Ameriwest Critical Metals Secures 100% Ownership of Xeno Rare Earth Project as Yttrium Gains Strategic Focus

Ameriwest Critical Metals Inc. has successfully acquired 100% ownership of the Xeno Rare Earth project in British Columbia, completing a strategic acquisition that strengthens its critical minerals portfolio at a time of heightened focus on secure North American supply chains. The company completed the purchase through a modified agreement requiring a one-time $10,000 cash payment and the issuance of 1,000,000 shares at $0.26 per share, while eliminating the original $125,000 exploration expenditure commitment.

The Xeno property comprises two mineral claim units totaling 784.31 hectares located approximately 140 kilometers east of Dease Lake, British Columbia. Historical exploration has identified the presence of multiple rare earth minerals including yttrium oxide, dysprosium oxide, europium oxide, lanthanum oxide, cerium oxide, and neodymium oxide. The property's exploration history dates back to 1968 with the original discovery of fluorite mineralization, and subsequent work has examined both rare earth and diamond potential.

The timing of this acquisition appears strategically aligned with growing North American focus on critical mineral security, particularly for yttrium which has applications in advanced technologies and defense systems. As the United States and allied nations seek to strengthen domestic and friendly-jurisdiction supply chains, projects like Xeno may gain increased strategic relevance. The acquisition complements Ameriwest's existing portfolio of copper, lithium, and gold-silver assets across multiple North American jurisdictions.

Ameriwest plans to begin with a comprehensive review of historical exploration data to develop an initial 2026 exploration program. Early-stage work is expected to include rock chip sampling, soil sampling, and geophysics aimed at developing drill targets. The company's diversified critical minerals strategy positions it to capitalize on long-term industrial and technology trends while maintaining exposure to multiple commodity sectors through its properties in British Columbia, Oregon, Arizona, and Nevada.