Alaska Energy Metals Announces Sale of Exploration Data to KoBold Metals, Nikolai Project Area, Alaska

Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“

Alaska Energy Metals

” or the “

Company

”) today announced the partial sale of its previously purchased exploration data to a subsidiary of KoBold Metals Company (“

KoBold

”), an exploration and mining company out of Silicon Valley known for its innovative use of machine learning and artificial intelligence in mineral exploration. The data pertains to KoBold’s Skolai Project (purple outline in Figure 1), which runs adjacent to AEMC’s Nikolai Nickel Project (red outline in Figure 1) in the Interior Alaska region.

Figure 1. Claim map, Nikolai Nickel Project area, Alaska.

Alaska Energy Metals Corporation President & CEO commented: “We are pleased to recover some of our costs from the large exploration data set we bought earlier this year. KoBold owns claims that neighbour our Nikolai Nickel Project and I am confident they will put the data to good use. With it, it should accelerate their exploration efforts. We wish KoBold success in their search for magmatic nickel-copper sulfide deposits on their claims. Any discovery success in this emerging nickel district will benefit Alaska Energy Metals and Alaska generally.”

Earlier this year, Alaska Energy Metals acquired an extensive data package produced by prior explorers of the district, some of which now pertains to claims held by KoBold. AEMC has sold the relevant data to KoBold for US$175,000. The data has been clipped approximately to the boundaries of KoBold’s Skolai claim block and includes:                                                

• Rock sample assay results (>1,000 samples)
• Soil sample assay results (>2,300 samples)
• Stream sediment samples assay results (>250 samples)
• Drill core assay results and core logs (13 drill holes)
• ZTEM and VTEM airborne geophysical surveys
• Geological maps

KoBold Metals Chief Strategy Officer, Daniel Enderton, commented: “We appreciate completing this data purchase with Alaska Energy Metals Corporation to further work on our Skolai Nickel Project. We similarly wish Alaska Energy Metals success in their search for magmatic nickel-copper sulfide deposits on their neighboring Nikolai Nickel Project.”

For additional information, visit: https://alaskaenergymetals.com/

About KoBold Metals CompanyKoBold Metals Company is a US-based, privately held, mineral exploration company that couples geology, geoscience, data science, machine learning, and artificial intelligence (AI) to search for critical minerals.

About Alaska Energy MetalsAlaska Energy Metals Corporation is focused on delineating and developing a polymetallic deposit containing nickel, copper, cobalt, chrome, iron, platinum, palladium and gold. Located in central Alaska near existing transportation and power infrastructure, the project is well-situated to become a significant, domestic source of critical and strategic energy-related metals.

ON BEHALF OF THE BOARD“Gregory Beischer”Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:Gregory A. Beischer, President & CEOToll-Free: 877-217-8978 | Local: 604-638-3164

Sarah Mawji, Public RelationsFinal Edit Media and Public Relations Email: [e-mail]

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the expected development and growth of the Company’s project. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, these statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/106f27b4-b955-4d20-9a08-5a597fe3e0fb