Ameriwest Awaits Bornite Core Assay Results and Provides Q3 2026 Corporate Update
Ameriwest advances technical work and engagement at Bornite, gains OTCQB quotation, and signs a non-binding LOI to monetize a Nevada lithium asset.
Rhea-AI Summary
Ameriwest Critical Metals (AWLIF) reported Q3 2026 progress at its Bornite copper-gold-silver project, new U.S. trading access, and a proposed Nevada asset sale.
At Bornite in Oregon, the company and APEX Geoscience completed detailed re-logging of preserved historical drill core and selected intervals were sent for modern multi-element assays, including rare earths, to verify the historical database and support potential NI 43-101/CIM-compliant resource modelling. Ameriwest emphasized that no current mineral resource or reserve is defined and that additional drilling may be required. A formal Community and Stakeholder Engagement Program for Bornite was launched in June 2026.
On June 11, 2026, Ameriwest’s shares began trading on the OTCQB Venture Market under AWLIF, complementing listings on the CSE (AWCM) and FSE (5HV). On August 24, 2026, Ameriwest entered a non-binding LOI to sell its Railroad Valley lithium property to Pure Energy Minerals for 8,000,000 shares plus a 2.0% NSR royalty, subject to a definitive agreement and regulatory approvals.
Positive
- Bornite technical work advanced with full re-logging of preserved core and initiation of multi-element re-assays in 2026
- Potential NI 43-101 resource dataset may be supported if current re-assay, QA/QC, and evaluations are successfully completed
- U.S. market access expanded with OTCQB trading under AWLIF beginning June 11, 2026
- Railroad Valley LOI contemplates 8,000,000 Pure Energy shares plus a 2.0% NSR royalty on the Nevada claims
Negative
- No current mineral resource or reserve is defined at Bornite despite historical data
- Additional drilling may be necessary before an initial NI 43-101 mineral resource estimate can be completed at Bornite
- Railroad Valley transaction is only at non-binding LOI stage and remains subject to a definitive agreement and regulatory approvals
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / September 16, 2026 / Ameriwest Critical Metals Inc. (CSE:AWCM)(OTCQB:AWLIF)(FSE:5HV) ("Ameriwest" or the "Company") is pleased to provide a technical update on the Company's
Bornite Update
Since its May 26, 2026, corporate update, Ameriwest has continued a multi-faceted program to 1) organize, review, and evaluate an extensive body of historical technical information from the Bornite Project including geological modelling; 2) re-log and photograph historical drill core; 3) re-assay selected drill core from historic drilling completed at the Project between the 1970s and the 1990s; and 4) design and permit an exploration program at Bornite. The Company recently submitted samples from selected drill core intervals for modern multi-element assay analysis and is awaiting assay results.
David Watkinson, President and CEO of Ameriwest, commented:
"When Ameriwest acquired Bornite, one of the most attractive aspects of the Project was the availability of the historic core that could be re-logged and re-assayed to support verification of the historical assay database so it could be used for resource modelling. In addition, we acquired a substantial quantity of other historical technical work that guides our current exploration efforts. While historic assaying principally focused on copper, gold, and silver, the re-assaying will evaluate multiple metals, including rare earths. The program will improve our understanding of the broader geochemical characteristics of the Bornite mineralized system."
Review of Historical Information
APEX Geoscience Ltd. ("APEX") was retained in March 2026 to assist with the data compilation and digitization, and the review of technical information related to Bornite. Apex completed a preliminary geologic model for Bornite, based on this historic information, in April 2026. On June 3, 2026, Ameriwest released a summary of significant intercepts at Bornite from the historical assay database.
Re-Logging of Historic Drill Core
In May 2026, Ameriwest announced that approximately 30 pallets of preserved historical drill core associated with the Bornite Project had been relocated to APEX's secure facility in Reno, Nevada, for geological re-logging, photography, and selective re-sampling. In August 2026, APEX completed detailed re-logging and review of all available preserved core. This work included examination of lithology, mineralization, geological contacts, alteration, and other geological features relevant to the Company's ongoing interpretation of the Bornite mineralized system. Copper mineralization at Bornite occurs primarily as bornite, chalcopyrite, and tourmaline.
Figure 1. Drill Core from hole CC 26, Box 18, from 298 to 308 feet downhole
Re-Assaying of Historic Drill Core
From this work, APEX selected core intervals from multiple drill holes for re-assaying, which have all been sent to an assay laboratory in Reno. Re-assaying selected drill core is an important next step in evaluating the historical assay database acquired by Ameriwest with Bornite. Historical assaying focused on copper, gold, and silver. The current re-assaying is intended to provide data across a broader suite of metals, including rare earths. Ultimately, the new analytical data will be analyzed with the goal of statistically validating the historical Bornite assay database. This database, along with the new analytical data, will be used for future resource modelling.
Based on the extent and condition of the preserved core and the quality of the historical technical information reviewed to date, APEX and Ameriwest believe that the existing dataset may, subject to completion of the current re-assay program, data verification, QA/QC review, and appropriate geological and statistical evaluation, provide sufficient technical support for preparation of an initial current mineral resource estimate that meets National Instrument 43-101 ("NI 43-101") and Canadian Institute of Mining, Metallurgy, and Petroleum ("CIM") standards.
Note that there is no current mineral resource or mineral reserve defined at the Bornite Project. There is no assurance that the ongoing verification and analytical work will result in delineation of a current mineral resource. Additional drilling may be necessary to achieve this.
Community Engagement
In June 2026, Ameriwest launched a formal Community and Stakeholder Engagement Program for Bornite. The program is intended to establish early communication with local communities, Tribal Nations, government agencies, land users, and other interested parties while the Project remains at an early stage of modern exploration. Ameriwest intends to continue engagement in parallel with its exploration and technical work, so that relevant environmental, social, cultural, access, and land-use considerations can be incorporated into future exploration programs and applicable permitting processes.
Mr. Watkinson stated:
"Technical work is only one component of responsible project advancement. Beginning stakeholder engagement early gives the Company an opportunity to listen, understand local priorities, and incorporate that information into our planning before significant future field programs are undertaken."
Next Steps at Bornite
Ameriwest's immediate priority at Bornite is to advance selected historical drill core through modern multi-element laboratory analysis and integrate those results with the historical assay database and existing 3D geological model. Following receipt and evaluation of these analytical results, the Company will determine whether the available data are sufficient to prepare an initial mineral resource estimate at Bornite, in accordance with NI 43-101 and CIM standards. In parallel with this work, Ameriwest plans to design and permit an initial drill program at Bornite, which may be needed to complete an initial resource estimate. The ultimate goal is to prepare an initial mineral resource estimate and a supporting technical report in accordance with NI 43-101.
U.S. Market Access
On June 11, 2026, the Company's common shares commenced trading on the OTCQB Venture Market in the United States under the symbol AWLIF. Ameriwest's common shares continue to trade on the Canadian Securities Exchange under AWCM and on the Frankfurt Stock Exchange under 5HV. The OTCQB quotation provides an additional market through which U.S. investors can access Ameriwest securities while the Company advances its North American critical-metals portfolio.
Railroad Valley Transaction
On August 24, 2026, Ameriwest announced that it had entered into a non-binding letter of intent with Pure Energy Minerals Limited concerning the proposed sale of Ameriwest's Railroad Valley lithium property in Nevada. Under the proposed transaction, Pure Energy would issue 8,000,000 common shares to Ameriwest and grant Ameriwest or its designee a
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 has entered into a non-binding letter of intent with Pure Energy Minerals Limited for the proposed sale of its Railroad Valley lithium brine property in Nevada.
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 constitute or may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information in this news release includes, but is not limited to, statements regarding the submission and analysis of historical core samples; the ability to verify or use historical technical information; the potential sufficiency of the historical drilling, preserved core and related information to support an initial current mineral resource estimate; whether additional drilling will be required before preparation of such an estimate; the timing, scope and objectives of future drilling and exploration programs; future geological modelling and technical evaluation; stakeholder engagement and permitting activities; and the proposed transaction involving the Railroad Valley property.
Forward-looking information is based on management's current expectations, estimates, assumptions and interpretations, including assumptions regarding the condition and representativeness of preserved historical core; the completeness and reliability of historical records; the results of modern analytical work; the ability to reconcile historical and modern analytical information; the availability of qualified consultants, laboratories, contractors and financing; the receipt of necessary regulatory and other approvals; and the Company's ability to carry out its planned exploration and technical programs.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied, including the risk that historical information cannot be adequately verified; that re-assay results differ materially from historical analytical results; that additional drilling is required before a Mineral Resource estimate can be prepared; that the available data are insufficient to establish geological or grade continuity at the confidence required for a Mineral Resource; that exploration activities, permitting or stakeholder processes are delayed; that financing, contractors or services are unavailable on acceptable terms; and that the proposed Railroad Valley transaction is not completed.
There is currently no current Mineral Resource estimate for the Bornite Project. There can be no assurance that the ongoing analytical, verification and technical work will result in the estimation of a Mineral Resource.
Although the Company believes the expectations reflected in such forward-looking information are reasonable, no assurance can be given that they will prove to be correct. Readers should not place undue reliance on forward-looking information. Forward-looking information speaks only as of the date of this news release, and the Company undertakes no obligation to update such information except as required by applicable securities laws.
SOURCE: Ameriwest Critical Metals
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are Ameriwest’s immediate next steps at the Bornite project?
Ameriwest’s priority is to complete modern multi-element laboratory analysis of selected historical core, integrate the new results with the existing assay database and 3D geological model, and then determine whether the data are sufficient to prepare an initial NI 43-101/CIM-compliant mineral resource estimate. In parallel, the company plans to design and permit an initial drill program that may be required to complete such an estimate.
What is the purpose of Ameriwest’s Community and Stakeholder Engagement Program at Bornite?
The formal Community and Stakeholder Engagement Program, launched in June 2026, is intended to establish early communication with local communities, Tribal Nations, government agencies, land users, and other interested parties while Bornite is at an early exploration stage. The company said this engagement allows local priorities and environmental, social, cultural, access, and land-use considerations to be incorporated into future exploration programs and permitting processes.
What are the key terms of the proposed Railroad Valley lithium property transaction?
Under the non-binding letter of intent announced August 24, 2026, Pure Energy Minerals Limited would issue 8,000,000 common shares to Ameriwest and grant Ameriwest or its designee a 2.0% net smelter returns royalty on the Railroad Valley claims, including an area of influence within a one-mile perimeter of the claim boundary. The proposed transaction is subject to execution of a definitive agreement and regulatory approval.
Who is the qualified person for the technical information in this update?
The qualified person for the scientific and technical information is David Watkinson, P.Eng., a non-independent qualified person under NI 43-101. He has reviewed and approved the technical content of the news release and is the CEO and a director of Ameriwest.