Ann: 23.8 Million Ounces of Indium Defined at West Desert, page-54

View Looking East toward the West Desert Property

Key Points about the West Desert Exploration Project:

1. World-Class Indium Resource:

• The West Desert project boasts a newly updated JORC MRE indium resource, classified as world-class.
• With 23.7Moz of indium, it's the only indium resource in the US and one of the largest undeveloped deposits globally.
• Indium is a critical mineral, currently 100% imported by the US, making this discovery highly significant.

2. Significant Potential for Expansion:

• Only 10% of the porphyry contact has been explored, leaving ample room for further discoveries.
• High-grade zones of zinc, copper, silver, indium, and gold have been identified outside the current resource, indicating promising potential.
• The "Copper Zone" is particularly noteworthy, displaying high-grade copper and indium mineralization.

3. Multiple Exploration Targets:

• Exploration potential extends beyond zinc, copper, silver, and gold, encompassing molybdenum and iron ore.
• The presence of molybdenum within the porphyry system suggests similarities to the giant Bingham Canyon mine.
• Near-mine exploration targets identified by gravity surveys offer additional discovery opportunities.
• Modern electromagnetics and gravity geophysical techniques have not been fully utilized for exploration at West Desert, providing potential for these modern exploration methods to identify additional mineralization.

4. Favorable Location:

• The project is situated on private land, facilitating expedited permitting.
• Its proximity to the world-class Bingham Canyon mine provides infrastructure and operational advantages.
• The project's location within a prolific mining district underscores its potential.
• West Desert has access to roads linking to major cities and rail hubs. Infrastructure and utilities are established with electricity connected to the project site and long-term water rights in place.

5. Strong Investment Opportunity:

• The updated JORC MRE adds significant value to the project, with my estimate of the resources valued at AUD $5.4 billion.
• The presence of critical and strategic metals, coupled with exploration potential, makes it an attractive investment.
• The proximity to existing infrastructure and favorable location further enhance its investment appeal.

Overall, the West Desert exploration project exhibits exceptional potential for significant resource expansion and development of critical and strategic metals. Its location and existing infrastructure make it a compelling investment opportunity.

The AW1 website offers more information on the project.

https://www.americanwestmetals.com/site/pdf/1ce1f57b-73ec-42be-90d0-98a1b6f30bb4/Maiden-JORC-MRE-for-West-Desert.pdf
https://www.americanwestmetals.com/site/PDF/feef5f8c-6aca-42ce-8bf4-cc51e27611d5/TechnicalReport