NorthWest Announces Significant Intercept of 36.0 Metres Grading 0.80% Copper and 3.21g/T Gold (3.67% CuEq) at Kwanika From 285 Metres

The most recent news, dated November 12, 2025, announces assay results from the fourth drill hole (K-25-280) of the 2025 exploration program at its flagship Kwanika Project in British Columbia. The headline result is a significant intercept of 36.0 metres grading 0.80% copper and 3.21 g/t gold, which equates to 3.67% copper equivalent (CuEq), starting from a depth of 285 metres.

The CEO, Paul Olmsted, stated this is an "outstanding result" and the "best result from the 2025 drill program to date." The release reinforces that the drilling continues to demonstrate consistency and continuity of the higher-grade zones targeted by the company's new geological model.

The news is materially positive and represents a continued success for the new management team's revised strategy. The progression of news releases since late 2024 shows a clear and well-executed plan: 1. New Strategy (Jan-Apr 2025): Appoint new leadership and define a new geological model focused on higher-grade, bulk-mineable zones at Kwanika to improve upon the 2023 PEA. 2. Financing (May-Aug 2025): Successfully raise over $4.6 million in a difficult market to fund the strategy, demonstrating investor confidence. 3. Execution (Sep-Nov 2025): Commence drilling and metallurgical testing. 4. Validation (Oct-Nov 2025): The first four drill holes reported have all returned strong to exceptional high-grade copper-gold intercepts, validating the new geological model.

This latest result (3.67% CuEq over 36m) is the strongest to date and significantly enhances the potential of the Kwanika project. It adds considerable evidence that these high-grade zones are not isolated hits but part of a larger, coherent system. This increases the probability of defining a resource that could support a lower-capex, higher-margin starter project, which is the core of the company's plan to enhance shareholder value.

However, there is a major disconnect between the stellar drill results and the stock price performance. After an initial spike to $0.58 on the first drill results in early October, the stock has sold off aggressively, falling back to $0.27. This suggests significant profit-taking and, more critically, a potential overhang from the large financings completed in the summer. The 4-month hold periods on those placements are set to expire in late November and December 2025, and the market may be anticipating this supply of shares coming free.

While the fundamental value of the project has demonstrably increased with these drill results, the share price weakness in the face of good news is a significant red flag from a market dynamics perspective. The news is excellent for the project, but the impact on the stock price is currently being negated by technical and market factors.

NorthWest Copper is a Canadian mineral exploration company focused on its portfolio of copper and gold projects in British Columbia. Its flagship asset is the Kwanika-Stardust project, which hosts a large copper-gold porphyry deposit.

Following a change in leadership in late 2024, the company implemented a new strategy in 2025. The focus shifted from the large-scale, high-capex block cave scenario outlined in the 2023 Preliminary Economic Assessment (PEA) to a staged development approach. The current objective is to delineate higher-grade zones within the existing mineral resource that could support a more selective, lower-cost open pit and/or bulk underground mining operation as an initial phase, thereby enhancing the project's overall economics.