ArcWest Exploration reported initial drill results from 2022 drilling on its Oweegee Dome Porphyry Copper-Gold (Cu-Au) Project located within British Columbia's renowned Golden Triangle. Partner Sanatana Resources completed a large program of mapping, rock and soil geochemical sampling, prospectrographic, induced polarization (IP) and diamond drilling at Oweegee in 2022, including 3679 meters of drilling in twelve drill holes. ArcWest optioned the Oweegee Project to Sanatana in July 2021; details of the earn-in agreement are available in an ArcWest press release dated July 21, 2021.

The Oweegee Cu-Au Project covers a 152 square kilometer structural dome exposing a thick section of Stikine terrane strata. Stikine terrane is host to numerous large copper-gold deposits, including Red Chris (Newcrest 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.

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.

Two 2022 drill holes tested the Delta Zone, the primary historical drill target at Oweegee, where previous drilling intersected low-grade Cu-Au mineralization in three drill holes, including 0.10% Cu and 0.225 g/t Au over 89.43m in DC07-03. Both drill holes OW-22-08 and OW-22-09 tested the zone at a high angle to previous drilling and intersected broad zones of mineralization, including the highest grade Cu- Au mineralized interval 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). Included in this interval are two higher-grade zones: 15.85 m grading 0.34% Cu, 0.33 g/t Au, 2.1 g/t Ag (74.5-90.35m); and 12.37 m grading 0.45% Cu, 0.44 g/t Au, 1.9 g/t Ag (145-157.37m).

OW-22-09, drilled at 180 degrees to -08, intersected similar mineralization but somewhat lower grade, and was successful in extending the Delta Zone about 100m to the NE of previous drilling. Delta Zone mineralization is primarily hosted in variably brecciated and altered monzonite to diorite, diorite breccia, polymictic breccia and diorite porphyry. Alteration is moderate to intense phyllic (sericite-pyrite-quartz) and in places causes total textural destruction of the host rock.

The higher grade (>0.2% Cu) zones often contain weak "B" vein mineralized stockworks. Molybdenum is significantly higher in the Delta Zone than in the Molloy Zone. The Delta Zone remains open along strike and to depth.

Initial focus of the 2022 drill program was the Molloy Zone, where mapping and rock sampling in 2021 had identified a 145 by 40m zone of sheeted quartz-chalcopyrite veining in a monzonite (quartz latite) porphyry intrusion averaging 0.83 g/t Au, 0.343% Cu and 4.2 g/t Ag. Six drill holes tested the Molloy Zone, with five holes drilled from a pad on the southern toe of the Molloy outcrop area, and one drilled from a ridge 175m to the west towards the Molloy outcrop. Five of the six 2022 drill holes intersected narrow zones of mineralized monzonite porphyry and monzonite breccia, similar to, but lower grade than the mineralization sampled at surface.

Mineralization in the monzonite porphyry consists of undulating, smoky quartz-chalcopyrite "A" veins, local chalcopyrite disseminations, and late chalcopyrite-bearing calcite veins, accompanied by patchy or fracture controlled potassic alteration overprinted by phyllic to sericite-chlorite alteration. Two drill holes (OW-2022-01 and OW-22-05) intersected mineralization in polymictic breccias. These breccias are widespread at Oweegee, and range from clast-supported breccias with a variety of intrusive and other clasts, to chaotic/milled matrix-supported muddy matrix diatreme breccias.

Some breccia intervals contain strongly altered and Cu/Mo mineralized intrusive clasts, which may have been transported from a deeper porphyry source. A broad interval of polymictic breccia at depth in OW-22-01 (320.17-384.30m) contains unusual jasper and strongly hematized clasts as well as intervals of strong hematite-silica alteration. Drill hole OW-2022-12 targeted a pipe-like IP anomaly at the Snowpatch area almost 2 km west of the Delta Zone.

From 255 to 435m downhole, a series of polymictic breccias was encountered with moderate disseminated pyrite in the matrix, which could explain the IP anomaly. The breccias contain intervals with anomalous gold and copper: 0.11 g/t Au, 379 ppm Cu over 19m (290-309m), and 0.13 g/t Au, 375 ppm Cu over 6.8m (350.2-357m). Polymictic breccias at the Snowpatch discovery outcrop contain porphyritic intrusive clasts with relict potassic alteration, disseminated pyrite-chalcopyrite and local gypsum veins.

Breccia infill is predominantly a mixture of quartz, pyrite, and broken crystals/rock flour. The Snowpatch breccias are believed to be sourcing altered and mineralized intrusive rocks from depth. The 2022 geophysical program included approximately 8 line-kilometres of Induced Polarization (IP) surveying, using Dias Geophysical's distributed array deep IP ("DCIP") survey system.

The program was completed between July 15 and September 21, and extended the 9 line-kilometres of IP completed in 2021 to the south and west. The Dias DCIP system provides full, high quality, and high-resolution 3-D resistivity and induced polarization models of the subsurface. The 3-D model shows information from surface level around 1,500 metres above sea level ("asl") to about 400 metres asl.

The 3-D model provided by Dias integrating the 2021 and 2022 IP programs outlines five significant chargeability anomalies, including the Crescent /Delta Zone anomaly, and four large, deeper chargeability IP anomalies along an arcuate trend south and west of the Delta Zone. Crescent /Delta: 200 m x 500 m, near surface; 2. Snowpatch: 400 m x 300 m, 400m below surface; 3. Jack Creek: 375 m x 400 m, 300m below surface; 4. Junction: 300 m x 750 m, open to the east to surface, mostly 300 m below surface; 5. The Dome: 400 m x 400 m, open to the north 300m below surface. Anomalies 2-5 are untested to date.

Approximately eight weeks were spent on a geological and geochemical field program between June and early September, 2022.