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NorthWest Closes Second Tranche of Flow Through Financing and Completes Hard Dollar Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. ("NorthWest" or "the Company") (TSXV:NWST) is pleased to announce that further to its press releases of July 16, 2025 and July 29, 2025, the Company has closed the second tranche of its upsized non-brokered critical mineral flow through private placement financing ("FT Offering"). When combined with the first tranche of the FT Offering, the Company has now closed on $3.2 million out of the $3.5 million upsized FT Offering. The Company also had excess demand on the hard dollar component ("HD Offering") of the private placement announced on July 29, 2025, and completed the HD Offering for gross proceeds of $0.475 million.

CEO Paul Olmsted stated, "The continued excess demand under both the FT Offering and HD Offering has been encouraging and has set the Company up to execute on its planned exploration drilling program and metallurgical test work program at Kwanika for 2025. With the upsized financing, we are considering options to bring forward some of the drilling originally planned for 2026. The current program is expected to confirm and expand our higher-grade target model and improve recoveries, particularly for gold."

The Company closed the second tranche of the FT Offering for subscriptions of 2,917,666 units (each a "FT Unit") at a price of $0.225 per FT Unit for gross proceeds of $0.65 million. Each FT Unit consists of one flow through common share of the Company (each a "FT Share") and one half of one non-transferable common share purchase warrant (each whole warrant being a "FT Warrant") with each FT Warrant exercisable to purchase one additional common share of the Company at an exercise price of $0.34 until August 8, 2027. Proceeds of the FT Offering will be used for exploration at Kwanika Central and the nearby Transfer Target.

The Company closed the HD Offering for subscriptions of 2,375,000 units (each a "HD Unit") at a price of $0.20 per HD Unit for gross proceeds of $0.475 million. Each HD Unit consists of one common share of the Company (each a "HD Share") and one half of one non-transferable common share purchase warrant (each whole warrant being a "HD Warrant") with each HD Warrant exercisable to purchase one additional common share of the Company at an exercise price of $0.30 until August 8, 2027. Proceeds of the HD Offering will be used for general corporate purposes.

The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the FT Shares ...