NorthWest Reports Exploration Target Drill Results Highlighting Expansion Potential at Andesite Breccia

The news release dated January 16, 2026, marks the final report of the 2025 exploration program at the Kwanika project. The company reported drill results from the Andesite Breccia and Transfer targets. Hole K-25-279 intersected 43.6 metres of copper-dominant mineralization, expanding the Andesite Breccia zone 90 metres southeast and identifying a three-dimensional mineralized zone that remains open. However, holes K-25-285 and K-25-288 at the Transfer Target returned no significant assay values. The company is now integrating all 2025 data into a geological model to support an updated Mineral Resource Estimate (MRE) expected in Q1 2026, followed by a Preliminary Economic Assessment (PEA) in mid-2026.

The impact of this specific release is low to moderate. While it confirms the expansion of a secondary target (Andesite Breccia), the results are "incremental" compared to the high-grade intercepts reported in late 2025 (e.g., 2.09% CuEq and 3.01% CuEq). - Resource Confidence: The "Routine - Positive" rating reflects the successful completion of the field season without major technical failures, though the "no significant assays" in two holes serves as a reminder of the inherent risks in step-out exploration. - Strategic Continuity: The news confirms that management is sticking to the "Higher-Grade Target Model" timeline. The real material impact will come from the Q1 2026 resource update, which must prove that these high-grade "subdomains" have sufficient tonnage to support the proposed selective underground mining method. - Operational Progress: The company successfully transitioned from a bulk-tonnage block cave concept (2023 PEA) to a selective high-grade model, which is a significant strategic shift intended to lower initial capital intensity.

NorthWest Copper is focused on the Kwanika-Stardust project in British Columbia. Kwanika is a copper-gold porphyry deposit, while Stardust is a high-grade carbonate replacement deposit (CRD). The 2025 strategy shifted focus to identifying higher-grade "Target Models" within Kwanika (Pit, Central, and Western zones) to move away from the high-CapEx block cave mining method toward a more selective, capital-efficient underground and open-pit operation.