Aurwest Resources Corporation (CSE: AWR), a Calgary-based junior resource company focused on gold and uranium exploration in Canada, has released a technical report prepared under National Instrument 43-101 on its Porter Lake uranium property in northern Saskatchewan's Mudjatik Domain. The report, effective October 30, 2026, was authored by independent Qualified Person Robert B. K. Shives, P.Geo., and identifies three historical uranium target areas across the 10,489.52-hectare property. The disclosure is significant for investors as it provides the first comprehensive technical account of Porter Lake and outlines a two-phase recommended exploration program totalling $2,093,520.

Key Points

  • Aurwest Resources Corporation (CSE: AWR) is a Canadian junior resource company exploring uranium and gold properties in Canada
  • The NI 43-101 technical report on the 10,489.52-hectare Porter Lake property in northern Saskatchewan carries an effective date of October 30, 2026
  • Historical samples returned up to 7,600 ppm U (0.90% U₃O₈) at Dragon Bay; the report contains no mineral resource or reserve estimate
  • Investors may watch for Aurwest's Phase One exploration launch, which would also satisfy its first-year expenditure commitment under the option agreement with Critical Path Minerals Corp.

Porter Lake Property Location and Option Structure

Porter Lake sits roughly 40 km west of the Key Lake Road and 136 km southwest of Cameco Corporation's Key Lake mill, approximately 100 km south of the Athabasca Basin's southern margin with no Athabasca sandstone cover. Aurwest holds an exclusive option, dated effective May 26, 2026, to acquire a 100% interest from Critical Path Minerals Corp. To exercise that option, Aurwest must issue units to CPM and incur $1,515,000 in exploration expenditures over two years, including $455,000 by the first anniversary. If exercised, CPM retains a 2.0% net smelter returns royalty, half of which Aurwest may repurchase for $1,000,000.

Historical Uranium Showings and 2025 Airborne Radiometric Survey Results

Three target areas — Porter Creek, Blackstone Lake, and Dragon Bay — anchor the exploration case at Porter Lake, lying up to approximately 17 km apart. Historical grab and trench samples returned up to 3,200 ppm uranium at Porter Creek, 3,200 ppm U at Blackstone Lake, and 7,600 ppm U at Dragon Bay. In 1955, six drill holes at Blackstone Lake reported narrow intervals of up to 0.21% U₃O₈ over 0.6 m. CPM's 2025 RAMP-HD helicopter-borne survey flew 594.9 line-km at 50 m spacing, with the highest equivalent-uranium readings falling within 90 m to 900 m of historical showings. The report notes the property is at an early exploration stage with no modern drilling completed.

Recommended Two-Phase Exploration Program and Deposit Models Considered

The technical report recommends a two-phase program totalling $2,093,520. Phase One ($803,220) includes a property-wide VTEM™ Plus time-domain electromagnetic and magnetic gradiometer survey, EM modelling, and approximately 25 days of helicopter-supported ground work. Completing Phase One would satisfy Aurwest's first-year expenditure commitment under the option agreement. Phase Two ($1,290,300), contingent on Phase One results, contemplates approximately 2,500 m of diamond drilling across all three target areas. The report considers the property prospective for basement-hosted uranium, pegmatite-hosted uranium, and potential rare earth element mineralisation, though no REE analyses are available from the property.