Northwest Copper Announces Start of 2024 Lorraine – Top CAT Exploration Drill Program
News Release
NORTHWEST COPPER ANNOUNCES START OF 2024 LORRAINE – TOP CAT
EXPLORATION DRILL PROGRAM
Vancouver, BC – July 4, 2024 – NorthWest Copper (“NorthWest” or “the Company”) (TSX -V: NWST) is pleased to
report that crews have mobilized to the field and drilling is expected to begin mid-July at the Lorraine-Top Cat project
in north-central British Columbia. This is the first drill program for NorthWest in 2024. It is an integral component
of the Company’s shareholder value objective to grow our mineral resource base via exploration.
Approximately 1,000 meters (“m”) of drilling is planned at Lorraine-Top Cat and the proposed holes will focus on the
regional Nova and Road IP Targets (Figure 1). Both targets have potential to discover mineralization in areas outside
of the current Lorraine mineral resource estimate (“MRE”) (indicated resources of 12.952 million tonnes (“ Mt”)
grading 0.55% copper (“Cu”) and 0.16 g/t gold (“ Au”), and inferred resources of 45.252 Mt grading 0.43% Cu and
0.10 g/t Au at 0.20% copper cut-off grade1)2.
Figure 1. Location of the Drill Targets Nova and Road IP relative to NorthWest ’s mineral tenure at Lorraine-Top Cat.
1 See NI 43 -101 technical report titled “Lorraine Copper -Gold Project NI 43 -101 Report & Mineral Resource Estimate Omineca Mining Division, B.C”,
dated September 12, 2022 with an effective date of June 30, 2022, filed under the Company’s SEDAR + profile at www.sedarplus.com.
2 Mineral Resources are not Mineral Reserves 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 explora tion 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 explo ration. The estimate of Mineral Resources may be materially affected by geology,
environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues. Inferred Mineral Resourc es have a great amount of
uncertainty as to their existence and as to whether they can be mined economically.
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Road IP Target
The Road IP Ta rget is a geophysical and geochemical target 13 kilometer (“km”) to the n orth of the Lorraine MRE
and is within the same valley as the Nova Target . This target comprises a coincident magnetic low with internal
magnetic high, induced polarization (IP) chargeability high, and Cu-Mo Ah soil and silt anomalies3. The Road IP Target
model is that of a calc- alkaline porphyry system hosted by intrusions of the Hogem batholith, a deposit style that
may exhibit geophysical and geochemical patterns that differ from targets in the D ucking Creek Syenite Complex ,
such as the Lorraine MRE. The Road IP Target occupies flat, low-lying ground, and is covered by an estimated (by the
BCGS) 15 m of till. The target is bisected by and is accessible via the Upper Osilinka F orest Service Road.
Nova Target
The Nova Target is a geophysical feature consisting of coincident magnetic and IP chargeability high s. The strongest
magnetic response measures approximately 400 x 200 m. Nova is approximately 10 km northeast of the Road IP
Target. A boulder of pyroxenite altered to skarn collected from a borrow-pit along the road that crosses the Target
returned high concentrations of Cu-Au-Ag-Pt-Pd of 1.39% Cu, 0.69 g/t Au, 6.45 g/t Ag, 0.21 g/t Pt and 1.398 g/t Pd.4
It is important to note that this potentially transported sample may not be representative of underlying bedrock .
Thin section analysis by Dr. John Payne in 2019 described it as:
“Massive skarn dominated by actinolite with lesser magnetite-(ilmenite) and apatite, with a
few skeletal interstitial grains of hornblende, scattered patches of chalcopyrite and much less
abundant bornite (altered slightly to completely to covellite), and minor biotite and chlorite.”
The Nova Target occupies flat, low -lying ground, and is covered by till. It is bisected by the Upper Osilinka Forest
Service Road, making the target easily accessible.
The Lorraine-Top Cat Project
The Project covers 65,000 ha and is located in north -central British Columbia, 280 km northwest of Prince George,
BC and approximately 4 5 km from NorthWest’s Kwanika -Stardust Project. The Lorraine deposit is a silica -
undersaturated alkalic copper-gold porphyry deposit, which is the same classification as the Galore Creek and Mount
Polley deposits. 5 Mineralization at the Lorraine - Top Cat Project is hosted mostly by Early Jurassic syenite and
pyroxenite intrusions that are part of the Duckling Creek Syenite Complex (“DCSC”), but additional targets such as
Road IP are associated with other phases of the Jurassic Hogem batholith or with older Takla Group volcanic rocks .
A modern mineral resource estimate (MRE) was completed for portions of the Lorraine deposit in 20226 that includes
indicated resources of 12.952 Mt grad ing 0.55% Cu and 0.16 g/t Au, and inferred resources of 45.252 Mt grading
0.43% Cu and 0.10 g/t Au at 0.20% copper cut -off grade . 7 As described in previous disclosure s, however, gold
concentration is likely understated and silver was not included in the estimation because many historical drill holes
were inconsistently analyzed for the two metals. The MRE extends to surface and includes the Lower Main, Upper
Main, and Bishop Zones and intervening rock. Copper sulph ides manifest various combinations of chalcopyrite,
3 See annual report , Geochemical and Geophysical Report on the Top Cat Property, April 21 st, 2021, Assessment Report no. 39379. Available at
www2.gov.bc.ca/gov/content/industry/mineral-exploration-mining/british-columbia-geological-survey/assessmentreports
4 See news release dated January 19th, 2020 available at www.northwestcopper.ca and www.sedarplus.com.
5 Lang et al. (1995) Triassic-Jurassic silica-undersaturated and silica-saturated alkalic intrusions in the Cordillera of British Columbia: Implications for arc
magmatism. Geology, v. 23, p. 451-454.
6 See news release dated July 27, 2022 available at www.northwestcopper.ca and www.sedarplus.com.
7 See NI 43- 101 technical report titled “Lorraine Copper -Gold Project NI 43 -101 Report & Mineral Resource Estimate Omineca Mining Division, B.C”,
dated September 12, 2022 with an effective date of June 30, 2022, filed under the Company’s SEDAR + profile at www.sedarplus.com.
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bornite and hypogene chalcocite, and the concentration of pyrite is generally low. Gold and silver, where analyzed,
are spatially related to the copper mineralization, and elevated concentrations of platinum and palladium have been
reported in several published papers.
Disclosure Statement
Technical aspects of this news release have been reviewed, verified, and approved by Tyler Caswell, P.Geo., VP
Exploration of NorthWest, who is a qualified person as defined by National Instrument 43 -101 – Standards of
Disclosure for Minerals Projects.
About NorthWest Copper:
NorthWest Copper is a copper -gold explorer with a strong portfolio of projects in British Columbia. With a robust
portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate in a strengthening global
copper market. We are committed to responsible mineral exploration which includes 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.
“Tyler Caswell”
Vice President, Exploration
For further information, please contact:
Tel: 604-683-7790
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, 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 including potential
size of budget and type of exploration being conducted; the Company’s ability to finance future operations; the
potential size of a mineralized zone or potential expansion of mineralization; geological interpretations; the
estimation of Mineral Resources; future operations; mine plans, and magnitude or quality of mineral deposits.
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 rel iance 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
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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 perio dic 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 interpret ation 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 obt ain 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 t o 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.sedarpl us.com).
Forward-looking information is based on estimates and opinions of management at the date the information are
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.