File: '\\swfile\EmailIn\20251204 135106 Attachment 20251202 News Release on $2.0M PP - AWLI (DW Comments) (+McM).docx'

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OR FOR DISSEMINATION IN THE UNITED STATES

CSE:AWCM | OTC:AWLIF | FSE:5HV

Ameriwest Critical Metals

Announces CDN$2,000,000 Non-Brokered Private Placement

Vancouver, British Columbia, December 4th, 2025 -- Ameriwest Critical Metals Inc. ("Ameriwest" or the "Company") (CSE: AWCM) (OTC: AWLIF) (FSE: 5HV), is pleased to announce its intention to complete a proposed and non-brokered private placement (the "Private Placement") of up to 8,000,000 units of the Company (each, a "Unit"), at a subscription price of CDN$0.25 per Unit, for gross proceeds of up to CDN$2,000,000. Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one non-transferable common share purchase warrant of the Company (each, a "Warrant"), and each Warrant will be exercisable to acquire one additional share of the Company (each, a "Warrant Share"), at an exercise price of CDN$0.40 per Warrant Share, for a period of 18 months from the closing of the Private Placement.

Ameriwest CEO, Mr. David Watkinson, stated, "With the recent acquisition of the Bornite high-grade copper project in Oregon and our entry into rare earths through the Xeno property in British Columbia, Ameriwest has transitioned into a diversified critical metals company with a clear focus on assets in North American jurisdictions. The Bornite property, with its extensive historical drilling, pre-feasibility work and environmental baseline studies, provides us with a well-defined starting point for modern exploration. Subject to completion of this Private Placement, we expect to be better positioned to deliver long-term value for our shareholders."

In connection with the Private Placement, the Company may pay certain finders (each, a "Finder") a cash commission equal to 8% of the aggregate gross proceeds raised from those Unit subscribers introduced by such Finders to the Company and/or issue to such Finders such number of non-transferable share purchase warrants of the Company equal to 8% of the total number of Units sold to such subscribers (each, a "Finder's Fee Warrant"), with each such Finder's Fee Warrant being exercisable to acquire one additional share of the Company (each, a "Finder's Warrant Share"), at an exercise price of CDN$0.25 per Warrant Share, for a period of 18 months from the closing of the Private Placement.

The Company intends to use the proceeds raised from this Private Placement for exploration, general corporate and working capital purposes. The Private Placement may close in tranches, with the first tranche of the Offering expected to close on or around December 30, 2025. The Private Placement is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. All securities issued in connection with this Private Placement are subject to a statutory hold period of four months and one day pursuant to applicable securities laws.

Certain insiders of the Company may acquire Units in the Private Placement. Any participation by insiders in the Private Placement would constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization.

The securities issued pursuant to this Private Placement have not, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Ameriwest Critical Metals Inc.

Ameriwest Critical Metals Inc. is a diversified critical metals-focused exploration company with mineral properties in Oregon, British Columbia, Nevada and Arizona. The Company's near-term focus is the Bornite Copper Project in Oregon, a breccia-pipe copper-gold-silver system that has been the subject of extensive historical drilling, metallurgical test work, a pre-feasibility study and environmental baseline programs. Ameriwest has acquired the historic core and data and intends to carry out modern 3-D modeling, verification work and confirmation drilling to assess the potential of the system. At Xeno, in northern British Columbia, the Company has an interest in a rare earth-yttrium project associated with alkaline intrusives and carbonatite-style mineralization. Its Thompson Valley and Railroad Valley projects provide lithium exposure through claystone and brine targets, respectively. Collectively, these projects give Ameriwest leverage to metals that are important to electrification, defense, infrastructure and data-center development. Ameriwest's strategy is to advance these assets through disciplined, staged exploration and technical evaluation.

On Behalf of the Board of Directors

David Watkinson

Chief Executive Officer and director

For further information, please contact:

Sam Eskandari

Director

(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.