61.9 Metres of 0.37% Copper and 0.58 g/t Gold (1.01% CuEq) at Kwanika in North Pit Extension Zone From 39 Metres

Northwest Copper Corp. (NWST) has released additional 2026 drill results from the North Pit Extension Zone at its 100% owned Kwanika Cu-Au project in British Columbia. The latest release covers seven holes on section 6156450N, part of a broader 43-hole, 12,291 m program. To date, 24 of the 43 holes have reported results.

The company states that the results extend interpreted higher-grade Unit 10 mineralization approximately 50 m north, confirm multiple near-surface parallel intervals, and identify wide lower-grade mineralization at depth. No cutoff grade is disclosed. The copper equivalent (CuEq) assumptions used are US$3,100/oz Au, US$4.50/lb Cu, US$36/oz Ag, and US$1,100/oz Pd, with recoveries of 96% for Au, 90% for Cu, 96% for Ag, and 0% for Pd.

Key intercepts from the latest release include:

• K-26-296: 61.9 m @ 0.37% Cu, 0.58 g/t Au, 1.55 g/t Ag, 0.03 g/t Pd (1.01% CuEq) from 39.0 m, estimated true width 54.7 m; including 34.5 m @ 0.49% Cu, 0.88 g/t Au, 1.85 g/t Ag, 0.04 g/t Pd (1.46% CuEq) from 42.0 m, estimated true width 30.5 m. Also 5.5 m @ 0.34% Cu, 0.23 g/t Au (0.60% CuEq) from 135.5 m.
• K-26-302: 20.0 m @ 0.29% Cu, 1.18 g/t Au, 1.15 g/t Ag, 0.02 g/t Pd (1.57% CuEq) from 211.0 m, estimated true width 18.1 m. Other intervals: 10.3 m @ 0.46% Cu, 0.27 g/t Au (0.77% CuEq) from 92.0 m; 8.8 m @ 0.21% Cu, 0.65 g/t Au (0.92% CuEq) from 133.8 m; 30.3 m @ 0.11% Cu, 0.49 g/t Au (0.64% CuEq) from 152.1 m; 8.3 m @ 0.21% Cu, 0.45 g/t Au (0.69% CuEq) from 190.4 m.
• K-26-343: 102.0 m @ 0.31% Cu, 0.27 g/t Au, 0.29 g/t Ag, 0.01 g/t Pd (0.60% CuEq) from 209.0 m, estimated true width 83.5 m; including 5.9 m @ 0.62% Cu, 0.56 g/t Au (1.22% CuEq) from 222.1 m; 20.5 m @ 0.37% Cu, 0.36 g/t Au (0.76% CuEq) from 274.5 m; 7.5 m @ 0.30% Cu, 0.52 g/t Au (0.86% CuEq) from 303.5 m.
• K-26-305: 14.0 m @ 0.63% Cu, 0.15 g/t Au (0.81% CuEq) from 102.0 m; 4.0 m @ 0.70% Cu, 0.57 g/t Au (1.33% CuEq) from 43.0 m.
• K-26-337: 36.0 m @ 0.30% Cu, 0.24 g/t Au (0.56% CuEq) from 184.0 m; including 8.3 m @ 0.35% Cu, 0.31 g/t Au (0.69% CuEq) from 210.0 m.
• K-26-347: 12.0 m @ 0.33% Cu, 0.20 g/t Au (0.56% CuEq) from 152.0 m; 6.0 m @ 0.33% Cu, 0.13 g/t Au (0.48% CuEq) from 99.0 m; 5.0 m @ 0.27% Cu, 0.16 g/t Au (0.45% CuEq) from 111.0 m; 4.1 m @ 0.10% Cu, 0.54 g/t Au (0.68% CuEq) from 78.0 m. K-26-347A was abandoned at 45 m due to drilling performance and re-drilled as K-26-347.

Northwest Copper Corp. (NWST) is an explorer and developer with no revenue, a going-concern warning, and a reliance on equity financing. Prior-period context not disclosed in today’s release indicates cash of about C$10.4M at June 30, 2026, working capital of about C$8.5M, and no debt. The company is funded for the current program but not for development.

The existing Kwanika Central resource is about 45.19 Mt containing 534 Mlb Cu and 972 koz Au, comprising 16.22 Mt indicated @ 0.63% Cu, 0.74 g/t Au, 2.0 g/t Ag, and 28.97 Mt inferred @ 0.48% Cu, 0.63 g/t Au, 1.5 g/t Ag. The release does not update that resource. It adds local infill and extension evidence that may support later open-pit resource expansion or classification upgrading, but the tonnage and grade impact is not quantified.

At C$0.23 and about 298.3M basic shares, the market cap is roughly C$68.6M. The equity is pricing a large optionality package rather than a single hole. That valuation is small relative to a development-stage Cu-Au project but not a micro-cap that re-rates on a 50 m infill extension alone.

The stock has fallen from C$0.47 in March 2026 to C$0.23 and sits at its 52-week low. The best prior Kwanika holes were much higher grade, but the market is not currently embedding repetition of the 110 m @ 1.86% CuEq or 108.7 m @ 2.53% CuEq results. Against that low bar, a solid North Pit Extension infill result is a modest positive, not a negative surprise.

The result does not change the PEA, the resource estimate, mine life, or NAV on its own.

Northwest Copper Corp. (TSXV: NWST) is a copper-gold explorer and developer with a land position spanning more than 170,000 hectares in British Columbia. The company holds 100% ownership of projects in the Omineca district, including Kwanika-Stardust, Lorraine-Top Cat, and East Niv.

The Kwanika Central deposit contains an indicated resource of 16.22 million tonnes grading 0.63% copper, 0.74 grams per tonne gold, and 2.0 grams per tonne silver, equating to 1.27% copper equivalent. An inferred resource of 28.97 million tonnes grades 0.48% copper, 0.63 grams per tonne gold, and 1.5 grams per tonne silver, equating to 1.05% copper equivalent. These resources contain 534 million pounds of copper, 972,000 ounces of gold, and 2,428,000 ounces of silver. No reserves have been disclosed.

The Stardust deposit features an indicated resource of 1.60 million tonnes grading 1.49% copper, 1.63 grams per tonne gold, and 30.1 grams per tonne silver, alongside an inferred resource of 4.10 million tonnes grading 1.00% copper, 1.38 grams per tonne gold, and 22.8 grams per tonne silver. The Lorraine deposit holds an indicated resource of 13.0 million tonnes grading 0.55% copper and 0.16 grams per tonne gold, and an inferred resource of 45.5 million tonnes grading 0.43% copper and 0.10 grams per tonne gold.

Combined, the Kwanika-Stardust and Lorraine properties comprise approximately 30.8 million tonnes of indicated resources grading 0.64% copper, 0.54 grams per tonne gold, and 2.6 grams per tonne silver. The inferred resource totals 104 million tonnes grading 0.43% copper, 0.29 grams per tonne gold, and 1.7 grams per tonne silver.

An updated preliminary economic assessment for Kwanika-Stardust is underway, evaluating a combined open-pit and underground mining plan utilizing top-down sub-level caving. Prior metallurgical testing supports recoveries of 89.6% for copper, 95.5% for gold, and 96.3% for silver at Kwanika Central. Economic metrics from the assessment have not been disclosed.

As of June 30, 2026, the company held C$10.4 million in cash and approximately C$8.5 million in working capital, with no debt. The company faces going-concern uncertainty. There are approximately 298.3 million basic shares outstanding, 331.2 million fully diluted shares, 30.5 million warrants, and 2.4 million options and restricted share units.