Saturday, September 26, 2026
MiningNewsTerminal
Saturday, September 26, 2026 Admin

NWST.V ·

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

Corporate Updates

Page 1 of 10

News Release

NORTHWEST ANNOUNCES TARGET MODEL AT KWANIKA WITH HIGHER-GRADE

ZONES OVER SIGNIFICANT THICKNESSES TO SUPPORT NEW STRATEGIC

APPROACH

Vancouver, BC – April 10, 2025 – 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 strategi c initiatives to enhance the value of the existing PEA 1 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 inspect ion 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 r e-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).

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

Page 2 of 10

• The Central area has two key parallel zones trend ing 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, t he 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, t he 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..

Page 3 of 10

Executive Changes

The Company also announces th at 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 explorat ion, 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.

Page 4 of 10

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

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*2204.62l bs/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))

Page 5 of 10

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

Page 6 of 10

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

Page 7 of 10

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

Page 8 of 10

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