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Aurwest Resources Corp
Symbol AWR
Shares Issued 104,521,635
Close 2025-12-30 C$ 0.01
Market Cap C$ 1,045,216
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Aurwest Resources signs LOI to acquire Weaver interest

2026-01-06 19:11 ET - News Release

Mr. Cameron MacDonald reports

AURWEST RESOURCES EXECUTES LOI ON WEAVER LAKE GOLD PROJECT

Aurwest Resources Corp. has entered into a non-binding letter of intent (LOI) with Pacific Bay Minerals Ltd., whereby Aurwest can earn a 50-per-cent interest in Pacific Bay's 100-per-cent-owned Weaver gold project over three years.

Weaver gold project

Located in southwestern British Columbia's prolific East Harrison Lake belt, the property hosts strong potential for orogenic gold-silver mineralization hosted in structurally controlled quartz-carbonate vein systems, with historical exploration yielding impressive high-grade results, including up to 63.77 grams per tonne (g/t) gold and 2,009.44 g/t silver from trench sampling, and multiple drill intercepts with multigram gold and silver over metre-scale widths.

Situated near excellent infrastructure with year-round access via paved highways and forestry roads, the 725-hectare property also offers secondary upside for magmatic nickel-copper sulphide mineralization, drawing parallels to the nearby Pacific Nickel (Giant Mascot) mine. The Whitehead report concludes that Weaver Lake is a property of merit warranting continued exploration, supported by its favourable geological setting, confirmed mineralization continuity, and untapped potential along strike and at depth.

"The Weaver gold project represents an exciting opportunity for Aurwest to get into the gold exploration sector in B.C.," said Aurwest chief executive officer Cameron MacDonald. "We're looking forward to getting to work on this high-potential project."

Terms of the option

Under the LOI, Aurwest can earn a 50-per-cent interest in the property by making cash and share payments over three years and completing exploration work as follows:

  1. Upon signing of this agreement, $10,000 and 500,000 shares of Aurwest;
  2. Upon receipt of regulatory approval, payment to Pacific Bay of $20,000 worth of common shares of Aurwest based on the 20-day volume weighted average price of Aurwest;
  3. On or before the first anniversary of the LOI: $15,000 cash; $25,000 worth of Aurwest shares based on the VWAP; and $75,000 in exploration work on the property
  4. On or before the second anniversary of the LOI: $20,000 cash; $75,000 worth of Aurwest shares based on the VWAP; and an additional $100,000 in exploration work on the property;
  5. On or before the third anniversary of the LOI: $25,000 cash; $75,000 worth of Aurwest shares based on the VWAP; and an additional $150,000 in exploration work on the property.

The historical exploration data and analytical results reported in this news release were taken from assessment reports prepared by an independent technical report on the Weaver Lake property by Pacific Bay. Neither Aurwest nor a qualified person has verified the historical sampling, analytical and test data contained in this news release. The historical grab sampling results reported in this news release are selected samples and are not necessarily indicative of the mineralization hosted on the property.

About Aurwest Resources Corp.

Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration and development of gold properties in Canada.

We seek Safe Harbor.

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