VANCOUVER, British Columbia, March 11, 2022 (GLOBE NEWSWIRE) — NorthWest Copper Corp. (“NorthWest Copper” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that it has received 267,159 common shares from Alpha Copper Corp (“Alpha”) (CSE: ALCU) representing the first payment under a property option agreement dated January 13, 2022 among Eastfield Resources Ltd., Alpha and the Company (the “Option Agreement”).

The common shares have an aggregate value of $250,000 and are subject to a statutory hold period of four months and one day from the date of issuance.

Pursuant to the terms of the Option Agreement, Alpha may acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Okeover Copper (molybdenum) Project” (the “Property”), subject to 2% net smelter return to be retained by the Company (the “NSR Royalty”), by issuing the following additional common shares and incurring the following expenditures:

1. Issuing common shares with a value of $500,000 on or before the date which is 12 months from the closing date;
2. Issuing common shares with a value of $750,000 on or before the date which is 24 months from the closing date;
3. Issuing additional common shares such that NorthWest holds a 10% interest in Alpha on or before the date which is 36 months from the closing date; and
4. Incurring staged expenditures of not less than $5,000,000 on or before the date which is 36 months from the closing date.

The issuance of the next $500,000 in common shares and the first $500,000 in expenditures are obligations of Alpha pursuant to the Option Agreement. The NSR Royalty will entitle the Company to a 2% royalty on the sale of all ores, doré, concentrates, metals, minerals and mineral by-products that are produced or extracted by or on behalf of Alpha from the Property, which may be bought down by Alpha by one half with a cash payment of $1,000,000.

Okeover Property Description

The Property is located near Powell River on the southern British Columbia coast. It consists of 12 contiguous claims totaling 4,614 hectares and is beneficially owned 100% by NorthWest, subject to the Option Agreement.

About NorthWest Copper:

NorthWest Copper is a new copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to working collaborative with Indigenous and local communities to create economic opportunities while conducting our work in a culturally and environmentally responsible manner. Additional information can be found on the Company’s website at www.northwestcopper.ca .

On Behalf of the Board of Directors of NorthWest Copper Corp.

“Peter Bell”

Director, President and CEO

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