Ameriwest enters option to acquire Xeno RAR claims

Executive Summary

• Ameriwest Critical Metals Inc. entered a definitive agreement to option and potentially purchase the Xeno RAR rare‑earth mineral claims in British Columbia.
• The transaction involves cash payments, issuance of up to 2 million common shares, $125 k of exploration expenditures, and grants a 2 % NSR royalty (with an option for the company to repurchase 1 %).
• The acquisition expands Ameriwest’s focus from lithium‑only to a diversified critical‑metals portfolio, adding exposure to rare‑earth elements.

Key Details

• Property: Xeno RAR rare‑earth claims – two units totaling 784.31 ha, located ~140 km east of Dease Lake, BC.
• Cash Payments: $10,000 due within 5 business days; $45,000 due within 45 calendar days of the definitive agreement.
• Share Issuance:
• 1 million common shares to be issued within 2 business days after CSE confirmation of no objection.
• Additional 1 million common shares to be issued on or before the first anniversary of the agreement date.
• Exploration Commitment: $125,000 in exploration expenditures to be incurred within 18 months of the agreement.
• Royalty Terms: Upon exercising the option, a 2 % net smelter return (NSR) royalty will be granted to the optionor; Ameriwest may repurchase 1 % of this royalty at any time for $250,000.
• Regulatory Condition: Transaction subject to regulatory approval.
• Strategic Rationale: Moves Ameriwest from a purely lithium explorer to a diversified critical‑metals explorer, targeting rare‑earth and yttrium opportunities and positioning the company for government/critical‑minerals funding.

Notable Quotes

“The acquisition of Xeno RAR is part of Ameriwest's transition from a purely lithium exploration company to a diversified critical metals explorer. The acquisition of Xeno RAR will give the company exposure to rare earths and result in the potential to take advantage of government and other sources of funding focused on critical minerals.” – David Watkinson, President & CEO

Qualified Person Statement: David Watkinson, PEng, non‑independent qualified person under NI 43‑101, reviewed and approved the technical content.