New Copper System Confirmed At The Storm Project, Canada

American West Metals Limited (American West Metals or the Company) (ASX: AW1) is pleased to report that initial assay results from drill hole ST22-10 have confirmed a significant discovery at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada.

• Initial results from drill hole ST22-10 have confirmed sediment hosted copper and zinc sulphide mineralisation below the near-surface high-grade deposits at Storm
• The discovery drill hole is associated with a series of untested large and coincident geophysical anomalies identified across a zone that extends for more than 5km, indicating the potential for a large-scale sedimentary copper system at depth
• These results validate our geological model that interprets the extensive near-surface high- grade copper mineralisation at Storm to be associated with a much larger sedimentary copper deposit at depth
• Early observations suggest the deeper copper system at Storm is analogous to Central African copper deposit styles

“I am very pleased to be able to report that initial assays from drill hole ST22-10 confirm the presence of sediment hosted type copper and zinc sulphide mineralisation, with huge implications for the potential metal endowment of the project.

“These results demonstrate that – in addition to the near-surface high-grade copper deposits – we have a second type of copper deposit at Storm. This sedimentary copper mineralisation style is typically associated with very large deposits, such as the large-scale copper deposits in the Congo and the Kupferschiefer deposits in Central Europe.

“The discovery drill hole at Storm is associated with a series of large IP, EM and gravity anomalies that sit below or adjacent to the known high-grade copper prospects and major faults. These features occur across a zone more than 5,000m long, supporting the potential for a very large sedimentary copper system.

“This is a tremendous exploration opportunity and we are already planning follow-up exploration and drilling.

“Further assays from the Storm drill program are due soon and we look forward to reporting on these as they come in.”

NEW STYLE OF COPPER AND ZINC SULPHIDES CONFIRMED

Drill hole ST22-10 intersected a thick sequence of sulphide mineralisation hosted within carbonate sediments. The drill hole was targeting a large EM anomaly to the west, and deeper than the near surface high-grade 4100N Zone.

Approximately 68.8m of chalcopyrite, pyrite and sphalerite mineralisation was intersected from 277m downhole in drill hole ST22-10 (approx. 230m vertical depth). The mineralisation is interpreted to be stratabound and is hosted within a vuggy, bituminous and fossiliferous carbonate unit.

Visual observations of chalcopyrite and sphalerite in the drill core have now been confirmed by assays within the sampled intervals from ST22-10.

Of the sulphide mineralised zones, only portions containing clear and abundant chalcopyrite and sphalerite were sampled with the aim of confirming sediment hosted copper and zinc. Most of the pyrite-dominant zones were excluded from samples submitted for assay - see Table 1 for assay results and Figure 3 for a geological cross section of the drill hole. The results received confirm the presence of sediment hosted copper and zinc sulphide mineralisation, and have verified the discovery of this new style of mineralisation at Storm.

Geophysical properties logging of sections of the core as well as further sampling will be conducted on ST22-10 to refine the targeting model for follow-up drilling.

ST22-10 is the deepest drill hole completed at the Storm Project this season and highlights the outstanding exploration potential of the project area. Compilation of historical induced polarization (IP), gravity and electromagnetic (EM) data reveals a series of large anomalies that sit under, and adjacent to the known high- grade copper mineralisation and graben fault system.

The metal associations, zonation and geophysics suggest that the drill hole is potentially on the edge of a stronger mineral system.

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