NorthWest Copper Announces Upsize of Best Efforts Private Placement to $12.0 Million

Press Release

TORONTO, April 23, 2026 – NorthWest Copper (“NorthWest” or the “Company”) (TSXV: NWST) is pleased to announce that it has amended its engagement with Stifel Nicolaus Canada Inc. (“Stifel Canada”), to act as sole bookrunner and co-lead agent with Canaccord Genuity Corp. (together with Stifel Canada, the “Agents”) in connection with a “best efforts” private placement offering that has been increased to aggregate proceeds of up to approximately $12.0 million (the “Offering”).

CEO Paul Olmsted stated, “the strong investor demand for this financing is a significant success for the Company. Demand for both the hard-dollar and flow-through components reflects confidence in our new strategic approach at Kwanika following the updated mineral resource released in March. This funding will support delivery of an updated Preliminary Economic Assessment (“PEA”) at the Kwanika-Stardust project, targeted for mid 2026, and fully fund planned exploration drilling aimed at upgrading and expanding the mineral resources. With work on the PEA well underway, we look forward to providing further updates as we advance Kwanika toward development”.

The Offering will consist of the following securities (“Offered Securities”):

• Hard dollar units (the “HD Units”) will be sold at a price of $0.35 per HD Unit, with a minimum total amount of $3 million,
• Charity flow-through units (the “CFT Units”) will be sold at a price of $0.515 per CFT Unit, and
• Flow-through units (the “FT Units”) will be sold at a price of $0.41 per FT Units.

The total number of HD Units, CFT Units and FT Units will be determined by the Agent based on investor demand. Each HD Unit, CFT Unit and FT Unit will consist of one common share (“Common Share”) of the Company and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.45 for a period of 24 months following closing of the Offering.

The Agents continue to maintain an option to sell up to an additional 15% of the aggregate amount of the Offered Securities (the “Agents’ Option”), on the same terms and conditions of the Offering. The Agents’ Option will be exercisable, in whole or in part to offer additional Hard Dollar Units, FT Units or Charity FT Units in any combination, at any time up until 48 hours prior to the closing of the Offering. Assuming approximately $13.8 million, including the full exercise of the Agents’ Option of approximately $1.8 million, is comprised of HD Units, the maximum number of Common Shares and Warrants that could be issued is 39,494,285 Common Shares and 19,747,142 Warrants.

The Offering is expected to close on or about May 14, 2026, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”) and the relevant securities regulatory authorities. The securities issued under the Offering will be subject to a hold period of four-months and one day from closing of the Offering.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About NorthWest Copper:

NorthWest is a copper-gold exploration and development company with a pipeline of advanced and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in an established mining jurisdiction, NorthWest is well positioned to participate fully in strengthening global copper and gold markets. The Company is committed to responsible mineral exploration, working collaboratively with First Nations to help ensure future development incorporates stewardship best practices and respects traditional land use. Additional information can be found on the Company’s website at www.northwestcopper.ca .

On Behalf of NorthWest Copper Corp.
“Paul Olmsted”
CEO, NorthWest Copper

For further information, please contact: 416-457-3333, info@northwestcopper.ca

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