ArcWest Exploration Inc. announced that it has entered into an agreement with Interra Copper Corp. to explore ArcWest's Rip porphyry copper-molybdenum (Cu-Mo) project in central British Columbia. Under the terms of the agreement, Interra has a two-stage option to earn up to an 80% ownership interest in the Rip project over up to an 8-year period.

To earn an initial 60% interest (the "First Tier Earn-in"), Interra is required to fund $2 million of work expenditures over a 4-year period and make staged cash and share payments to ArcWest totaling $100,000 and 1,050,000 shares, respectively. Interra will issue 200,000 shares to ArcWest before December 4, 2023. ArcWest will be the operator during the initial earn-in period.

Upon Interra earning such 60% interest, it can elect, at its sole discretion, to earn an additional 20% ownership interest in the Rip project (for a total 80% interest; the "Second Tier Earn-in") by, over a four year period, completing and delivering to ArcWest a Feasibility Study for the Property, in addition to making staged cash payments to ArcWest totaling $1,000,000 ($250,000 per year). The Second Tier Earn-In period may be extended beyond its initial four year term by up to three years under the following conditions: Interra sole funding work expenditures of at least CAD 2,000,000 per extension year, and; Interra paying ArcWest CAD 100,000 per extension year in addition to the $250,000 required to be paid.