Toronto, Ontario--(Newsfile Corp. - May 15, 2026) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") confirms that drilling is now underway at its NAK copper-gold porphyry project in central British Columbia. Two diamond drill rigs are on site and turning, with the first holes of the 2026 campaign already in progress. A third rig is expected to be mobilized to site on or about May 25, 2026.

With more than 50,000 metres planned across the current drill season, which is expected to run through into 2027, this is the largest exploration program the Company has ever undertaken. The program is fully funded from American Eagle's cash on hand and is designed to support a future maiden Mineral Resource Estimate and subsequent economic studies.

CLICK HERE to View May 8, 2026 News Release Outlining 2026 Drill Plan

About American Eagle Gold Corp.

American Eagle is advancing the NAK copper-gold porphyry project in British Columbia's Babine district, supported by approximately $55 million in cash and cornerstone shareholders South32, Teck, Eric Sprott, and Ore Group.

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and independent "qualified person" for the purposes of NI 43-101, has verified and approved the technical information contained in this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-looking statements are based on expectations, estimates, projections, and interpretations as at the date of this news release and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the scope, scale, timing, and progress of the Company's current drill program at the NAK project, which is expected to run through into 2027; the planned completion of more than 50,000 metres of drilling; the expected mobilization of a third drill rig on or about May 25, 2026; the program being fully funded from cash on hand; the use of drill results to support a future maiden Mineral Resource Estimate and subsequent economic studies; the anticipated flow and timing of results through the balance of 2026 and into early 2027; the Company's cash position; and other statements that are not historical facts. Forward-looking statements are frequently identified by words such as "plans," "expects," "anticipates," "intends," "believes," "estimates," "targets," "potential," "will," "may," "could," and similar expressions.

Forward-looking statements are subject to a variety of risks and uncertainties, including, without limitation: risks related to mineral exploration and development activities; the interpretation of exploration and drill results; uncertainty as to whether exploration results will lead to the delineation of a mineral resource or support a maiden Mineral Resource Estimate or economic studies on the anticipated timeline or at all; commodity price fluctuations, in particular for copper and gold; financing risks; permitting and regulatory approvals; environmental and First Nations consultation risks; operational and logistical challenges, including weather, wildfires, and site access; availability of drill rigs, equipment, contractors, and personnel; changes in laws and regulations; market conditions; and general economic, market, or business conditions. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297622

Source: American Eagle Gold Corp.