#1Scalable High-Grade Silver-Zinc-Lead Discoveries WESTERN ALASKA MINERALS TSX-V: WAM westernalaskaminerals.com April 2024#2Forward Looking Statements This presentation contains numerous forward-looking statements relating to Western Alaska Minerals Corp.'s exploration and potential mining business, including estimated production data, expected production and operating schedules, results of operations, reserves and resources, expected capital costs, mine plans, mine lives, other expected operating data, permitting and other regulatory approvals. Such forward-looking statements are identified by the use of words such as “believes,” “intends," "expects," "hopes," "may," "should," "will," "plan," "projected," "contemplates," "anticipates", "estimates", "potential", "likely" or similar words. Actual production, operating schedules, results of operations, reserves and resources, capital costs, mine plans, mine lives, permitting and regulatory approvals could differ materially from those projected in the forward-looking statements. The factors that could cause actual results to differ materially from those in the forward-looking statements include: (i) the risk factors set forth in Western Alaska Minerals Corp.'s disclosures; (ii) risks and hazards inherent in the mining business (including risks inherent in discovering and developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions); (iii) changes in the market prices of gold, copper and silver and a sustained lower price environment; comparative valuations to peer exploration stage companies; (iv) uncertainties inherent in Western Alaska Minerals Corp.'s production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground condition and grade variability; (v) any future labor disputes or work stoppages; (vi) uncertainties inherent in the estimation of mineral resources and reserves and future production; (vii) changes that could result from Western Alaska Minerals 's future acquisition of new mining properties or businesses; (viii) reliance on third parties to operate certain mines where Western Alaska Minerals Corp. owns mineral production and; (ix) the absence of control over mining operations in which the Company or any of its subsidiaries holds royalty or streaming interests and risks related to these mining operations (including results of mining and exploration activities, environmental, economic and political risks and changes in mine plans and project parameters); (x) the loss of any third-party smelter to which Western Alaska Minerals Corp. markets copper, silver and gold; (xi) effects of environmental and other governmental regulations; (xii) risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries; and (xiii) Western Alaska Minerals Corp.'s possible inability to raise additional financing necessary to conduct its business, make payments or refinance its debt. Readers are cautioned not to put undue reliance on forward-looking statements. Western Alaska Minerals Corp. disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. The scientific and technical information contained in this presentation is derived from or supported by the Technical Report (the "Technical Report") prepared in accordance with National Instrument 43-101 entitled "Western Alaska Minerals Corp. ILLINOIS CREEK PROJECT UPDATE", prepared by Bruce Davis, Robert Sim, Jack DiMarchi and Deepak Malhotra with an effective date of May 22, 2023, which has been filed under the SEDAR profile of 1246779 B.C. Ltd on September 26, 2023. The scientific and technical information contained in this presentation has been reviewed and approved by Andy West, a Qualified Person as defined by National Instrument 43-101. Mr. West is the Vice President for Exploration for Western Alaska Minerals with MS in Geology and 30 plus years of experience in mineral resources, mine, and exploration. He is a Certified Professional Geologist with the American Institute of Professional Geologists (AIPG CP-11759). This presentation uses Canadian mining terms as defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves (the "CIM Standards"). The CIM Standards differ significantly from standards in SEC Industry Guide 7 under the U.S. Securities Act ("SEC Industry Guide 7") and Subpart 1300 of Regulation S-K for mining disclosures ("SubPart 1300 Standards") and may not be comparable to similar information made public by United States companies subject to reporting and disclosure requirements under United States federal securities laws and the rules and regulations promulgated thereunder. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities. None of the securities to be issued in the proposed concurrent financing or to be issued pursuant to the proposed RTO transaction have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued pursuant thereto will be issued in reliance upon available exemptions from such registration requirements. TSX-V: WAM 2#3TSX-V: WAM High Grade Silver Initial Resource Estimate: 75Moz AgEq at 980g/t AgEq February 2024 → Quality High grade deposits with good margins and smaller capex get built Ounces Unlike lower grade projects with big development capex are challenged Focus • Investor focus should be on projects which demonstrate the potential for high margins and manageable capital intensity the path to profitability, in a realistic timeframe 3#4- Our Asset Quality, High-Grade Ounces • WPC initial sulfide resource, Feb 2024 Resource Estimation • High-grade SILVER, LEAD, ZINC WATERPUMP CREEK • Thick mining widths Open to expansion Tonnes Ag Pb (g/t) (%) 2,380,000 279 9.87 Zn AgEq ZnEq Ag AgEq Zn (%) (g/t) (%) (Moz) (Moz) (Mlb) (Mlb) 11.28| 980 26.4 21.4 74.9 517 591 Pb ZnEq (Mlb) 1,383 TSX-V: WAM Oxide Sulfide Assays Pb/Zn % > 10 10 5-10 1-5 0 50 100 m Note: AgEq cut-off grade of 200 g/t AgEq calculation is based on estimated recoveries from preliminary metallurgical test work of 75% Ag, 70% Pb, and 84% Zn and metal prices of US$24.00/oz Ag, US$1.00/lb Pb, and US$1.30/lb Zn. See Appendix for complete notes. The AgEqR calculation is AgEqR = (Ag g/t x 0.75) + (Pb%/100 × 1998.99) + (Zn%/100 × 3118.47). 4#5Grade is King! 1000 800 600 400 200 0 Grade AgEq g/t Inferred Measured & Indicated Waterpump Creek Western Alaska Panuco Vizsla Tonopah West Blackrock Silver Panuco Vizsla Kitsault Dolly Varden Cerro Las Minitas Southern Silver San Marcial GR Silver La Preciosa Avino Illinois Creek Gossan Western Alaska El Tigre Silver Tiger Los Ricos GoGold Resources La Virginia Silver Viper Los Reyes Prime Mining Promontorio-La Negra Kootenay Silver Sand New Pacific TSX-V: WAM Diablillos Abra Silver Carangas New Pacific Corani Bear Creek Ixtaca Almaden Minerals Cordero Discovery Silver LO#6Pipeline of High-grade Silver Polymetallic Projects Over the Last 10 Years Our select future peers and what their projects tell us • Low initial Capex due to smaller thruput • Total Opex costs of $100-120/tonne (~130-155 gpt AgEq cutoff) $ Superior Economics • Quick payback • High IRR's • >10 Moz/annum AgEq production profile Contained HG AgEq Company Deposit Stage Million Tonnes Grade AgEq g/t Market Cap US$ Moz** SilverCrest Las Chispas Production 3.4 719 79 987 Mag Silver Juanicipio* Production 25.0 663 234 848 Adriatic Vares Production 7.3 485 114 721 Vizsla Copala Resource 10.3 549 182 356 WAM Waterpump Ck Initial Resource 2.4 980 75 32 ** *100% project basis shown (Mag Silver - 44% basis) company basis Sources: for this data on this slide and slides 20,26,27: company presentations and reports, SEDAR All project resources not reported - only high-grade Proven and Probable reserves and potential high-grade resources >500 gpt AgEq Market cap based in FD shares and trading as of Feb 1, 2024 TSX-V: WAM 6#7WAM's Critical Minerals Zinc Zinc is pivotal in industrial applications, primarily for its corrosion-resistant properties in galvanization and its critical role in alloy production, such as brass. It's also essential in battery technology and as a catalyst in chemical manufacturing, showcasing its versatility across various sectors. 30 Galvanization Zn 4 Batteries Agriculture ✓ Chemical Industry Electronics Telecommunications Medical Technology Solar Energy 31 Ga Gallium Gallium is crucial in electronics and healthcare, enhancing device performance and aiding in diagnostics. Its unique properties make it essential for semiconductors, solar panels, and safe thermometers, proving vital for technological advancement, medical precision, and in military components. TSX-V: WAM 7#8People Due Diligence Checklist for Junior Mining Investment. • Seasoned team with proven exploration success Local support and social license Left: CEO Kit Marrs, Right: Dr. Peter Megaw, world renowned CRD expert and technical advisor Location • TSX-V: WAM Capital Stable, friendly jurisdiction Developable setting and realistic infrastructure needs (both for engineering and environmental) Strong capital structure Leadership with vested interest 8#9We Surpass the Fundamental Junior Mining Investment Due Diligence requirements Here's why: © Team Proven Success Capital Structure Tight, Management owns ~30% Jurisdiction Safe and supportive Title/Asset 100% Owned with no royalties. High-grade. Development Straight-Forward Social License Only Projects with this Succeed. WAM has this. TSX-V: WAM#10ii. Management & Technical Team Kit Marrs, B.SC., M.Sc. CEO, Co-Founder, Director Anaconda, First Project Manager at Illinois Creek, Greens Creek, Ambler District Joe Piekenbrock, B.A., M.Sc. Chief Exploration Officer 2009 PDAC Thayer Lindsley & AME Colin Spence Awards: Donlin Gold & Bornite Copper deposits Alex Tong, CPA, CA CFO 20+ years experience in mining finance, corporate transactions, M&A Andy West, B.Sc., M.Sc., CPG VP Exploration 25+ years Alaska-focused mineral exploration experience: Greens Creek, Trilogy Metals Dr. Peter Megaw, Ph.D. Technical Advisor World-renowned expert on CRDS Instrumental in discoveries: Platosa, Juanicipio, Cinco de Mayo Darwin Green, B.Sc., M.Sc., P.Geo. Technical Advisor HighGold Mining CEO, 20+ yrs Alaska experience. Financings, transactions, JV, Corp Dev. TSX-V: WAM Team Capital Structure Jurisdiction Title ☐ Developability Social License 10#11Board of Directors Nathan Brewer, B.A., CPG 40 years experience: grass-roots discovery to feasibility: Gold Fields, Anaconda, Echo Bay, Barrick, Homestake. Led Waterpump Creek discovery (1980s) Susan Mitchell 30+ years capital markets experience CIBC Finance & Treasury division team that raised >C$1Bn in primary capital Kit Marrs, B.Sc., M.Sc. Anaconda, First Project Manager at Illinois Creek, Part of Greens Creek, Ambler District discoveries TSX-V: WAM Kevin Nishi, BBA, CPA 35 years financial experience, TSX and TSX Venture exchange-listed public companies in Canada and the United States David Smallhouse, B.S., M.S. 21+ years' experience in directorship, Miramar Ventures LLC WAM founding shareholder Team Capital Structure Jurisdiction Title Developability Social License 11#12Capital Structure Subordinate Voting Shares 28.1 Million Proportionate Voting Shares (As-Converted*) ....... 22.5 Million Other 42% Options 3.8 Million Warrants (c$3.25/unit exp. May 2026) 2.1 Million Fully Diluted 56.5 Million Ownership Team Capital Structure Jurisdiction Title ☐ Developability Social License Directors & Officers 32% Fully Diluted Market Capitalization .............C$34.8 Million at C$0.56/share (VWAP March 2024) *Non-trading shares owned by US-shareholders Institutional 26% Management owns ~30% of shares Institutional Investors Analyst Coverage: Michael Gray, Agentis Capital, Mike Niehuser, Roth Capital DELBROOK -CAPITAL- Commodity Discovery Fund CRESCAT CAPITAL VALUE DRIVEN PERFORMANCE The Company's class of proportionate voting shares are owned by US-shareholders. The purpose of the proportionate voting share class is to allow the Company to qualify as a foreign private issuer under United States securities laws. Each proportionate voting share is convertible into 100 subordinate voting shares at the request of the shareholder and in the discretion of the Company. Because of these conversion rights, for market capitalization and financial analysis purposes, the Company believes it is appropriate to convert the proportionate voting shares to subordinate voting shares and add the product of the conversion (approximately 22,480,100 subordinate voting shares) to the current number of subordinate voting shares outstanding. Further information regarding the Company's share structure is available upon request. TSX-V: WAM 12#13Alaska: A Stable, Mining-Friendly Jurisdiction. Stable Jurisdiction Six large operating mines Ranked 13th out of 63 mining jurisdictions* Straight-forward permitting (5-year exploration permit) ALASKA Team Capital Structure Jurisdiction Title Developability Social License RED DOG UPPER KOBUK/BORNITE YUKON RIVER GRAPHITE CREEK FORT KNOX Fairbanks Nome "Galena POGO ILLINOIS CREEK Western Alaska Minerals DONLIN CREEK >> Well defined and established title Proximity to marine highway •5° Pr •S Access to Yukon River via a 45-kilometer winter road *Fraser Institute 2022 survey TSX-V: WAM Bethel Anchorage 0 YUKON Western Alaska Project Active Mine Permitting Deposit Advanced Exploration Mineral Occurrence 13#14Illinois Creek Project - Alaska State Claims All WAM claims and development infrastructure on State of Alaska land Claims totaling 29,500 hectares (73,000 acres) 100% owned - No underlying third-party agreements and no royalties YUKON RIVER TSX-V: WAM PROPOSED BARGE FACILITY HONKER GOLD Proposed Road Access to Yukon River ILLINOIS CREEK MINE ILLINOIS CREEK KHOTOL TG NORTH ROUND TOP ROUND TOP WATERPUMP CREEK PAW PRINT Team ✓ Capital Structure Jurisdiction Title Developability Social License WAM Claims Proposed Road access Existing roads Airstrip Target Area 0 5 10 km 14#15C130 on IC 4,400 ft Airstrip Infrastructure The project is accessible via large cargo aircraft. Our internal road system allows for road-supported drilling. 45-person camp and newly upgraded double-wall fuel storage capacities. TSX-V: WAM Team ✓ Capital Structure Jurisdiction Title Developability Social License The Yukon river measures up to 1 mile wide and 50' deep 15#16Development Infrastructure YUKON RIVER PROPOSED BARGE FACILITY WAM Claims Proposed Road access Existing roads Airstrip Target Area 0 2.5 5 km TSX-V: WAM Proposed All Weather Road Access to Yukon River ILLINOIS CREEK MINE Team ✓ Capital Structure ་་་་ Jurisdiction Title Developability Social License WATERPUMP CREEK 16#17TSX-V: WAM Team ✓ Capital Structure Jurisdiction Title Developability Social License Social License and Responsible, Sustainable Exploration • Local hiring and training initiatives since 2017 • Commitments Work training scholarships to local villages • Ongoing water, fish habitat, wetlands, engineering baseline studies Working to provide positive economic growth through job and educational opportunities E Actions . History of good local hire and relationships • Alaska's first heap leach reclamation project at the past producing Illinois Creek Mine WAM has reinitiated project de-risking studies 17#1811. The Next Step - Scale - Major Growth Potential from our Initial Resource LEGEND Mineralization North Targets >50 ppm Pb Soils 1 km Waterpump Creek Resource Ag+Pb+ Zn Distal ° ° LH Target LH Gossan East IC Manto Illinois Creek Resource Au + Ag + Cu Proximal TSX-V: WAM Warm Springs Target 6000m₁ Cu + Au Proximal Tintic Santa Eulalia Distal 5000m1 Zn + Ag + Pb Distal Proximal 1 km Main Tintic District, Utah (modified from Morris, 1968). 19.1 Mt @ 14.2 opt Ag, 5.9% Pb, 1.2% Zn, 0.66% Cu, 0.145 opt Au 3 x 5 km 1 km Santa Eulalia West Camp orebodies (modified from Hewitt, 1968 and Megaw, 1990). 300yrs of production, 51.6 Mt 10.0 opt Ag, 8.2% Pb, 7.1% Zn 3 x 4 km 18#19Major New Targets for Expansion Potential WPC MINERALIZATION OPEN TO THE NORTH ILLINOIS CREEK MINE Au/Ag Oxide Resource 38.3Moz AgEq Ind. 15.8Moz AgEq Inf. TSX-V: WAM OXIDE MINERALIZATION EAST IC MANTO⚫ WARM SPRINGS FAULT LH GOSSAN MINERALIZATION WATERPUMP CREEK FAULT WATERPUMP CREEK Initial Resource Estimation 74.9Moz AgEq Inf. LH TARGET ZONE 3D IP SURVEY 2023 WARM SPRINGS TARGET ZONE CSAMT SURVEY 2022 0 Fault Oxide Resource Sulfide Resource Oxide No Resource Multi-Element Soil Anomalies 0.5 1 km 19 I 6 KM#20LH Target: Analog to WPC · LH zone appears to bear the same hallmarks as the WPC zone: Geochemical anomalies Geophysical responses Oxide (Gossan) mineralization from historic drilling TSX-V: WAM LH GOSSAN MINERALIZATION WATERPUMP CREEK FAULT 1/ WPC MINERALIZATION OPEN TO THE NORTH WATERPUMP CREEK Initial Resource Estimation 74.9Moz @ 980 g/t AgEq Inf. LH TARGET ZONE WARM SPRINGS FAULT 250 500m Fault Oxide Resource Sulfide Resource Oxide No Resource Multi-Element Soil Anomalies 20#21CRD Model Driving Exploration What are CRD's? ✔ CRD's are the fingertip of the porphyry-skarn-CRD system ✔ Carbonate-hosted . Thick packages of dolostone host rocks in IC district = potential for mineralization ✔ Intrusion-related Porphyry is driving the system (still undiscovered at IC) ✔ Multiphase + Polymetallic (Zoned) • . Ag-Pb-Zn (WPC) Au-Ag-Cu (IC) High-temp (>250°) ✔ Formed by the direct continuous replacement of carbonate rocks by massive sulfides • Entire mineralized system are often km's in length ✔ Ore body morphology . • Mantos - lateral massive replacement of selective beds (horizontal) Chimneys thick structural cross cutting bodies (vertical) TSX-V: WAM Fugitive Calcite Veins IC (Au-Ag-Cu) chimney WPC (Ag-Pb-Zn) Mantos 1 km Minerlization System Alteration Host Rocks Skarn CRD Cu Zn Pb Intrusive Stock (Porphyry) Marble Carbonate Rock Porphyry Alteration Halo Country Rock Dikes Hornfels (modified after Megaw 1988, 1998, 2020) 21#22WAM's Relatively Small Meterage Compared to Select Peers Meters Drilled to Date - Major Silver Development Projects Waterpump Creek Western Alaska Major Silver Development Projects (companies) La Virginia Silver Viper Promontorio-La Negra Kootenay Illinois Creek Western Alaska Carangas New Pacific Cerro Las Minitas Southern Silver Corani Bear Creek El Tigre Silver Tiger Silver Sand New Pacific Tonopah West Blackrock Silver Diablillos Abra Silver San Marcial GR Silver Los Reyes Prime Mining Kitsault Dolly Varden Los Ricos GoGold Resources Ixtaca Almaden Minerals Cordero Discovery Silver La Preciosa Avino Panuco Vizsla Illinois Creek Project Drilling Average >146K meters 1980-2000 2000-2017 2018-2020 2021-2023 50,000 100,000 150,000 200,000 250,000 300,000 350,000 ~23.4K meters on Waterpump Creek Discovery ~44.4K meters on historic IC Oxide resource TSX-V: WAM 22#23Timeline 1980-84 Original Anaconda Discoveries: IC, WPC, LH Round Top, Honker (Au, Ag, Cu, Pb, Zn) 1996-2000 2002-04 Mine Reclaimation Piekenbrock stakes IC mine & WPC CRD claims 2005-06 2008 Marrs stakes Round Top, Honker Claims (Au-Cu-Mo) 2018-2020 2021 WPC CRD re-discovery (Ag-Pb-Zn), High grade Au 2022 discoveries at Honker, Begin trading TSX-V: WAM 2023 2024: System-wide CRD drill program: LH,WPC and IC * Infill WPC intercepts, LH drilling IC Mine Production (Au-Ag) NovaGold drills WPC + LH Consolidation of WAG&C and Piek claims, Round Top Drilling 2016-2019 Major WPC Intercepts: Expanded orebody to 450m strike length and >100m thickness *Funding dependent 23 TSX-V: WAM#24Drilling Waterpump Creek & LH concurrent Exploration 2024 Proposed Plans Drill test LH Target: Southern expansion of high-grade WPC mineralization Drill test WPC North Drill test Warm Springs Target: down-dip extension of IC and East IC Manto Investigate porphyry targets? Mid-Term Goals +5 MT inferred sulfide mineral resource (150Moz AgEq) minimum mid-tier development scale Additional deposit discoveries: connect & scale up district-wide CRD system De-Risking Infrastructure Metallurgy Other Studies Road access alignment & PFS level costing Initial WPC sulfide metallurgy Continued baseline studies PFS level costing and AIDEA engagement Scoping level recoveries, work index, concentrate characteristics Scoping level permitting and environmental considerations TSX-V: WAM 24#253 Month Stock Chart Share Price Volume Initial Resource Estimate 75Moz at 980AgEq announced (Feb 22) 1 0.75 (0.68 0.5 0.25 ul.... Mar 11 200K 71K OK Dec 11 Dec 18 Jan 1 Jan 8 Jan 15 Jan 22 Jan 29 Feb 5 Feb 12 Feb 19 Feb 26 Mar 4 TSX-V: WAM 25#26Appendix Waterpump Creek Photo: IC historical oxide gold mine pit and gossan. TSX-V: WAM 26#27Waterpump Creek has the Highest Grade on an AgEq basis at 977 g/t AgEq Waterpump Creek Western Alaska (UG) Cerro Las Minitas Southern Silver (UG) Illinois Creek Gossan Western Alaska (OP) Promontorio-La Negra Kootenay (OP) Diablillos Abra Silver (OP) Silver Sand New Pacific (OP) Carangas New Pacific (OP) Ixtaca Almaden Minerals (OP) CRD, BRX, Stockworks, Skarn (3D Ore Shape) Grade AgEq g/t M&I Inferred 0 100 200 300 400 500 600 700 800 900 1000 Panuco Copala vein Vizsla (UG) Tonopah West Blackrock Silver (UG) Panuco Vizsla (UG) Kitsault Dolly Varden (UG) San Marcial GR Silver (UG) La Preciosa Avino (UG) El Tigre Silver Tiger (OP) Los Ricos GoGold Resources (OP) 0 100 Veins (2D ore shape) Grade AgEq g/t M&I Inferred 200 300 400 500 600 700 800 900 1000 Corani Bear Creek (OP) Cordero Discovery Silver (OP) La Virginia Silver Viper (OP) Los Reyes Prime Mining (OP) 0 200 400 600 800 1000 1200 1400 1600 0 200 400 Contained Moz AgEq 600 800 1000 1200 Contained Moz AgEq 1400 1600 TSX-V: WAM 27#28ery rate discovery AgEq Oz/meter drille pe Discovery Rate Per Meter Drilled: Comparing Deposit Types 9000 CRD, BRX, Stockworks, Skarn (3D ore shape) 8000 7000 6000 WAM's Average: 3,198 AgEq per meter drilled 5000 4000 3000 2000 1000 0 Waterpump Creek Western Alaska Illinois Creek Gossan Western Alaska Cerro Las Minitas Southern Silver Diablillos Abra Silver Promontorio-La Negra Kootenay i Silver Sand New Pacific Carangas New Pacific Corani Bear Creek Ixtaca Almaden Minerals Cordero Discovery Silver TSX-V: WAM Panuco Copala vein Vizsla Panuco Vizsla Tonopah West Blackrock Silver Veins (2D ore shape) 900 800 700 600 500 400 300 200 100 Kitsault Dolly Varden I gpt AgEq La Preciosa Avino San Marcial GR Silver Los Ricos GoGold Resources Los Reyes Prime Mining La Virginia Silver Viper El Tigre Silver Tiger Oz disc/meter ▲ M&I gpt AgEq Discovery oz/meter drilled - 3D deposits avg 3,480 AgEq oz discovered/meter drilled 2D deposits avg 982 AgEq oz discovered/meter drilled - 0 28#29Critical Ore Controls The secret ingredients for CRD's: A A Fluid source (Intrusive stock/porphyry) ☐ Currently undiscovered for the IC district Permissive carbonate host rocks for replacement >400 m of dolostone at IC • >600 m of dolostone at WPC Plumbing (faults) for the mineralized fluids WPC fault, Warm Springs fault (target), and IC fault Cap rock to concentrate the fluids 3 cap rocks in district: 2 schists (WPC) and greenstone (IC) How are CRD's formed? The mineralizing fluids coming from the intrusive stock (source/porphyry) are very hot and acidic. The metals are transported in this fluids along faults, following the path of least resistance. When the hot, acidic fluid interacts with the basic carbonate rocks, an acid neutralization reaction occurs (think baking soda and vinegar), which causes the metals to deposit as sulfides and causes the system to self-stope, creating km-scale mineralized bodies TSX-V: WAM WPC22-20 185.2-185.8 m 195 gpt Ag, 41.1% Zn, 5.0% Pb 2016 gpt (64.8 opt) AgEq WPC22-22 167.5-168.6 m 1355 gpt Ag, 22.3% Zn, 38.2% Pb 3449 gpt (110.9 opt) AgEq WPC22-20 193.4-194.7 m 392 gpt Ag, 3.4% Zn, 12.7% Pb 926 gpt (29.7 opt) AgEq WPC22-17 130.4-131.4 m 614 gpt Ag, 24.4% Zn, 31.5% Pb 2884 gpt (92.7 opt) AgEq WPC22-20 203.3-204.0 m 270 gpt Ag, 11.5% Zn, 9.6% Pb 1035 gpt (33.3 opt) AgEq#30/i1. CRD Exploration Implications. - ✓ Scale – significant untapped potential Continuous mineralization reaching km's in length from porphyry (source) to CRD extents (distal) Systems are high-grade in nature High drill discovery rates (AgEq ounces/meter) ✔ District-scale vectoring is prominent; small-scale vectoring is challenging (somewhat drill-intensive) District scale classic porphyry metal zonation (Au, Cu, Zn, Pb, Ag, Mn) Lateral alteration vectors • • • Sanding (top photo: Illinois Creek Mine pit) Fugitive calcite (bottom photo: Manganiferous calcite = "BBQ Rock") Geochem haloes Very sharp ore zone boundaries Here's the exciting part: We've found two portions of the system: 1) High grade distal (Ag-Pb-Zn) mineralization at WPC and 2)Proximal (Au-Ag-Cu) mineralization 7.5 km along trend at IC. We have all the secret ingredients with an expansive mineralization footprint; we just need to drill it to demonstrate the continuous porphyry-skarn-CRD mineralization along the trend TSX-V: WAM Intense "Sanding" Alteration of Dolomite 30#31Gold & Copper Projects Illinois Creek NI 43-101 resource estimate, Sept. 2023: 373,000oz AuEq Ind. @ +1.3g/t AuEq* 152,000oz AuEq Inf. @ 1.44g/t AuEq* *Note: For complete resource disclosure at Illinois Creek, see Appendix. HONKER GOLD Proposed Road Access to Yukon River KHOTOL ILLINOIS CREEK MINE ILLINOIS CREEK TSX-V: WAM TG NORTH WATERPUMP CREEK PAW PRINT KAJ-06-83720 SGS 73.2 ROUND TOP Honker - Low Sulfidation Gold Vein system WAM Claims Historic Plant Site Proposed Road access Existing roads Airstrip Target Area LO 5 10 km Round Top Copper Porphyry Central Pit 72.0m Heap Leach Pad West Pit Past Producing Illinois Creek Gold-Silver Mine (Reclaimed 2002) -O 31#32Soil Geochemistry Lead 0 2 km 0 2 km WATERPUMP CREEK LH Soils ppm Pb 1,000 500 200 ILLINOIS CREEK P 100 50 25 15 5 2 km 0 Gold WATERPUMP CREEK LH Soils ppm Au 1,000 500 200 ILLINOIS CREEK 100 50 20 15 10 0 2 km 0 Zinc WATERPUMP CREEK LH Soils ppm Zn 1,000 500 200 ILLINOIS CREEK 150 100 75 50 25 0 Copper WATERPUMP CREEK LH Soils ppm Cu 1,000 500 250 ILLINOIS CREEK 150 80 40 20 10 0 32#33Resource Statement Waterpump Creek Sulfide Mineral Resource Estimate Mineral resources are stated based on the following assumptions: Estimated recoveries of 75% Ag, 70% Pb, and 84% Zn Metal pricing of US$24/oz Ag, US$1.30/lb Zn, and US$ 1.00/lb Pb The formulas for AgEq and ZnEq based on the above metal prices are AgEq (g/t)= Ag (g/t) + 28.56 x Pb(%) + 37.12 x Zn(%) and ZnEq (%) = Zn (%) + Pb(%) x 0.7692 + Ag (g/t) x 0.0269 The cut-off grade for resources considered amenable to underground extraction methods is 200 g/t AgEq and includes recoveries in the calculations: AgEq(recovery) = Ag (g/t) x 75% + 28.56 x Pb(%) x 70% + 37.12 x Zn(%) x 84%. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. Mineral resources in the Inferred category have a lower level of confidence than that applied to Indicated mineral resources, and, although there is sufficient evidence to imply geologic grade and continuity, these characteristics cannot be verified based on the current data. It is reasonably expected that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. Tonnes Average Grade Contained Metal Class (M) AgEq Ag Zn Pb ZnEq AgEq Ag Zn (g/t) (g/t) (%) (%) (%) (Moz) (Moz) (Mlbs) Pb (Mlbs) ZnEq (Mlbs) Inferred 2.38 980 279 11.28 9.87 26.4 74.9 21.4 591 517 1383 TSX-V: WAM 33#34Resource Statement Illinois Creek Oxide Combined In-situ and Leach Pad Mineral Resource Estimate In-Situ Mineral resources are stated as contained within a pit shell developed using metal prices of US$1,600/oz Au and US$20/oz Ag, mining costs of US$2.50/t, processing costs of US$10/t, G&A cost of US$4.00/t, 92% metallurgical recovery Au, 65% metallurgical recovery Ag and an average pit slope of 45 degrees. AuEq values are based only on gold and silver values using metal prices of US$1,600/oz Au and US$20/oz Ag. The cut-off grade for resources considered amenable to open pit extraction methods is 0.35 g/t AuEq or 40 g/t AgEq. It is assumed that the entire volume of the material on the leach pad will be processed and therefore, no selectivity is possible, and the Leach Pad Mineral Resources are presented at a zero-cut-off grade. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. Mineral resources in the Inferred category have a lower level of confidence than that applied to Indicated mineral resources, and, although there is sufficient evidence to imply geologic grade and continuity, these characteristics cannot be verified based on the current data. It is reasonably expected that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. Tonnes Average Grade Contained Metal Class (M) AgEq AgEq AuEq Ag Au AgEq AuEq Ag Au (g/t) (oz/t) (g/t) (g/t) (g/t) (Moz) (Koz) (Moz) (Koz) Indicated 8.7 136 4.4 1.33 34.4 0.9 38.3 373 9.6 253 Inferred 3.3 148 5.0 1.44 36.2 0.99 15.8 152 3.8 104 TSX-V: WAM 34