NorthWest Copper Corp. (TSX-V:NWST) is pleased to announce that it has closed the previously announced bought deal private placement offering of 16,950,000 common shares of the Company issued as “flow-through shares” as defined in subsection 66(15) Income Tax Act (Canada), at a price of $1.18 per Charity FT Share for aggregate gross proceeds of $20,001,000.

“Our successful exploration program in 2021 has identified multiple new and exciting targets including East Niv and Kwanika High-Grade,” said Peter Bell, President and CEO of NorthWest. “We are fully funded to advance exploration across our portfolio and to continue to explore for and delineate high-grade mineralization.”

The Offering was carried out by a syndicate of underwriters led by National Bank Financial, and including Haywood Securities Inc. and PI Financial Corp. In connection with the Offering, the Company paid to the Underwriters a cash commission on certain orders equal to 5.0% of the gross proceeds of the Offering.

The gross proceeds from the sale of the Charity FT Shares will be used before December 31, 2022 for exploration of the Company’s properties in British Columbia, which will constitute “Canadian exploration expenses” (within the meaning of the Tax Act), that will qualify as “flow-through mining expenditures” within the meaning of the Tax Act. The Charity FT Shares are subject to a hold period expiring April 3, 2022.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About NorthWest Copper:

NorthWest Copper Corp. is a new diversified copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market.