MINERAL PROPERTIES

3 Months Ended

Mar. 31, 2026

4.MINERAL PROPERTIES


	Round Top	Honker	Illinois Creek	Others	Total
	($)	($)	($)	($)	($)
Total Costs:
Balance at December 31, 2024	552,179	116,263	5,409,207	12,721	6,090,370
Additions (recovery)	86,600	19,800	89,705	13,330	209,435
ARO change in estimates	(7)	(92)	(3,796)	—	(3,895)
Balance at December 31, 2025	638,772	135,971	5,495,116	26,051	6,295,910
Additions	—	—	12,786	—	12,786
ARO change in estimates	(6)	(82)	(3,374)	—	(3,462)
Balance at March 31, 2026	638,766	135,889	5,504,528	26,051	6,305,234

Round Top Property, Alaska

The Round Top Property consists of 88 state mineral claims, owned 100% by ASUSA, located in the Mount McKinley and Nulato mining districts of Alaska.

Honker Property Alaska

The Honker Property consists of 24 state mineral claims, owned 100% by ASUSA, located in the Mount McKinley mining district of Alaska.

Illinois Creek Mine Project, Alaska

ASUSA acquired a 100% interest in the Illinois Creek Mine Project in fiscal 2021 through the issuance of 120 ASUSA common shares (valued at $540,000) and $3,698,000 payable by the issuance of a promissory note (note 8). As part of the acquisition in fiscal 2021, the Company also terminated a joint venture agreement on the project dating back to fiscal 2018 and reclassified share consideration under the operating agreement of which consisted of 346 common shares (valued at $692,000).

The Illinois Creek Mine Project is comprised of various state mineral claims located in Alaska.

Other Exploration Target Projects, Alaska

Paw Print Property

The Paw Print Property consists of 18 state mineral claims, owned 100% by ASUSA, located in the Mount McKinley and Nulato mining districts of Alaska.

Khotol Property

The Khotol Property consists of 16 state mineral claims, owned 100% by ASUSA, located in the Mount McKinley and Nulato mining districts of Alaska.

The Company staked the claims of both Paw Print and Khotol properties for a total of $6,368 and $6,353 in 2022 and 2023 respectively.

Alaska Silver Corp. 10-Q