Wodski Property

Wodski Silver‑Gold‑Rich VMS Project: Greens Creek‑Style Discovery Opportunity in Southeast Alaska

Author: Roy Greig, PhD, P Geo. Independent of Alex Metals Inc.

Overview

The Wodski Project is the flagship silver-rich VMS asset in the Alex Metals portfolio and a compelling analogue to Hecla’s Greens Creek mine. Ten known VMS occurrences are distributed across the 6 km x 10 km island, highlighting the scale and continuity of the mineralized system.

Historical work includes a “geologic inventory” at the Lost Lake prospect of 553,800 tons grading 87.5 g/t Ag, 8.1% Zn and 0.6% Pb^{1 2}, as well as multiple high-grade intersections at Mad Dog prospect. A 2004 drill program discovered near-surface, high-grade Ag-Zn-Pb mineralization at the Mad Dog prospect, with the first hole intersecting:

• 5.4 m grading 437 g/t Ag 18.5% Zn, and 3.8% Pb,
• and 17.7 m grading 223 g/t Ag and 11.3% Zn and 1.0% Pb.

Despite these exceptional intercepts, the property has seen no follow-up drilling in more than 20 years and remains grossly underexplored. No gold grades were reported historically, though Alex Metal’s grab samples returned:

• 20.6% Zn, 1.7% Pb, 257 g/t Ag, 1.7 g/t Au
• 16.3% Zn, 1.7% Pb, 381 g/t Ag, 3.8 g/t Au
• 3.2% Zn, 3.0% Pb, 211 g/t Ag, 3.5 g/t Au

Alex Metals’ thesis is to define a +30 Mt, Greens Creek-style Ag-Au-Zn-Pb deposit by systematically expanding known mineralization and testing new targets generated from modern geophysics, geochemistry, and structural mapping.

43-101 Technical Report for the Wodski Project, Alaska. Date of Report: 9 April 2026. Author: Roy Greig, P Geo.
This ‘geologic inventory’ was prepared prior to the establishment of NI 43-101 guidelines and reporting standards, has not been independently verified, and the Author assumes that it does not comply with the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) Standards on Mineral Resources and Reserves Definitions and Guidelines. The historical ‘geologic inventory’ is reported here to provide historical context only and should not be relied upon as accurate or representative.

Location

Southeast Alaska

Ownership

100%

Project Stage

Advanced Exploration — historic drilling and multiple defined targets

Metals

Silver, Gold, Zinc, and Lead

Property Size

13.5 km² land package

Target

Greens Creek-style, silver-gold-rich volcanogenic massive sulfide (VMS) system

Geology

The Wodski Project is hosted by Late Triassic rocks of the Alexander Triassic Metallogenic Belt (ATMB), a 600 km-long volcano sedimentary, oceanic back-arc or intra-arc rift-related belt. This belt hosts numerous VMS prospects and several world-class deposits, including the ~300 Mt Cu-Co Windy Craggy deposit, the ~40 Mt Ag-Au-Zn-Pb Greens Creek deposit, and the ~17 Mt (combined) Cu-Zn Palmer and Zn-Ag AG deposits.

Wodski hosts widespread Ag-Au-Zn-Pb VMS mineralization along a prospective, fold-repeated VMS horizon traced for over 12 km across the property. Late Triassic rocks on the Wodski Project are dominantly mafic to intermediate pillowed to massive flows, pillow breccias, and volcaniclastic deposits interbedded with subordinate lenses of mafic to felsic tuff, limestone, chert, conglomerate, and argillite. These rocks are intruded by diorite, gabbro, and basaltic to dacitic dykes.

At several prospects, mineralization is hosted by altered tuffs and is spatially related to dacite or rhyolite units and minor argillite lenses, similar to the Palmer and AG deposits. At other prospects, mineralization occurs at or near the contact between mafic volcanic rocks and a thick sequence of graphitic argillite, similar to the Greens Creek deposit

Structural features related to three phases of deformation are observed on the Project: F1 isoclinal folds, pervasive S2 foliation and associated F2 closed folds, and local kinking and open F3 folds associated with faults. Host rocks are prehnite-pumpellyite to lower greenschist-facies metamorphic grade, and primary textures are typically preserved.