Alaska Silver Corp. has closed its private investment in public equity financing for aggregate gross proceeds of C$7,615,800, funding an expansion of active field operations at the Illinois Creek Project in western Alaska.

The financing delivered 13,846,910 units at a price of C$0.55 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at C$0.75 per share for three years from issuance.

The completed transaction provides immediate capital to increase the active 2026 exploration drilling program from 6,000 metres to approximately 9,000 metres. The expanded program builds upon the 2025 discovery of the blind Silver Sage Zone and will provide operational flexibility to test priority targets including Waterpump Creek and Silver Sage through September 2026. Net proceeds will also support ongoing metallurgical and technical work, baseline environmental studies, and general corporate purposes.

Existing shareholder Crescat Capital LLC participated in the financing to maintain its ownership interest at approximately 13.7%, acquiring 1,830,910 shares and warrants. The transaction remains subject to final acceptance from the TSX Venture Exchange.

“Our drilling this summer has advanced much faster than projected, so this financing comes at just the right time to enable our outstanding exploration team to maximize the Alaska summer and keep drilling into September. Early indications from the drilling have been encouraging and this financing will provide the opportunity for testing new targets and expanding our discoveries at Silver Sage and Water Pump Creek. It will be exciting to see what a team that is outperforming as highly as ours can do with an extended drilling season.”

— Kit Marrs, President and CEO

Drilling activity under the expanded program will continue through September 2026 as the company leverages its increased operational flexibility.

Read the full announcement: Alaska Silver Announces Closing of C$7.6 Million Pipe Financing