Aurwest Resources Executes LOI on Weaver Lake Gold Project

Executive Summary

• Aurwest Resources entered a non‑binding Letter of Intent with Pacific Bay Minerals to earn a 50 % interest in the 100 % owned Weaver Gold Project in British Columbia over three years.
• The LOI outlines cash and share payments plus staged exploration work totaling $150,000 in cash and $225,000 worth of Aurwest shares, plus $375,000 in cumulative exploration effort.
• Historical data from the property show high‑grade gold (up to 63.77 g/t Au) and silver (2,009.44 g/t Ag) results, indicating strong exploration upside for Aurwest.

Key Details

• Parties: Aurwest Resources Corp. (CSE:AWR) and Pacific Bay Minerals Ltd. (TSXV:PBM).
• Project: Weaver Gold Project – 725‑hectare property in the East Harrison Lake Belt, BC; hosts orogenic gold‑silver quartz‑carbonate veins and potential magmatic Ni‑Cu sulphide mineralization.
• Earn‑In Structure:
• Signing: $10,000 cash + 500,000 Aurwest shares.
• Regulatory Approval: $20,000 worth of Aurwest common shares (based on 20‑day VWAP).
• Year 1 Milestone (≤ 12 months): $15,000 cash; $25,000 worth of Aurwest shares (VWAP); $75,000 in exploration work.
• Year 2 Milestone (≤ 24 months): $20,000 cash; $75,000 worth of Aurwest shares (VWAP); additional $100,000 in exploration work.
• Year 3 Milestone (≤ 36 months): $25,000 cash; $75,000 worth of Aurwest shares (VWAP); additional $150,000 in exploration work.
• Total Consideration (if all milestones met): $70,000 cash + $200,000 worth of Aurwest shares (based on VWAP) plus $375,000 cumulative exploration spend.
• Historical Results (for context only):
• Trench sampling: up to 63.77 g/t Au and 2,009.44 g/t Ag.
• Multiple drill intercepts with multi‑gram Au and Ag over metre‑scale widths.
• Strategic Rationale: Provides Aurwest entry into BC gold exploration; leverages existing high‑grade historical data and infrastructure access.
• CEO Quote: “The Weaver Gold Project represents an exciting opportunity for Aurwest to get into the gold exploration sector in B.C.,” – Cameron MacDonald, Interim President & CEO.

Notable Quotes

“The Weaver Gold Project represents an exciting opportunity for Aurwest to get into the gold exploration sector in B.C.,” said Aurwest CEO Cameron MacDonald. “We’re looking forward to getting to work on this high‑potential project.”