Alaska Silver

What Alaska Silver does

Alaska Silver Corp. (TSXV: WAM, OTCQX: WAMFF; formerly Western Alaska Minerals Corp.) is a junior mining exploration company developing high-grade silver, gold, and critical-mineral resources within the Illinois Creek Mining District in western Alaska. The company's asset base is built around a district-scale Carbonate Replacement Deposit (CRD) system along an 8-km mineral corridor on a 100%-owned, 80,895-acre (32,737-hectare) package of State of Alaska mining claims. Its flagship resource is the Waterpump Creek high-grade silver deposit — 75 Moz AgEq at 980 g/t AgEq (Inferred) with contained gallium, the U.S. #1 critical mineral — paired with the historic Illinois Creek oxide gold-silver deposit (260 Koz Au and 8.3 Moz Ag Indicated; 290 Koz Au and 10.4 Moz Ag Inferred), which is amenable to low-cost heap or vat leach recovery. Adjacent exploration targets include the Round Top porphyry Cu-Mo-Ag system, TG/TG North CRD prospects, the Honker low-sulfidation gold vein target, and the 2025 Silver Sage discovery.

The exploration approach combines 3D distributed-array IP/resistivity and CSAMT geophysical surveys with systematic diamond drilling using two company-owned drill rigs, supported by on-site infrastructure (airstrip, camp, fuel storage) that reduces unit drilling cost. Alaska Silver is pre-revenue; it funds exploration exclusively through equity capital raises (cumulative disclosed financings exceed C$43M since the November 2021 RTO listing, including a US$13.8M raise in October 2025) and debt settlements, with management fees previously deferred and settled via share issuance. The company sells exposure to its mineral assets through public equity markets (TSXV and OTCQX) to institutional and retail mining investors, supplemented by active participation in precious-metals investor conferences across North America and Europe.

The company's go-to-market is investor-relations-led rather than product-sales-led. Distribution of value occurs through news-flow on drilling, resource updates, and NI 43-101 filings; conference roadshows; and dual-listing liquidity. A leadership transition is underway: Aaron Schutt — former President & CEO of the $500M+ Alaska Native regional corporation Doyon Limited — has been appointed CEO effective October 1, 2026, succeeding founder Kit Marrs, who becomes Executive Chairman. Other recent strategic actions include the corporate rebrand from Western Alaska Minerals to Alaska Silver (April 2025), the February 2026 NI 43-101 resource update showing materially expanded Indicated and Inferred ounces, and the March 2026 simplification of share capital structure.

Name

Alaska Silver

Legal name

Alaska Silver Corp.

Website

https://alaskasilver.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Alaska Silver Corp. is a junior mining exploration company developing high-grade silver, gold, and critical-mineral (gallium) resources within an 8-km Carbonate Replacement Deposit system on 100%-owned State of Alaska claims at the Illinois Creek Mining District, serving public-equity investors via TSXV and OTCQX listings.

Ownership category

akta.pro rank

Product category

Mineral Exploration & Resource Development

NAICS

Gold Ore and Silver Ore Mining (21222)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Gold Mining (IMAKAEAA), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mineral exploration services
• Silver mining
• Critical minerals development
• Carbonate replacement deposits
• Mineral resource estimation

Headquarters

HQ city

Tucson

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Pre-Revenue Exploration Stage: Company is pre-revenue and does not generate operational income. Funded entirely through equity capital raises, debt settlements, and potential future asset transactions or joint ventures. Management fees were deferred and settled via share issuance in 2026.
2. Equity Financings: Completed multiple brokered and non-brokered offerings including US$13.8M (Oct 2025), C$7M brokered offering (May 2023), C$8M brokered offering (Apr 2023), and C$12M financing (Aug/Sep 2022)

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Alaska Silver is a pre-revenue junior mining exploration company that discovers, advances, and develops high-grade silver, gold, and critical mineral resources within its 100%-owned 80,895-acre Illinois Creek Mining District land package in western Alaska. The company's core focus is the carbonate replacement deposit (CRD) system spanning the Waterpump Creek high-grade silver deposit (75 Moz AgEq, containing gallium) and the Illinois Creek oxide gold-silver deposit, with additional exploration targets at Round Top, TG/TG North, Honker, and Silver Sage. Activities include diamond drilling, geophysical surveys, and NI 43-101 compliant resource estimation aimed at future partnership or production.

Product overview

Alaska Silver is a junior exploration company developing critical minerals and high-grade silver resources within the Illinois Creek Project, a prolific 8-kilometer mineral corridor in western Alaska. The company's portfolio centers on carbonate replacement deposit (CRD) systems anchored by two major assets: the high-grade Waterpump Creek silver deposit containing 75 Moz AgEq with gallium (U.S. #1 critical mineral), and the historic Illinois Creek oxide gold-silver mine with 260 Koz Au and 8.3 Moz Ag indicated resources. These deposits are separated by 8 km of high-potential exploration ground within a 100%-owned 80,895-acre land package. The company is pursuing simultaneous resource expansion at Waterpump Creek and new discovery opportunities at the Silver Sage prospect, while advancing regional exploration targets including Round Top porphyry, TG/TG North CRD prospects, and the Honker gold vein target.

Differentiator

Problem solved

Functional benefit

Products and services

• Illinois Creek Project Past-producing oxide gold-silver deposit in western Alaska forming part of the Illinois Creek-Waterpump Creek CRD system. The asset is being advanced toward potential heap or vat leach production based on NI 43-101 Indicated Resources of 260 Koz Au and 8.3 Moz Ag and Inferred Resources of 290 Koz Au and 10.4 Moz Ag.
• Waterpump Creek Flagship high-grade silver deposit in western Alaska containing 75 Moz AgEq of Inferred Mineral Resources at 980 g/t AgEq, with grades of 279 g/t silver, 11.28% zinc, and 9.87% lead, plus gallium (U.S. #1 critical mineral). The deposit remains open for expansion north and south and is the centerpiece of the company's CRD exploration thesis.
• Round Top - TG/TG North Porphyry copper-molybdenum-silver target at Round Top with adjacent CRD prospects at TG/TG North, located approximately 20 km from the main Illinois Creek system. Held as exploration targets with potential for additional resource discoveries.
• Honker Low sulfidation gold vein target adjacent to the Illinois Creek-Waterpump Creek CRD system, representing one of several exploration targets within the broader Illinois Creek Mining District.
• Silver Sage Discovery New high-grade silver-lead discovery zone identified in 2025 within reactive carbonate rocks of the Illinois Creek Mining District. Grass roots exploration, surface trenching, pit sampling, and initial drilling uncovered a 550-meter-long breccia zone with assay values up to 1,235 g/t silver. The discovery is a primary target of the company's 2026 6,000-meter drilling program.
• Critical Minerals - Gallium Strategic commodity exposure through gallium mineralization at the Waterpump Creek deposit, designated as the U.S. #1 critical mineral. Alaska Silver's 32,737-hectare 100%-owned property on State of Alaska mining claims is positioned as a domestic critical minerals development opportunity aligned with U.S. supply security priorities.

Quantifiable outcome

• Indicated gold ounces increased by 11% and silver ounces by 7% in 2026 NI 43-101 update
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Doyon LimitedcoreStrategic or Co-development Partner · 13 May 2026Aaron Schutt, President and CEO of Doyon Limited (Alaska Native corporation with $500M+ revenue), appointed to Alaska Silver Board of Directors and subsequently as CEO (effective October 2026). Doyon is a major Alaska-based natural resource development company with extensive experience in responsible resource development and arctic-focused businesses. Schutt brings 20 years of Alaska resource development experience and native Alaskan heritage with deep roots in Interior Alaska.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Coeur Mining: Coeur is a US-listed silver-focused mid-tier producer with operations across North America. Its silver-focused portfolio and active exploration program targeting high-grade CRD-style and vein deposits in tier-1 jurisdictions makes it a closely comparable peer in scale and strategic intent.
• Hecla Mining Company: Hecla operates the high-grade Greens Creek Mine in Alaska — the same mine where Alaska Silver's VP Exploration spent 16 years. Hecla is the largest silver producer in the US and a natural acquirer of high-grade Alaska silver assets, making it the most directly comparable incumbent peer.
• Avino Silver & Gold Mines Ltd. Avino is a Canadian-listed silver-gold producer operating the Avino Mine in Mexico. Comparable as a silver-focused intermediate with combined production and exploration, often cited alongside junior silver developers for benchmarking resource economics.
• First Majestic Silver Corp. First Majestic is a Canadian mid-tier silver producer operating multiple Mexican mines. Comparable as a silver-focused intermediate that emerged from junior exploration, providing a benchmark for what a successful scale-up pathway looks like for high-grade silver juniors like Alaska Silver.

Direct peers

• MAG Silver Corp. MAG Silver is a Canadian-listed junior focused on high-grade silver at the Juanicipio project in Mexico (with Fresnillo as operator). Closely comparable as a high-grade silver development-stage junior with district-scale underground CRD-style mineralization.
• Blackrock Silver Corp. Blackrock Silver is a junior explorer advancing high-grade silver-gold projects in Nevada. Comparable as an early-stage high-grade silver junior with district-scale potential and similar market capitalization profile.
• Dolly Varden Silver Corporation: Dolly Varden is a Canadian junior advancing high-grade silver-gold projects in British Columbia's Golden Triangle. Directly comparable as a high-grade silver junior explorer using systematic drilling to expand resources, with similar size and TSXV listing profile.
• Alexco Resource Corp. Alexco holds the historic Keno Hill silver district in Yukon, Canada — among the highest-grade silver operations globally. Comparable as a high-grade silver district-scale junior in a Tier 1 North American jurisdiction pursuing both resource growth and near-term production.
• Summa Silver Corp. Summa Silver is a Canadian junior explorer focused on high-grade silver-gold projects in the western US (Nevada and New Mexico). Closely comparable as a high-grade silver exploration junior at similar scale and stage, pursuing resource expansion through systematic drilling.

Others

• Ambler Metals LLC: Ambler Metals is the JV entity (Trilogy Metals + South32) advancing the Upper Kobuk Mineral Projects in Alaska, including the Bornite copper deposit — referenced in Alaska Silver's executive team's discovery history. Comparable as an Alaska-focused critical minerals development venture with overlapping geological and operational context.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/alaska_silver
• LinkedInlinkedin.com/company/alaskasilver

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alaska Silver