Mr. Paul Olmsted reports

NORTHWEST COPPER ANNOUNCES UPSIZE OF BEST EFFORTS PRIVATE PLACEMENT TO $12.0 MILLION

Northwest Copper Corp. has amended its engagement with Stifel Nicolaus Canada Inc. to act as sole bookrunner and co-lead agent with Canaccord Genuity Corp. in connection with a best efforts private placement offering that has been increased to aggregate proceeds of up to approximately $12.0-million.

Chief executive officer Paul Olmsted stated: "The strong investor demand for this financing is a significant success for the company. Demand for both the hard-dollar and flow-through components reflects confidence in our new strategic approach at Kwanika following the updated mineral resource released in March. This funding will support delivery of an updated preliminary economic assessment (PEA) at the Kwanika-Stardust project, targeted for mid-2026, and fully finance planned exploration drilling aimed at upgrading and expanding the mineral resources. With work on the PEA well under way, we look forward to providing further updates as we advance Kwanika toward development."

The offering will consist of the following securities:

• Hard-dollar (HD) units will be sold at a price of 35 cents per HD unit, with a minimum total amount of $3-million;
• Charity flow-through (CFT) units will be sold at a price of 51.5 cents per CFT unit;
• Flow-through (FT) units will be sold at a price of 41 cents per FT unit.

The total number of HD units, CFT units and FT units will be determined by the agent based on investor demand. Each HD unit, CFT unit and FT 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 agents continue to maintain 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 agents' option will be exercisable, in whole or in part to offer additional hard-dollar units, FT units or charity FT units in any combination, at any time up until 48 hours prior to the closing of the offering. Assuming approximately $13.8-million, including the full exercise of the agents' option of approximately $1.8-million, comprises HD units, the maximum number of common shares and warrants that could be issued is 39,494,285 common shares and 19,747,142 warrants.

The offering is expected to close on or about May 14, 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.

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.