CALGARY, April 24, 2024 - Aurwest Resources Corp. ("Aurwest" or the "Company") (CSE:AWR) today reports the Company's financial and operational results for the fourth quarter and year ended December 31, 2023. For further information please see the Company's Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") filed on SEDAR+ at www.sedarplus.com under the Company's profile.
Further to filing the Company's Financial Statements and MD&A, the Company is pleased to provide an update on our quarterly operating highlights as set out below:
2023 Highlights
- Net loss for the year ended 2023 was $4,061,348 or ($0.04) per share. This includes a non-cash write off of asset in the amount of $3,467,631 on the Paradise Lake, Miguel Lake and Stellar Project.
- Cash used in operating activities, before changes in working capital for the year ended of $508,895.
- Reduced operating costs by 38% from $951,570 to $593,717 in 2023.
- The Company worked to minimize future capital obligation which will allow the Company to refocus its ongoing future exploration activities at its Stars Copper project in B.C.
- Consolidated cash and cash equivalents of $69,997 as at December 31, 2023.
For Additional Information Please Contact:
Cameron MacDonald
Telephone: (403) 585-9875
Email: cmacdonald@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 holds a 100% interest in the Stellar copper/gold project totaling 2,617 hectares plus an additional 3,762 hectares of contiguous claims at the Stars projects located approximately 65 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: additional exploration of the properties may not locate significant gold mineralization, the exploration program may not be completed as planned or at all; the Company may not be able to assemble a seasoned exploration team, the path finder elements may not be indicative of gold mineralization;; the Company's ability to raise additional funding to conduct exploration; receipt of permits to conduct the exploration plans and matters relating to the Company's future operations and business prospects; 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.
SOURCE: Aurwest Resources Corp.
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