Exploration Program To Begin At NAK Cu-Au Porphyry Project

Exploration Program To Begin At NAK Cu-Au Porphyry Project

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

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.