Assays Continue To Highlight Significant High-Grade Copper At The Storm Project, Canada

American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to provide an update on the diamond drilling program by the Company at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

• Diamond drilling continues to define near-surface high-grade copper at Storm, more than doubling the mineralised envelope and substantially enhancing the resource potential
• New significant intersections include:
  • 19m @ 2.08% Cu from 58m downhole, including;o 2m @ 15.98% Cu from 70m downhole (ST22-06)
  • 10m @ 2.36% Cu from 53m downhole, and;
  • 7m @ 1.08% Cu from 79m downhole (ST22-04)
  • 2m @ 1.81% Cu from 36m downhole, and;
  • 7m @ 1.00% Cu from 40m downhole, and;
  • 1m @ 5.75% Cu from 13m downhole (ST22-07)
• A high volume of near-surface high-grade copper at the 2750N Zone has now been confirmed with mineralisation open to the west along a 1km prospective strike length
• Potential to further define near-surface high-grade copper deposits with the drilling of the extensive 2200N and 4100N Zones where multiple intersections of massive copper sulphides have been discovered by historical drilling• Drill core samples from the 2022 program are being shipped to Perth for further beneficiation test work, to follow-up the initial test work that produced a Direct Shipping Ore product with a grade >53% Cu

Dave O’Neill, Managing Director of American West Metals commented:

“Our first drill program at Storm has been a huge success. In a relatively short program, we have intersected extremely high-grade copper near-surface and likely doubled the volume of mineralisation at the 2750N Zone, and discovered a potential large, new sedimentary copper system below the near- surface mineralisation.

“The latest assays for drilling at the 2750N Zone continue to highlight the potential for significant near- surface resources of copper with outstanding upside.

“Strong copper intersections to the west indicate that the zone is open and highly prospective in that direction.

“Outcropping mineralisation with up to 62% copper and surface geochemistry supports our assumptions that the zone has the potential to extend for over 1km to the west.

“The next drill program at Storm will look to define further resources at the 2750N Zone, and to evaluate the economic potential of other highly prospective near surface occurrences of high-grade copper such as the 2200N and 4100N Zones.

“We are excited about the commencement of the next phase of beneficiation test work, designed to confirm the commercial potential of the high-grade Storm copper. Samples of drill core from this year’s program are on the way to Perth, Western Australia, for test work that will aim to define a definitive flowsheet for a potential Direct Shipping Ore mining operation.

“We look forward to reporting on the outcomes of the planning and test work.”

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