American West Metals (AW1) Investor presentation summary

Asset portfolio and resource base

• Holds 100% of the West Desert (Utah, USA) and Storm Copper (Nunavut, Canada) projects, both with significant copper, zinc, indium, silver, and gold resources.

• West Desert contains 33.7Mt @ 20g/t In, 3.83% Zn, 0.15% Cu, 9.1g/t Ag, 0.1g/t Au, including the largest undeveloped indium resource in the US.

• Storm Copper Project has a JORC resource of 28.2Mt @ 1% Cu, 3.3g/t Ag, with 276,100t copper and 2.97Moz silver.

• Additional exploration targets include gallium, molybdenum, and gold, with less than 10% of the mineral system explored at West Desert.

• Seal Zinc Project (Canada) adds further zinc and silver potential, with 1Mt @ 10.2% Zn, 46.5g/t Ag inferred resource.

Strategic positioning and market drivers

• US policy initiatives are accelerating permitting and funding for domestic critical minerals, directly benefiting West Desert.

• Indium and gallium are classified as strategic metals; West Desert is positioned to supply the US with these, reducing reliance on imports from China.

• Gallium export controls by China and US defense/tech needs highlight the importance of domestic supply.

• West Desert is fully permitted for open pit and exploration shaft construction, with strong infrastructure and proximity to Salt Lake City.

Project economics and development plans

• Storm Copper Project PEA outlines initial US$47.4m CAPEX, rapid payback (~3 years), and post-tax NPV of US$149m, with a post-tax IRR of ~46%.

• Simple, ESG-friendly processing with ore sorting and no tailings or chemicals; ramp-up to 1.25Mtpa planned.

• Strategic alliance with Ocean Partners provides up to US$40m in project finance and offtake for copper and silver products.

• Storm mine plan targets 14,000t annual copper production at AISC of US$2.99/lb, with a six-year initial mining schedule and ten-year processing plan.