American Eagle Gold Corp. announced that in May, it will begin a 15,000-metre drill program at its NAK copper-gold porphyry project, located in west-central British Columbia, Canada. The drill program is fully funded and will more than double the meterage the company drilled on the NAK project to date.

Some Aims of the 2024 NAK Drill Program: Further define, expand, and link the high-grade North and South mineralized zones (north: 530m 0.61% Copper Equivalent ("CuEq") in drillhole NAK23-12; south: 302.1m @ 1.09% CuEq in drillhole NAK23-17. Expand and outline near-surface potential, such as immediately west of the shallow high-grade encountered in NAK23-17, and similarly high-grade mineralization in historically untested or little-tested parts of the historical North zone, in the vicinity of the collars of NAK23-04, -07 and -12. Extend the near-surface high-grade and gold-rich quartz chalcopyrite vein stockwork style mineralization along the eastern margin of the South Zone, including to depth and eastward, toward drill hole NAK23-09 (117.4m @ 0.4% CuEq from surface).

The company also plans to undergo a nine-line Induced Polarization (IP) survey to assist with drill targeting this April. IP surveying has proven to be effective at targeting at NAK, and American Eagle's best drillhole to date, NAK 23-17, which was the Company's final hole of the 2023 season, was largely targeted using an IP survey run immediately prior to drilling that hole. In addition, the data from the 2023 IP survey has since been modelled, in concert with historical IP and airborne magnetic data, and certain geophysical signatures and features appear to correlate well with elevated downhole CuEq grades-hence the expectation that it will aid in drill targeting.

The Company has just completed an in-depth geological review of NAK with prominent economic geologist and porphyry specialist Dr. Alan Wilson, who has over thirty years of experience working on porphyry Cu-Au systems. With help from Dr. Wilson and with new data still incoming (e.g., hyperspectral data, new age dates, the final holes of a property-wide relog, the upcoming IP survey), the NAK technical team is continually refining its plans for drilling. Consequently, the Company will provide further updates as the drill season approaches and targeting is refined. The NAK Project lies within the Babine copper-gold porphyry district of central B.C. It has excellent infrastructure, being accessed by a network of active all-season logging roads, and being supported by proximity not only by nearby logging camps, but also by the vibrant town of Smithers B.C., through which a cross-Canada rail line and a major Provincial Highway (Hwy.

16) pass. The property is also close to the past-producing Bell and Granisle open pit Cu-Au mines. Historical drilling and geophysical, geological and geochemical work at NAK, which began in the 1960's, tested only to shallow depths, but the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km.

Drilling by the Company in 2022 and 2023 has returned significant intervals of high grade copper-gold mineralization that lie beyond the extent of historical drilling, indicating that a number of zones of near surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.