Mr. Glenn Collick reports

AMERIWEST LITHIUM EXPANDS THOMPSON VALLEY LITHIUM PROPERTY, AZ

Ameriwest Lithium Inc. has expanded its Thompson Valley lithium property with the addition of four new mineral exploration permits (MEPs), following discovery of significant concentrations of up to 1,295 parts per million (ppm) lithium (Li) from surface soil sampling, as outlined in a Dec. 13, 2022, press release. Each new MEP is recorded with the Arizona State Land Department (ASLD) and the four MEPs have a combined total size of 2,560 acres (1,026 hectares).

On May 19, 2023, Ameriwest announced it had completed a technical report on its Thompson Valley property located in west-central Arizona. The report, prepared under the requirements of National Instrument 43-101 and standards of the Canadian Institute of Mining, Metallurgy and Petroleum, summarized geological test work completed by the company in 2022, including geologic mapping, surface sampling and geophysics. It identified six lithium exploration targets at Thompson Valley with potential to host 200 million tonnes to 400 Mt (220 million to 440 million tons) of clay deposits, with expected average grade of these deposits ranging from 114 ppm to 842 ppm Li. No mineral resources or reserves have yet been delineated on the property.

The new MEPs cover an area to the north of the target area between the Thompson Valley fault and the Eastwood Creek fault. While there is a basalt cap covering the surface of these four new MEPs, Ameriwest's geologists believe the MEPs may host lithium clay exploration targets similar in characteristics to the target area, with lithium-bearing sediments buried below the basalt cap. The new MEPs brings the mineral rights controlled by Ameriwest at Thompson Valley to 17 MEPs and 33 federal lode mining claims encompassing approximately 9,400 acres (3,800 hectares). The mineral rights controlled by Ameriwest are held in its subsidiary, Oakley Ventures (USA) Corp.

David Watkinson, Ameriwest Lithium's chief executive officer, commented: "With the encouraging results announced by Ameriwest in December, 2022, and with completion of the technical report in May, 2023, our team has identified six exploration targets at Thompson Valley. We expanded the size of the project area to the north to perfect and protect our land position. Our current plans are to initiate our inaugural drill program in 2023 to test these targets, pending necessary permits, drill availability and favourable weather conditions. We have mobilized a field crew to lay out drill pads and drill roads. We expect to complete archeological and native plant surveys within the next few weeks, to be followed by submission of a geological field plan of operations (GFOP) to the ASLD."

Qualified person statement

Mr. Watkinson, PEng, a non-independent qualified person under National Instrument 43-101, has reviewed and approved the technical content of this news release. Mr. Watkinson is chief executive officer of Ameriwest.

About Ameriwest Lithium Inc.

Ameriwest Lithium is a Canadian-based exploration company focused on identifying strategic lithium mineral projects for exploration and resource development. The company is currently exploring its 9,400-acre Thompson Valley property in Arizona. In addition, it is one of the largest lithium landholders in Nevada, exploring its 15,300-acre Railroad Valley property, 22,200-acre Edwards Creek Valley property, 5,800-acre Little Smoky Valley property and 7,600-acre Deer Musk East property. These include three lithium brine properties and two lithium clay properties.

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