NORTHWEST COPPER ANNOUNCES UPSIZE OF BEST EFFORTS PRIVATE PLACEMENT TO $12.0 MILLION

• NorthWest Copper has upsized its best efforts private placement offering from an initial target of $10 million to a total of approximately $12.0 million CAD.
• The financing is structured with three unit types: Hard Dollar (HD) at $0.35, Charity Flow-Through (CFT) at $0.515, and Flow-Through (FT) at $0.41 per unit.
• Proceeds are designated to fund an updated Preliminary Economic Assessment (PEA) for the Kwanika-Stardust project targeted for mid-2026 and fully fund planned exploration drilling.
• Each unit includes one-half of a common share purchase warrant exercisable at $0.45 for 24 months following closing.
• The offering is expected to close on or about May 14, 2026, with an agents' option to sell up to an additional 15% of the aggregate amount.
• CEO Paul Olmsted cited strong investor demand and confidence in the updated mineral resource released in March as drivers for the upsizing.

• Capital Efficiency vs. Dilution: The $12 million raise represents approximately 12% of the company's current market capitalization ($101M). While this secures critical runway for the PEA, it introduces significant dilution risk given the history of frequent financings throughout 2025 and early 2026.
• Pricing Dynamics: The Hard Dollar units are priced at $0.35, which matches the current market price ($0.35 as of April 22, 2026). This indicates no immediate discount to the market but also suggests limited upside premium for existing shareholders on this tranche. Flow-Through units command a premium ($0.41-$0.515), reflecting tax benefits for investors.
• Milestone Validation: The upsizing confirms that institutional and retail demand remains sufficient to fund the next major technical milestone (the PEA). This reduces the risk of project stagnation due to cash constraints in the immediate term.
• Contextual Consistency: This news follows a trajectory established on April 13 ($10M target) and April 20 (indicative orders >$10M). The market has already priced in this financing event, making the final upsizing incremental rather than transformative.

• Company: NorthWest Copper Corp. (TSX-V: NWST).
• Flagship Project: Kwanika-Stardust in British Columbia, Canada.
• Strategy: Capital-efficient development focusing on upgrading mineral resources to support a combined open-pit and underground mining plan.
• Key Assets:
  • Kwanika Central: Updated resource of 45.19 Mt containing 534 Mlb Cu, 972 koz Au, and 2,428 koz Ag (March 2026 update).
  • Stardust: Satellite deposit with high-grade underground resources (1.6 Mt @ 1.49% Cu indicated).
  • Lorraine-Top Cat: Copper-gold project in resource expansion stage.
• Technology: Utilizing sensor-based ore sorting and fine grinding to improve recoveries (Gold ~95%, Copper ~90%) compared to the 2023 PEA baseline.