Alaska Energy Metals Updates on Financial and Project Developments

Alaska Energy Metals Corporation (AEMC) has announced significant corporate updates. The company aims to secure US government grant funding for its Nikolai project under the Title III Defense Production Act. Their efforts have been met with a favorable "MET" rating, allowing potential selection for awards based on Department of Defense necessities.

Metallurgical studies are progressing, with initial results expected soon. These studies aim to determine the recovery rates and design for metal concentrate production. In parallel, a scoping study is underway to evaluate the project's economics, focusing on early extraction costs and mining rates. This initiative seeks to outline a path toward a preliminary economic assessment.

AEMC's at-the-market equity program, initiated earlier this year, has successfully issued over two million shares, yielding gross proceeds exceeding $224,000. Furthermore, the company plans to divest its gold assets in Alaska, seeking to concentrate efforts on the Nikolai project while boosting its financial reserves.