Ameriwest Critical Metals Provides Corporate Update and 2026 Near- Term Catalysts

Executive Summary

• Ameriwest Critical Metals closed an oversubscribed private placement raising $3,065,750 through the issuance of 12,263,000 units at $0.25 per unit.
• The company outlined a detailed 2026 work program for its newly acquired Bornite copper‑gold‑silver project in Oregon, including historic core handling, 3‑D modelling, surface work, geophysics and permitting for the next drilling phase.
• Additional exploration plans were disclosed for the Xeno rare earth project (BC) and the Thompson Valley lithium project (AZ), plus a new $415,000 marketing agreement with Echo Elite Ads Ltd.

Key Details

• Financing: Private placement of 12,263,000 units ($0.25 each) = $3,065,750 gross proceeds; each unit includes one common share and one warrant (exercise price $0.40, 18‑month term).
• Bornite Project – 2026 Objectives (Q1–Q2):
• Transfer historic drill core to secure storage in Reno, re‑log and selectively re‑sample.
• Build a non‑NI 43‑101 internal 3‑D geological model and mineral inventory estimate.
• Conduct surface geologic mapping and targeted soil sampling across the project area.
• Execute geophysical surveys to refine breccia pipe targeting and identify additional targets.
• Technical Reporting & Drilling: After completing items above, Ameriwest will file an NI 43‑101 Technical Report and advance permitting for a modern QA/QC‑compliant drill program aimed at confirming historic results and extending the resource.
• Long‑Term Goal: Delineate an initial NI 43‑101 compliant mineral resource at Bornite, focusing first on the known breccia pipe and evaluating regional potential for additional breccia bodies or deeper porphyry‑style mineralization.
• Bornite Ownership Terms: 100% interest held by a Nevada subsidiary; annual advance royalty $15,000 plus 2 % production royalty (acquirable for $1,000,000).
• Xeno Rare Earth Project – 2026 Objectives: Commence preliminary exploration in summer 2026 (soil sampling, geophysics) and consider backpack drilling to test historic anomalous soil results.
• Thompson Valley Lithium Project – 2026 Planning: Reviewing scope, budget and schedule for a potential drill program; drill permit currently in good standing with Arizona State Land Department.
• Marketing Agreement: One‑time non‑refundable fee of $415,000 + GST to Echo Elite Ads Ltd. for 20 weeks of advertising beginning 16 Mar 2026; no securities issued as compensation.

Notable Quotes

• “The closing of the $3.07 M financing positions us well to execute our near‑term exploration and corporate objectives,” – David Watkinson, CEO & Director.
• “Our 2026 work program at Bornite is designed to rapidly advance the project toward a NI 43‑101 compliant resource,” – David Watkinson.