History
Alaska Silver went public in the US in October 2025, found a new high-grade silver zone at Illinois Creek, and by August 2026 was expanding its drilling.
2025: Going public and a new discovery
Alaska Silver Corp. owns the Illinois Creek project in western Alaska, through a subsidiary. In the record covered here, the company's story begins in October 2025 with a United States initial public offering of common shares, priced on October 1. The offering closed on October 3 at roughly $13.8 million.
On October 15 the company issued an update on its exploration projects. On November 3 it announced a new high-grade discovery zone at Illinois Creek, later known as Silver Sage.
2026: Results, a bigger resource and a drill program
On January 20, 2026 the company announced high-grade silver and zinc results in several holes from its limited 2025 drilling program. Two days later it released an updated mineral resource estimate for Illinois Creek. Indicated gold and silver ounces, the better-proven category, rose 11% and 7%. Inferred ounces, the less certain category, nearly doubled.
On March 12 the company announced a fully funded 6,000-meter drill program for the 2026 season. In May it simplified its share structure, eliminating the Proportionate Voting share class and relabeling Subordinate Voting shares as plain common shares.
On May 19 the board approved, subject to approval from the TSXV exchange and disinterested shareholders, converting deferred management fees owed from 2022 to 2025 into common shares. The fees were owed to CEO Christopher Marrs, VP Joan Marrs, VP Joe Piekenbrock and Piekenbrock's company Piek Exploration LLC. This settled insider debt in equity rather than cash.
Drilling began on June 4, targeting resource expansion and new discoveries. On June 11 the company named Aaron Schutt, a new board member, as incoming CEO effective October 1, 2026. Christopher Marrs was to move up to Executive Chairman.
On August 11 the company announced a C$7.6 million private placement to expand the 2026 program to 9,000 meters. The offering closed on August 17. At the end of the record, 89,069,150 shares were on issue, the CEO handover was still ahead, and the larger drill program was under way.
Written from the 13 story beats below (2025 to 17 Aug 2026), which come from the company's own announcements and filings.