois Creek Project (\"Illinois Creek\" or the\n\"Project\") in western Alaska. The 2026 season was the most productive,\nefficient, and safe drilling season in the Company's history.\n\n2026 Drill Season Highlights:\n*\nA total of 9,496 metres (See Table 1) drilled across two drill rigs. This\nexceeded the Company's expanded 9,000-metre program target, and was well above\nthe original January 2026 plan of 6,000 metres over 90 drill days;\n*\nThe original 6,000-metre program was completed in just 54 drill days. Given\nthis accelerated productivity, the Company closed a C$7,615,800 financing on\nAugust 17, 2026 to expand the program to 9,000 metres;\n*\nProgram completed in 84 drill days, six days ahead of the original 90-day\nplan, despite the second rig beginning four days after the first;\n*\nA combined average drill rate of 112.9 metres per day (56.5 metres per rig per\nday), exceeding the planned rate of 45 metres per rig per day by more than\n25%;\n*\nRecord single-shift performances of 217.58 metres on June 26, 2026 and 206.66\nmetres on August 8, 2026. These were the two highest metres-per-day totals\nrecorded at the Project;\n*\nCompletion of the deepest hole ever drilled at Illinois Creek, reaching a\ntotal depth of 1,288.24 metres; and\n*\nZero lost-time incidents, zero reportable safety incidents, and zero rig\ndowntime for the entirety of the season.\n\nAaron Schutt, Chief Executive Officer of Alaska Silver, added, \"This was a\ntruly exceptional season for our exploration team led by our Principal\nGeologist, Sage Langston-Stewart. Our crews not only exceeded every production\ntarget we set but they did so while maintaining a perfect safety record and\npushing our deepest hole ever drilled at Illinois Creek. We are grateful for\ntheir diligence and look forward to receiving assay results in the coming\nweeks. The consistency and discipline shown by both drill crews this season\nsets a new benchmark for the Project.\"\n\n Drill Rig               Metres Drilled  (9000m Planned)  Average Drill Production/day  (45m/day Planned)  Average m/day over % Planned  % of Season           \n                                                                                                                                         Drilling  Completed   \n HD-1 (Silver Sage)      5,022.49                         62.0                                             138%                          53%                   \n HD-2 (Waterpump Creek)  4,473.41                         52.6                                             117%                          47%                   \n Total                   9,495.90                         57.3                                             129%                          100%                  \n\n \n\nTable 1. A breakdown of drill production by rig, measured against the\nCompany's 2026 plan.\n\nDrilling began on June 10, 2026, with rig HD-1 at the Company's Silver Sage\ntarget (Figure 1), followed by rig HD-2 at Waterpump Creek on June 14, 2026.\nThe program was originally planned as a 6,000-metre drill program, and that\ntarget was reached in just 54 drill days, well ahead of schedule. Given the\nhigh level of productivity, the Company closed a C$7,615,800 (approximately\nUS$5,480,000) PIPE (private investment in public equity) financing on August\n17, 2026. The proceeds were used, in part, to expand the drill program to a\n9,000-metre target (see news release dated August 17, 2026).\n\nAssay results from the 2026 drill program are pending and will be released as\nthey are received, reviewed, and interpreted by the Company's technical team.\n\n(https://images.newsfilecorp.com/files/7510/318056_46004f9bc44a4837_001full.jpg)\n\nFigure 1. Illinois Creek Spoke Model Regional Map\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/7510/318056_46004f9bc44a4837_001full.jpg\n\n2026 Drill Core Samples and Illinois Creek Mine Bulk Sample\n\nIn total, 39 drill holes were sampled during the 2026 field season; 27 at the\nSilver Sage zone and 12 at the Waterpump Creek zone. All logging, core\ncutting, and sampling was completed on September 12, 2026. Final shipment of\nsamples was sent out from camp on September 23, 2026. The program generated\n6,753 drill core samples weighing approximately 54,600 lbs (24.8 tonnes).\nThese were shipped to ALS Global for sample preparation in Mexico, followed by\nanalysis in Reno or Vancouver. Including the soil, trench and environmental\nsamples collected during the season, a total of 7,380 samples weighing\napproximately 55,900 lbs (25.3 tonnes) were submitted for assay.\n\nDuring the 2026 field season, company geologists collected more than 2,000 lbs\nof material along a 200-metre section of the Illinois Creek past-producing\nmine main pit for metallurgical testing. This one-ton sample was designed to\nrepresent the resource as a whole and the metallurgical testing will help\ndetermine how much silver, gold, and copper can be recovered from the sampled\nmaterial and what processing method would work best. Recovery rates have a\ndirect effect on a project's potential economics, and this testing will\nprovide important information toward a possible Preliminary Economic\nAssessment (PEA).\n\nThis large bulk sample is destined for Kappes, Cassiday & Associates (KCA), an\nindependent metallurgical laboratory in Reno, Nevada. KCA will design a\nprocessing approach that recovers copper while maximizing silver and gold\nrecoveries. Separately, a series of smaller samples was sent to ALS to build a\nmodern, detailed chemical profile of the deposit. This will support both\nmetallurgical work and future exploration. Together, these results will\nprovide key inputs for evaluating the Illinois Creek Mine's development\npotential. Results are pending.\n\nQualified Person\n\nPatrick Donnelly, P.Geo., Executive Vice President of Alaska Silver and a\nQualified Person as defined by National Instrument 43-101 - Standards of\nDisclosure for Mineral Projects, has reviewed and approved the scientific and\ntechnical information contained in this news release.\n\nAbout Alaska Silver\n\nAlaska Silver is a junior exploration company focused on the discovery and\ndevelopment of high-grade silver, gold and critical metals assets within one\nof North America's major high-grade silver and critical minerals districts at\ntheir Illinois Creek (IC) Project in western Alaska. Illinois Creek is a\ncontiguous, 100%-owned land package totaling 80,895 acres (126.40 square miles\nor 32,337 hectares) anchored by two resource-level mineralization zones\nseparated by 8 km of high potential exploration ground. The high-grade silver\nmineralization at the Waterpump Creek zone, which hosts an Inferred Mineral\nResource of 75 Moz AgEq at a grade of 279 g/t silver, 11.28 % zinc and 9.87%\nlead¹(,) ² remains open to the north and south. At the western end is the\npast producing Illinois Creek Mine that closed due to low metal prices in\n1998, leaving untouched Indicated Mineral Resources of 260,000 oz gold at 0.92\ng/t Au and 8.3 Moz silver at 29.72 g/t Ag, along with Inferred Mineral\nResources of 290,000 oz gold at 0.84 g/t Au and 10.4 Moz silver at 30.11 g/t\nAg(2, 3). The IC Project is located approximately 38 kilometers from the Yukon\nRiver, the region's primary marine transportation corridor. Headquartered in\nAlaska and Arizona, Alaska Silver is led by a team with a proven track record\nof large-scale mine discoveries.\n\n(1)For Waterpump Creek, the formulas for AgEq are AgEq (g/t)= Ag (g/t) + 28.56\nx Pb(%) + 37.12 x Zn(%) and assume metal prices of US$24/oz Ag, US$1.30/lb Zn,\nand US$ 1.00/lb Pb.2\n\n(2)Please refer to the NI 43-101 Technical Report titled \"Illinois Creek\nProject, Western Alaska, USA\" dated February 25, 2026 (effective date of\nJanuary 22, 2026).\n\n(3)For Illinois Creek, AuEq values are based only on gold and silver values\nusing metal prices of US$3,500/oz Au and US$45/oz Ag.\n\nOn behalf of the Company,\n\n\"Aaron Schutt\"\nAaron Schutt\nChief Executive Officer and Director\ninfo@alaskasilver.com\n\nFor further information, please contact:\n\nPatrick Donnelly\nExecutive Vice President\npat@alaskasilver.com\nPhone: 1-520-200-1667\n\nOr visit our website at: www.alaskasilver.com\n\nNeither the TSXV nor its Regulation Services Provider (as that term is defined\nin the policies of the TSXV) accepts responsibility for the adequacy or\naccuracy of this release.\n\nForward-Looking Information\n\nThis news release contains \"forward-looking information\" within the meaning of\napplicable Canadian securities legislation. \"Forward-looking information\"\nincludes, but is not limited to, statements with respect to the activities,\nevents or developments that the Company expects or anticipates will or may\noccur in the future. Generally, but not always, forward-looking information\ncan be identified by the use of words such as \"plans\", \"expects\", \"is\nexpected\", \"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\",\n\"anticipates\", or \"believes\" or the negative connotation thereof or variations\nof such words and phrases or state that certain actions, events or results\n\"may\", \"could\", \"would\", \"might\" or \"will be taken\", \"occur\" or \"be achieved\"\nor the negative connotation thereof. This forward-looking information relates\nto, among other things, ongoing and anticipated exploration work at the\nIllinois Creek Project; the anticipated timing of assay results and the\nexpected results therefrom; the potential for an entirely new area of\nmineralization at Silver Sage; the potential continuity of the CRD property;\nthe implementation of the objectives, goals and future plans of the Company\nincluding the proposed advancement of the Illinois Creek Project as currently\ncontemplated; the expectation that exploration activities (including drill\nresults) will accurately predict mineralization; the expectation that the\nCompany will implement its drilling, geoscience and metallurgical work on its\nproperties and work plans generally; the effective targeting activities\nproposed by the Company; the benefits of the Company's approach to\nexploration; and the anticipated benefits of the Company's approach to the\nresource development plan.\n\nSuch forward-looking information is based on numerous assumptions, including\namong others, that exploration work at the Illinois Creek Project will occur\nas anticipated; assay results will be received when anticipated; Silver Sage\nwill represent an entirely new area of mineralization; the CRD property will\nexhibit the anticipated continuity; the Company will be able to implement its\nobjectives, goals and future plans, including the proposed advancement of the\nIllinois Creek Project as currently contemplated; exploration activities\n(including drill results) will accurately predict mineralization; the Company\nwill be able to implement its drilling, geoscience and metallurgical work on\nits properties and work plans generally; the targeting activities proposed by\nthe Company will be effective; and the Company's approach to exploration will\nresult in the expected benefits. Although the assumptions made by the Company\nin providing forward-looking information is considered reasonable by\nmanagement at the time, there can be no assurance that such assumptions will\nprove to be accurate and actual results and future events could differ\nmaterially from those anticipated in such information.\n\nImportant factors that could cause actual results to differ materially from\nthe Company's plans or expectations include: the risk that exploration work at\nthe Illinois Creek Project will not occur as anticipated; the risk that assay\nresults will not be received when anticipated; the risk that Silver Sage will\nnot represent a new area of mineralization as anticipated; the risk that the\nCRD property will not exhibit the anticipated continuity; the risk that the\nCompany will not be able to implement its objectives, goals and future plans,\nincluding the proposed advancement of the Illinois Creek Project as currently\ncontemplated; the risk that exploration activities (including drill results)\nwill not accurately predict mineralization; the risk that Company will not be\nable to implement its drilling, geoscience and metallurgical work on its\nproperties and work plans generally; the risk that the targeting activities\nproposed by the Company will not be effective; the risk that the Company's\napproach to exploration will not result in the expected benefits; risks\nrelated to market conditions and metal prices; delays in obtaining or failures\nto obtain required governmental, environmental or other project approvals;\nuncertainties relating to the availability and costs of financing needed in\nthe future; changes in equity markets; inflation; fluctuations in commodity\nprices; the other risks involved in the mineral exploration and development\nindustry; and those risks set out in the Company's public disclosure record on\nSEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Although the\nCompany has attempted to identify important factors that could cause actual\nresults to differ materially from those contained in the forward-looking\ninformation or implied by forward-looking information, there may be other\nfactors that cause results not to be as anticipated, estimated or intended.\nThere can be no assurance that forward-looking information will prove to be\naccurate, as actual results and future events could differ materially from\nthose anticipated, estimated or intended. Accordingly, readers should not\nplace undue reliance on forward-looking information. Readers are cautioned\nthat reliance on such information may not be appropriate for other purposes.\nThe Company does not undertake to update any forward-looking information or\nfinancial outlook that are incorporated by reference herein, except in\naccordance with applicable securities laws. Any forward-looking information\ncontained in this news release is expressly qualified in their entirety by\nthis cautionary statement. We seek safe harbor.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/318056","article_body_html":"","raw_payload":{"data":{"id":"nNFC4K29rW-20261008","title":"Alaska Silver Completes Record-Breaking 2026 Drill Program at Illinois Creek","author":"Newsfile Corp","ticker":"WAM","created":"2026-10-08T11:00:38.099Z","tickers":["WAM"],"exchange":"","article_body":"Tucson, Arizona--(Newsfile Corp. - October 8, 2026) - Alaska Silver\nCorp. (TSXV: WAM) (OTCQX: WAMFF) (the \"Company\" or \"Alaska Silver\") is\npleased to announce the successful completion of its 2026 drill program at the\nCompany's 100%-owned Illinois Creek Project (\"Illinois Creek\" or the\n\"Project\") in western Alaska. The 2026 season was the most productive,\nefficient, and safe drilling season in the Company's history.\n\n2026 Drill Season Highlights:\n*\nA total of 9,496 metres (See Table 1) drilled across two drill rigs. This\nexceeded the Company's expanded 9,000-metre program target, and was well above\nthe original January 2026 plan of 6,000 metres over 90 drill days;\n*\nThe original 6,000-metre program was completed in just 54 drill days. Given\nthis accelerated productivity, the Company closed a C$7,615,800 financing on\nAugust 17, 2026 to expand the program to 9,000 metres;\n*\nProgram completed in 84 drill days, six days ahead of the original 90-day\nplan, despite the second rig beginning four days after the first;\n*\nA combined average drill rate of 112.9 metres per day (56.5 metres per rig per\nday), exceeding the planned rate of 45 metres per rig per day by more than\n25%;\n*\nRecord single-shift performances of 217.58 metres on June 26, 2026 and 206.66\nmetres on August 8, 2026. These were the two highest metres-per-day totals\nrecorded at the Project;\n*\nCompletion of the deepest hole ever drilled at Illinois Creek, reaching a\ntotal depth of 1,288.24 metres; and\n*\nZero lost-time incidents, zero reportable safety incidents, and zero rig\ndowntime for the entirety of the season.\n\nAaron Schutt, Chief Executive Officer of Alaska Silver, added, \"This was a\ntruly exceptional season for our exploration team led by our Principal\nGeologist, Sage Langston-Stewart. Our crews not only exceeded every production\ntarget we set but they did so while maintaining a perfect safety record and\npushing our deepest hole ever drilled at Illinois Creek. We are grateful for\ntheir diligence and look forward to receiving assay results in the coming\nweeks. The consistency and discipline shown by both drill crews this season\nsets a new benchmark for the Project.\"\n\n Drill Rig               Metres Drilled  (9000m Planned)  Average Drill Production/day  (45m/day Planned)  Average m/day over % Planned  % of Season           \n                                                                                                                                         Drilling  Completed   \n HD-1 (Silver Sage)      5,022.49                         62.0                                             138%                          53%                   \n HD-2 (Waterpump Creek)  4,473.41                         52.6                                             117%                          47%                   \n Total                   9,495.90                         57.3                                             129%                          100%                  \n\n \n\nTable 1. A breakdown of drill production by rig, measured against the\nCompany's 2026 plan.\n\nDrilling began on June 10, 2026, with rig HD-1 at the Company's Silver Sage\ntarget (Figure 1), followed by rig HD-2 at Waterpump Creek on June 14, 2026.\nThe program was originally planned as a 6,000-metre drill program, and that\ntarget was reached in just 54 drill days, well ahead of schedule. Given the\nhigh level of productivity, the Company closed a C$7,615,800 (approximately\nUS$5,480,000) PIPE (private investment in public equity) financing on August\n17, 2026. The proceeds were used, in part, to expand the drill program to a\n9,000-metre target (see news release dated August 17, 2026).\n\nAssay results from the 2026 drill program are pending and will be released as\nthey are received, reviewed, and interpreted by the Company's technical team.\n\n(https://images.newsfilecorp.com/files/7510/318056_46004f9bc44a4837_001full.jpg)\n\nFigure 1. Illinois Creek Spoke Model Regional Map\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/7510/318056_46004f9bc44a4837_001full.jpg\n\n2026 Drill Core Samples and Illinois Creek Mine Bulk Sample\n\nIn total, 39 drill holes were sampled during the 2026 field season; 27 at the\nSilver Sage zone and 12 at the Waterpump Creek zone. All logging, core\ncutting, and sampling was completed on September 12, 2026. Final shipment of\nsamples was sent out from camp on September 23, 2026. The program generated\n6,753 drill core samples weighing approximately 54,600 lbs (24.8 tonnes).\nThese were shipped to ALS Global for sample preparation in Mexico, followed by\nanalysis in Reno or Vancouver. Including the soil, trench and environmental\nsamples collected during the season, a total of 7,380 samples weighing\napproximately 55,900 lbs (25.3 tonnes) were submitted for assay.\n\nDuring the 2026 field season, company geologists collected more than 2,000 lbs\nof material along a 200-metre section of the Illinois Creek past-producing\nmine main pit for metallurgical testing. This one-ton sample was designed to\nrepresent the resource as a whole and the metallurgical testing will help\ndetermine how much silver, gold, and copper can be recovered from the sampled\nmaterial and what processing method would work best. Recovery rates have a\ndirect effect on a project's potential economics, and this testing will\nprovide important information toward a possible Preliminary Economic\nAssessment (PEA).\n\nThis large bulk sample is destined for Kappes, Cassiday & Associates (KCA), an\nindependent metallurgical laboratory in Reno, Nevada. KCA will design a\nprocessing approach that recovers copper while maximizing silver and gold\nrecoveries. Separately, a series of smaller samples was sent to ALS to build a\nmodern, detailed chemical profile of the deposit. This will support both\nmetallurgical work and future exploration. Together, these results will\nprovide key inputs for evaluating the Illinois Creek Mine's development\npotential. Results are pending.\n\nQualified Person\n\nPatrick Donnelly, P.Geo., Executive Vice President of Alaska Silver and a\nQualified Person as defined by National Instrument 43-101 - Standards of\nDisclosure for Mineral Projects, has reviewed and approved the scientific and\ntechnical information contained in this news release.\n\nAbout Alaska Silver\n\nAlaska Silver is a junior exploration company focused on the discovery and\ndevelopment of high-grade silver, gold and critical metals assets within one\nof North America's major high-grade silver and critical minerals districts at\ntheir Illinois Creek (IC) Project in western Alaska. Illinois Creek is a\ncontiguous, 100%-owned land package totaling 80,895 acres (126.40 square miles\nor 32,337 hectares) anchored by two resource-level mineralization zones\nseparated by 8 km of high potential exploration ground. The high-grade silver\nmineralization at the Waterpump Creek zone, which hosts an Inferred Mineral\nResource of 75 Moz AgEq at a grade of 279 g/t silver, 11.28 % zinc and 9.87%\nlead¹(,) ² remains open to the north and south. At the western end is the\npast producing Illinois Creek Mine that closed due to low metal prices in\n1998, leaving untouched Indicated Mineral Resources of 260,000 oz gold at 0.92\ng/t Au and 8.3 Moz silver at 29.72 g/t Ag, along with Inferred Mineral\nResources of 290,000 oz gold at 0.84 g/t Au and 10.4 Moz silver at 30.11 g/t\nAg(2, 3). The IC Project is located approximately 38 kilometers from the Yukon\nRiver, the region's primary marine transportation corridor. Headquartered in\nAlaska and Arizona, Alaska Silver is led by a team with a proven track record\nof large-scale mine discoveries.\n\n(1)For Waterpump Creek, the formulas for AgEq are AgEq (g/t)= Ag (g/t) + 28.56\nx Pb(%) + 37.12 x Zn(%) and assume metal prices of US$24/oz Ag, US$1.30/lb Zn,\nand US$ 1.00/lb Pb.2\n\n(2)Please refer to the NI 43-101 Technical Report titled \"Illinois Creek\nProject, Western Alaska, USA\" dated February 25, 2026 (effective date of\nJanuary 22, 2026).\n\n(3)For Illinois Creek, AuEq values are based only on gold and silver values\nusing metal prices of US$3,500/oz Au and US$45/oz Ag.\n\nOn behalf of the Company,\n\n\"Aaron Schutt\"\nAaron Schutt\nChief Executive Officer and Director\ninfo@alaskasilver.com\n\nFor further information, please contact:\n\nPatrick Donnelly\nExecutive Vice President\npat@alaskasilver.com\nPhone: 1-520-200-1667\n\nOr visit our website at: www.alaskasilver.com\n\nNeither the TSXV nor its Regulation Services Provider (as that term is defined\nin the policies of the TSXV) accepts responsibility for the adequacy or\naccuracy of this release.\n\nForward-Looking Information\n\nThis news release contains \"forward-looking information\" within the meaning of\napplicable Canadian securities legislation. \"Forward-looking information\"\nincludes, but is not limited to, statements with respect to the activities,\nevents or developments that the Company expects or anticipates will or may\noccur in the future. Generally, but not always, forward-looking information\ncan be identified by the use of words such as \"plans\", \"expects\", \"is\nexpected\", \"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\",\n\"anticipates\", or \"believes\" or the negative connotation thereof or variations\nof such words and phrases or state that certain actions, events or results\n\"may\", \"could\", \"would\", \"might\" or \"will be taken\", \"occur\" or \"be achieved\"\nor the negative connotation thereof. This forward-looking information relates\nto, among other things, ongoing and anticipated exploration work at the\nIllinois Creek Project; the anticipated timing of assay results and the\nexpected results therefrom; the potential for an entirely new area of\nmineralization at Silver Sage; the potential continuity of the CRD property;\nthe implementation of the objectives, goals and future plans of the Company\nincluding the proposed advancement of the Illinois Creek Project as currently\ncontemplated; the expectation that exploration activities (including drill\nresults) will accurately predict mineralization; the expectation that the\nCompany will implement its drilling, geoscience and metallurgical work on its\nproperties and work plans generally; the effective targeting activities\nproposed by the Company; the benefits of the Company's approach to\nexploration; and the anticipated benefits of the Company's approach to the\nresource development plan.\n\nSuch forward-looking information is based on numerous assumptions, including\namong others, that exploration work at the Illinois Creek Project will occur\nas anticipated; assay results will be received when anticipated; Silver Sage\nwill represent an entirely new area of mineralization; the CRD property will\nexhibit the anticipated continuity; the Company will be able to implement its\nobjectives, goals and future plans, including the proposed advancement of the\nIllinois Creek Project as currently contemplated; exploration activities\n(including drill results) will accurately predict mineralization; the Company\nwill be able to implement its drilling, geoscience and metallurgical work on\nits properties and work plans generally; the targeting activities proposed by\nthe Company will be effective; and the Company's approach to exploration will\nresult in the expected benefits. Although the assumptions made by the Company\nin providing forward-looking information is considered reasonable by\nmanagement at the time, there can be no assurance that such assumptions will\nprove to be accurate and actual results and future events could differ\nmaterially from those anticipated in such information.\n\nImportant factors that could cause actual results to differ materially from\nthe Company's plans or expectations include: the risk that exploration work at\nthe Illinois Creek Project will not occur as anticipated; the risk that assay\nresults will not be received when anticipated; the risk that Silver Sage will\nnot represent a new area of mineralization as anticipated; the risk that the\nCRD property will not exhibit the anticipated continuity; the risk that the\nCompany will not be able to implement its objectives, goals and future plans,\nincluding the proposed advancement of the Illinois Creek Project as currently\ncontemplated; the risk that exploration activities (including drill results)\nwill not accurately predict mineralization; the risk that Company will not be\nable to implement its drilling, geoscience and metallurgical work on its\nproperties and work plans generally; the risk that the targeting activities\nproposed by the Company will not be effective; the risk that the Company's\napproach to exploration will not result in the expected benefits; risks\nrelated to market conditions and metal prices; delays in obtaining or failures\nto obtain required governmental, environmental or other project approvals;\nuncertainties relating to the availability and costs of financing needed in\nthe future; changes in equity markets; inflation; fluctuations in commodity\nprices; the other risks involved in the mineral exploration and development\nindustry; and those risks set out in the Company's public disclosure record on\nSEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Although the\nCompany has attempted to identify important factors that could cause actual\nresults to differ materially from those contained in the forward-looking\ninformation or implied by forward-looking information, there may be other\nfactors that cause results not to be as anticipated, estimated or intended.\nThere can be no assurance that forward-looking information will prove to be\naccurate, as actual results and future events could differ materially from\nthose anticipated, estimated or intended. Accordingly, readers should not\nplace undue reliance on forward-looking information. Readers are cautioned\nthat reliance on such information may not be appropriate for other purposes.\nThe Company does not undertake to update any forward-looking information or\nfinancial outlook that are incorporated by reference herein, except in\naccordance with applicable securities laws. Any forward-looking information\ncontained in this news release is expressly qualified in their entirety by\nthis cautionary statement. We seek safe harbor.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/318056"},"type":"article","timestamp":"2026-10-08T11:00:38.175114992Z","server_sent_at_ms":1791457238175},"received_at":"2026-10-08T11:00:38.344Z","source_url":"https://www.newsfilecorp.com/release/318056"},"analysis":{"id":"152489","press_release_id":"164053","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["No assay results included — market-moving grade data still pending","Program expanded via C$7.6M equity PIPE, implying future dilution"],"eventType":"operations_update","narrative":"Alaska Silver completed its 2026 drill program at the 100%-owned Illinois Creek Project, drilling 9,496 metres across 39 holes — beating its expanded 9,000-metre target and the original 6,000-metre plan.\n\nThe season set operational records: a combined 112.9 metres per day (over 25% above plan), the two highest single-shift totals at the project, a record 1,288.24-metre deepest hole, and zero safety incidents or rig downtime.\n\nA C$7.6 million PIPE closed August 17 funded the program expansion; assays from 6,753 core samples and bulk-sample metallurgical testing at KCA are pending and will feed a possible PEA.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Record execution season at Illinois Creek sets the stage for assay releases in coming weeks — watch for follow-up news."},"keyFigures":{"customDimensions":{"drill_holes":39,"core_samples":6753,"metres_drilled":9496,"planned_metres":9000,"financing_closed":"C$7,615,800 (approximately US$5,480,000) PIPE closed August 17, 2026","avg_metres_per_day":112.9}},"quotedText":"Our crews not only exceeded every production target we set but they did so while maintaining a perfect safety record and pushing our deepest hole ever drilled at Illinois Creek.","namedEntities":{"people":[{"name":"Aaron Schutt","role":"CEO"},{"name":"Sage Langston-Stewart","role":"Principal Geologist"},{"name":"Patrick Donnelly","role":"Executive Vice President, Qualified Person"}],"products":["Illinois Creek Project","Silver Sage target","Waterpump Creek zone"],"companies":[{"name":"Alaska Silver Corp.","ticker":"WAM","relationship":"filer"},{"name":"ALS Global","relationship":"assay laboratory"},{"name":"Kappes, Cassiday & Associates (KCA)","relationship":"metallurgical laboratory"}],"dollarAmounts":[{"amount":"C$7,615,800","context":"PIPE financing closed August 17, 2026 to expand drill program"},{"amount":"US$5,480,000","context":"approximate USD equivalent of PIPE financing"}]},"materialImpact":{"score":2,"reasoning":"Successful completion of an expanded 9,496-metre drill program with record productivity is operationally positive, but no assay results are included — the market-moving data (assays, metallurgy) remains pending."},"tickerRelevance":{"others":[],"primary":"WAM"},"globalImportance":12,"audienceRelevance":8,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap junior explorer","eventGravity":"operational milestone without assay data","issuerAuthored":true,"retailFavoriteBoost":0}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Alaska Silver completed its 2026 drill program at the 100%-owned Illinois Creek Project, drilling 9,496 metres across 39 holes — beating its expanded 9,000-metre target and the original 6,000-metre plan.\n\nThe season set operational records: a combined 112.9 metres per day (over 25% above plan), the two highest single-shift totals at the project, a record 1,288.24-metre deepest hole, and zero safety incidents or rig downtime.\n\nA C$7.6 million PIPE closed August 17 funded the program expansion; assays from 6,753 core samples and bulk-sample metallurgical testing at KCA are pending and will feed a possible PEA.","key_figures":{"customDimensions":{"drill_holes":39,"core_samples":6753,"metres_drilled":9496,"planned_metres":9000,"financing_closed":"C$7,615,800 (approximately US$5,480,000) PIPE closed August 17, 2026","avg_metres_per_day":112.9}},"named_entities":{"people":[{"name":"Aaron Schutt","role":"CEO"},{"name":"Sage Langston-Stewart","role":"Principal Geologist"},{"name":"Patrick Donnelly","role":"Executive Vice President, Qualified Person"}],"products":["Illinois Creek Project","Silver Sage target","Waterpump Creek zone"],"companies":[{"name":"Alaska Silver Corp.","ticker":"WAM","relationship":"filer"},{"name":"ALS Global","relationship":"assay laboratory"},{"name":"Kappes, Cassiday & Associates (KCA)","relationship":"metallurgical laboratory"}],"dollarAmounts":[{"amount":"C$7,615,800","context":"PIPE financing closed August 17, 2026 to expand drill program"},{"amount":"US$5,480,000","context":"approximate USD equivalent of PIPE financing"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-08T11:00:45.577Z","global_importance":12,"audience_relevance":8,"importance_components":{"tickerTier":"micro-cap junior explorer","eventGravity":"operational milestone without assay data","issuerAuthored":true,"retailFavoriteBoost":0}},"durationMs":7214,"modelName":"glm-5.3-flashx"}}