Mr. David Watkinson reports

AMERIWEST CRITICAL METALS CLOSES UPSIZED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $3 MILLION

Ameriwest Critical Metals Inc. has closed the second and final tranche of its previously announced non-brokered private placement, which, due to strong investor demand, was upsized.

The company has completed the private placement for aggregate gross proceeds of $3,065,750 through the issuance of 2.64 million units in the first tranche and 9,623,000 units in the second tranche for an aggregate issuance of 12,263,000 units of the company at a price of 25 cents per unit.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share at an exercise price of 40 cents per warrant share for a period of 18 months from closing.

Ameriwest chief executive officer David Watkinson stated: "We're very encouraged by the level of demand for this financing even after the increase. Closing an oversubscribed private placement strengthens our ability to advance our portfolio of critical metals assets, with a near-term focus on progressing the Bornite copper project in Oregon alongside our broader North American pipeline."

In connection with the private placement, the company paid eligible finders a cash commission of $129,180 and issued to such finders 364,560 non-transferable share purchase warrants of the company, with each such finder warrant being exercisable to acquire one additional share of the company at an exercise price of 25 cents per finder 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. 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.

One insider of the company acquired 152,000 units in the private placement for gross proceeds of $38,000. No finders' fees or finder warrants were issued in connection with such subscription. The participation by such insider in the private placement constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemption from valuation requirement and minority approval pursuant to subsections 5.5(a) and 5.7(a) of MI 61-101, respectively, for the insider participation in the offering, as the securities do not represent more than 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

About Ameriwest Critical Metals Inc.

Ameriwest Critical Metals 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 prefeasibility study and environmental baseline programs. Ameriwest has acquired the historic core and data and intends to carry out modern 3-D modelling, 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, defence, infrastructure and data centre development. Ameriwest's strategy is to advance these assets through disciplined, staged exploration and technical evaluation.

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