American West Metals (AW1) investor relations material

Asset portfolio and strategic focus

• Building a multi-asset platform in North America focused on copper and critical metals, with flagship projects in Utah (West Desert) and Nunavut, Canada (Storm Copper).

• West Desert hosts the largest undeveloped indium resource in the US, alongside significant zinc, copper, silver, and gold resources.

• Storm Copper Project is positioned as a near-term, low-cost open-pit copper producer with district-scale exploration upside.

• Both projects benefit from supportive government policies aimed at strengthening domestic critical mineral supply chains.

• Strategic alliances and funding agreements in place, including a US$40m finance and offtake deal for Storm.

Resource estimates and exploration highlights

• West Desert: 33.7Mt @ 20g/t In, 3.83% Zn, 0.15% Cu, 9.1g/t Ag, 0.1g/t Au, containing 23.8Moz indium, 1.3Mt zinc, 49Kt copper, 10Moz silver, and 119Koz gold.

• Storm Copper: 28.2Mt @ 0.98% Cu, 3.27g/t Ag, totaling 276,100t copper and 2.97Moz silver.

• Recent drilling at West Desert discovered a new mineralized zone with strong visual zinc and copper sulphides over 77m.

• Less than 10% of the West Desert mineral system has been explored, with multiple high-grade intersections and significant expansion potential.

• Storm Copper belt extends over 110km, with only 5% explored and multiple high-grade copper and zinc targets identified.

Project development and processing

• Storm Copper PEA outlines initial US$47.4m CAPEX for a high-grade open-pit mine, with simple, ESG-friendly ore sorting and beneficiation.

• Processing plan includes ramp-up from 850Kt to 1.25Mtpa, producing two copper products with no tailings or chemicals required.

• West Desert project is 100% owned, located on private land, and includes patented claims and control of the Fish Springs Mineral District.

• Fast-track recovery of critical metals from historical mine waste is being pursued under US government initiatives.

• Ongoing exploration and resource expansion programs are underway, with additional drill rigs and sampling of historical core.