American West Metals (AW1) Corporate presentation summary

Investment highlights

• Near-term open-pit copper producer in Canada with over 275Kt high-grade copper defined and a maiden reserve underway; PEA outlines ~$50m initial CAPEX for a 10-year mine with strong cash flow and low footprint process, with PFS nearing completion.

• Strategic alliance with Ocean Partners provides up to $40m in project finance and a 100% offtake agreement for copper and silver products, significantly de-risking project execution.

• District-scale opportunity with 100% control over a >110km copper belt, only 5% explored, and multiple high-grade copper and zinc targets identified for future expansion.

• West Desert project in Utah hosts a large JORC-compliant resource with significant indium, zinc, copper, silver, and gold, including the largest undeveloped indium resource in the US.

• Leadership team with a proven track record in discovery and mine development, including experience in building major mining companies and successful project execution.

Resource base and exploration potential

• Storm Copper Project MRE: 28.2Mt @ 1.0% Cu, 3.3g/t Ag, with resource extension drilling indicating potential to extend beyond the initial 10-year mine life.

• High-grade copper intersections at Storm, such as 22.9m @ 8.5% Cu, are not yet included in the mine schedule, offering further expansion potential.

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

• Seal Zinc Project inferred resource: 1Mt @ 10.2% Zn, 46.5g/t Ag, with mineralisation open at depth and along strike.

• Multiple copper and zinc targets identified along the copper belt, with ongoing exploration and drilling confirming significant upside.

Project development and processing

• PFS aims to build on PEA strengths, targeting a low-cost, high-margin copper project with industry-leading ore-sorting and beneficiation.

• Optimised process plant design features modular, low-footprint equipment and staged CAPEX, with average product grades of 15% Cu and 44g/t Ag.

• Additional fines processing circuit to increase metal recovery and copper output.

• Mine permitting is underway, supporting an aggressive development timeline.

• Strategic financing and offtake agreements support project funding and execution.