Ameriwest Doubles the Size of its Thompson Valley Lithium Property

Ameriwest Lithium Inc. (“Ameriwest” or the “Company”), a North American lithium exploration and development company are pleased to announce it has been awarded six additional mineral exploration permits by the Arizona State Land Department to allow the Company to expand its exploration for prospective lithium-bearing clays located in and around its Thompson Valley Property in west-central Arizona. The Company has renewed its initial seven State permits plus a special land use permit. The additional permits now encompass acreage of about 3,410 acres (1,380 hectares) awarded from the State. Together with the recently acquired Federal mining claims, total mineral rights have been nearly doubled to just over 6,890 acres (2,790 hectares) in Yavapai County. The new lands consist of four permits to the north and east, and two permits to the south all contiguous with the Company’s current land holdings.

Ameriwest further announces the State has also approved the second Geologic Field Operation Plan for the Thompson Valley property. This approved plan allows for an expanded surface sampling program with subsequent laboratory assays. The initial plan was limited to 50 samples, and the new plan allows additional sampling, expected to be approximately 300 samples. The continued surface sampling and assays will allow Ameriwest to expand upon its positive results announced last month wherein significant lithium concentrations were discovered.

David Watkinson, President, and CEO of Ameriwest stated, “After a highly successful initial surface sampling program at our Thompson Valley property which led to the discovery of surface or near surface lithium bearing clays, we are moving forward with an expanded surface sampling program that will allow Ameriwest’s technical team to better characterize this sedimentary clay deposit. The data from the expanded surface sampling program will be used to define drill targets and allow the Company to move forward with permitting process for a drill program. The goal of the drilling program will be to determine the depth of lithium-bearing strata and to start the process of delineating potential lithium resources on the property, subject to exploration success.”

Ameriwest also announces it has completed and filed NI 43-101 Reports for each of the ESN Gold projects in Nevada and the Koster Dam Gold project in Central British Columbia. These gold projects form the assets of Ameriwest’s wholly owned subsidiary, ISM Resources Corp. (“ISM”). Ameriwest announced on July 11, 2022, that it had received approval from the Supreme Court of British Columbia for a statutory Plan of Arrangement, pursuant to which Ameriwest and ISM will separate into two independent companies. Ameriwest will continue to trade on the Canadian Securities Exchange (the “CSE”) and ISM is applying to have its common shares listed for trading on the CSE. Assuming that the remaining conditions for closing are satisfied and the necessary regulatory approvals are obtained, it is expected that the closing of the Plan of Arrangement will be completed in the third quarter of 2022.

Greg Bell, P.E. (Arizona), a qualified person under the NI 43-101 instrument, has reviewed and approved the technical content of this release. Note no mineral resources or reserves have yet been delineated on the Thompson Valley Property that meet National NI 43-101 Standards of Disclosure for Mineral Projects or CIM Definition Standards.

Ameriwest invites interested stakeholders and shareholders alike to contact our investor relations team or visit our website and sign-up for regular news alerts which will help provide timely updates on ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field, as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.

About Ameriwest Lithium Inc.

Ameriwest Lithium Inc. is a Canadian-based exploration company focused on identifying and developing strategic lithium clay and brine mineral resources in Nevada and Arizona. The Company is currently exploring its 6,900-acre Thompson Valley lithium clay property in Arizona. In Nevada, it is exploring its 15,300-acre Railroad Valley lithium brine property, its 22,210-acre Edwards Creek Valley lithium brine property, its 5,760-acre Little Smoky Valley lithium clay property, and its 7,380-acre Deer Musk East lithium brine property.

For more information visit: https://ameriwestlithium.com/.