American West Metals Ltd. · ASX:AW1
American West Metals — Investor Presentation (February 2026)
31 slides from American West Metals's investor presentation, Feb 19, 2026
Slide 1: Cu In Zn – February 2026
FEBRUARY 2026 Cu In Zn 29 49 30 Copper Indium Zinc ASX: AW1 | OTCQB: AWMLF | AMERICAN WEST METALS LIMITED | ACN 645 960 550
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation has been prepared and issued by American West Metals Limited (the Company or This presentation may include forward-looking statements. Forward-looking statements include, but are American West) to inform interested parties about the Company and its p
Slide 3: Cautionary Statement
Cautionary Statement The Preliminary Economic Analysis (PEA), or Scoping Study, referred to in this ASX release, full details of For full details of the Mineral Resource Estimate for the Storm Copper Project, including JORC Table 1, which were announced on 3 March 2025 has been undertaken for the pu
Slide 4: Investment Highlights
Investment Highlights BUILDING A MULTI-ASSET NORTH AMERICAN COPPER AND CRITICAL METAL PLATFORM West Desert, Utah – ‘All American’ Critical Metals Storm Copper, Canada – Near-term open-pit producer 4
Slide 5: West Desert Project
COPPER . GROWTH. SECTION 01 West Desert Project Drill core from WD22-01 from 1,785ft downhole
Slide 6: Strategic and Critical Metal Asset
Largest undeveloped 100% Outstanding Strategic and Critical Metal Asset Indium resource in US ownership infrastructure Fully permitted for open 160km from Salt Strategically important pit and exploration shaft Lake City with Large existing resource on private land source of Indium construction power
Slide 7: West Desert: Right Time, Right Place
US CRITICAL MINERAL POLICY TAILWINDS ACCELERATE PERMITTING AND FUNDING OPPORTUNITIES West Desert: Right Time, Right Place US Domestic Minerals Initiative: Reshoring Supply Chains Department of the Interior (DOI) Initiative: Unlocking critical (Executive Order) (20 March 2025) minerals from mine wast
Slide 8: Indium
Indium The largest known undeveloped indium resource in the US Indium is classified as a strategic and critical metal in the US The US is a 100% importer of indium, with most supply from China Indium is widely used in electronics, semiconductors and other high-tech industries – with significant resh
Slide 9: Gallium
Gallium Widespread gallium confirmed at West Desert; dedicated program underway China produces ~98% of primary gallium; US has no domestic primary output West Desert geology (CRD setting) is comparable to the Apex Gallium Mine, the US’s only primary gallium mine (closed 1937) – located 300km south i
Slide 10: Copper, Gold, Molybdenum and Gallium Targets
GROWTH POTENTIAL – LARGE PORPHYRY/SKARN SYSTEM WITH UNTESTED TARGETS Copper, Gold, Molybdenum and Gallium Targets Less than 10% of the large mineral system explored – geology is analogous to Bingham Canyon and Tintic New high-grade mineralised skarns discovered – West, East and below the current MRE
Slide 11: Storm Copper Project
COPPER . GROWTH. SECTION 02 Storm Copper Project
Slide 12: District-scale copper opportunity – near-term open-pit producer
INVESTMENT HIGHLIGHTS District-scale copper opportunity – near- term open-pit producer with exploration upside Simple, high-grade, low-cost US$40m funding and offtake copper operation deal de-risks execution PEA defines initial US$47.4m CAPEX Strategic Alliances secured with with open-pit resources
Slide 13: Compelling Economics and Near-Term Timeline
Compelling Economics and Near-Term Timeline PEA highlights a low cost start-up, rapid payback, and strong cash flow operation – PFS UNDERWAY Initial Capital of US$47.4m Comprising Mining & Site Infrastructure US$13.8m, Processing US$9.4m, Camp & Aerodrome US$3.7m, Construction US$11m, and Contingenc
Slide 14: Resource Update Delivers
Resource Update Delivers C O P P E R . 276Kt of copper / 3.0Moz of silver G R O W T H . 14
Slide 15: High-Quality Resources Underpin Development
INITIAL STORM OPEN PIT MINE PLAN Thick and continuous sediment- High-Quality Resources hosted copper deposits located at surface: Underpin Development 28.2Mt @ 1% Cu, 3.3g/t Ag Storm Copper Proposed Mining Development PEA production schedule Mine schedule includes Multiple shallow hub and spoke open
Slide 16: Simple, Efficient and ESG-Friendly Processing
Simple, Efficient and ESG-Friendly Processing Ore-sorting and beneficiation provides very low capital, very low risk processing solution with outstanding ESG credentials PEA processing production plan Year round, simple process to produce two products includes ramp up from 850Kt to 1.25Mtpa during y
Slide 17: Watch the flowsheet in action
Watch the flowsheet in action: https://youtu.be/R3BODBxr_oM METALS FOR THE CLEAN ENERGY FUTURE 17
Slide 18: Strategic Alliance provides up to US$40m finance – Ocean Partners
Strategic Alliance provides up to US$40m finance to develop Storm Offtake and Funding Agreement with Ocean Partners ALLIANCE AND DEAL STRUCTURE: Development of the Galmoy zinc-lead-silver 200,000tpa ore-sorting operation in Ireland, with products to be exported to Europe Private Placement is a globa
Slide 19: Genuine and Rare District Scale Opportunity
Genuine and Rare District Scale Opportunity TORNADO / BLIZZARD 100% control of regional scale copper belt – long life project Distance from Storm: ~10km Extensive geophysical and copper anomalies along the SE extension of the Storm Graben. Ground COPPER BELT geophysical surveys have highlighted EM a
Slide 20: Large-Scale Copper Targets
Large-Scale Copper Targets Exploration has continued to expand the copper footprint and highlight regional endowment potential New high-grade copper drill hits at Storm not yet included in MRE giving further resource growth potential, including: 22.9m @ 8.5% Cu (Cyclone) and 10m @ 1.2% Cu (Cyclone D
Slide 21: Corporate Overview
COPPER . GROWTH. SECTION 04 Corporate Overview
Slide 22: Board and Management Team
Board and DAN LOUGHER DAVE O’NEILL Management Team Non-Executive Chairman Managing Director Daniel Lougher is a highly regarded Founder of American West and a major mining executive with a distinguished shareholder. career of over 40 years’ experience. A geologist with over 20 years’ experience In h
Slide 23: Company Snapshot
Company Snapshot Key Metrics AW1 Share Price ASX Code : AW1 OTCQB: AWMLF 0.09 1,007m Shares on Issue 0.08 $0.052 Share Price1 Board / Management 0.07 Other 6% Cash on hand as at 31 Dec 2025 0.06 58% $6.77m Ocean Partners 0.05 8% Other Top 20 ~$52m Market Capitalisation1 0.04 12% HSBC Nominees 0.03 2
Slide 24: Appendix
COPPER . GROWTH. SECTION 05 Appendix
Slide 25: Nunavut in focus
Nunavut in focus 1 14 4 10 Global ranking for Project permits Years on average Past and new sediment hosted issued since 20001 to permit1 present mines copper districts 1 - Nunavut Impact Review Board database 2024 25
Slide 26: Geology and Resources
Deposit Category Mt Cu (%) Ag (g/t) Cu (Tonnes) Ag (Ounces) Geology and STORM Cyclone Indicated 12.4 1.10 3.82 136,500 1,527,000 Resources Inferred 4.5 0.95 3.94 43,300 575,000 Sediment hosted, stratabound copper sulphide deposit Indicated 1.0 1.62 3.82 16,900 127,800 Chinook Inferred 0.7 0.56 2.63
Slide 27: Geological Model – Storm
STORM Geological Model Large sediment-hosted copper sulphide system Widespread Surface Copper Multiple near surface high-grade copper deposits identified across 15km2 Deep Sulphide Discovery High-grade copper sulphides up to 3.7% Cu discovered at depth Outstanding growth with multiple geophysical an
Slide 28: Geological Model – West Desert
WEST DESERT Geological Model Large Porphyry-Skarn Mineral System Multiple Deposit Types in District - High-grade Zn+Cu+In+Au+Ag skarns - Zn+Pb+Ag replacement vein systems (mined circa 1900) - Mo+Cu+-Au porphyry - High-grade Mo vein system at depth (>4% Mo) - Skarn and APEX MINE style Ga potential Cr
Slide 29: Competent Persons Statement
Competent Person’s The Information in this Report that relates to the Preliminary Economic Analysis is based on information compiled by Jim Moore, who is a qualified Competent Statement mining engineer and a Chartered Professional member of the Australian Institute of Mining and Metallurgy. Mr Moore
Slide 30: Competent Persons Statement
Competent This Presentation contains information extracted from the following reports which are available on the Company’s website at Persons https://www.americanwestmetals.com/site/content/ https://www.americanwestmetals.com/site/content/ Statement 2022 ⃗ 2023 ⃗ 2024 ⃗ 2025/2026 26 April Assays Con
Slide 31: ASX: AW1 | OTCQB: AWMLF | AMERICAN WEST METALS LIMITED | ACN 645 960
ASX: AW1 | OTCQB: AWMLF | AMERICAN WEST METALS LIMITED | ACN 645 960 550
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