Aurwest Resources Enters Option and Joint Venture Agreement with Pacific Bay Minerals for Weaver Gold Property

Calgary, Alberta — April 14, 2026 — Leads & Copy — Aurwest Resources Corporation has entered into a Definitive Option and Joint Venture Agreement with Pacific Bay Minerals Ltd., acquiring an option to earn up to a 50% undivided interest in the Weaver Gold gold/silver property in British Columbia.

Under the agreement, Pacific Bay will operate the project in exchange for payments, issuance of Aurwest common shares, and exploration work. Aurwest can earn the interest over three years, contingent on Canadian Securities Exchange rules and policies.

Upon signing, Aurwest paid $10,000 and issued 500,000 shares. Upon regulatory approval, Pacific Bay will receive $20,000 worth of Aurwest shares based on the 20-day Volume Weighted Average Price (VWAP). On or before the first anniversary of the LOI, Aurwest will pay $15,000 cash, $25,000 worth of shares based on VWAP, and $75,000 in exploration work on the property. On or before the second anniversary, $20,000 cash, $75,000 in shares, and $100,000 in exploration. For the third anniversary, $25,000 cash, $75,000 in shares, and $150,000 in exploration work will be paid.

Upon Aurwest fulfilling all option payments and work commitments, a 50/50 joint venture will automatically form, with Pacific Bay Minerals as the initial operator and a two-member Management Committee governing major decisions.

The Weaver Gold property is subject to a 3.0% Net Smelter Returns Royalty in favor of David Schussler. Pacific Bay retains the right to purchase up to 2% of that royalty at $1.5 million per 1% increment and holds a right of first refusal on the remaining 1%.

If a joint venture partner fails to fund its share of approved programs post-formation, its interest will be diluted proportionally. A partner whose interest falls to 15% or below is automatically converted to a 2% NSR royalty, with the other party holding a buyout option on that royalty for $2,000,000.

Major decisions, including asset dispositions or borrowings exceeding $2,000,000 and litigation settlements above $500,000, require unanimous Management Committee approval. Neither party may transfer its interest without first offering a right of first refusal to the other, and any transferee must assume all obligations under the agreement.

The Weaver Gold Project, located in southwestern British Columbia’s East Harrison Lake Belt, has potential for orogenic gold-silver mineralization in structurally controlled quartz-carbonate vein systems. Historical exploration yielded results including up to 63.77 g/t gold and 2,009.44 g/t silver from trench sampling, and multiple drill intercepts with multi-gram gold and silver over metre-scale widths.

The 725-hectare property also offers secondary upside for magmatic nickel-copper sulphide mineralization, drawing parallels to the nearby Pacific Nickel (Giant Mascot) Mine. The Whitehead report concludes that Weaver Lake is a property of merit warranting continued exploration due to its geological setting, mineralization continuity, and untapped potential along strike and at depth.

Aurwest CEO Cameron MacDonald said the Weaver Gold Project is an exciting opportunity for Aurwest to enter the gold exploration sector in B.C.

Mr. David Bridge, P.Geo., an independent technical advisor to the Company, has reviewed and approved the scientific and technical information.

Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada.

Source: Aurwest Resources Corporation