American Marconi Wireless News - Ameriwest Critical Metals Secures 100% Ownership of Xeno Rare Earth Project as Yttrium Gains Strategic Focus

VANCOUVER, BC / ACCESS Newswire / March 18, 2026 / Ameriwest Critical Metals Inc. (CSE:AWCM)(OTC PINK:AWLIF)(FSE:5HV) ("Ameriwest" or the "Company") is pleased to announce that, further to its news release dated October 10, 2025, the Company has acquired a 100% interest in the Xeno Rare Earth property ("Xeno" or the "Property") in British Columbia.

On March 16, 2026, the Company and the arm's-length vendor of the Property entered into an amendment (the "Amendment") to the option agreement between the parties dated October 10, 2025 (the "Agreement") in order to modify certain commercial terms of the Agreement. The Agreement originally required Ameriwest to issue a second tranche of 1,000,000 common shares of the Company (the "Consideration Shares") to the vendor on or before the first anniversary of the Agreement and to incur $125,000 in exploration expenditures on the Property within 18 months of signing the Agreement.

Pursuant to the Amendment, the Company agreed to issue the Consideration Shares to the vendor on or before March 18, 2026, and complete a one-time cash payment of $10,000 to the vendor on or before the same date in consideration for the vendor agreeing to eliminate the exploration expenditure commitment noted above. The Amendment also confirmed the deemed price of the Consideration Shares to be $0.26 per share, which is equivalent to the deemed price per share of the common shares previously issued by the Company to the vendor under the Agreement.

The Consideration Shares are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws. The issuance of the Consideration Shares and completion of the one-time cash payment to the vendor means that the Company has now fulfilled the terms of the Agreement, as amended, and acquired a 100% interest in Xeno.

Xeno consists of two mineral claim units totaling 784.31 hectares and is located approximately 140 kilometres east of Dease Lake, British Columbia. The original discovery of fluorite mineralization on the Property occurred in 1968. Subsequently, the Property has been explored for its rare earth and diamond potential. Historic chip and grab sampling indicate the presence of a variety of rare earth minerals, including yttrium oxide, dysprosium oxide, europium oxide, lanthanum oxide, cerium oxide, and neodymium oxide (source: B.C.Assessment Report 26,853). One of Ameriwest's first steps will be to analyze historic exploration reports on the Property and, where possible, digitize any pertinent information.

Ameriwest believes the timing of this acquisition is significant. Recent developments in the United States have highlighted growing strategic interest in secure supplies of critical minerals, including yttrium, which is used in a range of advanced technologies and defense-related applications. The Company believes projects with exposure to minerals such as yttrium may become increasingly relevant as the United States and its allies seek to strengthen domestic and friendly-jurisdiction supply chains.

By completing the acquisition of Xeno, Ameriwest has added full ownership of a rare earth project that aligns with its broader strategy of building a diversified portfolio of critical mineral assets in North America. The Company believes Xeno complements its existing exposure to copper and lithium and reinforces its focus on commodities tied to long-term industrial, technology, and supply chain trends.

David Watkinson, Chief Executive Officer of Ameriwest, stated, "We plan to first review historic data that is available on the Property and use it to develop an initial exploration program for Xeno for 2026. Ameriwest expects early-stage work at Xeno may include rock chip and soil sampling and geophysics, with the goal of developing initial drill targets. A great deal of historic information is available to act as an exploration guide."

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 is in the process of optioning its Railroad Valley lithium brine property in Nevada to Pure Energy Minerals Limited.

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: [email protected]

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.

SOURCE: Ameriwest Critical Metals

View the original press release on ACCESS Newswire

L.Harper--AMWN