Vancouver, BC – September 6, 2024: Ameriwest Lithium Inc. (the “Company” or “Ameriwest”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0) announces that the Company has taken steps to optimize its exploration property portfolio in response to low lithium prices, poor equity markets for lithium explorers and the for junior mining sector in general, and due the Bureau of Land Management (the “BLM”) raising claim maintenance fees from US$165 per claim to US$200 per claim, a 21.2% increase, for the 2025 assessment year (see BLM press release dated June 28, 2024 for additional details).

David Watkinson, President and CEO of Ameriwest, stated, “Management has made the decision to reduce our land holdings and associated costs to focus on our Thompson Valley Property, AZ, which we believe holds the Company’s best exploration target. In addition, as announced by press release on September 4, 2024, we have signed a letter of intent to option our Railroad Valley Property, NV, a lithium brine exploration property, to Pure Energy Minerals Limited (TSXV: PE) (“Pure Energy”). Pure Energy can earn up to an 85% interest in the property by completing US$1.7 million in cash and share payments and US$3.5 million in exploration expenditures over a six-year period. We have retained ten strategic lithium clay/brine exploration claims in Clayton Valley, at our Deer Musk East Property, adjacent to Spearmint Resources Inc.’s McGee Lithium Property (CSE: SPMT), which hosts a lithium carbonate mineral resource.”

The Company’s Thompson Valley Property is located 120 miles north of Phoenix, AZ. It is a surface clay deposit in an area known as the White Hills where lithium was identified in sampling by the United States Geological Survey (USGS) in the 1960’s. Ameriwest’s claims cover a sequence of volcanic sedimentary rocks including layers of ash and clays, including silicic horizons. The Company conducted surface sampling of the property and assay results from 205 surface grab samples showed lithium contents up to 1,295 ppm Li (see Ameriwest’s December 12, 2022 press release for details). From this sampling, six main target areas have been identified and a Geological Plan of Operations (GFOP) has been obtained from the Arizona State Land Department (ASLD) to allow a drilling program, subject to financing and completing minor permit requirements. The Company is in the process of reducing the number of Mineral Exploration Permits with the ASLD at Thompson Valley from 17 to 13 based on the geological information from its exploration work to date.

Going forward, the Company’s properties will consist of:

• Thompson Valley, AZ – 33 Federal mineral claims and 13 State mineral exploration permits totaling 6,900 acres (2,800 hectares).
• Railroad Valley, NV – 563 mineral claims totaling 11,200 acres (4,500 hectares)
• Deer Musk East, NV – 10 federal mineral claims totaling 200 acres in Clayton Valley, NV.

The Company allowed its other claims in Nevada to expire without renewal on September 3, 2024 and plans to focus its exploration efforts on the Thompson Valley Property for the foreseeable future. Subject to successfully completing a definitive option agreement with Pure Energy, Pure Energy will conduct exploration activity at the Railroad Valley Property for the next six years at no cost to Ameriwest.

The vicinity of Ameriwest’s properties to adjacent properties does not guarantee exploration success and no mineral resources or reserves have yet been identified on the Company’s properties.

Qualified Person Statement

David Watkinson, P.Eng. a non-independent qualified person under the NI 43-101 Instrument, has reviewed and approved the technical content of this news release. Mr. Watkinson is the President and CEO of Ameriwest.

About Ameriwest Lithium Inc.

Ameriwest is a Canadian-based exploration company focused on identifying strategic lithium mineral projects for exploration and resource development. The Company is currently focused on exploring its Thompson Valley Property, AZ, a lithium clay property. Thompson Valley consists of 13 mineral exploration permits with the Arizona State Land Department and 33 mineral claims with the Bureau of Land Management, totalling about 6,900 acres (2,800 hectares). A NI 43-101 Technical Report entitled Thompson Valley Lithium Project Exploration Target, Yavapai County, Arizona, with release date January 31, 2023, and effective date January 17, 2023, can be found under Ameriwest’s corporate filings on www.sedarplus.ca. The Company also owns the 11,200-acre (4,500 hectare) Railroad Valley Property, NV, and holds 10 strategic mineral claims adjacent to Spearmint Resources Inc.’s McGee Property in Clayton Valley, NV.

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.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.