Northwest Copper Announces Start of 2022 Lorraine Drill Program
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News Release
NORTHWEST COPPER ANNOUNCES START OF 2022 LORRAINE DRILL
PROGRAM
Vancouver, BC – August 18, 2022 – NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST)
(OTCQX: NWCCF) is pleased to announce that drilling has started at our Lorraine project in north-central
British Columbia. Lorraine is the Company’s fourth drill program of 2022, with drilling already underway
at Kwanika (28 holes completed), Stardust (eight holes competed) and East Niv (seven holes completed).
“The start of Lorraine drilling follows the release of an updated Mineral Resource Estimate in July and we
are excited to begin exploring on the project, as we believe it has great geologic potential. Our 2022 drill
program will focus on increasing our understanding of the deposit, growing the Mineral Resource and
testing new targets,” stated President and CEO Peter Bell. “Lorraine has had significant historical drilling,
but has not been drilled in nearly fifteen years. The new drilling will build on the historical data and allow
us to continue to advance the project. Lorraine is also located in proximity to the proposed infrastructure
for the Kwanika -Stardust projects and has the potential to be included in a regional development
evaluation.”
The Lorraine Project
The Lorraine project is located in central British Columbia, 280km northwest of Prince George, BC and
approximately 40km from NorthWest’s Kwanika-Stardust projects, with favourable topography between
the deposits and covers 56,000 hectares of ground . The Company announced an updated Mineral
Resource Estimate for Lorraine in July 20221 (see Table 1 below).
Approximately 5,000 meters of drilling is planned for the 2022 drill program (Figure 1) and the proposed
drill holes will focus on the area covered by the updated Mineral Resource Estimate (Bishop, Lower Main
and Upper Main zones) and will also include another regional target at the Tam zone. The budget for the
2022 drill program is approximately $4.9 million with approximately $3. 6 million in drilling and
approximately $1.3 million in IP and EM surveys and other technical work.
1 See News Release dated July 27, 2022, available at www.northwestcopper.ca and the Company’s profile at www.sedar.com. A NI 43-101 technical
report will be filed under the Company’s SEDAR profile at www.sedar.com within 45 days of July 27, 2022.
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Table 1: Lorraine Mineral Resource Estimate at 0.20% copper cut-off grade (effective date June 30, 2022)
Class2 Tonnes
(000s)
Avg Cu
Grade
(%Cu)
Avg Au
Grade
(g/t)
Cu (‘000
lbs)
Au ('000
oz)
Total Indicated 12,952 0.55 0.16 156,093 68
Inferred 45,452 0.43 0.10 427,931 145
Differences may occur in totals due to rounding
Figure 1: Proposed 2022 Drilling Target Areas
Technical aspects of this news release have been reviewed, verified and approved by Tyler Caswell P.Geo.,
Principal Geologist of NorthWest, who is a Qualified Person as defined by NI 43-101.
2 Mineral Resources are not Mineral R eserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral
Resources estimated will be converted into Mineral Reserves in future. There has been insufficient exploration to define the inferred resources tabulated
above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the Inferred Mine ral Resources could be
upgraded to Indicated Mineral Resources with continued exploration. The estimate of Mineral Re sources may be materially affected by geology,
environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues. Inferred Mineral Resour ces have a great amount of
uncertainty as to their existence and as to whether they can be mined economically.
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About NorthWest Copper:
NorthWest Copper is a new 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 working collaboratively
with First Nations to advance our work in a culturally and environmentally respectful manner. 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.
“Peter Bell”
Director, President and CEO
For further information, please contact:
Peter Lekich, Director Investor Relations
Tel: 604-697-4962
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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements in this
news release about anticipated future events or results constitute forward -looking information including but not limited to
statements with respect to: the Company’s goals for 2022; geological interpretations; anticipated drill results and exploration
results; the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral
properties or programs; future operations; mine plans; future exploration prospects; the completion and timing of technic al
reports; future growth potential of NorthWest Copper; and future development plans. Forward-looking information is 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 constitutes forward -looking information. Althoug h
NorthWest Copper 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 Copper 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 Copper’s periodic filings with Canadian
securities regulators. Forward-looking information is subject to business and economic risks and uncertainties and other factors
that could caus e 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 Copper’s expectations include risks
associated with the busin ess of NorthWest Copper; risks related to reliance on technical information provided by NorthWest
Copper; 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; th e
possibility of delay in explo ration 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 identifie d in NorthWest Copper’s filings with Canadian securities regulators on SEDAR in Canada
(available at www.sedar.com). Forward-looking information is based on estimates and opinions of management at the date the
statements are made. NorthWest Copper 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.