Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: MLRKD) (“Alaska Energy Metals” or the “Company”) is pleased to announce that Corri Feige has been appointed to the Company’s Board of Directors.

Alaska Energy Metal’s President & CEO Gregory Beischer commented: “We are really pleased to have Corri join our company! She has great energy, vision, and leadership skills, but, most importantly, she has boundless enthusiasm for resource-centered economic development in Alaska. Her enthusiasm is infectious! With many connections in the Alaska resource, finance, and government communities, we look forward to Ms. Feige having a positive impact on our newly relaunched company.”        Corri Feige commented: “I am very pleased to join the AEMC team and help deliver critical energy transition metals to the market. The potential of the Nikolai nickel – copper – cobalt – platinum group element project is tremendous and stands as a great example of Alaska’s critical mineral endowment. With nickel and cobalt demand estimated to increase by 1,900% and 4,000% respectively over the next 15 years, Nikolai, and projects like it, will be on the leading edge of meeting the mineral demands of electrification and new energy storage technologies for years to come.”

Corri Feige is presently the President and Principal of Terra Piniun LLC. This Anchorage-based consulting firm specializes in communications, regulatory issues, permitting, land use and project planning in resource development with particular focus on mining and petroleum. Previously, Ms. Feige was Commissioner of the Alaska Department of Natural Resources (“ADNR”), having been appointed to this position in 2018 by current Alaska Governor Mike Dunleavy. ADNR is charged with administering the State’s program for the conservation and development of Alaska’s vast natural resource endowment.

Ms. Feige also served as a Trustee for the Alaska Permanent Fund Corporation (the “Permanent Fund”) and while doing so chaired the Audit Committee and sat on the Corporate Governance Committee. The Permanent Fund started and sustained by Alaska petroleum production royalties and has been grown through investing activities to a total value of over US$76 billion. The Permanent Fund pays all Alaskans an annual dividend. Finally, Ms. Feige also served in the Alaska government as the Director of the State’s Division of Oil and Gas. She is a Geophysical Engineer, having graduated with a Bachelor of Science degree from the Montana School of Mines in Butte, Montana in 1988.

Corri Feige now rounds out Alaska Energy Metal’s Board that consists of five members, including:

Roland Butler, a geologist and founder of successful royalty and mineral exploration company Altius Minerals.

Peter Chilibeck, an attorney and formerly corporate counsel at Falconbridge Limited and general counsel at IMAX Theaters.

Larry Cooper, a finance executive and banker formerly with National Banks of Alaska and now the Chief Financial Officer of one of Alaska’s Native Corporations.

Greg Beischer, a geologist and mining engineering technologist, formerly with INCO Ltd, Alaska’s Bristol Bay Native Corporation and Millrock Resources Ltd.

About Alaska Energy MetalsAlaska Energy Metals Corporation is focused on delineating and developing a large polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, and palladium. Located in development-friendly 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. The Company intends to delineate a major metal resource by the end of 2024.

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

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the Company’s successful realization of adequate financing to explore and develop the Nikolai project and to achieve milestones successfully. The potential quantity and grade of mineralized rock targeted by Alaska Energy Metals is conceptual in nature. There has been insufficient exploration drilling to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. 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. Forward-looking statements speak only as of the date those 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/050ede99-40a6-4954-81b9-d198f2764fc7

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