American West Metals (AW1) Investor presentation summary

Project portfolio and resource base

• Controls over 2,200 km² of highly prospective copper belt in Nunavut, Canada, with district-scale potential and only 5% explored by drilling.

• Storm Copper Project hosts 28.2Mt @ 1.0% Cu, 3.3g/t Ag, with a total copper resource of 276,100 tonnes and a maiden reserve underway.

• West Desert Project in Utah contains 33.7Mt @ 3.83% Zn, 0.15% Cu, 20g/t In, 9.1g/t Ag, and 0.1g/t Au, making it the largest undeveloped indium resource in the US.

• Aggregate contained copper across Storm and West Desert is approximately 325,000 tonnes, with significant zinc, indium, silver, and gold resources.

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

Project development and economics

• PEA for Storm Copper Project outlines a 10-year open-pit mine with initial CAPEX of ~$50m and strong cash flow; PFS is near completion and aims to further optimise economics.

• Strategic alliance with Ocean Partners provides up to $40m in project finance and an offtake agreement for copper and silver products.

• Modular, low-footprint processing plant design uses ore-sorting, jigs, and flotation to produce a 15% Cu, 44g/t Ag product.

• Mine permitting is underway, and the project is located in an established mining jurisdiction with year-round operations.

• Funding of $80m is likely required over the mine life, with options for joint ventures or asset sales to realise value.

Exploration and growth potential

• Multiple high-grade copper intersections at Storm, including 22.9m @ 8.5% Cu and 8.0m @ 5.5% Cu, indicate significant expansion potential.

• West Desert drilling in 2026 intersected 105m @ 25g/t In, with less than 10% of the mineral system explored.

• Numerous untested geophysical and geochemical anomalies across both projects suggest further resource growth.

• High-grade copper, zinc, indium, and molybdenum mineralisation confirmed outside current resource boundaries.

• Skarn and porphyry targets at West Desert offer additional upside, with multiple new targets defined by geophysics and drilling.