Bornite Work Program Underway Following the Closing of $3.07m Financing
VANCOUVER, BC / ACCESS Newswire / February 25, 2026 / Ameriwest Critical Metals Inc. (CSE:AWCM)(OTC PINK:AWLIF)(FSE:5HV) ("Ameriwest" or the "Company") is pleased to provide the following corporate update outlining the Company's near-term goals and objectives for 2026.
Recent Completion of Financing
On February 10, 2026, the Company announced the closing of an oversubscribed private placement for gross proceeds of $3,065,750 through the issuance of 12,263,000 units (each, a "Unit") at a price of $0.25 per Unit. Each Unit consisted of one common share of the Company and one common share purchase warrant exercisable at a price of $0.40 per share for a period of 18 months from the applicable closing date. The Company is now well-positioned to execute its near-term exploration and corporate objectives.
Exploration Updates and Objectives
Bornite Copper-Gold-Silver Project, Oregon
On November 14, 2025, Ameriwest announced the closing of the acquisition of the Bornite property in Oregon (the "Bornite Project"). The Bornite Project has been the subject of significant historical exploration and is host to a copper-gold-silver deposit located approximately 50 miles east of Salem, Oregon. The Bornite deposit is interpreted to be a steeply oriented breccia pipe with copper mineralization (principally bornite and chalcopyrite) occurring within the breccia matrix and commonly concentrated along the margins.
Ameriwest has completed the transfer of the mineral claims comprising the Bornite Project into the name of the Company's wholly owned Nevada subsidiary with the U.S. Bureau of Land Management. Through that subsidiary, Ameriwest holds a 100% interest in the Bornite Project, subject only to an advance royalty payment obligation of US$15,000 per year and a 2% production royalty, which the Company may acquire at any time for US$1,000,000.
Bornite Project - Goals and Objectives for 2026
The Bornite Project will be the Company's primary exploration focus in 2026. During Q1 and Q2 2026, Ameriwest intends to complete the following staged work:
Secure historic drill core and data - Move historic drill core currently stored near Tonopah, Nevada to Reno, Nevada for secure storage, re-logging and selective re-sampling. The Company notes that not all core may be recoverable due to weathering and/or incomplete intervals from prior metallurgical and environmental testing.
Build an internal 3D geological model - Compile historic paper records into a digital database to generate an internal 3D model and internal mineral inventory estimate. This internal work product will be non-compliant withNational Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")and non-CIM compliant, but is intended to guide priority target selection, future drilling, and technical planning.
Surface work - Complete geologic mapping and targeted soil sampling across the project area to refine structural and geochemical controls.
Geophysics - Complete geophysical surveys to support targeting and evaluate the breccia system and potential additional targets.
Technical Report - Following completion of items (1)-(4), the Company plans to file a NI 43-101 Technical Report outlining results and recommending next-phase work, including an initial drill program.
Drill permitting and next-phase drill program - The Company intends to advance permitting for drilling designed to confirm and extend historic results using modern QA/QC and disclosure practices consistent with NI 43-101 and CIM Standards.
Beyond Q2 2026, the Company's objective is to delineate an initial NI 43-101 compliant mineral resource at the Bornite Project, which will require drilling. Exploration will initially prioritize the known breccia pipe area, while evaluating regional potential for additional breccia bodies and/or deeper porphyry-style mineralization.
Xeno Rare Earth Project, British Columbia
On October 10, 2025, the Company announced that it had acquired the option to purchase the Xeno Rare Earth Project in British Columbia. The Xeno property consists of two mineral claim units totaling 784.31 hectares and is located approximately 140 km east of Dease Lake. The region includes carbonate masses, alkalic intrusives and related breccias, and historical work has included stream sediment sampling, soil and rock sampling, and geophysics, with reported occurrences of rare earth elements (REE) and yttrium.
Xeno Rare Earth Project - Goals and Objectives for 2026
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 to further evaluate areas associated with historical anomalous soil results.
Thompson Valley Lithium Project, Arizona - 2026 Planning
Ameriwest's 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). The Company believes the property may have potential for a claystone-hosted lithium system within a sub-horizontal sequence of lacustrine sediments.
The Company maintains a drill permit in good standing from the Arizona State Land Department under its Geological Field Operations Plan. Ameriwest is currently assessing scope, budgeting and scheduling for a potential 2026 drill program.
Investor Relations and Marketing
Echo Elite Ads Ltd.
On February 25, 2026, the Company entered into a marketing agreement (the "Marketing Agreement") with Echo Elite Ads Ltd., a British Columbia corporation ("Echo"). Pursuant to the Marketing Agreement, Echo has agreed to design, create and distribute advertising content for the Company over a period of 20 weeks beginning on March 16, 2026. In accordance with the terms and conditions of the Marketing Agreement and as consideration for the services being provided by Echo, the Company has agreed to pay Echo a one-time, non-refundable fee of $415,000 plus GST, at least 85% of which Echo has committed to using for media distribution purposes including the purchase of advertising.
The Company will not issue any securities or options to purchase securities to Echo as compensation for its services under the Marketing Agreement. The contact information for Echo is: Echo Elite Ads Ltd., #250 - 997 Seymour Street, Vancouver, BC, Canada V6B 3M1. The contact person for Echo is Adrick Castiglioni, email: info@echoeliteads.com; phone: (236) 858-8588. Each of Echo and Mr. Castiglioni is at arm's length to the Company and, to the Company's knowledge, does not have any direct or indirect interest in the Company or its securities.
Qualified Person Statement
David Watkinson, P.Eng., a non-independent qualified person under NI 43-101, has reviewed and approved the scientific and technical information contained in this news release. Mr. Watkinson is the CEO and a director of Ameriwest.
About Ameriwest Critical Metals Inc.
Ameriwest is an exploration company focused on identifying and acquiring strategic critical mineral projects for exploration and resource development. The Company is currently 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.
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
Chief Executive Officer and Director
For further information, please contact:
Ameriwest Critical Metals Inc.
Tel: (416) 918-6785
Email: info@ameriwestcriticalmetals.com
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.
SOURCE: Ameriwest Critical Metals
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ameriwest-critical-metals-provides-corporate-update-and-2026-near-term-catalysts-1141700
