Aurwest Resources Closes Option Agreement On Porter Lake Uranium Property

About this update from Aurwest Resources Corp.

Calgary, Alberta (June 23, 2026) – TheNewswire – Aurwest Resources Corporation (“Aurwest” or the “Company”) (CSE: AWR) is pleased to announce that is has closed its previously announced option agreement (the “Option Agreement”) with Critical Path Minerals Corp. (the “Optionee”) pursuant to which the optionee has granted Aurwest the exclusive right and option to acquire a 100% interest in the Porter Lake property (the “Property”) located in Saskatchewan’s Athabasca Basin. Under the terms of the Option Agreement, Aurwest has the sole and exclusive right and option to acquire up to a 100% interest in the Porter Lake property in consideration for incurring a minimum of $1,515,000 in exploration expenditures and making the securities issuances set out below (in each case subject to and in accordance with the rules and policies of the Canadian Securities Exchange (the “CSE”)): On or before the 1-year anniversary date of the Option Agreement, Aurwest must incur at least $455,000 in exploration expenditures on the Property (the First Expenditure”);  Upon receipt of regulatory approval, payment to the Optionee of 8,000,000 Units (defined below) of Aurwest, subject to a voluntary escrow with ¼ of these securities released every six months (the “First Unit Based Payment”);  On or before the 2-year anniversary date of the Option Agreement, Aurwest must incur at least $1,060,000 in exploration expenditures on the Property (the Second Expenditure”);  On or before 1-year anniversary date of the Option Agreement, payment to the Optionee of $150,000 in Units (defined below) of Aurwest, calculated on the anniversary date using a 20-day VWAP (defined below) of the common shares of Aurwest at that time (the Second Unit Based Payment”).  Each unit (the “Units”) issued by Aurwest to the Optionee is comprised of one common share and one-half common share purchase warrant and each warrant is exercisable at a price that is a 25% premium to the 20 day VWAP (defined below) calculated at the date of issuance, subject to a minimum exercise price of $0.05 as per CSE Policies,  and at any time within 2 years from the date of issuance, and the Units shall be priced using a 20 day Volume Weighted Average (“VWAP”) at the anniversary date of the common shares of Aurwest as listed on the CSE. Following exercise of the Option. The Optionee will also retain a 2.0% net...

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