Western Alaska Minerals Corp. Reports $8.86 Million Net Loss for Fiscal Year 2025

Western Alaska Minerals Corp. (WAM) reported a net loss of $8.86 million for the fiscal year ending December 31, 2025, an increase from a loss of $7.28 million in the previous year. The company's operating expenses decreased to $6.14 million from $7.25 million, primarily due to reduced exploration expenses and management fees. Despite the decrease in operating expenses, the overall loss increased due to a significant loss on the recognition of derivative warrant liabilities. The company continues to have no operating revenue, relying on external financing to support its exploration activities.

In terms of financial position, WAM's total assets rose to $16.72 million in 2025, up from $8.64 million in 2024, largely due to increased cash reserves from financing activities. Current assets increased to $9.31 million, while current liabilities also rose to $8.13 million, resulting in a working capital of $1.18 million. The company’s cash position improved significantly, with cash and cash equivalents totaling $9.05 million at year-end, compared to $0.85 million in the prior year.

WAM has made strategic advancements in its exploration efforts, particularly at the Illinois Creek and Waterpump Creek projects. The company reported an initial inferred mineral resource estimate for Waterpump Creek of 74.9 million silver equivalent ounces at a grade of 980 g/t AgEq. The 2025 drilling program included 2,964 meters across 13 exploration drill holes, with notable results from the Waterpump Creek South target and the newly discovered Silver Sage zone. The company plans to continue its exploration activities in 2026, focusing on expanding mineral resources and conducting further drilling.

The company has also undergone significant organizational changes, including a name change from Western Alaska Minerals Corp. to Alaska Silver Corp. in April 2025, and subsequently to Alaska Silver USA Corp. in January 2026. This rebranding aligns with its focus on silver and other critical minerals. WAM's exploration strategy is supported by a robust infrastructure, including a fully operational camp and drilling equipment, which positions the company to advance its projects effectively.

Looking ahead, WAM's management has expressed optimism about the potential for future exploration success, contingent on securing additional financing and achieving positive results from ongoing drilling programs. However, the company acknowledges the inherent risks associated with mineral exploration, including market volatility and regulatory challenges, which could impact its ability to achieve profitability in the future.