Vancouver - ArcWest Exploration Inc. (TSXV: AWX) ('ArcWest') is pleased to provide an update on exploration programs planned for the summer and fall of 2022, which include partner funded drilling on multiple ArcWest porphyry copper-gold ('Cu-Au') projects.
Highlights
Drilling, funded by partner Sanatana Resources, is ongoing at Oweegee Dome. Oweegee Dome is located 40 km east of Newcrest's recently acquired Brucejack mine and 45 km east of Seabridge Gold's KSM-Iron Cap porphyry Cu-Au project. According to Seabridge, KSM-Iron Cap is host to the world's largest undeveloped Au project by reserves and resources
Drilling at ArcWest's Oxide Peak project is scheduled for the summer of 2022, funded by partner TDG Gold. Oxide Peak is situated adjacent to Benchmark Metals' Lawyers Au-Ag project and Centerra's advanced stage Kemess Cu-Au deposits.
As per an agreement announced Dec. 15th, 2021, Wedgemount Resources is required to drill ArcWest's Eagle project by Dec. 31st, 2022, or pay to ArcWest $250,000. Eagle is situated mid-way between Centerra Gold's Mt. Milligan Cu-Au mine and NorthWest Copper's Kwanika Cu-Au development project.
Tyler Ruks, President and CEO of ArcWest commented, 'Partner funded drilling on multiple ArcWest porphyry Cu-Au projects is scheduled for the 2022 field season. This includes ongoing drilling at Oweegee Dome, funded by Sanatana Resources, and imminent drilling at Oxide Peak, funded by TDG Gold. We are fortunate to have such excellent partners and so many opportunities for discovery in 2022.
ArcWest's cash position totals just under $2 million, not including our shareholdings in partner companies. As of August 4th, 2022, ArcWest has a market capitalization of only $4.95 million. This values our projects, including our prospective Golden Triangle assets, at only $3 million. ArcWest has a relatively low warrant overhang of 9,675,000 shares, with an exercise price of $0.15 and an August 31st, 2023 expiry date. Despite the current challenging market conditions, ArcWest has multiple opportunities for copper-gold discoveries in 2022 remains a compelling investment opportunity.'
About ArcWest Exploration Inc.
ArcWest Exploration is a project generator focused on porphyry Cu-Au exploration opportunities throughout western North America. The company is in possession of eight 100% owned Cu-Au projects throughout BC's premier porphyry Cu-Au districts. These include ArcWest's Todd Creek and Oweegee Dome projects, which are two of the largest and most prospective land positions for Cu-Au exploration in BC's prolific Golden Triangle. Oweegee Dome is adjacent to Seabridge Gold's supergiant KSM-Iron Cap-Snowfield porphyry Cu-Au deposit and Todd Creek adjoins Pretium's Brucejack mine property. In March of 2022, Newcrest Mining completed the acquisition of Pretium and its high grade Brucejack gold-silver mine in a transaction valued at $3.5 billion. Three ArcWest projects are currently being advanced by partners through earn-in and joint venture agreements; multiple ArcWest Cu-Au projects are scheduled to undergo partner funded drill testing in 2022. By conducting partner funded exploration on multiple exploration projects simultaneously, ArcWest's chances of discovery are enhanced while exposing shareholders to minimal dilution. The company is managed by an experienced technical team with a track record of discovery and a reputation for attracting well-funded senior partners, including Freeport McMoRan, Robert Friedland group companies, ITOCHU, Antofagasta and Teck.
Contact:
Tyler Ruks
Tel: +1 (604) 638 3695
Investors are cautioned that ArcWest Exploration Inc. has not verified the data from the Kemess, KSM-Iron Cap, Kwanika, Brucejack, Mt. Milligan, Huckleberry, Ootsa, Berg or Bell-Granisle deposits. Further, the presence and style of mineralization on these properties is not necessarily indicative of similar mineralization on the ArcWest Exploration Inc. property. Historical assays from drill programs on its properties have not been verified by ArcWest but have been cited from sources believed to be reliable. Assay results reported by ArcWest in this news release range from trace amounts to the values stated.
This news release contains statements about ArcWest's expectations and are forward-looking in nature. As a result, they are subject to certain risks and uncertainties. Although ArcWest believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and ArcWest undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
ARCWEST EXPLORATION INC. 
