Ann: Maiden JORC MRE for Storm, page-5

Dave O’Neill, Managing Director of American West Metals commented:
“The maiden JORC compliant mineral resource estimate (MRE) for the Storm Project has exceeded our
expectations and delivered the foundations to what we believe will be a globally significant copper
district.
“Within only a single season of resource drilling we have rapidly defined four robust copper deposits
very close to surface: Cyclone, Chinook, Corona, and Cirrus. The setting and scale of the mineralisation
gives us the opportunity to potentially mine 100% of the resource with open-pit methods and use cut-
off grades much lower than underground deposits. The outcome is more copper metal.
“The initial resource is blessed with outstanding and immediate growth potential. The known copper
deposits remain open and the high-grade Thunder, Lightning Ridge and Cyclone North discoveries of
2023 are not yet included in the MRE.
“A major drilling program has been planned to drill out the 2023 discoveries, expand the known
deposits and test new, high-priority exploration targets that appear to be analogues to the known
copper mineralisation. Work is also underway on the Canadian NI 43-101 compliant MRE, which will
also be released soon.
“The maiden JORC MRE has underlined the exceptional opportunity presented by Storm to create
further significant value for American West Metals shareholders. We look forward to updating investors
and discussing our 2024 exploration and resource expansion plans via a Webinar tomorrow, and
through further news updates in the coming weeks.”
Deposit Category Ore Type Tonnes Cu (%) Ag (g/t) Cu (t) Ag (Oz)
Cyclone
(4100N Zone)
Inferred Sulphide 7,210,000 1.20 4.03 86,800 934,700
Indicated Sulphide 4,880,000 1.26 3.45 61,600 541,100
Chinook
(2750N Zone)
Inferred Sulphide 2,190,000 1.47 4.00 32,300 282,300
Corona
(2200N Zone)
Inferred Sulphide 1,639,228 0.89 1.48 14,700 77,700
Cirrus
(3500N Zone)
Inferred Sulphide 1,554,155 0.62 1.29 9,700 64,400
Total Inferred Sulphide 12,600,000 1.14 3.35 143,400 1,359,200
Total Indicated Sulphide 4,880,000 1.26 3.45 61,600 541,100
Total Ind + Inf Sulphide 17,480,000 1.17 3.38 205,000 1,900,200
Table 1: Total unconstrained MRE of all material categories using a 0.35% Cu cut-off. The above MRE
is reported in accordance with the Australian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code – 2012). Some totals may not add up due to rounding.
Appendices A and B of this ASX announcement contain detailed supporting information for the MRE.