Aurwest Resources Acquires 100% Interest in Stars Porphyry Cu-Mo Property

Aurwest Resources Corporation announced that it has purchased the remaining 50% interest in the Stars Porphyry Cu-Mo Property from M3 Metals, giving it 100% ownership of the property.

The Stars property includes an early porphyry copper-molybdenum discovery covering 3,761 hectares adjacent to Aurwest's Stellar property in central British Columbia.

Aurwest acquired the seller's 50% interest in the Stars property and an additional adjacent property by way of a purchase and sale agreement. The terms of the transaction include a cash payment of C$450,000 at closing, 1,500,000 common shares and a 2% net smelter return to the seller. Aurwest has the right to repurchase the 1% royalty at any time for consideration of US$C1,000,000. The common shares issued for the acquisition will be held in escrow and released in equal quarterly installments over the next 12 months.

The acquired Stars Porphyry Cu-Mo Property consists of four claims (3,761 hectares) located on the Omineca property, approximately 40 kilometers southwest of Houston, British Columbia. The property is located at UTM coordinates 612,900 mE and 6,010,400 mN.

The Stars property has been explored intermittently since the early 1970's. Historical exploration has included mapping, sampling, prospecting, airborne and surface magnetic surveys, induced polarization surveys, and a number of reverse circulation and diamond drilling programs.

The most recent drilling on the Stars Porphyry Cu-Mo Property was completed during 2018-2019 and included 16 diamond drill holes totaling 6,472 meters. The mineralized zone was intersected within an area approximately 700 meters long, 300 meters deep and 700 meters wide. The mineralized zone remains open in several directions and down dip.

Porphyry-type mineralization includes vein and disseminated chalcopyrite/porphyry, as well as quartz-veined pyromorphite, and low but significant concentrations of gold and silver. Significant amounts of molybdenite occur during copper and silver mineralization. For example, a core interval of 208.12 m to 407.83 m (199.05 m) at DDH18SS010 produced a weighted average of 132 ppm or 0.0132% molybdenum.

The core interval from 163.98 m to 356.01 m (192.03 m) in DDH18SS015 yielded a weighted average of 112 ppm (0.011% molybdenum).

Aurwest Resources plans to compile all historical exploration data, including a database of validation analyses and 3D modeling of copper-molybdenum mineralization. The 3D modeling is expected to expand the extent of the mineralized zones and confirm the direction and scale of the proposed deep penetration geophysical survey to map the chargeability and resistivity characteristics of the mineralized zones and potential extensions. These work programs will be used to prepare a comprehensive exploration program and budget to continue exploration on the larger Stellar/Stars property package.

Aurwest Resources is a Canadian-based junior resource company focused on the acquisition, exploration and development of gold properties in Canada. The Company currently has three option agreements to acquire a 100% interest in the Paradise Lake and Stony Caldera projects, which cover a 47,800 hectare (478 square kilometer) gold exploration license package in the emerging gold district of central Newfoundland. The Company also currently holds a 100% interest in the 28,294 hectare Stellar porphyry copper project, located approximately 25 km southwest of Houston, British Columbia.

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