Mr. William Morton reports

PURE ENERGY MINERALS ENTERS INTO LOI TO ACQUIRE RAILROAD VALLEY LITHIUM BRINE PROPERTY IN NEVADA

Pure Energy Minerals Ltd. has entered into a non-binding letter of intent dated Aug. 20, 2026, with Ameriwest Critical Metals Inc. Under the terms of the LOI, Pure Energy will acquire a 100-per-cent interest in Ameriwest's Railroad Valley property located in Nye county, Nevada.

The property consists of 213 unpatented mineral claims covering a prospective lithium brine target in the prospective Railroad Valley basin.

Terms of the transaction

Upon closing, consideration for the transaction will consist of the following:

1. Share consideration: Pure Energy will issue eight million common shares of the company to Ameriwest at a deemed price per share equal to the lowest price permitted under the policies of the TSX Venture Exchange.
2. Royalty: Pure Energy will grant a 2.0-per-cent net smelter return royalty in favour of Ameriwest (or its designee) on the claims, which will include an area of influence extending a one-mile perimeter beyond the existing property boundary.

Following the execution of the LOI, Pure Energy and Ameriwest will work in good faith toward negotiating and executing a definitive agreement within 30 days. The transaction is subject to regulatory approval, including the approval of the TSX-V. Regulatory approvals are anticipated within 90 days, with final transfer of the property claims to be completed within 30 days following closing.

William Morton, chief executive officer of Pure Energy, commented: "The acquisition of the Railroad Valley property is a natural fit for Pure Energy as we continue to expand our footprint in Nevada's premier lithium basins. We look forward to working closely with Ameriwest to finalize the definitive agreement and welcome them as a significant shareholder in Pure Energy."

About Pure Energy Minerals Ltd.

Pure Energy is a TSX Venture Exchange-listed mineral exploration company transitioned toward a new phase of corporate growth. Following the successful option out of its Clayton Valley project, the company is currently focused on the evaluation of new strategic prospects. The company is committed to a disciplined acquisition strategy aimed to create long-term shareholder value.

We seek Safe Harbor.