Rapid Execution at Ameriwest's Bornite Copper Project Aims to Position the Company for a Maiden NI 43-101 Resource Estimate; Historical Core Now Under Active Re-logging; Five Additional Breccia Pipe Targets Identified; Xeno Rare Earth Project Fully Owned

VANCOUVER, BC / ACCESS Newswire / May 26, 2026 / Ameriwest Critical Metals Inc. (CSE:AWCM)(OTC PINK:AWLIF)(FSE:5HV) ("Ameriwest" or the "Company") is pleased to provide a corporate update on the advancements made across Ameriwest's North American critical minerals portfolio during Q2 2026. The Company is also pleased to announce that CEO David Watkinson will host a live investor presentation and Q&A webinar on June 4, 2026, at 1:00 PM Pacific Time.

Since closing the acquisition of the Bornite Copper Project in Oregon (the "Bornite Project") in late 2025, Ameriwest has executed a disciplined, accelerated exploration strategy at this 100%-owned asset. The Company is systematically advancing the technical work required to deliver a maiden NI 43-101 compliant mineral resource estimate on the Bornite Project, a milestone the Company believes will be transformative for shareholder value.

The Company has also secured full ownership of its Xeno Rare Earth Project in northern British Columbia ("Xeno"), a property with a considerable history of exploration including geological mapping, soil and rock chip sampling, and geophysics indicating the presence of yttrium and other rare earth minerals. Ameriwest is currently consolidating and digitizing historical data to define priority targets for future exploration.

David Watkinson, CEO of Ameriwest, stated, "The pace of our technical progress at Bornite over the past months has been exceptional. We have completed a 3D geological model from historical data that defines the geometry of the mineralized system, expanded our land position to capture district-scale exploration potential, identified five additional breccia pipe-style targets, and now have historical drill core under active re-logging at APEX Geoscience's Reno facility. We are executing the program we outlined to investors in February, and our goal is to validate the historical geological database, refine our 3D model, and design and execute a focused drill program that will support the completion of an initial current mineral resource estimate compliant with NI 43-101. We are operating in a macro environment where North American copper and rare earth assets have never been more strategically important, and we believe Ameriwest is exceptionally well-positioned to create significant value for our shareholders."

Q2 2026 Corporate Milestones

3D Geological Model Completed at Bornite

The Bornite Project is located approximately 50 miles east of Salem, Oregon, and hosts a copper-gold-silver mineralized breccia pipe (the "Bornite Pipe"). Mineralization is associated with a roughly cylindrical, vertically oriented, cigar-shaped pipe measuring approximately 450 feet in diameter and extending from surface to approximately 1,000 feet depth, where it remains open. Copper minerals, principally bornite and chalcopyrite, occur within the breccia matrix.

On March 3, 2026, Ameriwest announced the engagement of APEX Geoscience Ltd. ("APEX") to provide geological services to advance exploration of the Bornite Project. On April 20, 2026, the Company announced that APEX had completed a preliminary 3D geological model for the Bornite Project. The model is based on historical drill data from Amoco Minerals, Cypress Minerals, and Plexus Resources from core drilling conducted from the 1970s to the 1990s. The model defines three main mineralized domains within the Bornite Pipe, including a high-grade copper shell located on the outside of the pipe, a lower-grade interior pipe, and sheeted veins on the exterior of the pipe proximate to and outside the high-grade shell. The model identified expansion targets on the southeast and northwest flanks of the deposit as well as at depth, where step-out drilling could potentially expand the mineralized footprint.

Historical Core Re-logging and Multi-Element Assaying Commenced at Bornite

On May 20, 2026, the Company announced the commencement of a systematic core re-logging program at APEX's secure facility in Reno, Nevada. Approximately 30 pallets of preserved historical drill core, totaling approximately 41,702 feet, have been relocated from storage near Tonopah, Nevada, to APEX's Reno facility. APEX has commenced detailed geological logging, including verification of lithology and mineralization, collection of structural data, and core photography. APEX has identified priority drill holes CC03, CC09, CC15, CC16, CC17, CC26, and CC29 for initial re-logging to strengthen geological interpretation and support resource definition work.

The Company plans to selectively re-assay geologically significant intervals using a full-spectrum, multi-element assay approach, expanding beyond the historical copper, gold, and silver assays to better characterize the mineralized system. This approach may identify additional metals that were not assessed in the historical work, though there can be no assurance that any additional metals of economic significance will be identified.

The ability to re-log and re-assay the preserved core and to complete statistical analysis integrating historical data with new data is expected to accelerate Ameriwest's path to a NI 43-101 resource estimate, while at the same time reducing early-stage drilling requirements and timelines.

Bornite Property Expanded to 87 Claims Covering Approximately 1,740 Acres

On May 4, 2026, the Company announced the expansion of the Bornite Project land package from 34 to 87 unpatented mineral claims covering approximately 1,740 acres. The claim posts from 34 claims that had been destroyed by the 2020 Beachie Creek Fire were re-staked, and an additional 53 new claims were staked. This expanded claim block consolidates Ameriwest's control over the area surrounding the known Bornite Pipe and secures additional ground whose prospectivity has not been fully explored. Breccia pipes typically occur in clusters, and the strategic land expansion reflects management's conviction that the broader Bornite district may host additional breccia pipe-style targets.

Five Additional Breccia Pipe-Style Targets Identified at Bornite

On May 11, 2026, the Company announced that a review and compilation of historical soil sampling and geological mapping data had outlined five additional breccia pipe-style exploration targets in the northeast corner of the expanded claim block. These targets are spatially associated with historical copper-in-soil anomalies and mapped breccia occurrences documented by Amoco Minerals Company in the 1970s. The Company notes that the additional targets discussed herein remain unconfirmed and will require follow-up work to validate. The known Bornite Pipe is a compelling target in its own right and remains the Company's primary exploration target; however, these additional targets represent a pipeline of exploration opportunities that could enhance the overall scale of the project.

Figure 1. Expanded Bornite Project claim block showing the known Bornite breccia pipe, historical soil sample locations, and five additional breccia pipe-style exploration targets

Porphyry Potential Identified at Bornite

Additionally, the potential exists for a copper porphyry feeder system at depth, which may be the source of mineralization for the breccia pipes. While current exploration is focused on developing a mineral resource within the Bornite Pipe, future exploration will include deeper drilling to evaluate the potential for a porphyry deposit at depth.

100% Ownership of Xeno Rare Earth Project Secured

On March 18, 2026, Ameriwest fulfilled the terms of its option agreement and acquired a 100% interest in the Xeno Rare Earth Project in British Columbia. Xeno consists of two mineral claim units, totaling 784 hectares, located approximately 140 kilometres east of Dease Lake, B.C. Historical sampling indicates the presence of yttrium oxide, dysprosium oxide, europium oxide, lanthanum oxide, cerium oxide, and neodymium oxide. Yttrium is used in a range of advanced technologies and defence applications, including thermal barrier coatings for aerospace engines. Ameriwest is in the process of consolidating historical data on the property which includes geological mapping, soil and rock chip sampling, and geophysics. The Company plans to digitize this data and utilize it to develop exploration targets.

Recent Chinese export restrictions on heavy rare earth elements, including yttrium, have significantly disrupted U.S. supply chains and elevated the strategic importance of friendly-jurisdiction rare earth projects.

Near-Term Catalysts

The Company's immediate priority for the Bornite Project is to refine the 3D geological model and complete an internal block model using historical data to define the Bornite Pipe exploration target and design the drill program required to support an initial resource estimate. Following that, the Company will begin the permitting activities for the drill program and fast-track the program as quickly as possible. Concurrent with the permitting, Ameriwest plans to conduct geophysics to identify additional exploration targets. Following the modelling and geophysical work, the Company will complete a NI 43-101 Technical Report with recommendations on the scope and budgets for advancing the Bornite Pipe exploration target, other potential breccia pipe targets, and a potential copper porphyry feeder system at depth.

In parallel to the above work, Ameriwest plans to complete a program of re-logging and re-assaying of historical drill core. This will be followed by the confirmation drill program, which may overlap with the re-logging and re-assaying program. Once these two programs are completed, an updated geological model and block model will be completed for the Bornite Pipe. Subject to exploration success, these programs will form the foundation of a NI 43-101 Technical Report containing a maiden mineral resource estimate that meets current NI 43-101 and CIM Standards. The Company believes that combining the validated historical drill data with new confirmatory drill data will provide the geological confidence required to complete a current resource estimate. Depending on the timing of the respective work programs, the two Technical Reports described above may be consolidated into a single report.

The fact that copper is designated as a critical metal in the U.S. may have a direct impact on the Company's ability to fast-track the development of the Bornite Project. The property may qualify for Fast-41 permitting status. In addition, the Company will explore opportunities to access U.S. government funding that may be available for critical metals projects as the Bornite Project advances.

At the Xeno Rare Earth Project, Ameriwest plans to consolidate historical data on the property, including geological mapping, soil and rock chip sampling, and geophysics. This data will be digitized and utilized to develop initial exploration targets, laying the groundwork for future field programs.

Live CEO Investor Webinar and Q&A Session

Ameriwest is pleased to invite shareholders, investors, analysts, and other interested parties to a live corporate presentation and Q&A session with CEO David Watkinson.

During the webinar, Mr. Watkinson will present an overview of the macro critical minerals environment, the technical advancements at the Bornite Project and the Company's strategic roadmap. The presentation will be followed by a live Q&A session during which Mr. Watkinson will address questions from participants. Participants are strongly encouraged to submit questions in advance during the registration process to ensure all topics of interest are addressed.

The Company believes that direct, transparent communication with its shareholders and the broader investment community is a cornerstone of responsible corporate governance and a key driver of long-term value creation. This webinar represents an opportunity for the investment community to engage directly with management at a pivotal moment in the Company's development.

Qualified Person Statement

David Watkinson, P.Eng., a non-independent qualified person under NI 43-101, has reviewed and approved the scientific and technical information contained in this news release. Mr. Watkinson is the CEO and a director of Ameriwest.

About Ameriwest Critical Metals Inc.

Ameriwest is an exploration company focused on identifying and advancing strategic critical mineral projects for exploration and resource development. The Company is currently advancing its Bornite copper-gold-silver property in Oregon, its Xeno rare earth property in British Columbia, and its Thompson Valley lithium clay property in Arizona. Ameriwest also owns a lithium clay property in Clayton Valley, Nevada, and is in the process of optioning its Railroad Valley lithium brine property in Nevada to Pure Energy Minerals Limited.

For more information on the Company, investors should review the Company's filings available at www.ameriwestcriticalmetals.com or www.sedarplus.ca.

On Behalf of the Board of Directors

David Watkinson
Chief Executive Officer and Director

For further information, please contact:

Ameriwest Critical Metals Inc.
Tel: (416) 918-6785
Email: info@ameriwestcriticalmetals.com

The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute forward-looking information within the meaning of applicable securities laws. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information in this news release includes, but is not limited to, statements regarding the prospectivity of the Bornite claim block, the possibility that the Property may host breccia pipe-style targets, and the Company's plans to undertake continued historical data compilation, mapping, geophysical work, target ranking and follow-up exploration, including drilling. Such forward-looking information is based on a number of material factors and assumptions, including, without limitation, the Company's current interpretation of available historical information; the continuing compilation and digitization of historical records; the availability of financing, contractors and equipment; the receipt of any required permits and approvals; and the Company's ability to carry out its exploration plans as currently contemplated. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially, including risks relating to the interpretation of historical information, exploration results, the possibility that additional targets may not be confirmed, permitting, market conditions, and the availability of financing and services. The Company believes the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that such expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information except as required by applicable securities legislation.

SOURCE: Ameriwest Critical Metals