American Eagle Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

American Eagle Gold is focused on exploring for world-class gold and copper deposits in North American. The Company's two flagship assets are its NAK copper property located in British Columbia, and the Gold Gate gold property located in Nevada. Both properties are strategically located within prolific mining districts in North America.

The Company is advancing its NAK property located in the Babine Copper-Gold Porphyry district in central British Columbia. A large underground copper/gold porphyry target has been identified at NAK. The Company expects to begin drilling in the summer of 2022 to test the property's geophysical features in search of a robust underground block cave copper-gold porphyry deposit.

• Targeting high grade, tier 1, Copper and Gold Deposits
• Flagship assets, NAK and Gold Gate properties, are located in rich mining districts
• A large underground copper/gold porphyry target has been identified at NAK
• Golden Gate is amongst the last underexplored property in the Cortez Trend
• Exploration Team has a track record of world-class discoveries
• Funded for 2022 drill campaign in BC

EXPLORATIONS

NAK Copper-Gold Project, British Columbia

Location & Infrastructure

• The NAK copper-gold porphyry occurs within a 4,150 acres within the Stikine Island Arc Terrane, which hosts a large number of copper porphyry deposits in British Colombia
• Excellent infrastructure with logging road access
• Situated at low elevations which extend the exploration field season to 6-8 months
• Historical exploration spending in excess of $7 million
• All historical data digitized and modelled

Potential for a Copper-Gold Porphyry Deposit

• Located in a known Copper and Gold mining belt
• Drilling has demonstrated a large mineralized footprint
• Historical open pit resource: 270 Mt @ 0.18% Cu and 0.04 g/t gold (non NI 43-101 compliant)
• New geophysical targets under known mineralization – never tested
• Potential for a high-grade porphyry deposit
• Targets defined and planned – drilling expected July 2022

Classic Porphyry Target

• Large Low Grade Mineralization at Surface, High Grade Underground Source

Potential Porphyry Target at Depth

• Geophysics have uncovered a underlying porphyry source for the low grade copper/gold at surface
• The top of the larger intrusive stock starts at a depth of 500-600m, which coincides with the location of suspected deeper high grade ore

Geophysical Signature for a Copper-Gold Porphyry

• Copper-gold porphyry deposits such as Red Chris, and Grasberg share similar geological and geophysical characteristics to the NAK
• High grades most often occur in the deeper levels of porphyry deposits
• NAK has only 4 holes over 300 metres vertical
• The alteration and geochemical footprint is covering an area of 3.5 sq. km

Drilling & Mineralization

Mineralization

• Historical “global open pit resource” of ~270 Mt at 0.18% Cu and 0.04 g/t gold including South Area “global resource” estimated ~54 Mt grading 0.11% Cu and 0.25 g/t gold (non NI 43-101 compliant).
• 105 diamond holes were completed for 18,475m, averaging 175m in length and to an average vertical depth of 150m.
• Drilling defined area of copper-gold mineralization measuring ~2,000 x 1,500 m that is open laterally and more importantly vertically.
• The majority of copper-gold mineralization is hosted by andesite. The underlying porphyry source for the mineralization has not been adequately tested below a depth of 200m and represents an excellent exploration target.

Exploration Plan

Complete – Geophysics and Field Exploration

Complete – Generate GIS database

Complete – Block Model

Complete – Drill Targets Defines

Underway – Permitting

July – Commencement of Drill Program

The planned drill program consists of 6-8 diamond drill holes totalling 4,500m targeting the newly identified geophysical feature within a well-understood copper-gold porphyry province.

Golden Gate Gold Project, Nevada

• Carlin-style gold prospect
• Large, underground gold system hosted in lower plate rocks
• Located on the Cortez Trend, next door to Barrick's Goldrush and Cortez Hills Deposits
• Adjacent to Barrick Gold's Cortez Complex
• Cortez Complex's three major deposits with > 10Moz
• Pipeline (discovered in 1991)
• Cortez Hills (discovered in 2002)
• Goldrush (discovered in 2011)
• Golden Gate is 7,574 acres comprised of 111 claims with road access
• Field exploration program utilized surface geology/geochemistry and geophysical data
• Initial program will focus on two main areas of interest: Northern Cortez and Southern Cortez Target
• Drilling will test lower-plate carbonate rocks adjacent to the Cortez Fault zone in search for an orebody similar to Goldrush and Cortez Hills.

Management

Management and Directors

Anthony Moreau, CFA, Chief Executive Officer and Director

10 years of experience in the mining industry

Previously with IAMGOLD in Business Development & Special Projects

Director of the Young Mining Professionals Toronto (YMP) and co-founder of the YMP Scholarship Fund

Stephen Stewart, M.Sc., MBA, Chairman

15 years of experience in the resource and finance industries

Focused on the M&A, exploration and development of resource assets

Held senior offices with numerous TSX Venture companies

Kevin Canario, CPA, CA, Chief Financial Officer

Over 15 years experience in the Mining Industry

Former Corporate Controller for Battle North Gold Corporation

Mark Bradley, B.Sc., M.Sc., P.Geo., Vice President of Exploration

35 years of experience in the mining sector

Cortez project team leader during Barrick’s discovery of Goldrush, then chief exploration geologist at Cortez

Held senior management and directorship roles of public and private mining companies

Alex Stewart, B.A., J.D., Director

Over 40 years of experience in the practice of securities law and natural resource investment

Tim Gallagher, MBA, CFA, Director

President of Inflection Capital Inc.

Director and President of Xtierra Inc.

David Shaddrick, B.Sc., M.Sc., P.Geo., CPG, Director

45 years of experience in the mining sector

Specializes in exploration management and project evaluation

Kurt Breede, P.Eng., P.Geo., Director

Geological Engineer with over 25 years international experience

Former Vice President and Partner at Watts, Griffis and McOuat

News Update

On January 27, 2023, American Eagle Gold Corp. has provided an update to its news release dated Jan. 23, 2023, in that it announced the participation of Anthony Moreau, a director of the company, in the closing of its previously announced non-brokered private placement of 10 million units of the company at a price of 20 cents per unit for aggregate gross proceeds of approximately $2-million.

Mr. Moreau allocation was closed as a separate non-brokered private placement offering in the amount of 50,000 units for gross proceeds of $10,000. Mr. Moreau's units were not issued pursuant to the listed issuer financing exemption under National Instrument 46-106 -- Prospectus Exemptions and are hence subject to a four-month period.

On January 25, 2023, American Eagle Gold Corp. has released assay results from the third and fourth holes of its 2022 program on its NAK copper-gold porphyry project.

"This fourth drill hole is our best intercept to date and encountered a new, higher-grade, copper-rich zone 500 metres from our discovery hole. Hole NAK22-04 ended within a wide, high-grade zone, but was unfortunately terminated early for technical reasons; however, holes NAK22-06 and -07 successfully intersected the continuation of the same zone at depth and hit similar mineralization. We anticipate that the pending assays from those two holes will show similar results. Our stepout drilling continues to demonstrate a substantial footprint for this system," said Anthony Moreau, American Eagle's chief executive officer. It drilled 527 metres of 0.45% copper equivalent from surface, including 185 metres of 0.74% copper equivalent.

On January 23, 2023, American Eagle Gold Corp. has closed its previously announced non-brokered private placement of an aggregate 10 million units of the corporation at a price of 20 cents per unit for aggregate gross proceeds of approximately $2-million. The corporation intends to use the net proceeds from the offering to continue advancing the exploration of the NAK project and for general corporate purposes.

On January 09, 2023, American Eagle Gold Corp. intends to complete a non-brokered private placement of 10 million units at a price of 20 cents per unit for gross proceeds of $2-million. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of 30 cents at any time two years from the closing of the offering. Proceeds from the offering will be used for general working capital purposes and exploration work at the company's NAK project located in the Babine copper-gold porphyry district in central British Columbia.

On January 04, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to the non-arm's-length disposition of a 20-per-cent working interest in the NAK copper-gold porphyry project, consisting of five mineral claims located northeast of Smithers, B.C., for consideration of $1-million in work obligations (includes a 5-per-cent management fee to the company).

On December 30, 2022, American Eagle Gold Corp. and Orefinders Resources Inc. have closed the previously announced exploration option transaction pursuant to an option agreement dated Oct. 11, 2022. Pursuant to the option agreement, Orefinders has acquired to a 20-per-cent interest (except the net smelter return as defined below) in American Eagle's NAK copper-gold porphyry project, consisting of five mineral claims located northeast of Smithers, B.C.

On December 19, 2022 American Eagle Gold Corp. has completed its 2022 drill program at the NAK project in west-central British Columbia. Results from the first two core holes were released on Nov. 7 and Dec. 5, respectively. They confirmed that the broad NAK porphyry copper-gold system, previously drilled closer to surface, extends to depths close to one kilometre. It drilled 956 m of 0.37% CuEq at NAK.

On December 05, 2022, American Eagle Gold Corp. has released assay results from the second hole of its 2022 program on its NAK copper-gold porphyry project. All seven holes drilled on NAK intersected broad porphyry-style mineralization intervals from surface to end-of-hole, with assays pending on holes -03 to -07. NAK's second drill hole returned 956 metres of 0.37 per cent copper equivalent (CuEq), including 301 m of 0.61 per cent CuEq from surface. It drilled 956 m of 0.37% CuEq at NAK.

On April 01, 2022, American Eagle Gold Corp.'s board of directors has approved the grant of stock options to directors, officers, employees and consultants of the company allowing for the acquisition of up to, in the aggregate, 410,000 shares of the company. The options are exercisable at a price of 13 cents per share for a period of five years from the date of grant and are subject to regulatory policies.

On February 25, 2022, American Eagle Gold Corp. announced that it has contracted C.J. Greig & Associates to advise and execute the Company's exploration program at NAK property in British Columbia. Geologist and president of C.J. Greig & Associates, Charlie Greig, is a recipient of the prestigious 2022 Bill Dennis Award, recognizing his contribution to the prospecting and exploration industry or a significant mineral discovery.

Mr. Greig's recent exploration successes include discoveries for GT Gold Corp. of the SaddleNorth Cu-Au porphyry and the high grade gold-silver mineralization at Saddle South in BC. GT Gold got sold last year to Newmont for nearly $400 million.

American Eagle Gold has large footprint of mineralization at NAK and is going to be drilling for the high grade ore that is the source for the large lower grade mineralization at surface.

On December 24, 2021, American Eagle Gold Corp. closed NAK Project acquisition and $1.5 million financing. The funds will go towards the advancement and exploration of the NAK Project.

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