Mr. David Watkinson reports

AMERIWEST AWAITS BORNITE CORE ASSAY RESULTS AND PROVIDES Q3 2026 CORPORATE UPDATE

Ameriwest Critical Metals Inc. has provided a technical update on the company's 100-per-cent-owned Bornite copper-gold-silver project in Oregon, as well as other third quarter 2026 corporate developments.

Bornite update

Since its May 26, 2026, corporate update, Ameriwest has continued a multifaceted program to 1) organize, review and evaluate an extensive body of historical technical information from the Bornite project including geological modelling; 2) relog and photograph historical drill core; 3) reassay selected drill core from historic drilling completed at the project between the 1970s and the 1990s; and 4) design and permit an exploration program at Bornite. The company recently submitted samples from selected drill core intervals for modern multielement assay analysis and is awaiting assay results.

David Watkinson, president and chief executive officer of Ameriwest, commented:

"When Ameriwest acquired Bornite, one of the most attractive aspects of the project was the availability of the historic core that could be relogged and reassayed to support verification of the historical assay database so it could be used for resource modelling. In addition, we acquired a substantial quantity of other historical technical work that guides our current exploration efforts. While historic assaying principally focused on copper, gold and silver, the reassaying will evaluate multiple metals, including rare earths. The program will improve our understanding of the broader geochemical characteristics of the Bornite mineralized system."

Review of historical information

Apex Geoscience Ltd. was retained in March, 2026, to assist with the data compilation and digitization, and the review of technical information related to Bornite. Apex completed a preliminary geologic model for Bornite, based on this historic information, in April, 2026. On June 3, 2026, Ameriwest released a summary of significant intercepts at Bornite from the historical assay database.

Relogging of historic drill core

In May, 2026, Ameriwest announced that approximately 30 pallets of preserved historical drill core associated with the Bornite project had been relocated to Apex's secure facility in Reno, Nev., for geological relogging, photography and selective resampling. In August, 2026, Apex completed detailed relogging and review of all available preserved core. This work included examination of lithology, mineralization, geological contacts, alteration and other geological features relevant to the company's continuing interpretation of the Bornite mineralized system. Copper mineralization at Bornite occurs primarily as bornite, chalcopyrite and tourmaline.

Reassaying of historic drill core

From this work, Apex selected core intervals from multiple drill holes for reassaying, which have all been sent to an assay laboratory in Reno. Reassaying selected drill core is an important next step in evaluating the historical assay database acquired by Ameriwest with Bornite. Historical assaying focused on copper, gold and silver. The current reassaying is intended to provide data across a broader suite of metals, including rare earths. Ultimately, the new analytical data will be analyzed with the goal of statistically validating the historical Bornite assay database. This database, along with the new analytical data, will be used for future resource modelling.

Based on the extent and condition of the preserved core and the quality of the historical technical information reviewed to date, Apex and Ameriwest believe that the existing data set may, subject to completion of the current reassay program, data verification, QA/QC review, and appropriate geological and statistical evaluation, provide sufficient technical support for preparation of an initial current mineral resource estimate that meets National Instrument 43-101 and Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) standards.

Note that there is no current mineral resource or mineral reserve defined at the Bornite project. There is no assurance that the continuing verification and analytical work will result in delineation of a current mineral resource. Additional drilling may be necessary to achieve this.

Community engagement

In June, 2026, Ameriwest launched a formal community and stakeholder engagement program for Bornite. The program is intended to establish early communication with local communities, tribal nations, government agencies, land users and other interested parties while the project remains at an early stage of modern exploration. Ameriwest intends to continue engagement in parallel with its exploration and technical work, so that relevant environmental, social, cultural, access and land-use considerations can be incorporated into future exploration programs and applicable permitting processes.

Mr. Watkinson stated:

"Technical work is only one component of responsible project advancement. Beginning stakeholder engagement early gives the company an opportunity to listen, understand local priorities and incorporate that information into our planning before significant future field programs are undertaken."

Next steps at Bornite

Ameriwest's immediate priority at Bornite is to advance selected historical drill core through modern multielement laboratory analysis and integrate those results with the historical assay database and existing 3-D geological model. Following receipt and evaluation of these analytical results, the company will determine whether the available data are sufficient to prepare an initial mineral resource estimate at Bornite, in accordance with National Instrument 43-101 and CIM standards. In parallel with this work, Ameriwest plans to design and permit an initial drill program at Bornite, which may be needed to complete an initial resource estimate. The ultimate goal is to prepare an initial mineral resource estimate and a supporting technical report in accordance with NI 43-101.

U.S. market access

On June 11, 2026, the company's common shares commenced trading on the OTCQB Venture Market in the United States under the symbol AWLIF. Ameriwest's common shares continue to trade on the Canadian Securities Exchange under AWCM and on the Frankfurt Stock Exchange under 5HV. The OTCQB quotation provides an additional market through which U.S. investors can access Ameriwest securities while the company advances its North American critical metals portfolio.

Railroad Valley transaction

On Aug. 24, 2026, Ameriwest announced that it had entered into a non-binding letter of intent with Pure Energy Minerals Ltd. concerning the proposed sale of Ameriwest's Railroad Valley lithium property in Nevada. Under the proposed transaction, Pure Energy would issue eight million common shares to Ameriwest and grant Ameriwest or its designee a 2.0-per-cent net smelter returns royalty on the claims, including an area of influence within a one-mile perimeter of the boundary of the claims. The transaction remains subject to execution of a definitive agreement and regulatory approval.

Qualified person statement

David Watkinson, PEng, 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 chief executive officer and a director of Ameriwest.

About Ameriwest Critical Metals Inc.

Ameriwest is an exploration company focused on identifying and acquiring 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, Nev., and has entered into a non-binding letter of intent with Pure Energy Minerals Ltd. for the proposed sale of its Railroad Valley lithium brine property in Nevada.

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