NorthWest Copper Announces Property Sale Agreement
News Release
NorthWest Copper Announces Property Sale Agreement
VANCOUVER, British Columbia, September 25, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the
Company”) (TSX -V: NWST) (OTCQX: NWCCF) is pleased to announce that it has entered into a property sale
agreement (the “ Agreement”) with Alpha Copper Corp. (“Alpha”) (CSE:ALCU) whereby Alpha will acquire a 100%
interest in a series of mineral claims located in the province of British Columbia commonly referred to as the
“Okeover Copper (molybdenum) Project” (the “Property”), subject to 2% net smelter return to be retained by the
Company (the “NSR Royalty”).
Pursuant to the Agreement, Alpha has agreed to issue to NorthWest common shares of Alpha (the “Shares”) having
an aggregate value of $500,000 at a deemed price per Share, to be calculated on the closing date in accordance with
the terms of the Agreement. One-half (50%) of the Shares will be subject to a 12-month lock-up. The Shares will also
be subject to a statutory hold period in accordance with applicable securities laws.
The NSR Royalty will entitle NorthWest to a 2% royalty on the sale of all ores, doré, concentrates, metals, minerals
and mineral by-products that are produced or extracted by or on behalf of Alpha from the Property, which may be
bought down by Alpha by one half with a cash payment of $1,000,000.
The Agreement remains subject to approval by the Canadian Securities Exchange.
Okeover Property Description
The Property is located near Powell River on the southern British Columbia coast. It consists of 12 contiguous claims
totaling 4,614 hectares and is beneficially owned 100% by NorthWest, subject to the Agreement.
About NorthWest Copper:
NorthWest Copper is a copper-gold explorer and developer with an exciting pipeline of projects in British Columbia.
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 the Board of Directors of NorthWest Copper Corp.
“David Moore”
Director, Interim President and CEO
For further information, please contact:
Peter Lekich, Director Investor Relations
Tel: 778-389-2446
Email: [email protected]
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
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Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release about anticipated future events or results constitute forward- looking statements
including, but not limited to, statements with respect to: those that address the anticipated closing of the Agreement
and necessary appro vals for the closing of the Agreement. Forward- looking statements are often, but not always,
identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and
statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar
expressions. All statements, other than statements of historical fact, included herein, are forward -looking
statements, and include: approval by the Canadian Securities Exchange of t he Agreement; and any earnings in
connection with the NSR Royalty. Although NorthWest believes that the expectations reflected in such forward-
looking statements and/or information are reasonable, undue reliance should not be placed on forward- looking
statements since NorthWest can give no assurance that such expectations will prove to be correct. These statements
involve 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 statements, including the risks, uncertainties and other
factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward-looking statements 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 statements. Important factors that could
cause actual results to differ materially from NorthWest’s expectations include r isks 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 o f delay in exploration or development programs and uncertainty of meeting
anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals
including TSXV approval of the Transaction; 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.ca ). Forward-looking statements are based on estimates and opinions of management at the date
the statements are made. NorthWest does not undertake any obligation to update forward -looking statements
except as required by applicable securities laws. Investor s should not place undue reliance on forward- looking
statements.