Ann: 13% Cu in Assays and a New Discovery at Storm, page-33

From an exploration perspective, this drilling program by American West Metals is highly positive for several reasons:

1. High-Grade Discoveries: The program has yielded exceptional results, including a 13.5% copper assay at the Cyclone deposit. High-grade assays like these are strong indicators of a potentially economically viable resource, which is a major positive for the project's future development.

2. New Discoveries: The identification of the Squall deposit is particularly significant as it suggests that there is still untapped potential within the Storm project area. New discoveries during ongoing exploration indicate that the region is underexplored and could host additional valuable mineralization.

3. Significant Drilling Progress: With over 20,000 meters drilled, the program has gone beyond its initial scope, suggesting a robust commitment to resource delineation and expansion. This extensive drilling helps to better define the resource, providing more data to support resource estimates and potential upgrades.

4. Resource Expansion Potential: The drilling has highlighted intervals of high-grade copper outside the currently defined resource envelope. This suggests that there is potential to expand the known resource, which is crucial for improving the project's economic feasibility.

5. Correlation with Geophysical Targets: The ongoing MLEM survey at the Tornado prospect and other EM anomalies aligns well with previous drilling successes, indicating that these geophysical targets are reliable indicators of mineralization. This consistency is key for guiding future exploration and increasing the likelihood of further discoveries.

Overall, the drilling program is yielding promising results that enhance the project's potential and justify continued exploration investment.