Toronto, Ontario, July 15, 2024 – American Eagle Gold Corp. ("the Company" or "American Eagle") (TSXV: AE) (OTCQB: AMEGF) is pleased to share a recent interview from the NAK Copper-Gold Porphyry project in Central British Columbia. The interview, conducted on Thursday, July 4th, during an investor and analyst site visit to NAK, features geologist Neil Prowse providing updates on the 2024 drilling program and impressions from the investors and analysts in attendance. 

Watch: Interview from NAK Site

Clarification of May 17, 2024 Press Release

The Company wishes to correct certain disclosures in the press release of the Company disseminated on May 17, 2024 (the “Closing News Release”) regarding the closing of a private placement offering of charity flow-through shares (“Charity FT Shares”). The Company would like to correct and confirm that the Company issued a total of 7,866,571 Charity FT Shares, instead of the amount originally disclosed in the Closing News Release (7,866,715).  With the exception of this corrected number, all other disclosures in the Closing News Release are hereby confirmed, including, but not limited to, the gross proceeds of the offering, the intended use of proceeds and the payment of finders’ fees.

Stock Option Grant

The Company is also pleased to announce that the Board of Directors has approved grants totaling 3,975,000 stock options to certain directors, officers, and consultants of the Company, allowing for the acquisition of up to, in the aggregate, 3,975,000 shares of the Company, pursuant to the Company's stock option plan. 2,950,000 stock options were granted to certain directors and officers of the Company. The options are exercisable at CAD $0.70 per share for five (5) years from the date of grant, vest one (1) year from the date of grant and are subject to regulatory policies and approvals.

The grant of options to certain directors and officers is a "related party transaction" ‎under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special ‎Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority ‎shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI ‎‎61-101 in respect of related party matters, as the Company is listed on the TSX Venture Exchange ("TSXV") and neither the fair ‎market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of ‎the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the ‎Company's market capitalization (as determined under MI 61-101).‎

About American Eagle's NAK Project

American Eagle is focused on the NAK Project, located within the Babine copper-gold porphyry district of central British Columbia. The Company maintains a robust balance sheet, enabling it to fund drill programs through 2024 and 2025. American Eagle's primary objective is to continue uncovering highly mineralized copper and gold intercepts, reducing project risks and positioning itself for a potential corporate takeover.

Anthony Moreau, Chief Executive Officer

Phone:  416.644.1567

Email:  amoreau@oregroup.ca

www.americaneaglegold.ca

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.  Certain information in this press release may contain forward-looking statements.  Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to exercise its option to acquire the Project as anticipated and whether the Company's exploration efforts on the Project produce the results that are anticipated by management.  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.