Ameriwest Lithium Provides Update on Its Thompson Valley Lithium Project, AZ

VANCOUVER, British Columbia, Jan. 11, 2024(GLOBE NEWSWIRE)– Ameriwest Lithium Inc.(the”Businessor”Ameriwest)(CSE: AWLI )(OTC: AWLIF)(FSE: 5HV0)is happy to report that, through its entirely owned subsidiary Oakley Ventures USA Corp.(Oakley), it has actually effectively worked out Surface Use Agreements (SUAs) with the ranchers that have grazing rights overlapping its Arizona State Mineral Exploration Permits and close-by personal surface area lands at its Thompson Valley Project (“Television Project”), Arizona. This is a significant turning point in getting approvals required for a Phase 1 drilling program at the television Project.

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The SUAs attend to:

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• Usage of the personal gate and roadway getting in the western television Project lands for complete access to that home in addition to the northern television Project arrive on top of the mesa. The SUAs likewise offer gain access to throughout personal lands going into the southern television Project lands.
• Approval for access to drill on the personal lands where Oakley has Federal lode mining claims. This is essential, as it negates the requirement for BLM approval of a Plan of Operations to check out and drill on these 33 claims, significantly reducing the allowing procedure.

The SUAs consist of the arrangements for:

• A composed prepare for evaluation and approval by the ranchers, with approval to not be unreasonably kept.
• Payment to the ranchers for land disruption for developing roadways, trenches, and drill pads on a per length or per pad basis.
• Capability to obstruct off some lands from livestock grazing, such as for mining operations, with payment to the ranchers on a per location each month basis.
• Accessing of water rights.
• Growth or contraction of the lands covered as Oakley’s mineral rights modification.

Oakley has actually likewise advanced its Right-of-Way (ROW) application with Arizona State to cross the surrounding Lyles Mineral Lease to make it possible for access to the eastern location of the home, as follows:

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• The ROW was surveyed, and displays ready and offered to the Arizona State Land Department (ASLD). ASLD accepted the displays as appropriating.
• An archaeology report was finished and sent to the Arizona State Museum (ASM) for evaluation, and a location of cultural significance on an area of the eastern ROW crossing a location of recognized cultural resources.
• Native plant studies were finished.

The Geologic Field Operations Plan (GFOP) sent to ASLD in September need to be nearing approval. The archaeology and native plant studies, in addition to info on the SUA’s were sent to ASLD as part of this evaluation. Conversations with ASLD are continuous to reduce the issue determined by the ASM, on the basis that it was a formerly utilized tradition roadway in the location. It is expected that the GFOP will be authorized early in 2024.

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Mineral Rights, Thompson Valley Property, AZ

The Company’s present focus is focused on protecting financing to facilitate this year’s suggested Phase 1 drilling program at the television Project. Goals of the program are detailed listed below:

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• Get representative cuttings samples for lab analysis and show the existence of substantial lithium concentrations.
• Identify the depth of the prospective lithium deposit by drilling to basement rock.
• Start to specify the measurements of the prospective lithium deposit with the longer term objective of specifying a lithium resource.

Keep in mind that no mineral resources or reserves have actually yet been specified at the Thompson Valley Project that satisfy National Instrument 43-101 (NI 43-101) Standards for Disclosure for Mineral Projects or Canadian Institute of Mining (CIM) Definition Standards for Mineral Resources and Reserves.

To accomplish these goals of its drilling program, Oakley prepares to utilize dual-wall reverse flow (RC) drilling with air, as this will offer unpolluted samples from depth. It is prepared to drill in 9 to 11 places in the western location, as revealed on Figure 1. Thirty places are being allowed to permit follow-up drilling in both the western and eastern locations, based on expedition success and financing. Target depths are +/ -300 feet, based upon satellite-based remote picking up for the existence of lithium.

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Drilling quotes are being acquired from 5 various business of which 2 lie in Arizona and 3 in Nevada.

Extra authorizations anticipated to be needed upon approval of the GFOP consist of:

• Notification of Intent to Clear Land, sent to the Arizona Department of Agriculture (ADA).
• Exhibition C: Checklist– Vegetation on State Trust Land, sent to ASLD Natural Resources Division.
• Notification of Intent to Drill and Abandon an Exploration/ Specialty Well sent to Arizona Department of Water Resources (ADWR).
• Building And Construction Activity General Permit (CGP) for stormwater discharge.

Upon conclusion of the needed licenses and funding activities, Ameriwest prepares to move on with Phase 1 drilling at the television Project. Timing depends on these activities.

Certified Person Statement

David Watkinson, P.Eng., a non-independent certified individual under the NI 43-101 Instrument, has actually evaluated and authorized the technical material of this press release. Mr. Watkinson is President and CEO of Ameriwest.

About Ameriwest Lithium Inc.

Ameriwest Lithium Inc. is a Canadian-based expedition business concentrated on determining tactical lithium mineral jobs for expedition and resource advancement. The Company is presently exploring its 9,400-acre Thompson Valley residential or commercial property in Arizona. In addition, it is among the biggest lithium land holders in Nevada exploring its 15,300-acre Railroad Valley home, 22,200-acre Edwards Creek Valley residential or commercial property, 5,800-acre Little Smoky Valley home and 7,600-acre Deer Musk East home. These consist of 3 lithium salt water homes and 2 lithium clay residential or commercial properties.

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On Behalf of the Board of Directors

Dave Watkinson
President

For more details, please contact:

Ameriwest Lithium Inc.
Financier Relations
416 918-6785

The Canadian Securities Exchange has not in any method passed upon the benefits of the matters referenced herein and has actually neither authorized nor disapproved the contents of this press release.

Care Regarding Forward-Looking Information

Specific declarations included in this press release might make up forward‐looking info. Forward‐looking info is typically, however not constantly, recognized by the usage of words such as “expect”, “strategy”, “price quote”, “anticipate”, “might”, “will”, “mean”, “must”, and comparable expressions. Forward‐looking details includes recognized and unidentified threats, unpredictabilities and other elements that might trigger real outcomes or occasions to vary materially from those prepared for in such forward‐looking details. The Company’s real outcomes might vary materially from those prepared for in this forward‐looking info as an outcome of regulative choices, competitive consider the markets in which the Company runs, dominating financial conditions, modifications to the Company’s tactical development strategies, and other elements, a number of which are beyond the control of the Company. The Company thinks that the expectations shown in the forward‐looking details are affordable, however no guarantee can be considered that these expectations will show to be right and such forward‐looking info needs to not be unduly trusted. Any forward‐looking details consisted of in this press release represents the Company’s expectations since the date hereof, and goes through alter after such date. The Company disclaims any intent or responsibility to upgrade or modify any forward‐looking details whether as an outcome of brand-new info, future occasions or otherwise, other than as needed by relevant securities legislation.

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