$WAMFF

Alaska Silver Corp.

CIK:0001893899|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
EXPENSES
Accretion expense	$ 2,137	$ 2,093	$ 4,274	$ 4,186
Consulting fees	161,735	110,109	305,162	154,316
Depreciation	110,442	110,529	220,884	220,884
Exploration expenses	2,041,233	317,843	2,392,944	482,744
Filing and regulatory fees	54,528	50,824	80,410	62,367
Insurance	42,140	25,342	61,435	32,374
Management fees	513,628	292,489	836,211	530,102
Marketing expenses	149,108	130,770	301,124	250,298
Office and sundry	65,625	18,910	156,041	59,862
Professional fees	207,648	162,104	320,481	265,120
Total expenses	(3,348,224)	(1,221,013)	(4,678,966)	(2,062,253)
OTHER ITEMS
Foreign exchange gain (loss)	17,416	(43,382)	(15,425)	(29,198)
Gain on derivative liability revaluation	1,598,863		4,671,138
Loss on settlement of promissory note			(452,492)
Interest expense	(9,691)	(72,509)	(74,919)	(104,056)
Interest income	16,413	4,906	59,958	7,765
NET LOSS	(1,725,223)	(1,331,998)	(490,706)	(2,187,742)
OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized foreign exchange gain (loss) on translation of foreign operations		6,006		(7,144)
COMPREHENSIVE LOSS	$ (1,725,223)	$ (1,325,992)	$ (490,706)	$ (2,194,886)
LOSS PER SHARE - BASIC (in dollars per share)	$ (0.02)	$ (0.02)	$ (0.01)	$ (0.03)
LOSS PER SHARE - DILUTED (in dollars per share)	$ (0.02)	$ (0.02)	$ (0.01)	$ (0.03)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (in shares)	88,781,968	64,706,656	88,669,449	64,688,439
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (in shares)	88,781,968	64,706,656	88,669,449	64,688,439

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows used in operating activities:
Net loss for the period			$ (490,706)	$ (2,187,742)
Adjustments for non-cash items:
Accretion expense	$ 2,137	$ 2,093	4,274	4,186
Depreciation expense			220,884	220,884
Share-based payments			345,172	194,636
Gain on derivative warrant liability revaluation	(1,598,863)		(4,671,138)
Loss on settlement of promissory note			452,492
Unrealized foreign exchange loss			60	3,205
Interest accrued on Promissory Note			74,919	103,467
Total adjustment for non-cash items			(4,064,043)	(1,661,364)
Changes in non-cash working capital
GST receivable			(19,951)	(17,891)
Prepaids and deposits			(40,500)	12,220
Accounts payable and accrued liabilities			614,331	24,340
Due to related parties			(180,305)	248,806
Net cash used in operating activities			(3,690,468)	(1,393,889)
Cash flows (used in) from investing activities:
Purchase of equipment			(382,731)
Mineral property claim expenditures			(18,162)
Net cash used in investing activities			(400,893)
Cash flows from (used in) financing activities:
Deferred share issue costs			(64,532)
Exercise of stock options			301,464	22,924
Exercise of warrants			138,332
Issuance of promissory note				1,179,983
Repayment of promissory note			(1,260,000)	(60,000)
Net cash provided by financing activities			(884,736)	1,142,907
Effect of exchange rate changes on cash				(7,144)
Net change in cash for the period			(4,976,097)	(258,126)
Cash and cash equivalents, beginning of period			9,054,203	849,572	$ 849,572
Cash and cash equivalents, end of period	$ 4,078,106	$ 591,446	4,078,106	591,446	$ 9,054,203
Non cash financing and investing activities
Revision in ARO estimate			(2,576)	(8,285)
Value of warrants issued with debt units				$ 534,473
Value of derivative warrant liability at exercise			38,115
Interest paid in cash			$ 120,000

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 4,078,106	$ 9,054,203
GST receivable	72,384	52,433
Prepaid and deposits	245,582	205,082
Deferred share issue costs	64,532
Total current assets	4,460,604	9,311,718
Non-Current Assets
Equipment	1,278,845	1,116,998
Mineral properties	6,311,496	6,295,910
TOTAL ASSETS	12,050,945	16,724,626
Current Liabilities
Accounts payable and accrued liabilities	1,048,795	314,463
Due to related parties	$ 1,162,667	$ 1,342,972
Other Liability, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Promissory note - current portion	$ 120,000	$ 120,000
Derivative warrant liabilities	1,648,269	6,357,552
Total current liabilities	3,979,731	8,134,987
Non-Current Liabilities
Asset retirement obligation	232,135	230,437
Promissory note	1,324,108	2,176,608
TOTAL LIABILITIES	5,535,974	10,542,032
STOCKHOLDERS' EQUITY
Capital stock Authorized: Unlimited common shares Issued and outstanding: 89,069,150 common shares at June 30, 2026 and 65,663,486 at December 31, 2025; No proportionate voting shares at June 30, 2026 and 224,801 at December 31, 2025
Additional paid-in capital	56,580,751	55,757,668
Cumulative translation adjustment	(209,788)	(209,788)
Deficit	(49,855,992)	(49,365,286)
TOTAL STOCKHOLDERS' EQUITY	6,514,971	6,182,594
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 12,050,945	$ 16,724,626