Mr. Paul Olmsted reports

NORTHWEST COPPER ANNOUNCES BEST EFFORTS PRIVATE PLACEMENT FOR UP TO $10 MILLION

Northwest Copper Corp. has entered into an agreement with Stifel Nicolaus Canada Inc., to act as sole bookrunner and co-lead agent with Canaccord Genuity Corp., in connection with a best effort private placement offering by the company for aggregate proceeds of up to $10-million.

The offering will consist of the following securities:

• Hard-dollar units will be sold at a price of 35 cents per HD unit.
• Charity flow-through units will be sold at a price of 51.5 cents per CFT unit.
• Flow-through shares will be sold at a price of 41 cents per FT share.

The total number of HD units, CFT units and FT shares will be determined by the agent based on investor demand. Each HD unit and CFT unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of 45 cents for a period of 24 months following closing of the offering.

The corporation has granted the agents an option to sell up to an additional 15 per cent of the aggregate amount of the offered securities on the same terms and conditions of the offering. The agent option will be exercisable, in whole or in part, to offer additional hard-dollar units, FT shares or charity FT units in any combination, at any time up until 48 hours prior to the closing of the offering.

The net proceeds from the offering will be used to complete an updated preliminary economic assessment on the company's Kwanika-Stardust project, to advance exploration at Kwanika, to conduct surface work at the company's Lorraine project, to advance other exploration projects held by the company, particularly East Niv, and for working capital and general corporate purposes.

Certain insiders of the company may participate in the offering. Any such participation will constitute a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, as the fair market value of the related-party participation is not expected to exceed 25 per cent of the company's market capitalization.

The offering is expected to close on or about May 5, 2026, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and the relevant securities regulatory authorities. The securities issued under the offering will be subject to a hold period of four months and one day from closing of the offering.

The gross proceeds from the sale of CFT units and FT shares will be used to incur eligible resource exploration expenses that qualify as: (i) Canadian exploration expenses; and (ii) flow-through critical mineral mining expenditures (each as defined in the Income Tax Act (Canada)). The company will incur qualifying expenditures on or before Dec. 31, 2027, and will renounce such qualifying expenditures in favour of the subscribers of the CFT units and the FT shares with an effective date no later than Dec. 31, 2026.

About Northwest Copper Corp.

Northwest is a copper-gold exploration and development company with a pipeline of advanced- and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in an established mining jurisdiction, Northwest is well positioned to participate fully in strengthening global copper and gold markets. The company is committed to responsible mineral exploration, working collaboratively with first nations to help ensure future development incorporates stewardship best practices and respects traditional land use.

We seek Safe Harbor.