Announcement • Jul 24
Alaska Energy Metals Provides Update Nikolai Nickel Project, Alaska Alaska Energy Metals Corporation corporate update outlining recent activities for the Nikolai Nickel Project, Alaska. FAST-41 Permitting. In November 2025 AEMC's Nikolai Nickel project was accepted for coverage under the FAST-41 Transparency Dashboard by the Federal Permitting Improvement Steering Council. An Environmental Assessment is to be completed by the agencies with US Army Corp. of Engineers ("USACE" or "Corps") as the lead coordinating agency. The Transparency Dashboard listing is intended to focus initially on infrastructure improvements supporting Nikolai, beginning with the rehabilitation and extension of the existing Rainy Creek Mining Trail, including installation of two temporary bridges, and an on-site camp. Subsequent to the listing, the USACE determined that a Section 404 Clean Water Permit would be required following an Environmental Assessment. The Bureau of Land Management ("BLM") was also identified as a US federal agency that would have responsibility to review the project and if appropriate, to grant a Right of Way. That ROW application has been filed and accepted by the BLM Field Office in Glennallen, Alaska. In accordance with the Fast-41 process, a schedule was determined amongst the Permitting Council, USACE and BLM and published on the Dashboard. Public comments for the road project were solicited by USACE. The comment period closed on February 27, 2026. AEMC is scheduled to carry out wetlands mapping and an archaeological survey in summer 2026. USACE and BLM are subsequently scheduled to complete their review by late August 2026. While not part of the FAST-41 permitting process, State of Alaska agencies also have regulatory authority and must provide authorizations in order for the federal agencies to issue permits. AEMC is working with the State's Large Mine Permitting Team within the Office of Project Management and Permitting for authorizations and permits that are to be issued by the State. Late last year, OPMP and the Governor of Alaska signed a Memorandum of Understanding with the Permitting Council to maximize coordination between State regulatory agencies and the Fast-41 program to reduce permitting timelines. New Risk • Jun 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.2m (US$9.48m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.2m market cap, or US$9.48m). New Risk • Jun 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$15.4m market cap, or US$11.1m). 
