American West Metals (AW1) MST Access and NWR Emerging Copper Stars Conference – Day 1 summary

Project portfolio and capital position

• Currently in a trading halt due to a capital raise at a 20% premium, positioning for project advancement.

• Focus on two main projects: Storm in Nunavut, Canada, and West Desert in Utah, both in top mining jurisdictions.

• Storm project is a near-term, low-capital, high-margin copper development with strong ESG credentials and significant partner funding covering up to 80% of initial capital.

• West Desert offers exposure to critical metals, including one of the world's largest undeveloped indium deposits, and is attracting interest for further funding.

• Exploration potential across a 2,200 sq km copper belt, with ongoing drilling and resource expansion expected to drive long-term growth.

Storm project highlights and development

• Storm features simple, high-grade copper mineralization, enabling efficient, low-cost processing and minimal environmental impact.

• Initial resource of 21 million tons at over 1% copper, with current mining inventory at 10.3 million tons and potential for significant increases.

• Processing uses ore sorting and DMS circuits, targeting 70-72% recoveries, with ongoing work to improve these figures.

• Strategic partnerships with Taurus and Ocean Partners provide capital and offtake security, de-risking project execution.

• PFS and permitting are advanced, with updated resources and regular news flow expected in the coming months.

West Desert and critical metals opportunity

• West Desert is a skarn system with high grades of zinc, copper, silver, indium, and gold, and only 10% of the porphyry margin explored.

• Holds the only JORC-compliant indium resource in the U.S., a critical metal with supply constraints and strong government interest.

• Drilling has revealed high-grade intersections, with significant upside in copper, gold, and critical metals.

• Project sits on private land with potential for reprocessing historical waste dumps for additional value.

• U.S. government and Department of Defense have shown interest in supporting critical metals development.