Update on drilling and exploration activities at the Storm Project

American West Metals Limited (ASX: $AW1) is pleased to provide an update on drilling and exploration activities at the Storm Copper Project (Storm or the Project) on Somerset Island, Nunavut, Canada. The 2024 summer drilling program has accelerated with more than 4,450m now completed, targeting resource upgrade and extensions at the Cyclone and Chinook Deposits, and resource definition/exploration at Lightning Ridge and Thunder Prospects. Visual results have confirmed a 100% hit rate for copper sulphides in the recent drilling, demonstrating the excellent consistency of copper mineralisation.

Executive Commentary on Drilling Program

Dave O'Neill, Managing Director of American West Metals, expressed satisfaction with the progress of the Storm drilling program, highlighting the exceptional productivity of the Reverse Circulation (RC) drilling rigs. He emphasized the success rate achieved during last year's drilling program, demonstrating the excellent consistency of copper mineralisation. O'Neill also noted the confirmation of the continuity and growth potential of the resource at the Cyclone Deposit, with every drill hole intersecting thick intervals of visual copper sulphides. He further highlighted the significant potential to convert the 2023 discoveries into resources, contributing to the rapid growth of the copper endowment of Storm. O'Neill assured stakeholders of regular updates as the drilling program and other exploration activities progress.

Summary of Drilling Update

The 2024 summer drilling program at the Storm Project has gained strong momentum, with more than 4,450m and 30 drill holes completed, targeting resource upgrade and extensions at the Cyclone and Chinook Deposits, and resource definition/exploration at Lightning Ridge and Thunder Prospects. Visual results have confirmed a 100% hit rate for copper sulphides, highlighting the excellent consistency of copper mineralisation. The drilling has successfully extended the envelope of the known copper mineralisation at Lightning Ridge and confirmed the geometry of the high-grade copper zones. The program is on track to complete the planned 20,000m of drilling, with a focus on converting existing inferred resources to the indicated category and expanding the resource at the Cyclone Deposit. The company aims to continue providing regular updates as the drilling program and other exploration activities progress.