Norwest Minerals Limited announced it has received the assay results for the 33 reverse circulation (RC) drillholes (3,886m) completed at its 100% owned, Bali Copper Project in Western Australia. The Bali Copper Project comprises approximately 8 kilometres of the Bali shear zone; a major structure extending through the region and hosting numerous copper and other base metal prospects. The RC drilling targeted four priority prospects, with many of the holes returning wide copper intercepts grading 0.2% with 16 individual metres assaying 3% copper and the highest being 11.2% Copper.

Maiden RC drilling intersects wide zones of copper mineralization: Norwest Minerals completed drilling 33 RC holes totaling 3,886 metres that targeted four priority prospects along the Bali Shear structure. These included the Bali Lo and Bali High copper prospect which saw small-scale mining in the 1960s followed by shallow RAB, percussion, and RC drilling in the 1980s. The historical drilling intersected copper mineralisation including 12m at 3.6% Cu from surface and 6m at 7.2% Cu from 17m.

There has been no drill testing at the Bali East or Bali South prospects. The copper and precious metal assay results for Norwest's maiden RC drilling have been received and show wide drill intersections at each of the four prospects. Norwest are now reviewing various geophysical exploration tools to identify further copper and other base metal mineralisation located along the Bali shear as discussed below.

Bali Lo: RC hole BRC001 (52m at 1.4% Cu from 0m inc. 12m at 4.4% Cu from 4m) was drilled parallel to historical hole CL1A. Both holes were logged as being drilled down the dip of the strong near-surface copper mineralisation which occurs along the sandstone- siltstone contact of the Capricorn group which overlies the shales of the Ashburton formation. Hole BRC003, was drilled through the Capricorn group and into the Ashburton formation shales thus crossing the mineralised trend at approximately 75m deep without encountering significant copper.

Bali High: Bali High remains open to the southeast and is the only prospect to return significant tenor for multiple elements being copper (Cu), lead (Pb), zinc (Zn) and silver (Ag). The mineralisation intersected in holes BRC016, BRC031 and BRC032 is described as semi massive chalcopyrite-galena-sphalerite in intensely silicified siltstone. The mineralisation intersected in hole BRC016 occurs at the contact between the Ashburton shale and Capricorn group sandstone and is open down dip.

BRC015 - 4m at 0.4% Cu from 83m including 2m at 1.6% Pb & 26 g/t Ag. BRC016 - 5m at 1.5% Cu, 5.5% Zn from 35m including 4m at 8.0% Pb and 3m at 90 g/t Ag. BRC031 ¡ 2m at 0.4% Cu, 1.5% Pb, 1.1% Zn and 17 g/t Ag from 67m.

BRC032 ¡ 4m at 0.6% Cu, 2.1% Pb and 0.8% Zn and 21 g/t Ag from 107m. Bali East: The RC drilling at Bali East prospect intersected relatively wide zones of copper mineralisation. The copper mineralisation appears to be open along the Bali shear to the southeast with potential for additional copper mineralisation occurring along the 2-kilometre extent between Bali East and tenement's western boundary.

BRC018 ¡ 17m at 0.5% Cu from 3m. BRC019 ¡ 4m at 0.3% Cu from 4m and 4m at 0.3% Cu from 17m. BRC021 ¡ 19m at 0.3% Cu from 35m and 2m at 0.7% Cu from 74m.

BRC022 ¡ 13m at 0.8% Cu from 21m inc. 4m at 1.4% and 17m at 0.9% Cu from 39m inc. 5m at 1.1% Cu. BRC033 ¡ 11m at 1.0% Cu from 17m and 15m at 0.6% Cu from 32m. Bali South: The Bali South prospect (Figure 5 above) is not located on the Bali shear but on a parallel structure to the southwest similar to the narrow structures being mapped and rock chip sampled in the nearby Deep South area.

The Bail South prospect returned relatively wider copper intersections in holes BRC025 & BRC027 with the mineralisation hosted within the Ashburton siltstones. However, the Bali South mineralization appears to be dipping at a much flatter orientation than the steeply dipping mineralisation drilled along the Bali shear zone to the north. BRC025 ¡ 29m at 0.7% Cu from 4m including 1m at 5.0% Cu.

BRC027 ¡ 15m at 1.0% Cu from 10m including 7m at 1.7% Cu and 2m at 4.0% Cu. Downhole Geophysical Work: A trial Downhole electromagnetic survey (DHEM) was undertaken in October 2022 on five of the new Bali RC holes being BRC004, BRC016, BRC018, BRC022 and BRC025. DHEM surveys are used to detect `electrical conductors', which in a geological context tend to be stringer, semi-massive to massive textured (i.e., electrically connected) sulphide mineralisation or carbonaceous, graphitic or sulphidic schists.

Data analysis by Southern Geoscience Consultants showed limited magnetic anomalism which was surprising considering massive sulphides were intersected in hole BRC016. The results rule out EM as an effective exploration technique. Further geophysical work being considered by Norwest include induced polarization (IP) and Sub-audio magnetics (SAM).

Recent geophysical work along the SE extension of the Bali shear by neighboring explorers TechGen Metals, has shown IP to be useful in identifying copper mineralization drill targets. The aim of SAM would be to map conductive portions of the shear system. SAM has the ability to map subsurface conductivity at high resolution and may highlight prospective portions of the shear system.

The use of IP and/or Sam is also being considered for the Deep South area.