American Eagle Discovers Copper Porphyry Outcrops in New Embayment Zone

American Eagle Gold Corp. (AE, AMEGF) has announced that it has potentially substantial discovery of exposed copper mineralization at its NAK project in west-central British Columbia. This follows an Induced Polarization survey in 2024 that identified a promising new area known as the IP Embayment Zone ("IPE Zone"). Subsequently, American Eagle mobilized field teams to investigate the IPE Zone, where they identified three distinct outcrops of copper-bearing porphyry deposits spread across the area.

Additionally, American Eagle has announced that drill hole NAK24-19, strategically aimed at exploring the western boundary of the IP Embayment Zone (refer to Figure 2), has successfully intercepted chalcopyrite mineralization below a depth of 700 meters. This mineralization exhibits similarities to both the surface outcroppings and the mineralization encountered in NAK's North and South Zone target areas.

The discoveries and findings from drill hole NAK23-09, positioned 300 meters northeast of the mineralized outcrop, provide strong justification for ongoing exploration and drilling efforts within the IPE Zone.

The ongoing 2024 drill program, slated for 15,000 meters, aims to further delineate and expand upon the historically significant North and South zones. Previous drill programs in 2022 and 2023 demonstrated the extension of these zones to considerable depths, approximately 950 meters below the surface, spanning a strike length of 750 meters and a width of 400 meters. Key intercepts from 2023, such as 900 meters of 0.50% Copper Equivalent from surface in the North zone (refer to NAK23-12 News Release), and 302 meters of 1.09% Copper Equivalent within a broader interval of 606 meters at 0.74% Copper Equivalent starting from 98 meters downhole in the South Zone, underscore the potential for significant mineralization expansion and connectivity within the project area.

The NAK Project is situated within the Babine copper-gold porphyry district in central British Columbia, benefiting from robust infrastructure including all-season roads and proximity to Smithers, Houston, and Burns Lake, B.C. These towns are linked by a major rail line and Provincial Highway 16. Historical exploration efforts at NAK, which commenced in the 1960s, focused primarily on shallow depths but revealed a large, near-surface copper-gold system spanning over 1.5 km x 1.5 km.

Recent drilling campaigns conducted by American Eagle in 2022 and 2023 have uncovered significant intervals of high-grade copper-gold mineralization extending beyond the historical limits. This exploration indicates the presence of multiple zones of mineralization, both near-surface and at depth, with localized areas demonstrating notably higher grades within the broader NAK property mineralization system.