Alaska Energy Metals Secures Option to Acquire the Bambino Nickel – Copper Property and Commences Exploration Programs on Its Quebec Properties

Highlights

• The Bambino property is adjacent to AEMC’s Angliers-Belleterre claim block and constructively adds to the property position.
• The combined claims are underlain by thick basalt flow interlayered with gabbro sills and komatiite flows in a regional setting thought to include a mantle plume, and prospective for Kambalda or Raglan-style high-grade nickel mineralization.
• Significant copper-nickel-PGE prospects Midrim and Alotta, held by Pivotal Metals Ltd.², are located on adjacent claims.
• AEMC’s exploration program is fully funded and will commence immediately. The program consists of approximately 4,000 soil samples, prospecting and a VTEM electromagnetic survey.

VANCOUVER, British Columbia, May 22, 2024 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to announce it has entered into an agreement (the “Option Agreement”), pursuant to which it will be granted an option to acquire 100% interest in the 57-claim, 3,320-hectare Bambino nickel (“Ni”) – copper (“Cu”) platinum group element (“PGE”) property (the “Property”) located in the Temiscaming Region of western Quebec, from a Quebec prospecting syndicate (the “Vendors”). The Property is located directly adjacent to the Company’s 100%-owned Angliers-Belleterre (Angliers) property acquired in 2023¹ (Figure 1).

“Our Nikolai nickel project in Alaska, which hosts the Eureka deposit, already contains one of the largest known nickel resources in the US. We intend to acquire Bambino so that we can further expand our contribution of nickel and other strategic metals to the rapidly growing lithium-ion battery industry and also the long-term energy storage industry in North America,” says Gregory Beischer, CEO of Alaska Energy Metals. “We are excited and ready to begin exploration in Quebec as we know these projects could further position AEMC as a leading producer of critical minerals in the North American market at a time when these commodities are going to be in even higher demand than they are today.”

Figure 1: Location of AEMC’s Angliers and Bambino Claims

BAMBINO PROPERTY
The Bambino property covers the southern portion of the western segment of the Belleterre-Baby-Angliers Greenstone Belt and is predominately underlain by mafic volcanic rocks intruded by mafic to ultramafic sills. The volcanic stratigraphy includes thick layers of pillowed and subordinate massive basalt flows overlain by volcaniclastic sediments that are both interlayered with gabbro sills and komatiite flows. Mineralization in the area is primarily hosted or spatially related to the gabbro sills as: a) primary magmatic sulfide Ni+Cu±PGE mineralization (disseminated to massive sulfides), b) remobilized hydrothermal Cu+PGE mineralization (sheared sulfides) and c) volcanogenic, disseminated pyrite mineralization in tuffaceous rocks. The mineralization is thought to be related to a mantle plume in a geological setting analogous to Kambalda in Western Australia and Raglan in Northern Quebec.