Northwest Copper Corp. · TSXV:NWST
Northwest Copper — Investor Presentation (September 2026)
28 slides from Northwest Copper's investor presentation, September 2026
Slide 1: Copper and Gold in a Top Mining Jurisdiction
Copper and Gold in a Top Mining Jurisdiction Exploration and Development in British Columbia Sept 2026 TSXV - NWST
Slide 2: Forward-Looking Statements
Forward-Looking Statements This Presentation has been prepared by NorthWest Copper Corp. (“NorthWest Copper” or the “Company”) solely for the use in the required under applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the Presen
Slide 3: Copper-Gold Mine Development in BC
Copper-Gold Mine Development in BC TSX-V: NWST Sept 2026 Strong Management, Focused Three Foundational Assets in a Catalyst Rich, Undervalued on Shareholder Returns World Cass Jurisdiction Compared to Peers Corporate Presentation TSXV: NWST >175,000 ha British Columbia 3 core projects Public listing
Slide 4: Reasons to Buy Now
Reasons to Buy .… Now TSX-V: NWST • Updated Kwanika-Stardust PEA in progress with goal for higher- margin, more efficient capital project and pathway for improvement Upcoming Catalysts • 12,000 m drill program underway Sept 2026 • Kwanika and Lorraine are target rich projects with resource Resource
Slide 5: Multiple Copper-Gold Projects in British Columbia
Multiple Copper-Gold Projects in British Columbia Core Projects (100% Owned) TSX-V: NWST • Kwanika-Stardust • Advanced Cu-Au Exploration project • Updated PEA – in progress • 2026 Exploration program planned • Lorraine-Top Cat Sept 2026 • 2022 Open Pit Mineral Resource Estimate • Resource open in mu
Slide 6: Investment Highlights
Investment Highlights • Significant combined Cu, Au, Ag Mineral Resources1,2 in British Columbia TSX-V: NWST Copper Gold Silver 0.4 B lbs Indicated 0.5 M ozs Indicated 2.6 M ozs Indicated 1.0 B lbs Inferred 1.0 M ozs Inferred 5.8 M ozs Inferred • Re-envisioning Kwanika-Stardust Project in Updated PE
Slide 7: Kwanika-Stardust Project–Flagship Asset
Kwanika-Stardust Project–Flagship Asset Accessibility & Infrastructure TSX-V: NWST • All-season forest road access • Power at Babine Sub Station • Rail access at Mackenzie and Fort St. James Large Land Position • 37,500+ ha • 100% owned - royalty and stream free Regional Geology Sept 2026 • Pinchi F
Slide 8: Management Vision at Kwanika-Stardust
Management Vision at Kwanika-Stardust Targeting higher-grade, higher-margin and more capital efficient copper-gold project TSX-V: NWST Opportunity to deliver improvements to economics in updated PEA relative to previous PEA Enhancing ability to finance project through to development Sept 2026 ✓ Deli
Slide 9: Kwanika Central: Mineral Resource – Feb 27, 2026
Kwanika Central: Mineral Resource – Feb 27, 2026 Updated Mineral Resource at Kwanika Central deposit constrained by open pit and top-down TSX-V: NWST sub-level caving mining shapes Area and Classification1 Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) CuEq (%)2 Cu (Mlbs) Au (kozs) Ag (kozs) Kwanika Open Pit
Slide 10: Kwanika Central Deposit: Open Pit and Underground
Kwanika Central Deposit: Open Pit and Underground B Kwanika Central Deposit - Looking Northwest TSX-V: NWST A’ Sept 2026 CuEq (%) A B’ >2.0 >1.5 Corporate Presentation Re-modelling the deposit: >1.25 • 16 discrete and continuous zones >1.0 • >0.7 g/t Au higher-grade zones >0.75 • >0.7% CuEq higher-g
Slide 11: Kwanika Central Deposit: Open Pit and Underground
Kwanika Central Deposit: Open Pit and Underground Mineral Resource Mining Shapes TSX-V: NWST Reasonable Prospects of Eventual Economic Extraction (RPEEE) Kwanika Central Deposit - Looking East Optimized Open Pit Shell: • High-grade potential to support Sept 2026 starter pit CuEq (%) Optimized Sub-Le
Slide 12: Kwanika Processing - Metallurgical Recovery Improvements
Kwanika Processing - Metallurgical Recovery Improvements Fine grinding plus tails leaching materially enhances recoveries TSX-V: NWST Concentrate Leach Metal Total Recovery Recovery(1) Recovery Copper 88.9%-90.2% - 89.9%-90.2% Gold 75.4%-77.1% 19.2% 94.6%-96.3% Feed Process Flowsheet Schematic Sept
Slide 13: Kwanika Exploration – Target Rich
Kwanika Exploration – Target Rich TSX-V: NWST Exploration Targets: 1. Western Zone Infill/Extension (Deep) – 7,000 m To infill, enhance and expand known higher grade zones 4 2. Down Plunge Central/Pit Zone (Deep) – 1,500 m To expand open zones identified from 2025 drilling 5 Sept 2026 3. Pit Zone No
Slide 14: Stardust – Satellite Deposit to Kwanika
Stardust – Satellite Deposit to Kwanika Stardust Mine Design being reviewed as part of updated PEA TSX-V: NWST Stardust Mine Design: • 7 km from Kwanika • Potential source of high-grade mill feed • Update commodity and cost assumptions Sept 2026 • Optimize development • Valley access alternative • E
Slide 15: Kwanika Central - Comparable to New Afton
Kwanika Central - Comparable to New Afton New Afton provides a potential benchmark for the long-term development trajectory at Kwanika-Stardust TSX-V: NWST • Geology: Similar alkalic porphyry system with comparable Cu-Au-Ag deposit style • Mining: Open pit followed by underground bulk mining method
Slide 16: Kwanika – Activities and Catalysts
Kwanika – Activities and Catalysts Delivered on commitments: Near-term catalysts: TSX-V: NWST • 2025 Drill program execution • Updated PEA in progress • Positive metallurgical results • Drill results from 2026, ~10,000 metre program • Updated mineral resource • Updated mineral resource to support co
Slide 17: Lorraine-Top Cat Resource Expansion Stage Project
Lorraine-Top Cat Resource Expansion Stage Project Mineral Resource Stage Project: TSX-V: NWST • 100% owned • 2.25% NSR royalty with buyback to 1.25% NSR Large & Prospective Land Position • 65,800+ ha • 32 defined exploration targets Sept 2026 • 10 targets proximal to the Lorraine deposit with severa
Slide 18: East Niv: Cu-Au Discovery with High Exploration Potential
Discovery Stage Project East Niv: Cu-Au Discovery with High Exploration Potential Recent Cu-Au Porphyry Discovery, Early Stage TSX-V: NWST • First holes drilled in 2021 • Only 7,706 m drilled along northeast edge of one system • High potential porphyry opportunity with significant untested explorati
Slide 19: Omineca Cu-Au Porphyry Projects
Omineca Cu-Au Porphyry Projects Earlier stage Exploration Projects in a High Potential Region Portfolio provides district-scale opportunity with TSX-V: NWST multiple opportunities for value creation through exploration success, partnership or spinoff Omineca Cu-Au Porphyry NorthWest Projects: • East
Slide 20: Capital Structure & Cash
Capital Structure & Cash Major Shareholder 10% Basic Shares O/S 296.2 M TSX-V: NWST TSX-V: NWST Institutions Warrants 35.6 M Market Cap (as at May/26) $101 M 9% Options/RSUs 4.2 M Teck Fully Diluted Shares O/S 336.0 M 52-week High $0.58 Retail 2% 52-week Low $0.14 77% Net cash from May 2026 financin
Slide 21: Peer Group Analysis
Peer Group Analysis Mkt Cap per lb CuEq – Value Rerating Potential TSX-V: NWST NWST trading at C$0.02/lb CuEq vs Peers at C$0.12/lb • Potential valuation gap with NWST well below peer group average Sept 2026 • 6x re-rating opportunity to trade in line with peer average Peer Average Corporate Present
Slide 22: Reasons to Invest
Reasons to Invest TSX-V: NWST 1. Re-rate potential on multiple fronts with upcoming key catalysts 2. Fully funded to deliver on 2026 technical and exploration plans at Kwanika and Lorraine Sept 2026 3. Target rich properties with opportunity for resource expansion and discovery 4. Discovery potentia
Slide 23: TSX-V: NWST
info@northwestcopper.ca +1 416 457 3333 northwestcopper.ca 23 TSX-V: NWST
Slide 24: Appendix
NorthWestce APPENDIX TSX-V: NWST
Slide 25: Experienced Team
Experienced Team Paul Olmsted- CEO TSX-V: NWST Mr. Olmsted has been an executive in the gold mining industry for close to 25 years and has been active in the mining industry for 35 years. Most recently he served as Chief Financial Officer of Superior Gold Inc., leading the company from its initial I
Slide 26: Proven Board of Directors & Advisors
Proven Board of Directors & Advisors Maryantonett Flumian – Chair TSX-V: NWST Maryantonett has a career spent in the Canadian federal and provincial public service. A former Deputy Minister in the Canadian federal government as well as the President of the Institute on Governance for 10 years, she e
Slide 27: NorthWest Copper Mineral Resources
NorthWest Copper Mineral Resources TSX-V: NWST Kwanika Central1 Classification Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (Mlbs) Au (koz) Ag (koz) Open Pit Indicated 8.99 0.55 0.51 1.8 109.5 148 512 Inferred 9.18 0.33 0.35 1.0 66.1 104 300 Underground Indicated 7.23 0.73 1.01 2.3 117.0 235 523 Inferred
Slide 28: NorthWest Copper Mineral Resource Notes
NorthWest Copper Mineral Resource Notes Stardust (Underground) Notes Kwanika Central (Open Pit and Underground) Notes • The Mineral Resources have been compiled by Mr. B Ronald G. Simpson of GeoSim Services Inc. Mr. Simpson has sufficient • The Mineral Resource has an effective date of February 27,
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