Highlights:

• For the first time, high-grade mineralization has been intersected at surface in the North Zone with NAK25-47, returning:
  • 73 m of 0.89% CuEq, within
  • 277 m of 0.40% CuEq from Surface
• In NAK25-59, testing a completely new area within the Porphyry Stock, American Eagle has intersected strong visually identified mineralization from surface in a broad step-out hole; assays pending on this hole
• 20+ scheduled drill holes remaining with results of the next set of assays expected imminently

Toronto, Ontario – September 25, 2025 – American Eagle Gold Corp. (TSXV: AE) ("American Eagle" or the "Company") is pleased to report a recent discovery of 73 metres of 0.89% Copper Equivalent (“CuEq”) within 277 metres of 0.4% CuEq from surface (beginning 12 metres downhole) in NAK25-47, located in the North Zone at the NAK Copper-Gold Project in British Columbia. This discovery confirms that high-grade copper-gold mineralization extends directly to surface and aligns with the broader porphyry system, emphasizing the project's scale and continuity. Drilling is underway with three drill rigs, with current plans to follow up on the North Zone results.

View North Zone Results in Plan View

View New Porphyry Stock Zone

Mineralization in a Brand-New Zone within the Babine Porphyry Stock

The Company has intercepted a broad zone of visually identified mineralized material near surface within the central part of the Porphyry Stock in hole 25-59, collared ~1.2 km east of American Eagle’s northerly trending Main Zone, and ~1 km north of 22-09, the only hole the Company had drilled outside of the main trend. This new zone occurs in an area with limited shallow drilling, with little or no outcrop, and was targeted using geophysical data.  

Hole 25-59 encountered copper mineralization, beginning at surface, associated with magnetite-biotite altered host rocks throughout, a strong indication of a potentially significant system. In response, the Company has reoriented its helicopter-supported program to prioritize immediate follow-up. Hole 25-64, now underway, is testing south across a magnetic high (view here) that appears linked to mineralization in hole 25-59.  This discovery has the potential to materially expand the mineralized footprint at NAK and represents an exciting new target area that could shape the Company’s ongoing exploration strategy.

“Identifying and expanding near-surface mineralization has been a key focus of the 2025 program. American Eagle had focused on expanding known mineralization in the South Zone, then transitioned to find new near-surface mineralization in the North Zone. Recently, the Company added a third drill rig to drill promising areas within the underexplored Babine porphyry stock. Current drilling within the stock, in an area more than a kilometre away from American Eagle’s closest drill hole, strongly suggests the potential for an exciting new discovery, again with visual mineralization near surface. Beyond the Company’s near term, near surface priorities, drilling continues to validate our thesis of a large, well-connected porphyry system at NAK,” said Anthony Moreau, CEO of American Eagle Gold.

North Zone Significance

With 73 metres of 0.89% CuEq within 277 metres of 0.4% CuEq from surface, hole NAK25-47 demonstrated that higher grade mineralization does come to surface in the north zone, identifying another high priority area of interest on the property.

Drill holes NAK25-43, -45, and -47, like other holes drilled in the north near the end of the 2024 season, intersected broad intervals of consistent, moderate grade mineralization.  Mineralization is hosted in part within easterly-dipping sedimentary rocks, within hornblende biotite feldspar porphyritic rocks likely correlative with the historical Babine porphyry stock, and, where the best grade occurs in these drill holes, both within and closely associated with still younger porphyritic monzonite to quartz monzonite dikes characterized in large part by a seriate texture (feldspar phenocrysts occurring throughout with a broad range of grain sized). 

Together, the North Zone holes drilled this year were successful in expanding greatly the footprint of mineralization farther to the north.  Most notably, this included a broad intercept of newly encountered chalcopyrite mineralized hornblende-bearing dioritic intrusive rocks at depth in NAK25-45, beyond the northwest limits of the Company’s drilling. This intercept is suggestive of good potential to further expand mineralization in this direction.  In addition, the long intercept of consistent grade in NAK25-47 that is hosted by rocks correlative with those of the Babine porphyry stock is also suggestive of further potential to the northeast. 

With these observations in mind, the Company is looking forward to completing its initially planned skid-access holes in the north, along with relatively nearby planned helicopter-access holes to better model the geometries of the well-mineralized causative intrusions and to more successfully target them.

View 2025 Drilling at NAK to Date

View Core Photos for NAK25-43, -45, -47

NAK25-47 Assay Results (Table 1) and Details*

Cross Section, NAK25-47

NAK25-47 was drilled as part of a northeast oriented fence, 150 m northeast along that fence from NAK24-35 and approximately 100m southwest of the collar location of NAK25-43/-45, designed to better constrain the orientation of the strongly bornite-mineralized seriate texture monzonite to quartz monzonite dike intersected in NAK24-35.  The drill hole collared in (hornblende) biotite-plagioclase feldspar porphyry consistent in appearance with rocks of the historical Babine porphyry stock, hosting a number of narrow bornite-mineralized dikes of somewhat variable textures and compositions.  Also, in this upper part of the hole were several relatively thick, cm- to dcm-scale, quartz-carbonate veins and vein-breccias hosting abundant coarse masses of chalcopyrite. Farther down hole, between a depth of approximately 200 and 350m, the thicker sulphide-bearing veins, locally hosting massive to semi-massive sulphide, may carry abundant bornite as well as chalcopyrite. The seriate dikes in that interval also correspond with the better-grade mineralization occurring as disseminated sulphides, although the mineralization is not distributed uniformly across the breadth of the dikes. Farther down the hole, dikes of a similar texture and composition do not carry abundant disseminated sulphides, with mineralization largely hosted within fractures and stringer veins cutting the host rocks of the Babine porphyry stock.

Most of the grade in the drill hole below 350 m is carried by veining. The host rocks at depth are crowded hornblende biotite plagioclase feldspar porphyry of the Babine stock, cut by or varying gradationally into several varieties of porphyritic rocks of generally similar composition, mineralogy and texture. The veining ranges down hole from anhydrite veins hosting chalcopyrite and bornite down to local thicker quartz carbonate veins containing bornite and chalcopyrite, to sparse vein-hosted fine aggregates of bornite, chalcocite and molybdenite, to narrow fine sooty pyrite>chalcopyrite stringer veins. Disseminated sulphides are typically restricted to the immediate vicinity of the veins. Near the end of the drill hole, mineralization is sparse and pyrite dominant, although local cm-scale quartz-iron carbonate veins hosting blocky coarse aggregates of specularite, hematite, and chalcopyrite, may occur.

NAK25-45 Assay Results (Table 2) and Details

Cross Section, NAK25-45

NAK25-45 was collared farther north than any hole drilled to date by the Company.  It was drilled to the northwest, in part to test up-dip of the hypothesized orientation of well-mineralized seriate texture dikes encountered late in the 2024 drill program. Near the collar, the hole intersected intrusive rocks similar to those of the historical Babine porphyry stock, followed by conglomerate and sandstone typical of the largely sedimentary host rocks at Nak. Mineralization was generally subdued but consistent from top of hole, with locally better grades associated with dikes of a variety of compositions, including late monzonite and quartz monzonite dikes. One of these dikes was a previously unrecognized variety, a moderately well-mineralized hornblende plagioclase porphyritic intrusion intersected at the bottom of the hole and spanning an interval of approximately 200m. It hosts chalcopyrite and trace bornite in veins, veinlets, on fractures, and locally as disseminations, and although at a substantial depth, it is indicative of both the extent of the Nak mineralizing system and the potential which remains within it.

NAK25-43 Assay Results (Table 3) and Details*

Cross Section, NAK25-43

NAK25-43, collared from the same location as NAK25-45, was drilled to the southwest and was designed to test the modeled orientations of disseminated bornite-bearing monzonite and quartz monzonite dikes.  As was the case with NAK25-45, the rocks encountered in the drill hole were consistent with the geological model, ranging from hornblende biotite crowded feldspar porphyry of the historical Babine porphyry stock at the top of the hole, through fine-grained sedimentary rocks, conglomerate, and underlying sandstones and siltstones. As was also the case with NAK25-45, mineralization was lower grade but broadly consistent, comprising local disseminated chalcopyrite and veins containing common massive chalcopyrite and trace bornite. Again, better grade mineralization shows a general association with a variety of dikes, but only two metres of the expected strongly bornite-mineralized quartz monzonite was intersected. Furthermore, NAK25-43 did not encounter the same mineralized hornblende plagioclase porphyry intrusion intersected at the bottom of hole -45, which suggests that further targeting of this newly recognized intrusion might best be toward the north and east.

Collar details for holes drilled in the 2022, 2023 and 2024 drill program (table 6):

QA/QC and Sampling Protocol

Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver, copper, and molybdenum and all other major and trace elements are analyzed by four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than 3 m in length. To control standard, blank, and duplicate sample frequency, and to better constrain pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples, inserted sequentially following well-mineralized samples where possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2024 program passed within 2 standard deviations of expected values. Where duplicate values differed significantly, the lower values from the resulting re-analyses were used.

 About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed by American Eagle in 2022, 2023, and 2024 returned significant intervals of high-grade copper-gold mineralization that reached beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.   Drilling is currently in progress, with over 16,500 metres drilled across 26 holes out of the planned 30,000-metre drill program. Three drills are actively operating, including one helicopter-supported hole, and expected to continue into December.

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About American Eagle Gold Corp.

American Eagle is dedicated to advancing its NAK copper-gold porphyry project in west-central British Columbia, Canada. The Company benefits from over $36 million in cash, bolstered by two strategic investors formed in the past two years with Teck Resources and South32. With substantial financial and technical resources, American Eagle Gold is well-positioned to drill, de-risk, and define the full potential of the NAK Copper-Gold porphyry project.

Anthony Moreau, Chief Executive Officer

416.644.1567
amoreau@oregroup.ca
www.americaneaglegold.ca

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to: including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity FT Shares, the receipt of all necessary regulatory approvals in connection with the Offering, the 2025 drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the Qualifying Expenditures as anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.

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