American West Metals Ltd. · ASX:AW1
American West Metals — Investor Presentation (November 2026)
29 slides from American West Metals's investor presentation, Nov 10, 2026
Slide 1: Zurich Presentation
rsonal use only November 2026 Zurich Presentation Cu In Zn 29 49 30 325,000t* 23,763,000oz* 1,290,000t* Copper Indium Zinc Copper Indium Zinc ASX: AW1 | OTCQB: AWMLF | 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 Pre-Feasibility Study (PFS) referred to in this presentation, full details of which were announced on 5 Foreign and historical resources: November 2026, comprises a Production Target and forecast financial information for the Storm Copper rsonal use only Project. The PFS is
Slide 4: Investment Highlights
Investment Highlights BUILDING A NORTH AMERICAN COPPER AND CRITICAL rsonal use only METAL PLATFORM Storm Copper, Canada – Foundational mine to fund growth West Desert, Utah – ‘All American’ Critical Metals 4
Slide 5: Storm Copper Project
COPPER . GROWTH. rsonal use only SECTION 01 Storm Copper Project NUNAVUT, CANADA Drill core from SM24-03 from approx. 94m downhole
Slide 6: Storm: A Foundational Mine That Unlocks Growth
Storm: A Foundational Mine That Unlocks Growth Self-funded organic growth, with no reliance on a major to unlock the regional-scale copper belt rsonal use only PHASE 1 PHASE 2 PHASE 3 Foundation mine Grow the Reserve Unlock the belt 11-year mine life, 100% Probable Ore 4 of 7 deposits in the maiden
Slide 7: Storm PFS: A Robust, Low-Capital Copper Mine
Storm PFS: A Robust, Low-Capital Copper Mine Pre-Feasibility Study confirms a high-margin operation underpinned 100% by Probable Ore Reserves rsonal use only PRODUCTION PROFILE • 1.3Mtpa peak processing capacity 11 years US$81.0M 15% Cu • Up to 14,000tpa copper, Mine life Initial capital Cu Product
Slide 8: Maiden Ore Reserve: 151kt Contained Copper
Maiden Ore Reserve: 151kt Contained Copper 12.58Mt @ 1.20% Cu, 3.71g/t Ag across four deposits, classified Probable (JORC 2012) rsonal use only Deposit Tonnes (Mt) Cu (%) Ag (g/t) Cu (t) Ag (koz) Cyclone 9.74 1.17 3.99 114,004 1,250 Chinook 1.06 1.49 3.32 15,851 114 Corona 0.77 1.06 2.94 8,173 73 Th
Slide 9: Mine Plan: High-Grade Start, Staged Development
Mine Plan: High-Grade Start, Staged Development Conventional open pits across four deposits with year-round mining and processing rsonal use only • Chinook and Corona first: high-grade, outcropping ore while waste is STORM MINING and PROCESSING pre-stripped from the flat-lying deposits Mining Tonnes
Slide 10: PFS Processing — Ore Sorting, Jigs and Fines Flotation
PFS Processing — Ore Sorting, Jigs and Fines Flotation PROVEN TECHNOLOGY, LOW-FOOTPRINT PROCESSING SOLUTION rsonal use only Ore sorting and gravity beneficiation are the key processes, with a small fines flotation circuit Staged plant design: US$81.0M initial capital, 1.3Mtpa peak capacity p Small f
Slide 11: Strong Economics with Low Capital Intensity
Strong Economics with Low Capital Intensity US$81.0M initial capital, with expansion capital funded from operating cash flow rsonal use only Capital (US$M) Pre-dev Initial Expansion LOM Financial summary (100% equity) US$M Mining and Civil Infrastructure 12.7 4.6 – 17.3 LOM revenue 1,254.5 Post-tax
Slide 12: Development Pathway to First Copper in 2030
Development Pathway to First Copper in 2030 Permitting, engineering and funding run in parallel to a final investment decision in early 2028 rsonal use only 2027 2028 2029 2030 PROJECT ACTIVITIES Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Exploration & Resource Grade Control Resource Update Pre
Slide 13: Strategic Alliance and Offtake Agreement with Ocean Partners
Strategic Alliance provides up to US$40m finance and Offtake Agreement with Ocean Partners rsonal use only 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 global metal O
Slide 14: Storm Exploration Target: Outstanding Growth Potential
Storm Exploration Target: Outstanding Growth Potential 650Kt to 2.2Mt of copper metal potential rsonal use only Exploration Target Lower Upper Tonnage (Mt) 108.7 214.0 Grade (% Cu) 0.59 1.02 Contained copper (Mt) 0.646 2.19 Key points • Drilling, geophysics and geochemistry used for modelling • Seve
Slide 15: Growth Pipeline: Near-Mine and Regional Targets
Growth Pipeline: Near-Mine and Regional Targets Storm sits within a >110km copper belt that remains largely untested by drilling rsonal use only NEAR-MINE: EXTEND THE MINE LIFE • Inferred deposits: Lightning Ridge, Cirrus and Gap to be drilled to upgrade Resource • Cyclone Deeps: stacked mineral sys
Slide 16: West Desert Project
COPPER . GROWTH. rsonal use only SECTION 01 West Desert Project UTAH, USA
Slide 17: West Desert: Strategic and Critical Metal Asset
Largest undeveloped 100% Presidential Strategic and Critical Metal Asset Indium resource in the US ownership Orders Fully permitted for open US defence contractors Strategically important pit and exploration shaft required to source indium Large existing resource on private land source of Indium con
Slide 18: Exceptional Exploration Potential
EXCEPTIONAL EXPLORATION POTENTIAL Geophysics and Drilling Define Multiple New Targets rsonal use only Less than 10% of the large porphyry/skarn mineral system explored West Desert “lookalikes” – multiple magnetic and gravity geophysical anomalies identified in project area and drilling has confirmed
Slide 19: Indium
Indium West Desert – The Largest Known Undeveloped Indium Resource in the US rsonal use only Very high-value commodity, and rising – +US850/kg The large and unique indium Indium is classified as a strategic and critical metal in the US endowment at West Desert is without parallel in the US. West Des
Slide 20: Corporate Overview
COPPER . GROWTH. rsonal use only SECTION 04 Corporate Overview
Slide 21: 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. rsonal use only career of over 40 years’ experience. A geologist with over 20 years’
Slide 22: Company Snapshot
Company Snapshot Key Metrics rsonal use only AW1 Share Price ASX Code : AW1 OTCQB: AWMLF 1,229m Shares on Issue $0.030 Share Price1 Board / Management Other 4% 56% Cash on hand as at 30 Sept 2026 Ocean Partners $5.45m 6% HSBC Nominees ~$37m Market Capitalisation1 Other Top 20 12% 1% Citicorp Nominee
Slide 23: Appendix
COPPER . GROWTH. rsonal use only SECTION 05 Appendix
Slide 24: 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 25: Storm Geological Model
STORM Geological Model rsonal use only Large, stacked, 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 wi
Slide 26: West Desert Geological Model
WEST DESERT Geological Model rsonal use only 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
Slide 27: Competent Person's Statement - Pre-Feasibility Study and Ore Reserve
Competent Person’s The information in this presentation that relates to the Pre-Feasibility Study (including the Production Target and forecast financial information) and to Ore Reserves is based on, and fairly represents, information and supporting documentation compiled by Mr Jim Moore, who is a q
Slide 28: 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 rsonal use only 2022 ⃗ 2023 ⃗ 2024 ⃗ 2025/2026 26
Slide 29: Contact
rsonal use only DAVE O’NEILL DANNIKA WARBURTON Managing Director Investor & Media Relations +61 457 598 993 +61 401 094 261 doneill@aw1group.com dannika@investability.com.au ASX: AW1 | OTCQB: AWMLF | AMERICAN WEST METALS LIMITED | ACN 645 960 550
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