Mr. Grant Sawiak reports

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

Northwest Copper Corp. has closed the second 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 consisted of 2,145,250 common shares of the company for gross proceeds of approximately $225,251 and closed on Dec. 11, 2023. The second tranche consists of 2,752,000 common shares of the company for gross proceeds of approximately $288,960. Further tranche closings will occur up to, and subsequent to, the closing of the rights offering.

The rights offering information circular and notice can be accessed under the company's profile on SEDAR+ and at the company's website. The rights will expire at 5 p.m. ET on Dec. 28, 2023, after which time unexercised rights will be void and of no value.

The common shares issued pursuant to the second tranche of the concurrent private placement are subject to a four-month-and-one-day hold period expiring April 22, 2024, in accordance with applicable Canadian securities laws, and a TSX Venture Exchange hold period, as applicable. The company expects to pay cash brokers' fees to Echelon Wealth Partners Inc. and CIBC World Markets Inc. on a portion of the second 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. Northwest Copper 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.