Form 8-K

8-K — Alaska Silver Corp.

Accession: 0001062993-26-003160

Filed: 2026-06-11

Period: 2026-06-10

CIK: 0001893899

SIC: 1040 (GOLD & SILVER ORES)

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — form8k.htm (Primary)

EX-10.1 — EXHIBIT 10.1 (exhibit10-1.htm)

EX-99.1 — EXHIBIT 99.1 (exhibit99-1.htm)

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Alaska Silver Corp.: Form 8-K - Filed by newsfilecorp.com

false

2026-06-10

0001893899

Alaska Silver Corp.

0001893899

2026-06-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

June 10, 2026

ALASKA SILVER CORP.

(Exact name of registrant as specified in its charter)

British Columbia

333-290204

87-4818470

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

1500-1111 West Hastings St,

Vancouver, British Columbia, Canada

V6E 2J3

(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (520) 200-1667

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 10, 2026, Alaska Silver Corp. (the "Company") entered into an Executive Employment Agreement ("Employment Agreement") with Aaron Schutt, whereby Mr. Schutt was appointed Chief Executive Officer of the Company effective October 1, 2026.

On June 11, 2026, the Board of Directors (the "Board") of the Company announced Christopher Marrs would cease serving as President and Chief Executive Officer of the Company as of October 1, 2026. Mr. Marrs has been appointed Executive Chairman of the Board effective immediately and will continue in that role

following the October 2026 transition.

Mr. Schutt was appointed to the Board in May 2026 and brings extensive leadership experience in Alaska-based business enterprises. A native Alaskan, Mr. Schutt was President and Chief Executive Officer of Doyon Limited from until his retirement on June 1, 2026. In his role as Chief Executive Officer and President, Mr. Schutt was responsible for the overall direction of the Doyon Family of Companies with over $500 million of revenue. During his 20 years with Doyon, Mr. Schutt led the company in its pursuit of responsible natural resource development, arctic-focused businesses, and utilities development serving US military bases in Alaska, along with many traditional uses of the lands. Prior to being named Doyon President and Chief Executive Officer, Mr. Schutt served as Doyon's Senior Vice President and Chief Operating Officer from 2008 to 2011. Mr. Schutt continues to serve in a consulting capacity with Doyon Limited until May 2027. He also serves on the board of directors for Northrim BanCorp, Inc. (NASDAQ: NRIM), Akeela, Inc., Keep Alaska Competitive, the University of Alaska Fairbanks Board of Advisors (through 2027), and Doyon Utilities (through May 2027). Mr. Schutt also co-owns Nahtsiith, LLC (dba Anchorage Wolverines), which compete in the North American Hockey League, of which Mr. Schutt serves as a member on the board of governors. Mr. Schutt earned his Bachelor of Science in civil engineering from Washington State University, Master of science in civil engineering from Stanford University, and Juris Doctor from Stanford Law School.

The Employment Agreement, effective October 1, 2026, provides for a base salary of $300,000, with annual increases, if any, as determined by the Company's Compensation Committee's annual review of executive salaries. Mr. Schutt is entitled to an annual bonus of up to 70% of his base salary under the Company's short-term incentive plan ("STIP") and is eligible to participate in any long-term incentive plans ("LTIP") established by the Company. He will also receive 10% of his base salary in lieu of employer-provided benefits. In connection with his appointment, Mr. Schutt will receive 500,000 stock options for shares of common stock of the Company. Pursuant to the Employment Agreement, the Company may terminate the Employment Agreement at any time with or without cause. If the Company terminates the Employment Agreement without cause or if Mr. Schutt resigns under certain allowable circumstances, Mr. Schutt is entitled to (i) a severance payment in an amount equal to (a) the base salary then in effect plus (b) the amount of STIP earned in the prior fiscal year; (ii) any base salary and vacation earned and payable up to the termination date; and (iii) any unvested LTIP awards which will vest immediately. If the Company terminates the Employment Agreement for cause or if Mr. Schutt resigns without good reason, Mr. Schutt entitled to any base salary and vacation earned and payable up to the termination date. If, within 12 months of a Change of Control (as defined in the Employment Agreement), the Company terminates the Employment Agreement without cause or if Mr. Schutt resigns under certain allowable circumstances, Mr. Schutt is entitled to (i) a severance payment in an amount equal to (a) the base salary then in effect, plus (b) one (1) multiplied by the base salary, plus (c) one (1) multiplied by the target STIP for the then current fiscal year; (ii) any base salary and vacation earned and payable up to the termination date; (iii) any declared but unpaid STIP payments; and (iv) any unvested LTIP awards which will vest immediately.

There are no family relationships between Mr. Schutt and any of our directors or executive officers. Except as set forth herein, there is no arrangement or understanding between Mr. Schutt and any other persons pursuant to which Mr. Schutt was appointed Chief Executive Officer of the Company. There are no related party transactions involving Mr. Schutt that are reportable under Item 404(a) of Regulation S-K.

Mr. Schutt's Employment Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On June 11, 2026, the Company issued a press release entitled "Alaska Silver Announces Appointment of Aaron Schutt as CEO and Planned Retirement of Kit Marrs" A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated by reference into this Item 7.01.

The information set forth in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as shall be expressly set forth by specific reference in such a filing. This Current Report on Form 8-K (the "Report") will not be deemed an admission as to the materiality of any information in this Report that is required to be disclosed solely by Regulation FD.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press release entitled "Alaska Silver Announces Appointment of Aaron Schutt as CEO and Planned Retirement of Kit Marrs" dated June 11, 2026

10.1**†

Executive Employment Agreement, effective October 1, 2026 by and between the Company and Aaron Schutt

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

** Management contract or compensatory plan or arrangement.

† Certain identified information has been excluded from the exhibit pursuant to Regulation S-K Item 601(b)(10)(iv) because it is both (i) not material and (ii) is the type that the Company customarily treats as private or confidential.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 11, 2026

ALASKA SILVER CORP.

By: /s/ Darren Morgans

Darren Morgans

Chief Financial Officer

EX-10.1 — EXHIBIT 10.1

EX-10.1

Filename: exhibit10-1.htm · Sequence: 2

Alaska Silver Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

THE PARTIES, BY THEIR SIGNATURES BELOW, HEREBY REPRESENT THAT THEY HAVE READ AND UNDERSTAND THE CONTENTS OF THIS AGREEMENT, THAT NO REPRESENTATIONS OTHER THAN THOSE CONTAINED HEREIN HAVE BEEN MADE TO THEM TO INDUCE OR INFLUENCE THEIR EXECUTION OF THIS AGREEMENT, AND THAT THEY EXECUTE THIS AGREEMENT KNOWINGLY AND VOLUNTARILY.

ALASKA SILVER

Per: /s/ David Smallhouse

David Smallhouse

Board of Director

Date: June 10, 2026

/s/ Aaron Schutt

Witness

Aaron Schutt

Date: May 21, 2026

Date: May 29, 2026

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: exhibit99-1.htm · Sequence: 3

Alaska Silver Corp.: Exhibit 99.1 - Filed by newsfilecorp.com

NEWS RELEASE

ALASKA SILVER ANNOUNCES APPOINTMENT OF AARON SCHUTT AS CEO AND PLANNED

RETIREMENT OF KIT MARRS

TUCSON, ARIZONA, US - June 11, 2026 - Alaska Silver Corp. (the "Company" or "Alaska Silver" (TSXV: "WAM", OTCQX: "WAMFF") is pleased to announce that Aaron Schutt has accepted the Company's offer to serve as Chief Executive Officer of the Company, effective October 1, 2026. Mr. Schutt succeeds Mr. Christopher (Kit) Marrs, co-founder of the Company, who will resign as President and Chief Executive Officer effective as of October 1, 2026. Mr. Marrs has been appointed Executive Chairman of the Company's board of directors effective immediately and will continue in that role following this transition to maintain continuity and providing technical advice.

Mr. Schutt was appointed to the Company's board of directors in May 2026 and brings extensive leadership experience in Alaska-based business enterprises. A native Alaskan, Mr. Schutt was President and CEO of Doyon Limited until his retirement on June 1, 2026. In his role as CEO and President, Mr. Schutt was responsible for the overall direction of the Doyon Family of Companies with +$500 million of revenue. During his 20 years with Doyon, Mr. Schutt led the company in its pursuit of responsible natural resource development, arctic-focused businesses, and utilities development serving US military bases in Alaska, along with many traditional uses of the lands.

Prior to being named Doyon President and CEO, Mr. Schutt served as Doyon's Senior Vice President and Chief Operating Officer from 2008 to 2011. He has a bachelor's of science in civil engineering from Washington State University. Mr. Schutt went on to receive a master's of science in civil engineering from Stanford University, followed by his juris doctorate from Stanford Law School.

Aaron Schutt stated: "Since joining the Board of Directors last month, I have become increasingly excited about the opportunities ahead for the Company. As I prepare to assume the role of Chief Executive Officer in October, I look forward to helping lead the Company's next chapter of growth. This role is particularly meaningful to me given my longstanding ties to Interior Alaska and my belief in its tremendous potential. I will work closely with our Board, management team, technical experts, and local stakeholders to advance the Company's objectives and create long-term value for shareholders."

Mr. Kit Marrs commented: "I am excited that Aaron is taking over leadership of the Alaska Silver team. His extensive background and connections in Alaska fill an important role for our company. His depth of leadership, engineering background and success in building businesses in Alaska will help accelerate our company as it moves into the next phase of resource expansion and pre-development. Under his leadership, I foresee the Illinois Creek District evolving into an anchor of successful resource development in western Alaska."

Kit Marrs first worked at Illinois Creek in the 1980's for Anaconda Copper Co. and later co-founded Western Alaska Copper & Gold Co. with his wife Joan in 2010. Kit's retirement marks the culmination of over fifty years of working in mineral exploration and includes seventeen years of dedicated service to Alaska Silver and its predecessor companies. He has served as its President and Chief Executive Officer since inception, guiding Alaska Silver through its formative years as a private company, including its listing on the TSX Venture Exchange in 2021 and on the OTCQX market in 2025. He has been integral in the advancement of the Company's flagship Illinois Creek Project in western Alaska.

"It has been a privilege to have had a hand in the evolution of the Illinois Creek District over the last forty-six years. Starting as the project geologist with Anaconda in the 1980's with drilling at Illinois Creek and Round Top, and building the first camp and airstrip, this project is part of my heart and soul. I believe in its success." added Kit Marrs. "But the true success of this project is due to the hard work and skill of many exploration geologists such as Nate Brewer (current Alaska Silver Director), Dave Heatwole (former Alaska District Geologist for Anaconda) and Joe Piekenbrock (current Alaska Silver Chief Exploration Officer). I am very comfortable handing over leadership of the technical duties to our Principal Geologist, Sage Langston-Stewart and operations to our logistical team."

Nate Brewer, Independent Director remarked: "The Board would like to thank Kit for his years of leadership and commitment to Alaska Silver and we are happy to have him remain on the Board as Executive Chairman. During his tenure, the company has transformed the Illinois Creek project into a district-scale mineralized system with tremendous upside potential for silver-rich carbonate replacement deposits. The Board is delighted to welcome Aaron to the role of CEO as the Company moves forward into its next phase of discovery and growth. Aaron's executive experience at Doyon, his engineering background, as well as his native Alaskan heritage will position Alaska Silver a unique player in responsible mineral exploration and future development in the State."

About Alaska Silver

Alaska Silver is a junior exploration company focused on the discovery and development of high-grade silver, gold and critical metals assets within one of North America's major high-grade silver and critical minerals districts at their Illinois Creek (IC) Project in western Alaska. Illinois Creek is a contiguous, 100%-owned land package totaling 80,895 acres (126.4 square miles or 32,337 hectares) anchored by two resource-level mineralization zones separated by 8 km of high potential exploration ground. At one end lies the high-grade silver mineralization at the Waterpump Creek zone, which hosts an Inferred Mineral Resource of 75 Moz AgEq at a grade of 279 g/t silver, 11.28 % zinc and 9.87% lead1,2, that remains open to the north and south, as well as by the Illinois Creek mine. At the western end is the historical past-producing Illinois Creek Mine that closed due to low metal prices leaving untouched Indicated Mineral Resources of 260,000 oz gold at 0.92 g/t Au and 8.3 Moz silver at 29.72 g/t Ag, along with Inferred Mineral Resources of 290,000 oz gold at 0.84 g/t Au and 10.4 Moz silver at 30.11 g/t Ag2,3. The IC Project is located approximately 38 kilometers from the Yukon River, the region's primary marine transportation corridor. Headquartered in Alaska and Arizona, Alaska Silver is led by a team with a proven track record of large-scale mine discoveries.

___________________________________

1 For Waterpump Creek, the formulas for AgEq are AgEq (g/t)= Ag (g/t) + 28.56 x Pb(%) + 37.12 x Zn(%) and assume metal prices of US$24/oz Ag, US$1.30/lb Zn, and US$ 1.00/lb Pb.

2 Please refer to the NI 43-101 Technical Report titled "Illinois Creek Project, Western Alaska, USA" dated February 25, 2026 (effective date of January 22, 2026).

3 For Illinois Creek, AuEq values are based only on gold and silver values using metal prices of US$3,500/oz Au and US$45/oz Ag.

Qualified Person

Patrick Donnelly P.Geo, Executive Vice President of Alaska Silver, a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.

"Kit Marrs"

Kit Marrs

President & CEO

Patrick Donnelly

Executive Vice President

pat@alaskasilver.com

Phone: (520) 200-1667

Or visit our website at: www.alaskasilver.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. This forward looking information relates to, among other things, ongoing and anticipated exploration work at the Illinois Creek Project; the Company's belief that the Illinois Creek Project will evolve into an anchor of successful resource development in western Alaska; and the implementation of the objectives, goals and future plans of the Company, including the proposed advancement of the Illinois Creek Project as currently contemplated.

Such forward-looking information is based on numerous assumptions, including among others, that exploration work at the Illinois Creek Project will occur as anticipated; assay results will be received when anticipated; the Company will be able to implement its objectives, goals and future plans; exploration activities (including drill results) will accurately predict mineralization; the Company will be able to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the targeting activities proposed by the Company will be effective; and the Company's approach to exploration will result in the expected benefits. Although the assumptions made by the Company in providing forward-looking information is considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such information.

Important factors that could cause actual results to differ materially from the Company's plans or expectations include: the risk that exploration work at the Illinois Creek Project will not occur as anticipated; the risk that assay results will not be received when anticipated; the risk that the Company will not be able to implement its objectives, goals and future plans, including the proposed advancement of the Illinois Creek Project as currently contemplated; the risk that exploration activities (including drill results) will not accurately predict mineralization; the risk that Company will not be able to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the risk that the targeting activities proposed by the Company will not be effective; the risk that the Company's approach to exploration will not result in the expected benefits; risks related to market conditions and metal prices; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. Any forward-looking information contained in this news release is expressly qualified in their entirety by this cautionary statement. We seek safe harbor.

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Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 7A

-Section B

-Subsection 2

+ Details

Name:

dei_EntityExTransitionPeriod

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

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Balance Type:

Period Type:

duration