Ameriwest closes Bornite project acquisition

Mr. David Watkinson reports AMERIWEST CRITICAL METALS CLOSES ACQUISITION OF THE BORNITE COPPER PROJECT, APPOINTS DIRECTOR Further to the news releases dated April 5 and Nov. 4, 2025, Ameriwest Critical Metals Inc. has completed the acquisition of 34 unpatented mineral claims located in Marion county, Oregon, together with certain related technical information, from an arm's-length private company and that company's wholly owned subsidiary. The claims are known as the Bornite project. The Bornite project hosts a copper, gold and silver deposit located about 50 miles east of Salem, Ore. The deposit is contained within a roughly cylindrical, vertically standing, cigar-shaped breccia pipe. The formation is 450 feet in diameter, extending from the surface down 1,000 feet, and is open at depth. Copper minerals, principally bornite and chalcopyrite, were deposited as part of the breccia matrix, mainly along the pipe's margins. Higher-grade mineralization is found on the pipe's outer shell, with lower-grade mineralization within the pipe's interior. In the early 1990s, Plexus Resources Corp. advanced the Bornite project through exploration, identifying a resource of 3.2 million tons at a 2.2-per-cent copper grade, 0.017 ounce per ton gold grade and 0.54 opt silver grade, containing 138.5 million pounds of copper, 54,000 ounces of gold and 1.7 million ounces of silver at a 0.5-per-cent-copper-cut-off grade. At that time, Plexus planned to construct a 1,400-ton-per-day underground mine with an eight-year mine life subject to permitting and financing (source: Plexus 1991 annual report). The resource estimate was completed before the implementation of National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves, and is being treated as a historical estimate by Ameriwest. The resources were not categorized as measured, indicated or inferred. No current resources have been defined on the Bornite project that meet NI 43-101 or CIM standards; however, the historical data acquired by Ameriwest as part of the transaction will be used to guide future exploration on the property. Ameriwest acquired a 100-per-cent interest in the Bornite project by paying the vendors a total of $100,000 (U.S.) in cash in two tranches. Ameriwest has granted one of the vendors an advance minimum royalty of $15,000 (U.S.) per year, payable on the first anniversary of the definitive agreement governing the transaction and annually thereafter. Upon the commencement of commercial production on the Bornite project, Ameriwest has also granted one of the vendors a 2-per-cent net smelter royalty, with credit to be given for any AMR payments previously made by the company. Ameriwest has the option of acquiring one-half of the 2-per-cent NSR from the applicable vendor for $1-million (U.S.), payable at any time. Ameriwest is in the process of transferring the claims into its U.S. subsidiary's name, which the recent U.S. federal government shutdown may delay. Ameriwest also announces the appointment of Bryson Goodwin as an independent director of the company. Mr. Goodwin is an international executive with over 25 years of experience across both private and public sectors. With a diverse career spanning multiple industries, he has led initiatives in operations, business development, finance, investor relations and marketing. His expertise is particularly strong in the areas of structuring, banking, financing and management, with a specialized focus on navigating the complexities of Canadian and U.S. stock exchanges, especially within the resource and energy sectors. Throughout his career, Mr. Goodwin has worked across a broad range of industries, including resources, energy, technology, cleantech and special situations. Currently, Mr. Goodwin serves as the managing director of Synergy Capital Market Advisors, where he continues to leverage his extensive experience to provide expert guidance in the areas of capital markets, business strategy and investment management. Qualified person statement David Watkinson, PEng, a non-independent qualified person under National Instrument 43-101, has reviewed and approved the technical content of 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 advancing its Thompson Valley lithium clay property in Arizona, 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 Ltd. It recently acquired an interest in the Xeno RAR rare earth property in British Columbia. We seek Safe Harbor.