CSE: AWR CORPORATE PRESENTATION · MAY 2026
Aurwest
Resources Corp. · CSE: AWR

Precision exploration in Canada's Tier‑1 jurisdictions.
Saskatchewan uranium. British Columbia gold.

Listing
CSE: AWR
Headquarters
Calgary, AB
Primary asset
Porter Lake, SK
Web
aurwestresources.com
02DISCLAIMER 02 / 18

Forward‑looking statements & disclosure

Important information for investors.

02 / 18
03INVESTMENT THESIS 03 / 18

Why own Aurwest

A capital‑efficient, uranium‑led critical minerals junior
in Canada's best mining jurisdictions.

01
The macro
Structural uranium deficit.
Global nuclear capacity targets triple by 2050. SMRs, AI/data‑center power, and energy security drive consumption. Primary supply is stuck behind 10+ year lead times and Kazakh concentration risk.
02
The jurisdiction
Saskatchewan, Tier‑1.
15–20% of global uranium production. Predictable, mining‑friendly framework. Major Projects Office fast‑track for critical minerals.
03
The portfolio
Two properties, two commodities.
Porter Lake (SK uranium): 10,490 ha on the Wollaston‑Mudjatic trend with three drill‑ready targets already isolated. Weaver Lake (BC gold‑silver): a high‑grade orogenic vein system operated by Pacific Bay Minerals.
04
The leadership
Operators who have built before.
CEO has raised >$300M equity and >$650M debt in public markets. Board and advisors carry public‑company, discovery, and mine‑development track records across Canada and globally.
03 / 18
04THE MACRO 04 / 18

The uranium opportunity

Demand is rising, supply is stuck.
The deficit is structural, not cyclical.

2025 demand
~180Mlb
Global reactor demand for U₃O₈.
Primary supply
~160Mlb
Plus ~25 Mlb declining secondary.
2040 demand
~400Mlb
WNA reference scenario — more than 2× today.
Mine lead time
10+ yrs
Discovery to first pound. Supply cannot respond quickly.
Global U₃O₈ supply vs. demand · Mlb per year
0 100 200 300 400 2025 2028 2031 2034 2037 2040 Demand (WNA reference) Primary + secondary supply Structural deficit zone
Sources: World Nuclear Association Nuclear Fuel Report (2025); UxC; Sprott market commentary. Reference scenario.
04 / 18
05THE JURISDICTION 05 / 18

Saskatchewan

A Tier‑1 uranium jurisdiction with a roster of producing supermajors on trend.

15–20%
of global uranium production sits in Saskatchewan.
$3.2B
2025 SK uranium sales, up 24% year‑over‑year.
Predictable
permitting
Mining‑friendly framework, decades‑long operator presence, established Indigenous partnerships.
Fast‑track
MPO
Major Projects Office support for critical minerals; CMETC / SMETC / TMEI flow‑through stack.

Operators on the trend

Cameco
McArthur River · Cigar Lake JV · Key Lake · Rabbit Lake
Orano
Cigar Lake JV · Cluff Lake
Denison
Wheeler River · McClean Lake
NexGen
Arrow (Rook I)
Paladin
Triple R (Patterson Lake South)
IsoEnergy
Larocque East

Sources: Government of Saskatchewan; company disclosures (2025).

05 / 18
06THE ASSET · PORTER LAKE 06 / 18

Porter Lake, Saskatchewan

10,490 hectares on the southwest Wollaston‑Mudjatic transition zone, on trend with the basin's largest discoveries.

Location
40 km W of Hwy 914
50 km NE of Patuanak, SK
Size
10,490 hectares
four MC licenses
Licenses
MC00018830 · MC00018836
MC00018838 · MC00018844
Geology
Wollaston‑Mudjatic transition
Porter Lake dome
Models
Rossing‑type granitoid
+ classic fault‑hosted
Location
40 km W of Hwy 914 · 50 km NE of Patuanak
Size
10,490 ha · four MC licenses
Geology
Wollaston‑Mudjatic transition · Porter Lake dome
Models
Rossing‑type granitoid + classic fault‑hosted
Athabasca Basin peer operations map
Athabasca peer operations · Porter Lake property circled south‑west. Source: company technical reports (2024–2026).
Aurwest Porter Lake 2025 grid survey — eU (ppm)
2025 grid survey, eU (ppm) · Porter Creek, Blackstone & Dragon zones · NAD83(CSRS) UTM 13N · 1:125,000.

Peer reserves on trend

Denison — Wheeler River Phoenix
56.7 Mlb U₃O₈
11.7% avg grade · P&P
NexGen — Arrow Rook I
239.6 Mlb U₃O₈
2.37% avg grade · P&P
Cameco — McArthur River
391.5 Mlb U₃O₈
6.92% avg grade · P&P
UEC — Roughrider
58.0 Mlb U₃O₈
1.98% avg grade · M&I

Peer reserves on trend

Denison — Wheeler River (Phoenix)
56.7 Mlb U₃O₈
11.7% · P&P
NexGen — Arrow (Rook I)
239.6 Mlb U₃O₈
2.37% · P&P
Cameco — McArthur River
391.5 Mlb U₃O₈
6.92% · P&P
UEC — Roughrider
58.0 Mlb U₃O₈
1.98% · M&I
06 / 18
07THE GEOLOGY 07 / 18

Two deposit models, one property

Porter Lake hosts both classic Athabasca fault‑hosted targets and large‑scale Rossing‑type granitoid targets.

Model A
Rossing‑type
granitoid.
SURFACE GRANITOID
Characteristic
Uranium hosted in large granitic formations. Large scale; low to medium grade. Global Rossing‑type deposits typically grade 0.04–0.07% U₃O₈.
Why Porter Lake fits
Porter Creek surface samples already grade up to 0.58% U₃O₈ — an order of magnitude above the global Rossing range — across a 2.9 km exposed granitoid corridor.
Model B
Fault‑hosted
(Athabasca).
UNCONFORMITY BASEMENT
Characteristic
Concentrated uranium along shear zones, faults, and electromagnetic conductors. The classic high‑grade discovery model that built the Athabasca basin legacy.
Why Porter Lake fits
Historical EM conductors run through Blackstone and Dragon. 1950s drilling at Blackstone hit 0.20% U₃O₈ over 1 ft but missed the main conductor. RAMP‑HD 2025 mapped uranium directly along that conductor.
07 / 18
08DE‑RISKING 08 / 18

RAMP‑HD on Porter Lake

High‑resolution radiometric work narrowed ten candidate areas to three drill‑ready targets.

103

Helicopter‑borne gamma‑ray spectrometry mapping U, Th and K signatures at 50 m grids. Zero ground footprint. Survey completed September 2025; Aurwest steps in past the airborne phase, with capital and time savings on the path to drilling.

Screened
10
Drill‑ready
3
Completed
Sept 2025
Porter Creek
Continuous U / Th in exposed granitoid across a 2.9 km corridor.
Rossing-type
Blackstone
Uranium mapped directly along the EM conductor the 1950s drill missed.
Conductor
Dragon
Granitoid + lake-edge anomalies on a max-min conductor.
Dual
08 / 18
09THE TARGETS 09 / 18

Three targets, three independent stories

Each target has its own geological merit, historical evidence, and a defined Phase 2 drill allocation.

 
Porter Creek
Blackstone
Dragon
Target profile
Rossing‑type granitoid
Dual‑threat
granitoid + conductor
Dual‑threat
granitoid + conductor
Hero historical grade
0.58% U₃O₈
1979–80 trench
0.20% U₃O₈
over 1 ft, 1950s drill
0.90% U₃O₈
rock sample
RAMP‑HD 2025 finding
Continuous U/Th in exposed granitoid
U mapped along 1970s EM conductors
U/Th on granitoid and along the lake edge
Geological hypothesis
Rossing‑type granitoid
Conductor missed in historical drill
Two anomaly clusters, two stories
Phase 2 drill
1,000 m
750 m
750 m
09 / 18
10THE ASSET · PORTER CREEK 10 / 18

Porter Creek · Flagship drill target

Surface samples grading up to 0.58% U₃O₈ across a 2.9 km corridor.

Peak surface grade
0.58%
U₃O₈ (4,900 ppm U) from 1979–80 trenching — an order of magnitude above the global Rossing‑type range, along a 2.9 km mineralized corridor.

Historical 1979–80 trenching returned up to 0.58% and 0.38% U₃O₈, while McDougall Claim samples from the same area reported up to 0.49% U₃O₈ (9.8 lbs/ton). RAMP‑HD 2025 confirmed continuous U/Th signatures in exposed granitoid, consistent with a Rossing‑type granitoid hypothesis.

Phase 2
1,000 m diamond drill program targeting the highest‑grade segment of the corridor.
RAMP‑HD radiometric, Porter Creek · September 2025.
10 / 18
11THE ASSET · BLACKSTONE 11 / 18

Blackstone · Conductor target

RAMP‑HD maps uranium directly along the EM conductor a 1950s drill missed by metres.

Peak rock sample
0.38%
U₃O₈ (3,200 ppm U) at surface, with six samples averaging 0.17% U₃O₈ (1,465 ppm U) along the contact.

A 1950s drill hole intersected 0.20% U₃O₈ over 1 ft but missed the main electromagnetic conductor identified later. Historical 1979 trenching returned rock grades up to 0.38% U₃O₈ (3,200 ppm U). RAMP‑HD 2025 mapped continuous uranium signatures along the conductor itself, vindicating the conductor‑hosted hypothesis.

Phase 2
750 m drill program directly testing the conductor.
RAMP‑HD radiometric, Blackstone · September 2025.
11 / 18
12THE ASSET · DRAGON 12 / 18

Dragon · Dual‑threat target

Two anomaly clusters, two independent drill stories on one target.

Peak rock sample
0.90%
U₃O₈ (7,600 ppm U); scintillometer readings up to 25,000 cps.

RAMP‑HD 2025 identified two distinct anomaly clusters: U/Th signatures in exposed granitoids similar to Porter Creek (Rossing‑type), and uranium pooled along the lake‑edge near a max‑min conductor (classic fault‑hosted). Rock and soil geochemistry support both hypotheses.

Phase 2
750 m drill program testing both anomaly clusters.
RAMP‑HD radiometric, Dragon · September 2025.
12 / 18
13THE PORTFOLIO 13 / 18

Weaver Lake, British Columbia

Gold‑silver optionality on a high‑grade orogenic vein system, operated by Pacific Bay Minerals.

Peak Au
63.77g/t
Peak Ag
2,009g/t
Property size
725ha
Earn‑in
50% over 3 yrs
Transaction
Optioned from Pacific Bay Minerals (TSXV: PBM)
Definitive option and joint venture agreement executed April 14, 2026. Aurwest can earn up to a 50% undivided interest over three years through cash payments, share issuances, and exploration work commitments. Pacific Bay operates the project.
Upon Aurwest satisfying all option payments and work commitments, the parties automatically form a 50/50 joint venture.
Geology & setting
East Harrison Lake Belt, BC
Orogenic gold‑silver mineralization in structurally controlled quartz‑carbonate vein systems. Multi‑gram Au/Ag drill intercepts over metre‑scale widths; trench sampling up to 63.77 g/t Au and 2,009.44 g/t Ag.
Secondary upside in magmatic Ni‑Cu sulphide (Pacific Nickel / Giant Mascot analogue). Year‑round access via paved highway and forestry road.
Source: Aurwest news release, April 14, 2026. Property subject to a 3.0% NSR royalty.
13 / 18
14THE PLAN 14 / 18

Work program and capital plan

A staged path from option signing to drill results across both properties.

 
Q3 '26
Q4 '26
Q1 '27
Q2 '27
Q3 '27
Q4 '27
Porter LakeSaskatchewan · Uranium
Phase 1 · VTEM + ground verification
Phase 2 · 2,500 m drill program
Weaver LakeBritish Columbia · Au‑Ag · Pacific Bay operator
Y1 commitments · $115K cash + shares + work
Y2 commitments begin
Catalysts
VTEM complete
Drill start · Q2'27e
Assay results
NI 43‑101 update
Porter Lake · Phase 1
$455K
Porter Lake · Phase 2
$1.06M
Weaver Lake · Y1
$115K
Total Y1–Y2 commitment
$1.63M
14 / 18
15THE TEAM 15 / 18

Leadership

Public‑company operators with capital markets, exploration, and discovery track records.

Interim CEO, CFO & Director
Cameron MacDonald
18+ years capital markets.
Founder/CEO Macam Group. Raised >$300M equity and >$650M debt since 2002. President & CEO Decimus Oil Corp. (TSXV:WCSB); Director of Neotech Metals, Pacific Bay Minerals, New Energy Metals.
Independent Director
Scott Hurd
CFA · B.Comm Finance, U of Calgary · 15+ years.
Investor and entrepreneur in capital markets, private equity and resource/infrastructure. Began at CIBC Capital Markets and Macquarie Metals & Energy Capital. >$1B institutional capital deployed.
Independent Director
Reagan Glazier
B.Sc. Geology, U of Calgary · ~20 years.
Northern BC native; gold, copper, base‑metal and rare‑earth exploration across N. and S. America. CEO & President Neotech Metals (CSE:NTMC); Director of Freegold Ventures, Pacific Bay Minerals, Eastfield Resources.
Independent Director
Colin Christensen
B.Comm, U of Calgary · 35+ years.
10 years as a financial advisor, 25+ as director/officer of TSXV resource companies. Mineral exploration in Eastern Europe; financing and development of two heap‑leach gold mines in Kazakhstan.
Technical Advisor
Elmer Stewart
42 years in gold, uranium, base metals & copper.
Chairman, CEO & President Copper Fox Metals (TSXV:CUU); Director Liard Copper Mines. Built two underground mines and three open‑pit gold mines. Copper Fox rep on the Schaft Creek JV with Teck Resources.
15 / 18
16CAPITAL STRUCTURE 16 / 18

Capital structure

Tight share count, strategic Sprott anchor, aligned management ownership.

117.4M SHARES O/S
Public float73.8%
Mgmt & Directors14.1%
Eric Sprott12.1%

As of May 5, 2026

Basic issued & outstanding
117,404,801
Stock options
6,000,000
Warrants
7,725,000$0.05 strike · from recent P.P.
Fully diluted
131,129,801
Insider & strategic ownership
26.2%
Management, Directors and Eric Sprott combined — aligned with shareholders from day one.
16 / 18
17WHY INVEST 17 / 18

Five reasons to own Aurwest

Capital‑efficient access to two Tier‑1 Canadian critical‑minerals assets, drill‑ready targets in hand, and a team that has built and financed before.

01
Saskatchewan is the address.
World‑class uranium geology paired with mining‑friendly regulation and active producer infrastructure.
02
Porter Lake offers two ways to win.
Dual‑deposit geology covers both Rossing‑type granitoid and classic Athabasca fault‑hosted targets on one property.
03
Three targets already drill‑ready.
RAMP‑HD work in 2025 narrowed ten candidate areas to three. We step in past the airborne phase.
04
Weaver Lake adds gold optionality.
High‑grade BC gold‑silver asset with Pacific Bay Minerals operating, so Aurwest carries low operational overhead.
05
Operators who have done this before.
CEO has raised >$950M in public capital. Board and advisors bring discovery and mine‑build experience across Canada and globally.
17 / 18
CSE: AWR aurwestresources.com
Thank you.Let's talk.

Precision exploration in Canada's Tier‑1 jurisdictions. Saskatchewan uranium. British Columbia gold.

Email
cmacdonald@aurwestresources.com
Telephone
(403) 585‑9875
Head office
Calgary, AB
Web · disclosure
aurwestresources.com
SEDAR+ · CSE: AWR