Aurwest Resources Corporation Closes Option Agreement for Porter Lake Property

Calgary, Alberta — June 23, 2026 — Leads & Copy — Aurwest Resources Corporation has finalized an option agreement granting the company the exclusive right to acquire a 100% interest in the Porter Lake property, situated within Saskatchewan's Athabasca Basin. The agreement was made with Critical Path Minerals Corp., acting as the optionee.

To secure the 100% ownership of the Porter Lake property, Aurwest is required to incur a minimum of $1,515,000 in exploration expenditures and complete specific securities issuances, all in compliance with Canadian Securities Exchange (CSE) policies.

Within one year of the agreement's inception, Aurwest must spend at least $455,000 on exploration at the property. Concurrently, upon regulatory approval, the company will issue 8,000,000 Units to the optionee. These Units are subject to a voluntary escrow, with one-quarter released every six months.

By the second anniversary of the agreement, Aurwest's exploration expenditures on the property must reach a total of at least $1,060,000. Additionally, on or before the first anniversary, Aurwest is obligated to issue Units valued at $150,000 to the optionee. The value of these Units will be determined by the 20-day Volume Weighted Average Price (VWAP) of Aurwest's common shares on the anniversary date.

Each Unit comprises one common share and one-half of a common share purchase warrant. These warrants carry an exercise price set at a 25% premium to the 20-day VWAP calculated at the time of issuance, with a minimum exercise price of $0.05, as stipulated by CSE policies. The warrants are exercisable for two years from their issuance date. Following the exercise of the option, the optionee will retain a 2.0% net smelter return royalty on the Porter Lake property. Aurwest has the option to repurchase half of this royalty for $1,000,000 prior to the commencement of commercial production.

The scientific and technical information relevant to this announcement has been reviewed and approved by Mr. Bill Dynes, P.Geo., a technical advisor to Aurwest Resources Corporation and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure of Mineral Projects.

Aurwest Resources Corporation is a Canadian-based junior resource company focused on acquiring, exploring, and developing uranium and gold properties in Canada. The company's interim president and chief executive officer is Cameron MacDonald.