Mr. Cameron MacDonald reports

AURWEST RESOURCES ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT ON THE PORTER LAKE URANIUM PROPERTY, NORTHERN SASKATCHEWAN

Aurwest Resources Corp. has filed a technical report prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects on its Porter Lake uranium property in the Mudjatik area of Northern Saskatchewan. The report, entitled "Technical Report on the Porter Lake Property, Mudjatik Area, Northern Saskatchewan, Canada," has an effective date of Oct. 30, 2026, and was prepared by Robert B. K. Shives, BSc, PGeo. The technical report is available under the company's profile on SEDAR+ and on the company's website. It contains no mineral resource or mineral reserve estimate.

"The technical report gives investors a full account of Porter Lake for the first time, from the 1950s drilling at Blackstone Lake to the 2025 high-definition airborne radiometric survey," said Cameron MacDonald, interim chief executive officer of Aurwest. "It identifies three uranium target areas and recommends a property-wide airborne electromagnetic survey followed by ground follow-up, which would also satisfy our first-year expenditure commitment under the option agreement. We are now planning that program."

Property overview

The property comprises four contiguous mineral claims totalling 10,489.52 hectares in the Mudjatik domain of Northern Saskatchewan (NTS 74B/06). It lies about 40 kilometres west of provincial Highway 914 (the Key Lake Road) and 136 km southwest of Cameco Corp.'s Key Lake mill. The property is approximately 100 km south of the southern margin of the Athabasca basin and has no Athabasca sandstone cover. It lies southwest along trend from the Wollaston-Mudjatik transition zone, which hosts or lies close to the Key Lake, McArthur River and Cigar Lake uranium deposits. Mineralization at those deposits is not necessarily indicative of mineralization on the property. The company's news releases of June 1, 2026, and June 23, 2026, describes the property as located in the Athabasca basin but this news release corrects that description.

Aurwest holds the exclusive option to acquire a 100-per-cent interest in the property from Critical Path Minerals Corp. (CPM) under an option agreement dated effective May 26, 2026, as previously announced. To exercise the option, Aurwest must issue units to CPM and incur $1,515,000 in exploration expenditures over two years, including $455,000 by the first anniversary of the option agreement. If the option is exercised by Aurwest, CPM retains a 2.0-per-cent net smelter returns royalty, half of which Aurwest may repurchase for $1-million.

Technical report highlights

• Three historical uranium target areas. Historical grab and trench samples returned up to 3,200 parts per million uranium (U) at Porter Creek, 3,200 ppm U at Blackstone Lake and 7,600 ppm U (0.90 per cent U3O8) at Dragon Bay, with ground scintillometer readings of up to 25,000 counts per second. The target areas lie up to about 17 km apart.
• Historical drilling at Blackstone Lake. In 1955, Nova Uranium Mines Ltd. drilled six holes (324 m) and reported narrow intervals of up to 0.21 per cent U3O8 over 0.6 m in graphitic metasediments and pegmatite containing uraninite.
• Two thousand twenty-five airborne radiometrics support the historical showings. CPM's 2025 high-definition helicopter-borne gamma-ray spectrometric (RAMP-HD) survey flew 594.9 line km at 50 m spacing over the three target areas on the property. The highest equivalent-uranium (eU) readings in each block lie within 90 m to 900 m of the historical showings. At Blackstone Lake, the eU high coincides with a historical 1,640 ppm U grab sample and a Max-Min EM conductor.
• New, untested anomalies. The survey outlined eU anomalies that have not been examined on the ground, including one at Dragon Bay about 860 m west of the historical trench. High thorium responses in the Porter Creek and Blackstone blocks may indicate potential for rare-earth element (REE) mineralization; no REE analyses are available from the property.
• Multiple deposit models. The technical report considers the property prospective for basement-hosted, structurally controlled uranium associated with graphitic conductors; large-tonnage, low-grade pegmatite- and alaskite-hosted (intrusive) uranium; and intrusion-related REE mineralization.

The property is at an early stage of exploration. No mineral resources or reserves have been estimated, and no modern drilling has been completed.

Recommended exploration program

The technical report concludes that the property is of merit and recommends a two-phase program totalling $2,093,520 in expenditures (excluding GST). Phase two is contingent on the results of phase one.

• Phase one ($803,220): A property-wide helicopter-borne VTEM (versatile time-domain electromagnetic) plus time-domain electromagnetic (EM) and magnetic gradiometer survey at 100 m line spacing (about 1,215 line km); EM modelling and integrated targeting; and a helicopter-supported ground program of about 25 days, including mapping, prospecting, ground spectrometry, resampling of historical trenches, and about 300 rock and channel samples. Phase one also includes community engagement and permitting in preparation for drilling. Completion of phase one would satisfy Aurwest's first-year expenditure commitment under the option agreement with CPM.
• Phase two ($1,290,300): About 2,500 m of helicopter-supported diamond drilling in approximately 12 holes at Porter Creek (1,000 m), Blackstone Lake (750 m) and Dragon Bay (750 m).

The company is evaluating the timing of phase one and will begin engagement with local communities and rights holders before any ground work.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Robert B. K. Shives, BSc, PGeo, author of the technical report independent of the company and a qualified person as defined in National Instrument 43-101.

About Aurwest Resources Corp.

Aurwest is a Canadian junior resource company focused on the acquisition and exploration of gold and uranium properties in Canada. The company holds an option to acquire a 100-per-cent interest in the Porter Lake uranium property in Northern Saskatchewan and an option to earn a 50-per-cent interest in the Weaver Lake gold property in southwestern British Columbia from Pacific Bay Minerals Ltd.

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