Positive PEA For Kwanika-Stardust Copper-Gold Project

VANCOUVER - NorthWest Copper Corp. reported on the preliminary economic assessment (“2023 PEA”), on its Kwanika-Stardust Project comprising the Kwanika and Stardust deposits. This represents the first technical and economic evaluation of the combined deposits outlining a robust project with manageable initial capital cost and multiple opportunities for project growth. NorthWest plans to continue to evaluate the possibility of further synergies with nearby deposits and the proposed Project infrastructure, with a particular focus on the nearby Lorraine Project 1.

The 2023 PEA outlines a project that proposes mining approximately 96 million tonnes (“Mt”) of material in a combination of open pit and underground operations from the Kwanika and Stardust deposits. The 2023 PEA contemplates a 22,000 tonnes per day (“tpd”) process plant, producing high-quality copper concentrate with significant gold and silver by-product credits.

“This study is a major step in demonstrating the value created by combining Kwanika and Stardust, the cornerstone deposits of the NorthWest portfolio,” said President and CEO, Peter Bell. “We have been describing a project with manageable initial capital and significant copper production to the market since creating the Company in 2021. This PEA supports that vision. We are also now working towards advancing the Project including exploring whether the nearby 100% owned Lorraine Project, located approximately 40 km away, can be developed with the infrastructure contemplated in the Kwanika-Stardust PEA. Conducting the necessary studies to ascertain whether Lorraine can be incorporated into the Kwanika-Stardust project will be the main objective of the Company in 2023, as we believe that this will add further value to the strong project we have outlined with this PEA.”

“The focus in Canada is turning to critical minerals, including copper,” continued Bell. “Our project is extremely well located, has both meaningful scale and manageable capex, benefits from existing infrastructure, has access to renewable power and is in a Tier 1 jurisdiction making it rare and highly valuable. We look forward to working collaboratively with First Nations to advance the project as part of BC and Canada’s push for critical Canadian copper production.”