VANCOUVER, British Columbia, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to provide an update to the Company’s news release dated September 20, 2021 which announced the staking of a now-amended 829 placer mineral claims covering an area of 15,735 acres in the Edward’s Creek Valley, Nevada (“ECV” or the “Property”).
The staking program positions Ameriwest to have effectively tied up the entire valley, an area roughly 8.25 miles long and 3.25 miles wide in size. The Company believes the mineral claims are highly prospective for the discovery of lithium brines deposits.
Following the staking, Ameriwest has initiated a 2-phase geophysical program at ECV. Phase 1 consists of a gravity survey of approximately 250 stations (800 by 800-meter grid) over the entire Property. Gravity surveys are carried out to map subsurface density contrasts caused by geological structures. The gravity survey commenced on November 12th with an expected completion date of November 19th. The collected gravity data will then be immediately processed and interpreted.
This will be followed up by a Phase 2 Magnetotelluric (MT) survey conducted by Zonge International Inc. that consists of four profiles for a total of 22.4 kilometres of MT line’s. The MT geophysical survey method combines measurements of the earth’s electric field and magnetic field over a wide band of frequencies. Low frequencies sample deep into the earth and high frequencies correspond to shallow samples. The Zonge field crew is being mobilized for a November 19th start up.
In related news, Ameriwest is pleased to announce that the Company has entered into an online marketing agreement dated November 15, 2021 (the “Agreement”) with Think Ink Marketing Inc., a California-based communications firm (“Think Ink”), pursuant to which Think Ink will design, create, and distribute advertising content on Ameriwest’s behalf. The Agreement contemplates that Think Ink will provide the services for an initial one-month term commencing on December 15, 2021 which may be terminated at the Company’s option at any time upon 10 days’ notice in writing to Think Ink.
The primary purpose of the Agreement is to enhance Ameriwest’s exposure among mining industry stakeholders and investors in the United States. Importantly, the Agreement contains strict prohibitions on Think Ink (i) distributing any materials in respect of Ameriwest without the express written approval of the Company’s CEO, and (ii) undertaking any activities that may require Think Ink to register as a broker-dealer in the Unites States or elsewhere. In exchange for the services being provided by Think Ink under the Agreement, which are not intended to constitute “Investor Relations Activities” as that term is defined in the policies of the Canadian Securities Exchange, the Company has agreed to pay Think Ink a non-refundable fee of US$100,000 for the duration of the initial term. Ameriwest and Think Ink may renew the Agreement for successive one-month terms at the rate of US$100,000 per month.
The Agreement contains standard covenants of the parties, as well as reciprocal confidentiality provisions, intellectual property protections and indemnification language.
Ameriwest invites interested stakeholders and shareholders alike to contact our investor relations team or visit our website and sign-up for regular news alerts which will help provide timely updates of ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.
On Behalf of the Board of Directors,
David Watkinson
President and Chief Executive Officer
For further information, please contact:
Invictus Investor Relations
Tel: +1 (604) 343-8661
info@ameriwestlithium.com
https://ameriwestlithium.com/
About Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0)
Ameriwest Lithium Inc. is a Canadian-based exploration company with a focus on identifying strategic lithium mineral resource projects for exploration and development. The Company is currently focused on exploring Nevada’s Deer Musk East property, located in the prolific Clayton Valley, totalling 5,600 acres, the Railroad Valley property, totalling 9,097 acres, the Edwards Creek Valley totalling 15,735 acres and Arizona’s Thompson Valley totalling 2,859 acres. Additionally, Ameriwest’s current resource portfolio includes the ESN Project, located in White Pine County, Nevada, and the Koster Dam property, located in the Clinton Mining Division of British Columbia, in which Ameriwest has a 45% interest.
For more information visit: https://ameriwestlithium.com/.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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.
