Modern assays return 110.0 ft (33.5 m) grading 5.87% CuEq, including 71.0 ft (21.6 m) grading 8.08% CuEq as Ameriwest's re-sampling program continues to deliver high-grade mineralized intervals
VANCOUVER, BC / ACCESS Newswire / October 28, 2026 / Ameriwest Critical Metals Inc. (CSE:AWCM)(OTCQB:AWLIF)(FSE:5HV) ("Ameriwest" or the "Company") is pleased to announce additional results from its ongoing program (the "Re-sampling Program") of re-sampling and assaying preserved historical drill core at its 100%-owned Bornite copper-gold-silver (Cu-Au-Ag) project in Oregon ("Bornite" or the "Project").
Highlights
- Hole CC30: 110.0 feet (ft) (33.5 meters (m)) core length grading 5.87% Copper Equivalent(1) (CuEq) from a depth of 250.0 ft to 360.0 ft (76.2 m to 109.7 m).
- The interval includes a higher-grade interval of 71.0 ft (21.6 m) core length grading 8.08% CuEq from a depth of 269.0 ft to 340.0 ft (82.0 m to 103.6 m).
- Modern copper assays exceed historical values: Modern copper grades are approximately 6% higher over the 110.0 ft (33.5 m) interval and 6% higher over the included 71.0 ft (21.6 m) interval compared to the corresponding historical interval grades.
- Results from the third historical hole adds to the Company's modern assay database: CC30 follows the previously announced results from CC24 and CC26 (see press release dated October 14, 2026), providing additional information about copper and other mineralization within the Bornite breccia pipe system.
- Results from four additional historical holes remain pending from the current seven-hole Re-sampling Program.
The results represent an important step in the Company's ongoing evaluation of the historical drilling database and its objective of determining the technical work required to support the preparation of an initial current mineral resource estimate at Bornite. The Re-sampling Program involves collecting new quarter core samples from preserved portions of historical half drill core, originally drilled between 1976 and 1990, and analyzing those samples using modern laboratory methods.
David Watkinson, President and CEO of Ameriwest, commented: "An interval of 71.0 ft (21.6m) grading 6.11% Cu (8.08% CuEq) is a result that speaks for itself. When you consider that it sits within a broader 110.0-foot (33.5 m) interval grading 4.47% Cu (5.87% CuEq), these are impressive copper grades. This is now the third historical drill hole from which we have reported substantial copper mineralization through modern assaying, and CC30 has delivered the highest copper grade among the principal intervals we have highlighted to date."
"What is particularly encouraging is that the modern copper assays are also higher than the original historical results over the same intervals. We are building on the extensive work completed by previous operators while adding new analytical information that will help us better understand the Bornite mineralized system. With four additional holes yet to be reported, we believe there is much more to learn about this Project."
Modern Assay Results
The Re-Sampling Program is designed to evaluate the reliability and consistency of historical Cu, Au, and Ag assay information through comparison with modern assay analyses at Bornite.
Selected intervals of preserved historical core are being re-sampled by cutting the remaining half-core into quarter-core samples and submitting them for laboratory analysis. The Re-Sampling Program also includes expanded multi-element analysis to evaluate the presence and distribution of other metals that may be associated with the Bornite mineralized system.
Tables 1 and 2 below shows assay intercepts from drill hole CC30 for Cu, Au, and Ag, and includes historical intercepts for comparison. The intercepts are based on CuEq grades greater than or equal to 0.5% CuEq, with additional "including" intercepts within the larger intervals of greater than or equal to 1.5% CuEq. The Re-sampling Program involved re-sampling and assaying selected intervals of preserved core from this hole. Historical drill hole CC30 has a total recorded lengths of 690.0 ft.
Table 1 (Imperial Units)
Bornite Project - Modern Assay Results Compared with Historical Assay Results
Significant Intercepts ≥ 0.5% CuEq (Including Subintervals ≥ 1.5% CuEq)
| HOLE # | From (ft) | To (ft) | Length (ft) | Cu (%) | Ag (opt) | Au (opt) | CuEq(1) (%) |
| CC30 Historical Assay | 250.0 | 360.0 | 110.0 | 4.21 | 0.35 | 0.03 | 5.94 |
| including | 269.0 | 340.0 | 71.0 | 5.68 | 0.41 | 0.04 | 7.74 |
| CC30 Modern Assay | 250.0 | 360.0 | 110.0 | 4.47 | 0.42 | 0.02 | 5.87 |
| including | 269.0 | 340.0 | 71.0 | 6.11 | 0.55 | 0.03 | 8.08 |
Table 2 (Metric Units)
Bornite Project - Modern Assay Results Compared with Historical Assay Results
Significant Intercepts ≥ 0.5% CuEq (Including Subintervals ≥ 1.5% CuEq)
| HOLE # | From (m) | To (m) | Length (m) | Cu (%) | Ag (g/t) | Au (g/t) | CuEq(1) (%) |
| CC30 Historical Assay | 76.2 | 109.7 | 33.5 | 4.21 | 12.03 | 1.10 | 5.94 |
| including | 82.0 | 103.6 | 21.6 | 5.68 | 14.06 | 1.30 | 7.74 |
| CC30 Modern Assay | 76.2 | 109.7 | 33.5 | 4.47 | 14.54 | 0.79 | 5.87 |
| including | 82.0 | 103.6 | 21.6 | 6.11 | 18.89 | 1.13 | 8.08 |
(1) Note: In this news release, all intervals are downhole lengths; true widths are currently unknown. CuEq grades were calculated using a Cu price of US$6.40 per pound, an Au price of US$4,500 per ounce, and an Ag price of US$75 per ounce. CuEq grades are calculated according to the formula: CuEq grade = (Cu grade) + (45.67641 x Au grade) + (0.80357 x Ag grade). Cu recovery of 95%, Au recovery of 90%, and Ag recovery of 95% were used, based on historical metallurgical test work completed by Plexus Resources and outlined in the Bornite Project Prefeasibility Analysis dated December 1992 which included metallurgical work by Dawson Metallurgical Laboratories. This data and analysis are historical in nature, predating the implementation of National Instrument 43-101 ("NI 43-101") and CIM standards and has not been verified by an independent Qualified Person. The Company is treating all of the information in the 1992 analysis and report as historical. The same methodology was used to calculate CuEq grades in Ameriwest's news releases dated June 3, 2026, and October 14, 2026.
Historical Drilling
The historical drilling database reviewed by Ameriwest includes information for 48 drill holes completed by Amoco, Cypress Minerals, and Plexus Resources between 1976 and 1990. This current database consists of 38,914.5 ft (11,861.1 m) of historical drilling; however, historical records reviewed by the Company indicate that approximately 41,702.0 ft (12,710.8 m) of drilling were completed at Bornite. The difference between the current database total and the historical reported total footage may relate to the lack of currently available information for holes CC07 and CC21 and/or to other historical holes drilled by those companies in the regional area that were not part of the Bornite target. Significant historical drill intercepts were released by Ameriwest in a June 3, 2026, press release. According to historical work completed by Plexus, drill cores were logged for structure, lithology, estimated copper grade, core recovery, and RQD. Samples were generally collected from core at 10-foot intervals, except where a sharp lithological break occurred within a 10-foot (3.0 m) interval. The majority of assays completed for Plexus were performed by Bondar-Clegg in Vancouver, British Columbia. Copper was analyzed by multi-acid digestion and atomic absorption spectroscopy. Gold and silver were determined using standard one-assay-ton fire assay methods.
Advancing the Bornite Mineralized System
Bornite hosts copper-gold-silver mineralization principally associated with bornite and chalcopyrite within a steeply oriented breccia pipe. Historical exploration and preliminary geological modelling have identified three principal mineralized domains:
- A historically identified higher-grade copper-bearing breccia and fractured shell near the perimeter of the breccia pipe;
- A lower-grade mineralized interior within the pipe; and
- Sheeted vein mineralization associated with the surrounding rock.
The Company previously announced the completion of a preliminary 3D geological model by APEX Geoscience Ltd. ("APEX"), developed using the historical drilling database. The modern assay results are intended to provide additional information to evaluate the characteristics and distribution of mineralization within the Bornite system. Further work is required to establish the extent, continuity and potential economic significance of the mineralized zones.
No current mineral resources or mineral reserves have been established at Bornite, and no economic viability has been demonstrated.
Next Steps
Ameriwest continues to advance its staged technical evaluation of Bornite, with priorities including:
- Additional assay results: Review and report further results from historical drill holes included in the Re-sampling Program, as appropriate and in accordance with applicable disclosure requirements.
- Historical data verification: Complete comparisons between modern and historical assays to assess analytical reliability, sampling variability and possible data limitations.
- Geological modelling: Integrate the new results with existing geological interpretations, core logging and the historical drill hole database.
- Multi-element analysis: Evaluate additional analytical results to improve the understanding of the geochemical characteristics of the Bornite mineralized system.
- Future exploration planning: Continue technical planning and permitting activities for potential drilling designed to provide additional geological, metallurgical and resource evaluation information.
Upon completion of the Re-sampling Program and relevant verification work, the Company intends to assess the additional technical work required to support the possible preparation of an initial current mineral resource estimate in accordance with National Instrument 43-101 ("NI 43-101") and CIM Definition Standards.
Additional drilling and other technical studies may be necessary, and there can be no assurance that a current mineral resource will be established.
Sampling, Analytical Procedures and QA/QC for the Re-sampling Program
Selected intervals of preserved historical drill core were reviewed, photographed and sampled under the supervision of APEX personnel and an independent Qualified Person (QP) Mr. Michael Dufresne, M.Sc., P.Geol., P.Geo. Quarter-core samples were obtained by sawing the remaining half-core and were submitted under chain of custody to ALS Global Geochemistry (ALS) in Reno, Nevada, an independent analytical laboratory accredited to ISO/IEC 17025.
Sample preparation consisted of ALS CRU-31. Cu, Ag, and multi-element analyses were completed using ME-MS61 which includes four acid digestion of a 0.25 g aliquot and Inductively Coupled Plasma Mass Spectrometry (ICP-MS) analysis, with over-limit analyses completed using four acid digestion of a 0.4 g aliquot and Atomic Absorption analysis (AAS). Au was analyzed using ALS Au-ICP21, which includes fire assay with a 30 g aliquot followed by ICP finish for analysis.
The Company's QA/QC program for the assay work included a series of Au and Cu CRMs inserted at a frequency of approximately 1 in every 10 samples. The laboratory's internal QA/QC procedures included the analysis of a number of CRMs, blanks and duplicates. The QP reviewed the analytical and QA/QC results and determined the results to be acceptable for the purposes of this disclosure.
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.
The modern sampling, assaying and the scientific and technical content of this news release have been reviewed and approved by Mr. Michael Dufresne, M.Sc., P.Geol., P.Geo., an independent qualified person as defined by NI 43-101.
About Ameriwest Critical Metals Inc.
Ameriwest is an exploration company focused on identifying and advancing strategic critical mineral projects in North America. The Company is currently advancing its Bornite Cu-Au-Ag project in Oregon 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 outlining the terms of 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 forward-looking information within the meaning of applicable Canadian securities legislation. Such statements include, but are not limited to, statements concerning the completion and results of the Company's historical drill core sampling and assaying program, evaluation and verification of historical exploration information, geological modelling, multi-element analysis, exploration permitting, potential future drilling, metallurgical work and the possible preparation of a current mineral resource estimate.
Forward-looking information is based on assumptions and expectations considered reasonable by the Company as of the date of this release but 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. These factors include, without limitation, uncertainties relating to mineral exploration, historical information and sample integrity, analytical results, geological interpretations, mineral resource estimation, metal prices, metallurgical recoveries, permitting, financing, environmental and regulatory requirements and other risks inherent in mineral exploration and development.
There is no assurance that the ongoing historical data verification program will establish the suitability of the historical drilling database for a current mineral resource estimate, that additional mineralization will be identified or that the Bornite Project will be determined to be economically viable.
Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise such information except as required by applicable securities laws.
SOURCE: Ameriwest Critical Metals Inc.
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