Mr. Grant Sawiak reports

NORTHWEST COPPER ANNOUNCES CLOSING OF FIRST TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

Northwest Copper Corp. has closed the first tranche of the previously announced concurrent private placement that the company is undertaking in conjunction with the rights offering. The total amount the company is seeking to raise is no more than $4-million.

The first tranche consists of 2,145,250 common shares of the company for gross proceeds of approximately $225,251. Further tranche closings will occur up to and subsequent to the closing of the rights offering.

"We have had a very positive response and an immediate interest in the fair and transparent financing that we announced on Nov. 27, 2023," said Grant Sawiak, executive chair of Northwest. "We expect to close the rights offering on Dec. 28, 2023."

The rights offering subscription agreement, the information circular and the notice can be accessed under the company's profile on SEDAR+.

The common shares issued pursuant to the concurrent private placement are subject to a four-month-and-one-day hold period expiring April 12, 2024, in accordance with applicable Canadian securities laws, and a TSX Venture Exchange hold period, as applicable. The company expects to pay a cash broker fee to RBC Dominion Securities Inc. on a portion of the first tranche, the amount to be determined following the final close.

About Northwest Copper Corp.

Northwest Copper is a copper-gold explorer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a Tier 1 jurisdiction, Northwest Copper is well positioned to participate fully in a strengthening global copper market. The company is committed to responsible mineral exploration, which involves working collaboratively with first nations to ensure future development incorporates stewardship best practices and traditional land use.

We seek Safe Harbor.