Alaska Silver Corp. has announced a leadership transition effective October 1, 2026. Aaron Schutt, who was appointed to the company's board of directors in May 2026, will succeed Christopher (Kit) Marrs as President and Chief Executive Officer. Mr. Marrs, a co-founder of the company, will remain as Executive Chairman of the board of directors to provide continuity and technical advice.
Aaron Schutt brings extensive leadership experience to the role, having served as President and CEO of Doyon Limited until June 2026. During his tenure at Doyon, he oversaw operations with over $500 million in revenue. Prior to joining Alaska Silver, Mr. Schutt was an Alaska Native and led the company in pursuing responsible natural resource development.
Christopher Marrs has served the company for over 50 years, including 17 years with Alaska Silver and its predecessor companies. He guided the company through its formative years, including its listing on the TSX Venture Exchange in 2021 and the OTCQX market in 2025. The company noted that Mr. Schutt has the skills necessary to advance the Illinois Creek District into development.
In addition to the leadership change, the company disclosed equity issuances made on September 30, 2026. The company granted an aggregate of 109,770 restricted stock units (RSUs) and 525,000 stock options to directors and officers. The RSUs vest one year from the grant date, and each stock option is exercisable at C$0.68 per share for a term of five years.
The company also reported the issuance of 1,509,710 common shares to settle outstanding management fee debt. This settlement, valued at $0.82 per share, relates to deferred compensation for Executive Chairman Christopher Marrs, Vice President of Administration Joan Marrs, and Chief Exploration Officer Joe Piekenbrock. The company stated that issuing shares to settle the debt preserves cash resources for ongoing operations.
