# EDGAR Filing Document

**Accession Number:** 0001893899
**File Stem:** 0000000000-25-006122
**Filing Date:** 2025-6
**Character Count:** 16259
**Document Hash:** 282d7fb9160a1bdab200ebf1a9caaf54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-006122.hdr.sgml**: 20260312

**ACCESSION NUMBER**: 0000000000-25-006122

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250610

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alaska Silver Corp.
- **CENTRAL INDEX KEY:** 0001893899
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-08011

**BUSINESS ADDRESS:**
- **STREET 1:** 3573 E. SUNRISE DRIVE, SUITE 233
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85718
- **BUSINESS PHONE:** (520) 237-1475

**MAIL ADDRESS:**
- **STREET 1:** 3573 E. SUNRISE DRIVE, SUITE 233
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85718

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Western Alaska Minerals Corp.
- **DATE OF NAME CHANGE:** 20211115
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001104659-25-048612

## Text-Extract

```

                                                            June 10, 2025

Kit Marrs
Chief Executive Officer
Alaska Silver Corp.
3573 East Sunrise Dr. Suite 233
Tucson, AZ 85718

       Re: Alaska Silver Corp.
           Draft Registration Statement on Form S-1
           Submitted May 14, 2025
           CIK No. 0001893899
Dear Kit Marrs:

       We have reviewed your draft registration statement and have the
following comments.

       Please respond to this letter by providing the requested information and
either
submitting an amended draft registration statement or publicly filing your
registration
statement on EDGAR. If you do not believe a comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

      After reviewing the information you provide in response to this letter
and your
amended draft registration statement or filed registration statement, we may
have additional
comments.

Draft Registration Statement on Form S-1
Cover Page

1.     You provide that you have applied to list your common stock on the OTCQB
Venture
       Markets. This appears inconsistent with disclosure elsewhere regarding
proposed
       listing on OTCQX. Please revise or advise. Please also revise your
disclosure here and
       throughout the filing, including in the Risk Factors section, to discuss
whether you
       will be considered a penny stock under Rule 3a51-1 of the Securities
Exchange Act of
       1934 and the additional risks if you are deemed to be a penny stock. In
addition,
       revise to make clear that OTC Markets is a quotation medium for
subscribing
       members, not an issuer listing service, and that only market makers can
apply
       to quote securities. If your offering is contingent upon quotation on
the OTCQB
       Venture Markets, please make this clear on your cover.
 June 10, 2025
Page 2

2.     Please disclose on the cover page that you do not intend to apply for
listing of the
       Warrants on any national securities exchange or trading system, as
referenced on page
       7. Also, with respect to your disclosure that your subordinate voting
shares are
       currently quoted under the symbol    WAM    on the TSX Venture Exchange,
or
          TSXV,    please disclose the market price of your subordinate voting
shares as of the
       latest practicable date.
Prospectus Summary, page 1

3.     Please clearly disclose here and in your risk factor section that the
subordinate shares
       being registered in this offering are part of a dual-class voting
structure, in which
       holders of proportionate voting shares possess the voting equivalent of
100
       subordinate voting shares per every proportionate voting share held.
Describe the
       potential risks of additional dilution if the holders of proportionate
voting shares
       convert their shares into 100 subordinate voting shares per every
proportionate voting
       share held. Also provide a risk factor disclosing, if true, that future
issuances of
       proportionate voting shares may be dilutive to holders of subordinate
voting shares.
Implications of Being an Emerging Growth Company, page 3

4.     We note your disclosure that after you cease to qualify as an emerging
growth
       company, certain of the exemptions available to you as an emerging
growth company
       may continue to be available to you as a smaller reporting company.
Please revise to
       provide attendant risk factor disclosure.
Risks Related to our Business, page 11

5.     We note the discussion of the substantial doubt as to your ability to
continue as
       a going concern reflected in the report of your independent registered
public
       accountant. Please revise to provide attendant risk factor disclosure.
Risk Factors
Certain of the directors and officers of ours also serve as directors and/or
officers of other
companies..., page 28

6.     We note your disclosure that certain of your directors and officers also
serve as
       directors and/or officers of other companies involved in natural
resource exploration
       and development and consequently there exists the possibility for such
directors and
       officers to be in a position of conflict. Please expand your disclosure
to explain how
       you expect to resolve such conflicts.
Use of Proceeds, page 33

7.     We note your disclosure that the principal purposes of this offering are
to obtain
       additional capital to support your operations; that you intend to use
the net proceeds
       from this offering to fund mining and exploration activities; and that
you intend to use
       the remaining proceeds to fund working capital and general corporate
expenditures
       out of your existing cash reserves. Please clarify whether you intend to
use any of the
       proceeds from this offering to repay the $1,200,000 advance you received
from a
       small group of existing shareholders, or any amounts due under the Piek
Promissory
       Note. If so, provide all of the disclosure required by Item 504 of
Regulation S-K.
 June 10, 2025
Page 3

Management's Discussion and Analysis of Financial Condition and Results of
Operations
Our Business, page 37

8.     You state that you have no substantial revenue. However in other
sections of the
       filing, for example, on page 47 you state that you have no operating
revenue.
       Similarly, on page 24 you state that you have only generated modest
revenues. Please
       revise to accurately reflect your historical revenue generation or
explain the
       inconsistencies in your disclosure.
Governmental Approvals and Regulations, page 46

9.     We note your disclosure that mining operations and exploration
activities in the
       United States are subject to various federal, state and local laws and
regulations which
       govern prospecting, development, mining, production, exports, taxes,
labor standards,
       occupational health, waste disposal, protection of the environment, mine
safety,
       hazardous substances and other matters. Please expand your disclosure to
better
       describe these individual regulations to the extent they are material to
your business
       and operations. Refer to Item 101(h)(4)(viii) of Regulation S-K.
Business
Description of Business
Status of Development Efforts, page 47

10.    Please significantly expand your disclosure in this section to provide
anticipated
       timelines, milestones, and the current status of each of your projects.
Refer to Item
       101(h) of Regulation S-K.
Properties, page 48

11.    We note your disclosure on page 48 suggesting that you have other key
mineral
       resource projects in other jurisdictions within the United States.
Please expand your
       summary disclosure to include all of your mineral properties, including
a map
       showing the locations of all properties, pursuant to Item 1303(b) of
Regulation S-K.
12.    Please expand your description of the Illinois Creek Project to
summarize the work
       that you have completed on the property, consistent with Item 1304(b)(2)
of
       Regulation S-K.
13.    We note your disclosure on page 55, indicating that historical quality
       assurance/quality control (QA/QC) programs are lacking or poorly
documented. Item
       1305 requires a summary of the internal controls related to exploration
and mineral
       resource and reserve estimation efforts. Considering that you have
performed
       exploration work and have determined mineral resources, it appears the
disclosure on
       page 55 should be consistent with the quality assurance and quality
control disclosure
       on page 52. Please advise.
Management, page 56

14.    You provide on page 28 that certain of your officers and directors also
serve as
       directors and/or officers of other companies involved in natural
resource exploration
       and development. Please expand your disclosure in this section to detail
each title or
       position held, and the length of time the position has been held.
 June 10, 2025
Page 4

15.    Please revise your disclosure to describe the business experience during
the past five
       years for each director, executive officer, and named significant
employees, including
       the principal occupations and employment during the past five years. See
Item 401(e)
       of Regulation S-K.
Certain Relationships and Related Transactions, page 66

16.    You provide that, except for compensation arrangements for your
directors and
       executive officers, there have been no related party transactions in
your two most
       recently completed fiscal years. However, you provide on page 41 that,
subsequent to
       December 31, 2024, the Company was issued an advance of $1,200,000 from
a small
       group of existing shareholders to sustain general and administrative
costs until the
       Company is able to complete an equity financing in the spring of 2025.
Please provide
       supplemental discussion as to why this advance is not a related party
transaction, or, if
       it is, please provide the disclosure required under Item 404 of
Regulation S-K.
Description of Securities, page 69

17.    Please revise to include risk factor disclosure regarding any potential
material dilutive
       effect(s) of the outstanding Warrants and Finder Warrants.
Note 1. Nature and Continuance of Operations, page F-9

18.    You refer to the company as Western Alaska Minerals Corp. or    WAM
in the
       financial statements which is not consistent with your recent name
change to Alaska
       Silver Corp and the disclosure on page 2 and elsewhere in the filing.
Please explain or
       revise. Also, please define    WACG    where it is first used on page
37.
Note 2. Basis of Presentation and Material Accounting Policies
Loss Per Share, page F-12

19.    You state that the Proportional Voting Shares have voting and economic
rights on an
       as-converted basis and are, in effect, Subordinate Voting Shares
compressed at the
       ratio of 100:1. You also state that diluted loss per share is calculated
by the treasury
       stock method. Please respond to the following:
           Tell us your consideration of ASC 260-10-45-59A through 45-70 in
identifying
           participating securities and the use of the two-class method. Also,
please consider
           revising your accounting policy to address this matter accordingly.
           In a separate footnote, provide the disclosures required by ASC
260-10-50-1
           through 2 that support your calculation of loss per share.
Note 6. Related Party Transactions, page F-15

20.    You state that as at December 31, 2024, $722,989 (2023     $523,757) is
included in
       accounts payable and accrued liabilities. However, we note these amounts
are
       separately presented in the balance sheet as due to related parties.
Please revise
       to provide a description of these related party transactions and other
related
       disclosures to comply with ASC paragraphs 850-10-50-1 through 50-4.
Additionally,
       we note that under the section    Certain Relationships and Related
Transactions    at
       page 66, you state that except for compensation arrangements there have
been no
 June 10, 2025
Page 5

       related party transactions in your two most recently completed financial
years. Please
       revise this section to provide information that is consistent with your
financial
       statement disclosures.
Note 11. Segmented Information, page F-22

21.    We note you operate within a single reportable segment. Please provide
the
       disclosures required by ASC 280-10-50-20 as amended by ASU 2023-07. Also
refer
       to paragraphs 280-10-55-15D through 55-15F.
Exhibits

22.    We note your disclosure at page 63 that you have in place an executive
employment
       agreement with 1397257 BC Ltd., a company controlled by Darren Morgans,
your
       Chief Financial Officer. However, we do not observe an entry in your
exhibit index
       for such agreement. Please revise or advise.
23.    We note that your technical report summary includes resource estimates
for the
       Illinois Creek deposit, the leach pad area at Illinois Creek, and the
Waterpump Creek
       deposit. However your registration statement only includes a resource
estimate for the
       Illinois Creek deposit. Please advise.
24.    Please obtain and file the written consent of the qualified person(s)
with respect to
       your technical report summary as required by Item 1302(b)(4) of
Regulation S-K.
25.    Please revise your registration statement to state whether each
qualified person who
       prepared the technical report summary is an employee of the company and,
if not,
       name the qualified person's employer and disclose whether the qualified
person is
       affiliated with the company, as required by Item 1302(b)(5) of
Regulation S-K.
General

26.    Your prospectus cover page states that you will be offering subordinate
voting
       shares together with warrants to purchase subordinate voting shares. If
the subordinate
       voting shares and warrants will only be offered together, then you must
register units
       in your offering, even if the subordinate voting shares and warrants are
immediately
       separable following this offering. Please revise your cover page to
identify the units as
       securities in this offering, and to identify the components of the
units. The pricing
       table should reflect the common stock and warrants priced as a unit with
a footnote
       indicating the values assigned to each of the securities. Revise your
entire disclosure
       to reflect that you are selling units. Alternatively, please explain why
units do not
       need to be registered in this offering. For guidance, please refer to
Questions 240.05
       and 240.06 of our Compliance and Disclosure Interpretations, Securities
Act Rules.
27.    Please supplementally provide us with copies of all written
communications, as
       defined in Rule 405 under the Securities Act, that you, or anyone
authorized to do so
       on your behalf, present to potential investors in reliance on Section
5(d) of the
       Securities Act, whether or not they retain copies of the communications.
 June 10, 2025
Page 6

        Please contact Ranjit Singh Pawar at 202-551-2702 or Craig Arakawa at
202-551-
3650 if you have questions regarding comments on the financial statements and
related
matters. For any questions relating to engineering comments, you may contact
John Coleman
at 202-551-3610. Please contact Michael Purcell at 202-551-5351 or Liz
Packebusch at 202-
551-8749 with any other questions.

                                                         Sincerely,

                                                         Division of
Corporation Finance
                                                         Office of Energy &
Transportation
cc:   Daniel M. Miller

```

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