Mr. Peter Bell reports

NORTHWEST COPPER REPORTS LONG INTERVALS ABOVE RESOURCE GRADE IN STEP-OUT DRILLING IN KWANIKA SOUTH ZONE

Northwest Copper Corp. has released the eighth and final set of results from the 2022 Kwanika drilling program. These results are from the Kwanika South zone, which is located one kilometre south of the Kwanika Central zone and makes up part of the company's flagship Kwanika-Stardust project. The six holes encountered several long intervals of copper and gold mineralization that have higher grades than the average of the current Kwanika South zone mineral resource estimate. Drilling also intersected mineralization outside of the pits proposed in the recently released Kwanika-Stardust preliminary economic assessment, and showed that the system remains open at depth and to the south. These results demonstrate the potential to both upgrade and expand the South zone resource. Highlights from assays include:

• K-22-251 -- 316.9 metres of 0.3 per cent copper equivalent from 307.1 metres:
  • Including 20.1 metres at 0.68 per cent CuEq from 486.3 metres;
  • Also including 45.75 metres at 0.53 per cent CuEq from 530.4 metres.
• K-22-252 -- 249.95 metres at 0.36 per cent CuEq from 162 metres:
  • Including 29.5 metres at 0.69 per cent CuEq from 277.5 metres.

"Kwanika South zone remains a compelling target for Northwest," said president and chief executive officer Peter Bell. "It is close to Kwanika Central zone, but has seen much less drilling. We believe there are opportunities not just to expand it, but also to improve the grade. Its proximity to the proposed infrastructure at Kwanika-Stardust makes any mineralization found at South zone beneficial to the project."

The company has now released all results from the 11,876 metres of drilling in 30 drill holes that were completed at Kwanika in 2022.

Drill results discussion

The six drill holes in this release were drilled in the Kwanika South zone, which is a discrete deposit located less than one kilometre south of the Kwanika Central zone. The South and Central zones are separated by a fault, and mineralization in the South zone is further distinguished from the Central zone by the presence of significant molybdenum mineralization that accompanies copper, gold and silver.

Mineralization in the South zone is hosted by equigranular quartz monzonite and is associated with both older, pervasive potassium feldspar alteration and younger alteration that includes actinolite, epidote, chlorite, sericite and carbonate. Highest-grade mineralization typically occurs in zones of brecciation and strong fracturing, and is dominated by hypogene chalcopyrite that occurs as disseminations and in quartz-sulphide veins.

The South zone locally crops out at surface below glacial overburden and is approximately 2,200 metres long, 450 metres wide and currently defined up to 630 m depth. It is bounded to the west by the west fault and to the east by the east fault. It remains open at depth and to the south.

Drill holes K-22-250, K-22-251, K-22-252, K-22-253 and K-22-254 all hit significant mineralization. The drill holes targeted high-grade corridors recognized by geological modelling of the South zone during the most-recent mineral resource estimate. The results from these holes demonstrate continuity of grade and, very importantly, potential for more high-grade zones within and outside the current mineral resource estimate. This new information further constrains the company's structural and geology model for the South zone and will help guide future exploration drilling.

The drill holes in this release were drilled over a 950-metre-long, north-to-south trend. All holes were drilled from west to east at angles of minus-65, minus-55 or minus-50 degrees. The drill holes encountered overburden from 21.7 metres to 42 metres down hole. Individual holes are described herein.

K-22-250 was drilled on Section 6155150mN within the conceptual preliminary economic assessment pit boundaries and returned an intersection of 95.3 metres at 0.24 per cent CuEq from 49 metres. The intersection ends at a fault at 142.7 metres.

Drill hole K-22-252 was drilled approximately 150 metres south of K-22-250. It is south of and below the current conceptual PEA pit. It intersected 249.95 metres grading 0.36 per cent CuEq from 162 metres. It also includes a high-grade interval of 29.5 metres at 0.69 per cent CuEq from 277.5 metres, indicating the potential for a high-grade corridor to extend to depth to the west outside of the current mineral resource estimate.

K-22-251 was drilled approximately 150 metres to the south of K-22-252 and intersected a long, mineralized interval of 316.9 metres at 0.3 per cent CuEq from 307.1 metres. The long intersection includes higher-grade intervals of 20.1 metres of 0.68 per cent CuEq from 486.3 metres as well as 45.75 metres of 0.53 per cent CuEq from 530.4 metres. These results demonstrate the presence of higher-grade domains in an area of low drilling density.

K-22-254 was drilled approximately another 120 metres to the south on section and returned two discrete intersections. The first returned 83 metres of 0.44 per cent CuEq from 58 metres, just below the base of overburden within the conceptual PEA pit. This was followed by another 51 metres of 0.38 per cent CuEq from 275 metres.

K-22-253 was drilled farthest to the south on Section 6154580mN and intersected two zones of mineralization. The first intersection returned 109.75 metres at 0.23 per cent CuEq from 74.15 metres, within the conceptual PEA pit. The second intersection returned 173.5 metres of 0.35 per cent CuEq from 275.5 metres and includes the highest-grade intersection in this release, which returned 12 metres of 1.39 per cent CuEq from 437 metres. This intersection again proves the presence of high-grade mineralized corridors within the broader mineralized resource in the South zone. Drill hole K-22-249 was drilled north of the current mineral resource estimate and did not yield any significant results. Importantly, however, this hole does provide important structural constraints to the company's interpretation of the South zone, which will be useful for future drill targeting.

Quality assurance/quality control

Drilling completed at Kwanika in 2022 was supervised by on-site Northwest personnel who collected and tracked samples and implemented a full quality assurance/quality control program, using blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Bureau Veritas (BV) in Vancouver, B.C., and to AGAT Laboratories in Calgary, Alta. BV's quality control system complies with global certifications for quality ISO9001:2008. Core samples were analyzed using a combination of BV's MA200 process for low-level concentrations (ICP-MS/four-acid digestion) and the MA370 process for higher-level concentrations (ICP-ES/four-acid digestion). Gold assaying was completed with FA430, a 30-gram fire assay with AAS finish. Base metal overlimits were finalized with titration, where required, with gold overlimits completed with a gravimetric finish. AGAT's quality control system complies with global certifications for quality ISO 9001:2015. Core samples were analyzed using a combination of AGAT's 201-071 process for low-level concentrations (ICP-MS/four-acid digestion) and the 201-079 process for higher-level concentrations (sodium peroxide fusion/ICP-OES). Gold assaying was completed with 202-055, a 30-gram fire assay with ICP finish. Base metal overlimits were finalized with the fusion/ICP-OES method.

Technical aspects of this news release have been reviewed, verified and approved by Tyler Caswell, PGeo, vice-president of exploration, who is a qualified person, as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Northwest Copper Corp.

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 1 jurisdiction, Northwest Copper is well positioned to participate fully in a strengthening global copper market. Northwest Copper is committed to responsible mineral exploration that involves working collaboratively with first nations to ensure future development incorporates stewardship best practices and traditional land use.

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