Aurwest Resources Reports Second Quarter June 30, 2022 Operating Results

Calgary, Alberta--(Newsfile Corp. - August 26, 2022) - Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is pleased to announce that the Company has filed its second quarter June 30, 2022 financial statements ("Financial Statements"), management's discussion and analysis ("MD&A"), and quarterly certifications for the three month period ended June 30, 2022.

Colin Christensen, the Company's President & Chief Executive Officer stated, "Aurwest is currently in the process of expanding the footprint in our extensive property land position in Central Newfoundland. We've completed Phase 2 of our drilling program which included seven holes (1,050m) and we are expecting assay results over the next couple of weeks. Geologists are currently opening up new areas for field exploration approximately 4.5km northwest of the Twin Pond area, where extensive mapping and sampling is taking place."

SECOND QUARTER JUNE 30, 2022 OPERATING HIGHLIGHTS

  • Working capital was $0.864 million for the second quarter ending June 30, 2022, which will fund our ongoing 2022 field exploration programs.

  • On April 4, 2022 the Company announced it had retained Renmark Financial Communications Inc to handle investor relations for a period of three months ending June 30, 2022,

  • On April 5, 2022 the Company announced the completion of Phase 1 drillholes PL-05-2022 to PL-10-2022 to further test along the 2,800m strike length of the interpreted Cape Ray-Valentine Lake Structural Zone,

  • On May 27, 2022 the Company announced drill results from PL-22-01 which had intersected 2.50 g/t Au over 3.4 meters, including 6.20 g/t Au over 0.9 meters,

  • On June 13, 2022 the Company announced that drillhole PL-22-07 had intersected 3.57 g/t Au over a core interval of 1.1m, including 7.75 g/t Au over 0.5 meters and a separate interval of 5.99 g/t Au over a core interval of 0.5m. The Phase 2 drilling program was also initiated.

Subsequent to the end of the quarter;

  • On July 5, 2022 the Company announced the completion of the Phase 2 drill program including seven holes in 1,050 meters,

  • On August 11, 2022 the Company announced it had acquired an additional 9,800 hectares of mineral claims in Central Newfoundland adjoining the north boundary of the Stony Caldera property, and

  • On August 17, 2022 announced that it had identified new gold targets returning up to 4.04 g/t Au and 5.27 g/t Ag in outcrop along a new zone approximately 4.5km northwest of the Twin Pond Phase 2 drilling location.

On Behalf Of Aurwest resources Corporation

"Colin Christensen"
President and Chief Executive Officer

For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: cchristensen@aurwestresources.com
Website: www.aurwestresources.com

About Aurwest Resources Corporation

Aurwest 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 earn a 100% interest in Paradise Lake and Stony Caldera projects covering a 57,600-hectare (576 sq kms) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company also currently holds a 100% interest in the 28,294-hectare Stellar/Stars porphyry copper project, located approximately 25 kilometers southwest of Houston, British Columbia.

Forward-Looking Information

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements." Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134991

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