Mr. Paul Olmsted reports

NORTHWEST MAINTAINS OPTION ON A PORTION OF THE ARJAY PROJECT

Northwest Copper Corp. is maintaining its option on the Asitka claims that form a key portion of the company's 100-per-cent-owned Arjay project. The total Arjay project covers approximately 4,800 hectares and is located roughly 50 kilometres south of Centerra Gold Inc.'s Kemess project.

Northwest believes in the mineral exploration discovery potential of the Arjay project. Therefore, it is making the next option payment pursuant to the option agreement entered into on Sept. 27, 2022, to maintain its right to acquire 100 per cent of the Asitka claims. The Arjay project represents an important part of the company's total land package within British Columbia's Omineca district, assembled for its high potential to host new porphyry copper and gold deposits. While the focus of the company remains on its core assets like Kwanika-Stardust, Lorraine and East Niv, it will also pursue ways to enhance shareholder value by continuing to advance its other properties, including Arjay, through potential agreements and transactions with other parties.

Geoff Chinn, PGeo, vice-president, business development and exploration, stated: "Northwest has an impressive portfolio of early-stage, high-quality exploration properties, including Arjay, Croy Bloom, Milligan West and UDS, assembled over many years of exploration. Arjay is of particular interest owing to its excellent exploration targets, recent copper showing, open geochemical anomalies, and close proximity to power and road infrastructure. Given our priorities are on our advanced projects, early-stage projects like Arjay could benefit from partners to advance them."

The Arjay property is situated in the northern part of the Quesnel trough, a volcanic arc terrane that formed during the late Triassic to early Jurassic in the northwesterly trending Intermontane belt of the Canadian Cordillera. The Quesnel terrane is host to many large alkalic and calc-alkalic porphyry copper-gold deposits, which formed during Early Mesozoic island-arc magmatism.

Previous work demonstrated that additional exploration is warranted with the potential to drill previously identified porphyry targets. Future programs at Arjay will focus on additional exploration at three main high-potential targets, North Ridge, Arjay and Asitka Lake Area, as summarized below.

North Ridge

The North Ridge target covers silicified pyrite gossanous zones that trend north to south and toward a large gossanous zone. A rock sample returned 3.9 per cent copper, 156.8 parts per million silver and 12.9 ppm molybdenum hosted in a sheared quartz vein located in talus below the target. Historic soil sampling in the area shows copper and molybdenum anomalies draining the ridge that contains strongly altered rocks associated with pyrite and quartz. Disseminated chalcopyrite is also present in talus. The target area is drill ready with two proposed holes.

Asitka Lake Area

The Asitka Lake Area target has a historic silt sample of 244 ppm copper along Asitka Lake. In 2021, Northwest found several outcrops of andesite volcanic flows with blebby epidote associated with chalcopyrite and lesser hematite and chlorite alteration, which warrant further exploration.

Arjay target

The Arjay target is a quartz shear zone that occurs over 250 metres and is 0.5 to 1.0 metre wide trending north-south. This shear is flooded with quartz carrying copper mineralization. Samples collected have produced 13.3 per cent and 57.3 per cent copper within the shear zone. The zone is associated with a magnetic-low feature toward the north that is aligned with the shear zone, which could represent hydrothermal alteration effects.

Under the option agreement, the company agreed to pay the optionor increasing amounts of cash and common shares of the company on or before July 31 of each year, with the fourth and final payment due on or before July 31, 2026.

The company amended the third-anniversary payment under the option agreement by:

1. Extending the deadline for payment to within 10 business days of Sept. 30, 2025;
2. Changing the payment from $75,000 in cash and $50,000 in common shares to $37,500 in cash and $87,500 in common shares.

The number of common shares to be issued is to be calculated using the 20-day volume-weighted trading price of the common shares. Issuance of the $87,500 worth of common shares is subject to the approval of the TSX Venture Exchange. Securities issued for the third-anniversary payment will be subject to a hold period of four months and one day after the date of issuance.

The company has also entered into debt settlement agreements with two arm's-length service providers to settle outstanding debt for past services performed by the creditors in the aggregate amount of $54,660 (inclusive of GST (goods and services tax)). The debt will be settled by issuing an aggregate of 188,483 common shares at a deemed price of 29 cents per common share.

One creditor will receive 105,207 common shares as payment of debt in the amount of $30,510 (inclusive of HST (harmonized sales tax)) and the other creditor will receive 83,276 common shares as payment of debt in the amount of $24,150 (inclusive of GST). Closing of the debt settlements is subject to customary closing conditions, including the approval of the TSX-V. All securities issued pursuant to the debt settlements will be subject to a hold period of four months and one day after the date of issuance.

Northwest also announces that it has granted 150,000 stock options to the company's chief financial officer, Sapan Bedi, pursuant to its equity incentive plan. The stock options have an exercise price of 29 cents, vest over three years and expire after five years.

Technical aspects of this news release have been reviewed, verified and approved by Geoff Chinn, PGeo, vice-president, business development and exploration, for Northwest, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Minerals Projects.

About Northwest Copper Corp.

Northwest Copper is a copper-gold exploration and development company with a pipeline of advanced and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in a Tier 1 jurisdiction, Northwest Copper is well positioned to participate fully in a strengthening global copper market. The company is committed to responsible mineral exploration, which involves working collaboratively with first nations to ensure future development incorporates stewardship best practices and traditional land use.

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