Nevada Sunrise drills 1,321 ppm lithium over 990 feet at Gemini, Nevada

VANCOUVER – Nevada Sunrise Metals Corp. [NEV-TSXV; NVSGF-OTC] has received initial geochemical analyses for lithium mineralization in sediment and groundwater samples collected from the first 1,500 feet (457.32 metres) of borehole GEM23-04, drilled at its 100%-owned Gemini Lithium Project located in the Lida Valley basin in Esmeralda County, Nevada.

Drilling of borehole GEM23-04 began on January 10, 2023, and was completed to a depth of 1,950 feet (594.51 metres) February 22, 2023, which represents the deepest hole drilled to date at Gemini. The remaining samples collected in the final 450 feet (137.20 metres) of hole GEM23-04 are still in analytical process.

Highlights of GEM23-04: Borehole GEM23-04 intersected 1,321.76 parts per million (ppm) lithium-in-sediment over 990 feet (301.83 metres) from 510 feet (155.49 metres) to 1,500 feet (457.32 metres), including 3,556.82 ppm lithium over 110 feet (33.54 metres) and 4,329.60 ppm lithium over 30 feet (9.15 metres).

Water sample analyses showed anomalous concentrations of lithium in groundwater flows, notably an average of 116.43 milligrams/litre (mg/L) lithium over 140 feet (42.69 metres), including intervals of 180 mg/L lithium from 1,200 to 1,220 feet (365.85 to 371.95 metres), 230 mg/L lithium from 1,260 to 1,280 feet (384.15 to 390.24 metres), and 200 mg/L lithium from 1,320 to 1,340 feet (402.44 to 408.54 metres). A second discrete interval higher up in the borehole returned 200 mg/L lithium over 20 feet (6.1 metres) from 1,100 to 1,120 feet (335.37 to 341.46 metres).

GEM23-04 was completed at a location approximately 0.70 miles (1.13 km) southwest of GEM22-01 and 0.65 miles (1.04 km) northwest of GEM22-02, thereby successfully extending the lithium mineralized zone at Gemini to the west.

The Phase 2 drilling program at Gemini continues with borehole GEM23-05, currently underway, collared approximately 1.02 miles (1.64 km) southeast of borehole GEM23-04, and 0.54 miles (0.87 km) south of borehole GEM22-02.

To date, the Company has intersected significant intervals of lithium mineralization both in sediments and groundwater in all four holes completed since the inception of drilling. Nevada Sunrise believes that the southern and western parts of the Gemini basin could host higher concentrations of lithium and further drilling could eventually define a large lithium resource.

The company is enacting its exploration plan to drill deeper holes at Gemini with the goal of intersecting wide intervals of lithium-bearing sediments and locating higher concentrations of lithium-in-water coincident with significant groundwater flow rates.

Nevada Sunrise drilled two reverse circulation (“RC”) boreholes for a total of 2,020 feet (615.85 metres) in its maiden drilling program at Gemini in March and April 2022. The drill sites were located within a defined gravity low that hosts conductive layers detected by historical ground electromagnetic surveys. The results from the first two holes at Gemini represented a new discovery of lithium-bearing sediments and lithium-in-water in the western Lida Valley, which was not historically drill tested for lithium mineralization. Borehole GEM22-03, drilled to 1,620 feet (493.9 metres) intersected the same sequence of volcanic ash sediments as was found in GEM22-01 and GEM22-02, and similar geologic formations are observed in borehole GEM23-04, and GEM23-05, still in progress.

In July 2022, Nevada Sunrise received a permit for an expanded drilling area from the Bureau of Land Management and began Phase 2 drilling at Gemini in October 2022. Up to six boreholes are planned in Phase 2 for an estimated total of 8,000 feet (2,439 metres) of drilling.

Gemini consists of 582 unpatented placer and lode claims located in the western Lida Valley, Esmeralda County, approximately 6 miles (10 km) east of the town of Lida, Nevada.

Exploration at Gemini is complemented by the company’s 80.09 acre/feet/year water right, a pre-requisite for the exploration and development of lithium brine projects in Nevada.

Nevada Sunrise owns 100% interests in the Gemini and Jackson Wash lithium projects, both of which are located in the Lida Valley.

The company’s key gold asset is a 20.01% interest in a joint venture at the Kinsley Mountain Gold Project near Wendover, Nevada with Copaur Minerals Inc. [CPAU-TSXV]. Kinsley Mountain is a Carlin-style gold project hosting a NI 43-101 compliant gold resource consisting of 418,000 indicated oz gold grading 2.63 g/t gold (4.95 million tonnes), and 117,000 inferred oz gold averaging 1.51 g/t gold (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t gold.

Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project, located approximately 48 km (30 miles) southeast of Winnemucca, Nevada. The company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 km (100 miles) east of Reno, with Global Energy Metals Corp. [GEMC-TSXV] holding an 85% participating interest.

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