Ameriwest Critical Metals Inc. — Capital/Financing Update 2023

Apr 24, 2023

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1: Name and Address of Company

Ameriwest Lithium Inc. (“ Ameriwest ” or the “Company ”) Suite 306, 1106 Hamilton Street, Vancouver, British Columbia, Canada, V6B 2S2.

Item 2: Date of Material Change

April 21, 2023.

Item 3: News Release

A news release dated April 21, 2023 was disseminated via Globe Newswire and subsequently filed on SEDAR.

Item 4: Summary of Material Change

On April 21, 2023, the Company issued a news release announcing that it is increasing the maximum number of units of the Company (each, a “ Unit ”), issuable in connection with its previously disclosed non-brokered private placement to, 12,500,000 Units, at a subscription price of $0.20 per Unit (the “ Offering ”),

Item 5 Full Description of Material Change

On April 21, 2023, the Company issued a news release announcing that it is increasing the maximum number of Units of the Company, issuable in connection with its previously disclosed nonbrokered private placement to, 12,500,000 Units, at a subscription price of $0.20 per Unit.

Each Unit will still be comprised of one common share in the capital of the Company (each, a “ Share ”) and one common share purchase warrant (each, a “ Warrant ”). Each Warrant will still entitle the holder thereof to acquire one additional share (each, a “ Warrant Share ”), at an exercise price of $0.25 per Warrant Share, for a period of 24 months from the closing date of the Offering.

The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions and, therefore, the securities issued in the Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering that will be available under the Company’s profile at www.sedar.com and at https://ameriwestlithium.com/. Additionally, the Company will be uploading an amended and restated offering document, which will account for the increase in the size of the Offering and provide additional information to the offering document dated April 5, 2023, which has been previously made available.

Prospective purchasers should read this offering document before making an investment decision.

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The securities issued pursuant to the Offering have not, nor will they be, registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

Item 6: Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

Item 7: Omitted Information

Not applicable.

Item 8: Executive Officer

Glenn Collick, COO and a director 778.868.2226 info@ameriwestlithium.com.

Item 9: Date of Report

April 21, 2023.

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