Published: October 30, 2026 |

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Pure Energy Minerals has entered into a non-binding letter of intent with Ameriwest Critical Metals where it will acquire a 100 percent interest in Ameriwest’s Railroad Valley Property located in Nye County, Nevada.

The property consists of 213 unpatented mineral claims covering a prospective lithium brine target in the prospective Railroad Valley basin.

“The acquisition of the Railroad Valley Property is a natural fit for Pure Energy as we continue to expand our footprint in Nevada’s premier lithium basins. We look forward to working closely with Ameriwest to finalize the definitive agreement and welcome them as a significant shareholder in Pure Energy,” said William Morton, CEO of Pure Energy.

Following the execution of the LOI, Pure Energy and Ameriwest will work in good faith toward negotiating and executing a definitive agreement within 30 days. The transaction is subject to regulatory approval, including the approval of the TSXV. Regulatory approvals are anticipated within 90 days, with final transfer of the property claims to be completed within 30 days following closing.

Pure Energy is a mineral exploration company transitioned toward a new phase of corporate growth. Following the successful option-out of its Clayton Valley Project, the company is currently focused on the evaluation of new strategic prospects. The company is committed to a disciplined acquisition strategy aimed to create long-term shareholder value.

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