NorthWest Announces Target Model at Kwanika with Higher-Grade Zones Over Significant Thicknesses to Support New Strategic Approach

NorthWest Copper Corp.

Thu, Apr 10, 2025, 4:00 AM 25 min read

VANCOUVER, British Columbia, April 10, 2025 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or the “Company”) (TSX-V: NWST) announces a new higher grade target model for Kwanika, which represents the first step in advancing on one of the Company’s strategic initiatives to enhance the value of the existing PEA¹ on its 100% owned Kwanika-Stardust project through a staged development approach.

A new three-dimensional (3D) target model, available here (Kwanika Higher-Grade 3D Target Model), has been developed to improve the understanding of the geometry and continuity of higher-grade zones within the current Mineral Resource at Kwanika. The higher-grade zones are based on an inflection in the gold assay distribution, indicative of a higher-grade sub-population above 1.0g/t. Visual inspection of higher-grade values shows them to be continuous and correlate with 3D zones that define the new target model. Gold values were used as the primary basis for correlations, as it is believed gold is less susceptible to re-mobilization and as such a better indicator of primary mineralizing pathways than copper. The resulting target zones generally form two wide parallel zones that take various turns as they migrate 30 degrees up-plunge from west to east, potentially enhancing previous models.

The 3D target model zones support a target size range between 15 to 30 million tonnes of higher-grade mineralized material mostly from two broad parallel zones with a combined mineralized true width ranging between 30m and 45m at higher grades between 1.5% and 2.5% CuEq².

CEO Paul Olmsted stated, “The creation of the target model is a significant step in moving forward on our strategy to focus on higher-grade zones at Kwanika. The target model will provide a base for executing on our planned phased approach with the initial phase focusing on a higher-grade, lower capital cost development project. This is in line with our objective to enhance the value of the current PEA.”

The higher-grade target zones are grouped into three areas based on zone orientations, summarized as follows:

The Western area has two key parallel zones trending east-west, dipping 47 degrees north, with drill intercept grades between 1.7% and 1.8% CuEq, and true widths estimated between 20m and 24m each (Au_HG_1, Au_HG_2).
The Central area has two key parallel zones trending north-south, dipping 55 degrees east, with drill intercept grades between 2.2% and 2.5% CuEq, and true widths estimated between 10m and 14m each (Zones Au_HG_4, Au_HG_6).
The PEA pit area has two key sub-parallel zones trending east-west, variably dipping between 49 and 66 degrees, with drill intercept grades between 1.7% and 2.4% CuEq, and true widths estimated between 11m and 29m each (Au_HG_5, Au_HG_10). In addition, a low-grade zone is interpreted to potentially support open pit mining in this area (Au_LG_8).

Regardless of area, the two parallel higher-grade target zones are separated by up to 20m of unmineralized dykes. Other smaller target zones are also beginning to be identified that require more drilling to define (Au_HG_3, Cu_HG_7, Cu_HG_9).

Drill holes at Kwanika have multiple orientations that complicate the interpretation and reporting of historical results. To help, the Company has created a 3D model available via Seequent Central’s Open Scene with the goal of assisting stakeholders to understand historical drilling in the context of the new target model. The target model was interpreted into distinct higher-grade zones based on position and orientation of mineralization from historical drill holes. Using the current mineral resource drill hole database, the drill holes were intersected with the target model and screened for the more representative, higher-angle intercepts reported in Table 1, representing 52 of a total of 90 drill holes intersecting the target model. The selected drill hole locations are shown in Figure 1 with collar details provided in Table 2.

The higher-grade target model also helps to assess potential next steps. Additional infill and step-out drilling is required to confirm, extend, and enhance the confidence of the higher-grade target zones and planning is underway to define a phased drill program, to achieve a regular 50m drill spacing across some target zones in addition to testing targets beyond the model extents.

VP Business Development and Exploration Geoff Chinn, P. Geo., stated, “The higher-grade targets identified within the current Kwanika mineralization allows the Company to assess opportunities to extend and better define the zones in leading to potential alternative mining methods and an updated PEA. The two broad parallel zones identified represent a combined mineralized true width ranging between 30m and 45m at higher grades between 1.5% and 2.5% CuEq that provide an interesting basis for alternative potential bulk mining methods than the block cave envisioned in the current PEA. In addition, considering the grade-recovery relationship developed during the metallurgical test work used in the current PEA, the potential for enhanced recoveries by flotation alone looks promising for both copper and gold.”

The Company will provide additional updates on its progress in advancing the plan for the coming year.

The target model was developed by Geoff Chinn P.Geo. and checked by comparing the zones to logged geology, reviewing plans and cross-sections, and reviewing core photos. In addition, the target model was peer-reviewed by James Lang Ph.D, P.Geo..

Executive Changes

The Company also announces that Sapan Bedi will be appointed as the Interim CFO and Corporate Secretary of the Company upon the departure of Lauren McDougall, the current CFO and Corporate Secretary, effective on or about April 25, 2025.

The Company would like to welcome Mr. Bedi to the NorthWest team. Mr. Bedi is a seasoned finance professional with over twenty years experience in the mining industry bringing deep expertise across a broad range of financial disciplines supporting exploration, development and large-scale operations. He is a CPA (Colorado, USA) and a CA (India) and has held senior finance roles at Li-Cycle Holdings Corp, IAMGOLD Corporation and Inmet Mining Corporation.

Ms. McDougall will assist the Company to ensure a successful transition of responsibilities prior to her departure. The Company would like to thank Ms. McDougall for her commitment and leadership over the past 4 years and wish her well in her new career opportunity and future endeavours.

Technical aspects of this news release have been reviewed, verified, and approved by Geoff Chinn, P.Geo., VP Business Development and Exploration for NorthWest, who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Minerals Projects.

Figure 1. Kwanika Central - Select high-angle intercept drill holes locations.

Table 1. Select high-angle historical drill hole intercepts of the target model

West Area
Zone	Hole³	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq⁴^,⁵	Est. True Width⁶
1_Au_HG	K-07-30	376	390	14	0.51	0.96	1.82	1.25	11
1_Au_HG	K-07-51	302	398	96	1.08	0.97	2.47	1.85	67
1_Au_HG	K-07-52	376	398	22	0.42	0.71	1.56	0.98	15
1_Au_HG	K-07-53	276	316	40	0.99	0.92	2.17	1.71	28
1_Au_HG	K-07-54	512	528	16	0.13	2.03	0.73	1.68	11
1_Au_HG	K-07-55	330	394	64	1.12	1.90	3.66	2.59	47
1_Au_HG	K-08-107	422	430	8	0.84	0.25	1.29	1.05	6
1_Au_HG	K-08-113	322	386	64	0.60	1.97	1.63	2.10	52
1_Au_HG	K-08-58	428	472	44	0.72	1.36	2.34	1.77	31
1_Au_HG	K-08-60	406	422	16	1.41	1.75	3.61	2.77	11
1_Au_HG	K-08-63	472	500	28	0.55	1.51	1.93	1.71	19
1_Au_HG	K-08-78	482	520	38	0.84	1.13	1.72	1.71	26
1_Au_HG	K-08-86	536	544	8	0.32	1.30	0.83	1.32	6
1_Au_HG	K-08-90	494	526	32	0.58	0.92	1.62	1.29	23
1_Au_HG	K-08-91	520	546	26	0.49	0.97	1.17	1.23	18
1_Au_HG	K-08-93	422	470	48	0.76	1.17	1.76	1.66	33
1_Au_HG	K-08-96	442	470	28	1.26	1.46	3.25	2.40	19
1_Au_HG	K-18-180	326	338	12	0.67	2.29	2.32	2.43	11
1_Au_HG	K-18-180	344	372	28	0.30	1.13	0.89	1.17	26
1_Au_HG	K-18-182	352	392	40	0.45	0.53	1.89	0.88	34
			Average	34	0.77	1.27	2.11	1.76	24
West Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
2_Au_HG	K-07-51	422	458	36	0.33	0.58	1.09	0.78	24
2_Au_HG	K-07-52	458	474	16	1.01	1.07	2.79	1.85	11
2_Au_HG	K-07-53	338	398	60	0.83	0.86	2.81	1.51	40
2_Au_HG	K-07-54	566	584	18	0.33	1.00	1.30	1.10	12
2_Au_HG	K-07-55	408	444	36	0.65	0.72	1.84	1.21	25
2_Au_HG	K-08-107	442	464	22	0.97	0.34	2.55	1.25	15
2_Au_HG	K-08-113	400	456	56	0.94	2.31	2.34	2.72	44
2_Au_HG	K-08-58	480	498	18	0.19	0.65	0.94	0.69	12
2_Au_HG	K-08-59	350	364	14	2.01	1.79	5.02	3.41	11
2_Au_HG	K-08-60	426	440	14	0.63	0.63	2.06	1.13	9
2_Au_HG	K-08-63	510	520	10	0.33	1.04	1.05	1.13	7
2_Au_HG	K-08-78	602	612	10	0.39	1.14	0.89	1.27	7
2_Au_HG	K-08-86	634	654	20	0.42	1.33	1.16	1.44	13
2_Au_HG	K-08-91	698	712	14	0.39	1.01	1.82	1.17	9
2_Au_HG	K-08-93	474	510	36	1.10	1.26	3.48	2.08	24
2_Au_HG	K-08-96	476	506	30	1.10	1.17	2.66	2.01	20
2_Au_HG	K-08-97	434	450	16	1.87	0.88	3.93	2.58	11
2_Au_HG	K-18-180	372	424	52	1.10	2.16	3.07	2.77	47
2_Au_HG	K-18-182	416	478	62	0.44	0.82	1.60	1.08	52
			Average	28	0.79	1.18	2.30	1.71	21
West Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
3_Au_HG	K-07-53	414	426	12	0.78	0.62	3.23	1.28	7
3_Au_HG	K-08-107	500	510	10	0.81	1.46	2.65	1.94	6
3_Au_HG	K-08-113	522	528	6	0.57	1.17	3.03	1.49	4
3_Au_HG	K-08-96	554	576	22	1.32	1.06	2.88	2.15	12
3_Au_HG	K-08-97	460	468	8	0.98	1.00	2.73	1.77	4
3_Au_HG	K-18-180	452	458	6	0.81	1.38	4.06	1.90	5
			Average	11	0.98	1.07	3.02	1.82	9
Central Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
4_Au_HG	K-07-29	240	272	32	0.68	2.97	1.72	2.95	30
4_Au_HG	K-07-32	207	212	6	0.07	0.14	0.20	0.17	5
4_Au_HG	K-07-46	348	356	8	0.59	0.91	2.76	1.32	7
4_Au_HG	K-08-62	272	284	12	2.68	1.11	4.79	3.56	11
4_Au_HG	K-08-65	294	304	10	1.44	0.21	1.54	1.61	9
4_Au_HG	K-20-198	330	340	10	1.38	1.19	6.84	2.35	9
4_Au_HG	K-22-255	298	320	22	0.94	0.26	2.47	1.17	19
			Average	14	1.08	1.37	2.75	2.15	12
Central Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
6_Au_HG	K-07-29	274	288	14	1.01	1.85	2.78	2.44	13
6_Au_HG	K-07-46	364	396	32	0.37	0.89	1.17	1.06	30
6_Au_HG	K-08-62	286	314	28	2.87	1.69	4.30	4.19	26
6_Au_HG	K-20-198	344	353	9	1.13	3.35	3.48	3.70	8
6_Au_HG	K-20-198	355	368	13	0.76	0.90	2.82	1.47	12
			Average	19	1.32	1.49	2.76	2.48	16
Central Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
7_Cu_HG	K-08-62	242	256	14	0.98	0.50	2.91	1.39	11
7_Cu_HG	K-08-65	282	294	12	0.82	0.11	1.28	0.92	9
7_Cu_HG	K-20-198	310	316	6	1.04	0.50	3.19	1.44	5
			Average	11	0.93	0.35	2.35	1.22	10
Central Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
9_Cu_HG	K-08-62	130	156	26	1.12	0.43	2.83	1.47	17
9_Cu_HG	K-22-255	152	174	22	2.02	0.69	6.05	2.60	13
			Average	24	1.53	0.55	4.30	1.99	24
PEA Pit Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
5_Au_HG	K-18-180	32	78	46	1.29	1.13	4.16	2.18	38
5_Au_HG	K-18-182	35	90	55	1.60	1.34	4.87	2.67	41
5_Au_HG	K-21-211	34	54	20	1.12	0.96	3.51	1.88	19
			Average	40	1.40	1.20	4.37	2.35	34
PEA Pit Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
10_Au_HG	K-07-28	174	186	12	0.72	0.94	3.22	1.46	12
10_Au_HG	K-07-32	128	146	18	0.76	1.48	2.26	1.90	17
10_Au_HG	K-18-185	128	148	20	1.05	0.88	4.13	1.76	18
10_Au_HG	K-22-230	292	302	10	0.30	1.79	0.92	1.67	10
			Average	15	0.77	1.22	2.85	1.73	11
PEA Pit Area
Zone	Hole	From	To	Length	Cu %	Au g/t	Ag g/t	CuEq	Est. True Width
8_Au_LG	K-06-06	60	76	16	0.34	0.13	0.93	0.44	16
8_Au_LG	K-07-20	114	134	20	0.47	0.27	1.32	0.69	19
8_Au_LG	K-07-24	106	120	14	0.42	0.21	0.90	0.58	13
8_Au_LG	K-07-24	134	198	64	0.15	0.29	0.64	0.38	60
8_Au_LG	K-07-29	40	178	138	0.41	0.10	0.77	0.50	135
8_Au_LG	K-07-29	200	228	28	0.40	0.20	1.18	0.56	27
8_Au_LG	K-07-32	58	102	44	0.24	0.38	0.69	0.54	42
8_Au_LG	K-07-32	117	128	11	0.05	0.06	0.20	0.10	11
8_Au_LG	K-07-32	146	164	18	0.17	0.38	0.55	0.46	17
8_Au_LG	K-07-38	117	134	17	0.38	0.17	1.04	0.52	16
8_Au_LG	K-07-47	178	232	54	0.49	0.12	1.21	0.59	53
8_Au_LG	K-07-49	152	190	38	0.55	0.22	1.35	0.73	38
8_Au_LG	K-08-101	170	182	12	0.35	0.23	0.52	0.53	12
8_Au_LG	K-08-62	156	242	86	0.41	0.16	1.39	0.54	83
8_Au_LG	K-08-65	180	208	28	0.36	0.12	0.60	0.46	27
8_Au_LG	K-18-185	148	206	58	0.30	0.74	1.47	0.88	53
8_Au_LG	K-20-198	214	238	24	0.48	0.22	1.63	0.66	23
8_Au_LG	K-21-205	100	164	64	0.54	0.22	1.70	0.72	60
8_Au_LG	K-21-205	198	230	32	0.55	0.36	1.98	0.84	30
8_Au_LG	K-21-207	70	204	134	0.47	0.16	1.14	0.61	125
8_Au_LG	K-21-208	38	80	42	0.78	0.32	2.52	1.05	39
8_Au_LG	K-21-208	114	178	64	0.35	0.12	0.97	0.45	60
8_Au_LG	K-21-212	72	82	10	0.64	0.52	2.08	1.06	9
8_Au_LG	K-21-212	118	167	49	0.19	0.45	0.92	0.54	45
8_Au_LG	K-21-212	168	268	100	0.25	0.32	0.95	0.51	93
8_Au_LG	K-21-213	41	138	97	0.21	0.48	0.83	0.58	93
8_Au_LG	K-21-213	148	186	38	0.25	0.14	0.70	0.36	37
8_Au_LG	K-21-214	64	160	96	0.31	0.47	1.39	0.67	92
8_Au_LG	K-22-228	112	182	70	0.45	0.17	1.33	0.59	70
8_Au_LG	K-22-229	34	113	79	0.51	0.18	1.36	0.66	78
8_Au_LG	K-22-231	120	154	34	0.56	0.29	1.74	0.80	34
8_Au_LG	K-22-232	35	136	101	0.54	0.25	2.63	0.76	101
8_Au_LG	K-22-233	34	132	98	0.74	0.24	1.84	0.94	98
8_Au_LG	K-22-235	74	98	24	0.29	0.52	1.27	0.70	24
8_Au_LG	K-22-235	150	176	26	0.35	0.23	0.98	0.53	26
8_Au_LG	K-22-236	108	144	36	0.28	0.33	0.81	0.54	35
8_Au_LG	K-22-255	174	176	2	2.66	0.67	6.52	3.23	2
8_Au_LG	K-22-255	176	190	14	0.79	0.19	2.25	0.96	13
8_Au_LG	K-22-255	196	206	10	0.80	0.33	2.69	1.08	9
Average				48	0.41	0.27	1.29	0.63	35

Table 2. Kwanika Central - Select high-angle historical drill hole collar information

Hole	Collar X	Collar Y	Collar Z	Collar Azimuth	Collar Dip	Final Length
K-06-06	351571	6156523	1010	270	-55	243
K-07-20	351537	6156318	999	90	-60	379
K-07-24	351433	6156364	1004	90	-65	453
K-07-28	351624	6156248	981	314	-55	438
K-07-29	351624	6156248	981	265	-55	496
K-07-30	351624	6156248	981	270	-80	712
K-07-32	351615	6156356	1000	270	-60	465
K-07-38	351436	6156202	998	90	-65	585
K-07-46	351728	6156201	979	270	-55	624
K-07-47	351427	6156123	988	97	-53	423
K-07-49	351430	6156152	996	87	-46	392
K-07-51	351429	6156152	996	0	-90	694
K-07-52	351431	6156205	998	0	-90	664
K-07-53	351429	6156121	988	0	-90	559
K-07-54	351369	6156259	1003	0	-90	688
K-07-55	351359	6156171	986	172	-87	651
K-08-58	351363	6156211	997	0	-90	587
K-08-59	351281	6156094	983	90	-80	609
K-08-60	351287	6156150	985	0	-90	587
K-08-62	351639	6156148	979	270	-58	758
K-08-63	351291	6156213	1000	0	-90	603
K-08-65	351658	6156104	978	270	-58	658
K-08-78	351204	6156201	1003	0	-90	685
K-08-86	351287	6156258	1004	0	-90	762
K-08-90	351134	6156225	1009	190	-87	825
K-08-91	351203	6156253	1004	0	-90	797
K-08-93	351207	6156153	995	0	-90	752
K-08-96	351136	6156154	986	0	-90	771
K-08-97	351208	6156102	984	0	-90	844
K-08-101	351679	6156605	1013	270	-55	487
K-08-107	351130	6156109	985	0	-90	774
K-08-113	351442	6156207	998	85	-80	664
K-18-180	351499	6156313	999	181	-66	665
K-18-182	351499	6156313	999	181	-75	551
K-18-185	351526	6156313	999	280	-68	321
K-20-198	351688	6156312	995	240	-56	965
K-21-205	351453	6156290	1001	90	-65	267
K-21-207	351486	6156255	996	90	-65	213
K-21-208	351486	6156255	996	120	-65	222
K-21-211	351547	6156317	998	180	-50	174
K-21-212	351474	6156366	1003	90	-65	274
K-21-213	351512	6156416	1006	90	-60	219
K-21-214	351500	6156460	1009	90	-60	222
K-22-228	351638	6156145	978	300	-45	198
K-22-229	351615	6156120	985	270	-52	217
K-22-230	351591	6156091	986	320	-45	398
K-22-231	351476	6156219	993	120	-45	212
K-22-232	351476	6156220	993	95	-45	197
K-22-233	351487	6156253	995	100	-45	188
K-22-235	351492	6156551	1014	85	-55	242
K-22-236	351489	6156638	1013	85	-55	279
K-22-255	351617	6156083	989	298	-65	552

Quality Assurance and Quality Control (QA/QC)

Kwanika
An independent assay Quality Assurance/Quality Control (QA/QC) program has been in place throughout the drilling campaigns carried out by Serengeti and Northwest Copper since 2006. Control samples have included Certified Reference Materials (CRMs), pulp blanks, and quarter-core twin samples (field duplicates).

CRMs were prepared by CDN Resource Labs Ltd. (CDN) of Langley, BC or by Ore Research & Exploration P/L in Australia. Most of the standards used are certified for both copper and gold values. Two standards are not certified for gold and are deemed “Provisional”. Blank material comprised packets of pulverized barren material. The 2020-2021 drilling campaign used a certified blank, also prepared by CDN. Pulp blanks are used to assess contamination during assaying. During 2021, a small number of coarse blanks (unmineralized garden stone) were used to assess contamination during preparation.

Twin samples were produced by cutting the initial core sample interval in half and leaving one half in the core box. The half to be sent to the laboratory for analyses was then quartered by cutting each piece in half again and putting one quarter of the core in one sample bag and the other quarter of the core in a separate sample bag. Twin samples are generally used to assess sampling precision and mineralization homogeneity.

A full report on QA/QC is available in the 2023 PEA technical report.

About NorthWest Copper:

NorthWest Copper is a copper-gold exploration and development company with a pipeline of advanced and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and traditional land use. Additional information can be found on the Company’s website at www.northwestcopper.ca .

On Behalf of NorthWest Copper Corp.
“Paul Olmsted”
CEO, NorthWest Copper

For further information, please contact:
604-683-7790
info@northwestcopper.ca

Neither the TSXV 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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative 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) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to statements with respect to; plans and intentions of the Company; proposed exploration and development of NorthWest’s exploration property interests; the Company’s ability to finance future operations; mine plans; magnitude or quality of mineral deposits; the development, operational and economic results of current and future potential economic studies; adding the Lorraine resource to the Kwanika-Stardust Project; the Company’s goals for 2025; geological interpretations; the estimation of Mineral Resources; anticipated advancement of mineral properties or programs; future exploration prospects; the completion and timing of technical reports; future growth potential of NorthWest; and future development plans

All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from NorthWest’s expectations include risks associated with the business of NorthWest; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.com).

Forward-looking information is based on estimates and opinions of management at the date the information is made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.

¹ See NI 43-101 technical report titled “Kwanika-Stardust Project NI 43-101 Technical Report on Preliminary Economic Assessment” dated February 17, 2023, with an effective date of January 4, 2023, filed under the Company’s SEDAR+ profile at www.sedarplus.com.
²CuEq assumes long term USD metal prices of $2210/oz gold, $4.25/lbs copper and $27.70/oz silver, calculated as follows:CuEq = Cu % + (Au g/t /31.1035g/oz * $2210/oz) / ($4.25/lb * 2204.62lbs/t) * 100 + (Ag g/t /31.1035g/oz * $27.70/oz) / ($4.25/lb*2204.62lbs/t) * 0
³ Holes within 30 degrees of dip direction and moderate to high angle to zone, low-angle holes are filtered out.
⁴ CuEq assumes long term USD metal prices of $2210/oz gold, $4.25/lbs copper and $27.70/oz silver, calculated as follows: Cu % + (Au g/t /31.1035g/oz * $2210/oz) / ($4.25/lbs * 2204.62lbs/t) * 100 + (Ag g/t /31.1035g/oz * $27.70/oz) / ($4.25/lbs*2204.62lbs/t) * 100
⁵ Assays from current exploration database, values are uncapped
⁶ Estimated true widths based on collar dip and average zone dip (180 - (zone dip + collar dip))

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92443fe9-536e-4eeb-85ea-6f21a09bbede

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