Ameriwest Critical Metals Inc. — Regulatory Filings 2022

Oct 14, 2022

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, BC V6B 2S2

Item 2: Date of Material Change

October 5, 2022

Item 3: News Release

A news release dated October 5, 2022 was disseminated via Globe Newswire and subsequently filed on SEDAR.

Item 4: Summary of Material Change

The Company announced that results from a magnetotelluric (“MT”) geophysical survey (the “MT Survey”) at its Edwards Creek Valley Property (“Edwards Creek” or the “Property”), Nevada show potential for the property, located about 120 miles east of Reno, to host a much larger shallow brine target than previously thought.

Item 5 Full Description of Material Change

David Watkinson, President, and CEO of Ameriwest stated, “We are extremely excited by the results of the MT Survey, especially the delineation of a large near surface brine target that appears to be almost 20 square kilometers in size. The Company plans to move forward with permitting to test this shallow target with drilling and will ultimately follow up with testing of the deeper targets in the future.”

Edwards Creek consist of 1,243 contiguous claims totaling 22,200 acres. The Company completed six MT lines as part of the MT Survey to cover the claim area shown in Figure 1. An MT Survey measures electrical resistivity of the subsurface. Low electrical resistivity, which is the same as high electrical conductivity, is known to be caused by the presence of highly saline water within the pores of a host reservoir. The saline water, or brine, may host lithium. For example, brine deposits with lithium are found in Clayton Valley, Nevada, including Albemarle’s operating Silver Peak Mine.

Several deeper conductivity zones, shown in red, are also apparent from the MT 2D inversions, and these seem to be zones of conductivity with trends similar in orientation (northwest to southeast) to the shallow zone. Depths of the deeper zones range from 500 to 900 m (1,600 to 3,000 ft) deep and in some instances as deep as 1,400 m (4,600 ft). It is not yet known whether the shallow or deep low-resistivities are related to the presence of geothermal resources (hot springs) in the area as shown on the map.

Note that the presence of low resistivity zones, meaning high conductivity intervals, is likely an indication of highly saline aquifers. However, there is no assurance that there are significant lithium concentrations within the brine or that a commercial resource has been discovered. Only drilling and sampling of the water can prove the existence of a lithium resource. Any similarity to projects such as Albemarle’s Silver Peak Mine does not guarantee exploration success at Edwards Creek as mineral resources or reserves have yet to be delineated on the Property.

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

N/A

Item 7: Omitted Information

N/A

Item 8: Executive Officer

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

Item 9: Date of Report

October 14, 2022

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