Ameriwest Critical Metals sells Railroad Valley property, NV to Pure Energy Minerals

VANCOUVER, BC / ACCESS Newswire / August 24, 2026 / Ameriwest Critical Metals Inc. ( CSE:AWCM )( OTCQB:AWLIF )( FSE:5HV ) (" Ameriwest " or the " Company ") is pleased to announce that the Company has signed a non-binding letter of intent (the " LOI ") with Pure Energy Minerals Limited (" Pure Energy ") to sell Ameriwest's Railroad Valley Property (the " Property ") to Pure Energy. The Property presently consists of 213 unpatented mineral claims located in Nye County, Nevada, and hosts a lithium brine exploration target.

Upon closing of the purchase and sale of the mineral claims comprising the Property (the " Transaction "), Pure Energy has agreed to (a) issue 8,000,000 common shares to Ameriwest at a deemed price per share equal to the lowest price permitted by the policies of the TSXV Venture Exchange (the " TSXV "), and (b) grant a 2.0% net smelter returns royalty in favor of Ameriwest or its designee on the claims, including an area of influence within a 1-mile perimeter of the boundary of the claims.

Following the execution and delivery of the LOI, Ameriwest, Pure Energy and their respective subsidiaries will work diligently and in good faith to negotiate the terms and conditions of a definitive agreement in respect of the Transaction (the " Definitive Agreement ") to be executed within 30 days and to obtain regulatory approval of the Transaction within 90 days. Upon the closing of the Transaction, Ameriwest shall use commercially reasonable efforts to complete the transfer of its interest in the Property to Pure Energy within 30 days. The Transaction is subject to regulatory approval.

David Watkinson, President and CEO of Ameriwest, stated, "This transaction places Railroad Valley with Pure Energy, a company experienced in advancing lithium brine properties. SLB (formerly Schlumberger) recently completed an earn-in option on Pure Energy's Clayton Valley Property, NV following successful testing of its direct lithium extraction (DLE) technology. SLB is a major shareholder in Pure Energy, and Ameriwest will also become a major shareholder and retain long-term upside from the royalty on the Property."

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 advancing 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,

For more information on the Company, investors should review the Company's filings available at www.ameriwestcriticalmetals.com or www.sedarplus.ca .

On Behalf of the Board of Directors