ArcWest Exploration provided an exploration update on completion of the 2023 3-D induced polarization (IP) program on its Oweegee Porphyry Copper-Gold (Cu-Au) Project located within British Columbia's renowned Golden Triangle, funded by partner Sanatana Resources. The 2023 IP program of 8.5 line kilometers expanded survey coverage over one kilometer to the east, augmenting previous surveys in 2021 and 2022. The 2023 program has outlined a 1 by 2 km chargeability anomaly (the "Junction" target), which provides a compelling untested drill target situated beneath the overlying, variably Cu-Au mineralized QSP-altered porphyries and associated breccias of the Delta Zone.

The Oweegee Cu-Au Project is situated proximal to Highway 37 and the Northwest Transmission Line. The project covers a 152 square kilometer structural dome exposing a thick section of Stikine terrane, host to numerous large copper-gold deposits, including Red Chris (Newmont Mining-Imperial Metals), Saddle North (Newmont Mining), Galore Creek (Newmont Mining-and Teck Resources), and KSM-Iron Cap (Seabridge Gold), among others. The Oweegee project is approximately 45 km east of Seabridge Gold's giant KSM-Iron Cap porphyry Cu-Au deposits as well as Tudor Gold's Treaty Creek Au-Ag-Cu project and Newmont Mining's recently acquired Brucejack Au-Ag mine.

Collectively, the KSM-Iron Cap and Treaty Creek deposits represent one of the largest Au-Cu concentrations in North America. Contained metal within Proven plus Probable Reserves at KSM-Iron Cap total 38.8 million ounces (oz) Au, 183 million oz Ag and 10.2 billion pounds of copper. Tudor recently released a measured plus indicated resource estimate of 17 million oz Au and 93 million oz Ag.

Highlights. 8.5 line-kilometers of new IP surveying were completed in 2023. Junction chargeability anomaly extended to a 1 by 2 km area, representing a large, untested drill target.

2023 IP Program. The 2023 induced polarization (IP) program surveyed approximately 8.5 line-kilometres using Dias Geophysical's distributed array deep IP ("DCIP") survey system. The program was completed between late August and mid-September, and augments the 17 line-kilometres of IP completed in 2021-2022, also using the Dias system.

The Dias DCIP system provides full, high quality, and high-resolution 3-D resistivity and induced polarization models of the subsurface. The primary goal of the 2023 survey was to extend coverage toward porphyry-style copper-gold mineralization discovered in 2022 on the east side of Bear Valley and to close off the Junction anomaly discovered in 2022. The Junction anomaly partly outlined by the 2021-2022 3-D IP model extended over a 300 m by 750 m area, open to the east, mostly 300 m below surface.

The 2023 program greatly enlarged the Junction anomaly (14 to 28 mV/V) which now extends over 1 km wide, 2 km along strike and extends to depth limits of the survey (about 800 m below surface). The deep IP anomaly partly underlies the Delta Zone, which was drill tested in 2022, resulting in the highest grade drill intercept on the project to date in OW22-08: 112.18 meters grading 0.17% Cu, 0.22 g/t Au, 1.1 g/t Ag (58.37-170.55m), hosted by predominantly quartz-sericite-pyrite ("QSP") altered porphyries and associated breCCias. The Junction IP anomaly represents an undrilled porphyry target beneath the overlying QSP-altered Delta porphyries.

and associated breccias.