VANCOUVER, BC — February 25, 2026 — Leads & Copy — Ameriwest Critical Metals Inc. (CSE:AWCM)(OTC PINK:AWLIF)(FSE:5HV) has announced a corporate update outlining the company’s near-term goals and objectives for 2026, following the completion of a $3.07 million financing.
The company closed an oversubscribed private placement on February 10, raising gross proceeds of $3,065,750 through the issuance of 12,263,000 units at $0.25 per unit. Each unit includes one common share of the company and one common share purchase warrant, exercisable at $0.40 per share for 18 months from the closing date. Ameriwest is now positioned to pursue its exploration and corporate objectives.
The primary exploration focus for 2026 will be the Bornite Copper-Gold-Silver Project in Oregon, acquired on November 14, 2025. The project, located about 50 miles east of Salem, Oregon, has a copper-gold-silver deposit and has been the subject of past exploration. The Bornite deposit is believed to be a steeply oriented breccia pipe with copper mineralization (bornite and chalcopyrite) within the breccia matrix, often concentrated along the margins.
Ameriwest, through its Nevada subsidiary, now holds a 100% interest in the Bornite Project, subject to an advance royalty payment of US$15,000 per year and a 2% production royalty, which can be acquired for US$1,000,000.
During Q1 and Q2 2026, Ameriwest plans to:
- Secure historic drill core and data by moving it from near Tonopah, Nevada, to Reno, Nevada, for secure storage, re-logging, and selective re-sampling. The company has noted some core may be unrecoverable due to weathering or incomplete intervals from previous testing.
- Build an internal 3D geological model by compiling historic paper records into a digital database to generate a non-compliant 3D model and mineral inventory estimate. This internal work will be used to guide target selection, drilling, and technical planning.
- Complete surface work, including geologic mapping and targeted soil sampling across the project area, to refine structural and geochemical controls.
- Complete geophysical surveys to support targeting and evaluate the breccia system and potential additional targets.
Following these steps, the company plans to file a NI 43-101 Technical Report outlining results and recommending next-phase work, including an initial drill program. The company also intends to advance permitting for drilling to confirm and extend historic results, using modern QA/QC and disclosure practices.
Beyond Q2 2026, Ameriwest aims to delineate an initial NI 43-101 compliant mineral resource at the Bornite Project, which will require drilling. Exploration will prioritize the known breccia pipe area, while also evaluating regional potential for additional breccia bodies and/or deeper porphyry-style mineralization.
Regarding the Xeno Rare Earth Project in British Columbia, acquired the option to purchase on October 10, 2025, Ameriwest considers Xeno a high-potential REE project and intends to commence preliminary exploration in summer 2026, including soil sampling and geophysics, and potentially backpack drilling.
The Thompson Valley project in Arizona has returned lithium-bearing clay values reported by the Company of up to 1,295 ppm (see press release dated May 19, 2023 for details). Ameriwest is assessing scope, budgeting and scheduling for a potential 2026 drill program.
The Company entered into a marketing agreement with Echo Elite Ads Ltd. on February 25, 2026. According to the agreement, Echo will design, create and distribute advertising content for the Company over a period of 20 weeks beginning on March 16, 2026, and Ameriwest has agreed to pay Echo a one-time, non-refundable fee of $415,000 plus GST.
David Watkinson, P.Eng., a non-independent qualified person under NI 43-101, has reviewed and approved the scientific and technical information contained in the release.
Ameriwest is focused on identifying and acquiring strategic critical mineral projects for exploration and resource development. The company is 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, Nevada, and is in the process of optioning its Railroad Valley lithium brine property in Nevada to Pure Energy Minerals Limited.
Source: Ameriwest Critical Metals Inc.
