Mr. Grant Sawiak reports

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

Northwest Copper Corp. has closed the fourth, and final, tranche of the previously announced concurrent private placement.

The final tranche of the concurrent private placement consists of 22,051,905 common shares of the company for gross proceeds of approximately $2,315,450. The total gross proceeds from the rights offering and the concurrent private placement to date are $3,999,885 and will be used for working capital purposes and desktop exploration work, including technical studies and drill target development. The concurrent private placement is now closed.

The common shares issued pursuant to the final tranche of the concurrent private placement are subject to a four-month-and-a-day hold period expiring May 24, 2024, in accordance with applicable Canadian securities laws, and TSX Venture Exchange hold period, as applicable.

Aggregate cash broker fees of $11,536 will be paid to Echelon Wealth Partners Inc., CIBC World Markets Inc., Canaccord Genuity Corp. and RBC Dominion Securities Inc. in connection with the concurrent private placement.

In the Concurrent private placement, John Kimmel acquired 14,285,714 common shares for aggregate consideration of $1.5-million. Immediately prior to the completion of the concurrent private placement, Mr. Kimmel beneficially owned, directly or indirectly, or exercised control or direction over, 15,656,243 common shares and warrants to acquire 3,260,870 common shares exercisable at a price of 30 cents per common share until Feb. 3, 2025, representing approximately 7.56 per cent of the issued and outstanding common shares on a non-diluted basis and 8.99 per cent on a partially diluted basis.

Immediately following the closing of the concurrent private placement, Mr. Kimmel beneficially owned, directly or indirectly, or exercised control or direction over, 29,941,957 common shares and the warrants representing approximately 13.06 per cent of the issued and outstanding common shares on a non-diluted basis and 14.28 per cent on a partially diluted basis.

Mr. Kimmel acquired the securities of the company as part of his continuing strategic investment in the company. Mr. Kimmel intends to review his investment in the company on a continuing basis and may, from time to time and at any time, and depending on market and other conditions, acquire or dispose of the company's equity or debt securities or instruments through open market transactions, private placements and other privately negotiated transactions, or otherwise (including through exercising investor rights provided to Mr. Kimmel in the subscription agreement dated Jan. 10, 2024, between Mr. Kimmel and the company), in each case, depending on a number of factors, including general market and economic conditions and other factors and conditions Mr. Kimmel deems appropriate.

As a condition to Mr. Kimmel's participation in the concurrent private placement, the company agreed to grant Mr. Kimmel certain investor rights, including the right to nominate one person to the board of directors of the company and the right to participate in all future financings for so long as Mr. Kimmel owns at least 10 per cent of the issued and outstanding shares of the company. If Mr. Kimmel's ownership falls below 10 per cent, he will continue to have the right to appoint an observer to the board of directors so long as he owns at least 7.5 per cent of the issued and outstanding shares of the company. The full set of rights granted to Mr. Kimmel have been filed under the company's SEDAR+ profile.

This press release is being issued pursuant to National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report regarding the concurrent private placement will be filed on the System for Electronic Document Analysis and Review (SEDAR+) under Northwest's issuer profile. To obtain a copy of the early warning report filed by Mr. Kimmel, please contact Adam Manna at 416-587-3631 or refer to Northwest's SEDAR+ profile. Northwest can be contacted at PO box 95010, Vancouver, RPO Kingsgate, B.C., Canada, V5T 4T8.

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. It is committed to responsible mineral exploration which involves working collaboratively with first nations to ensure future development incorporates stewardship best practices and traditional land u

We seek Safe Harbor.