Vancouver, BC – August 25, 2025: Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0) announces that effective August 28, 2025, the Company’s name will change from “Ameriwest Lithium Inc.” to “Ameriwest Critical Metals Inc.”
The Company’s common shares will begin trading on the CSE on August 28, 2025, under the new name and the trading symbol for the Company will change from “AWLI” to “AWCM”. The new CUSIP will be 030747109 and the new ISIN number will be CA0307471098. The share capital of the Company remains unchanged.
David Watkinson, President and CEO of Ameriwest, stated, “The name change reflects the Company’s move into a more diversified portfolio of critical metal projects, including copper.” On April 4, 2025, Ameriwest announced it had signed a binding letter of intent (the “LOI”) to acquire the Bornite Copper Property (the “Property”) in Oregon. The Company is moving forward with the acquisition and has completed the US$35,000 initial payment for the Property, paid the 2025/26 claim maintenance fees for the claims, and is in the process of completing a definitive agreement with the Vendor. Upon closing of the transaction, a further US$65,000 payment will be made to the Vendor.
The Bornite Project hosts a copper, gold, and silver deposit located about 50 miles east of Salem, Oregon. 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 Corporation (“Plexus”) advanced the property through exploration, identifying a resource of 3.2 million tons at a 2.2% copper grade, 0.017 opt 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% Cu cut-off grade. At that time, Plexus planned to construct a 1,400ton-per-day underground mine with an eight-year mine life subject to permitting and financing (source: Plexus 1991 annual report).
The resource estimate above was completed before the implementation of National Instrument 43- 101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and is being treated as a historic 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 Definition Standards for Mineral Resources & Mineral Reserves. However, the historical data acquired by Ameriwest as part of the Transaction will be used to guide future exploration on the property.
Qualified Person
All scientific and technical information disclosed in this new release was reviewed and approved by David Watkinson, P.Eng., a consultant to Ameriwest and a non-independent qualified person under NI 43-101.
About Ameriwest Lithium 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 and is in the process of optioning its Railroad Valley lithium brine property in Nevada to Pure Energy Minerals Ltd. (TSXV: PE). It also has a property in Clayton Valley, Nevada. For more information on the Company, investors should review the Company’s filings available at www.sedarplus.ca.
On Behalf of the Board of Directors
David Watkinson,P.Eng.
Chief Executive Officer
For further information, please contact:
Ameriwest Lithium Inc.
Investor Relations
416 918-6785
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
