Mr. Warren Stanyer reports

NEVADA SUNRISE PROVIDES LITHIUM-MINERALIZED CLAYS FOR SUPER CRITICAL CARBON DIOXIDE EXTRACTION TESTING, GEMINI LITHIUM PROJECT, NEVADA

A novel form of metallurgical testing is under way on lithium mineralization from Nevada Sunrise Metals Corp.'s 100-per-cent-owned Gemini lithium project in Nevada, utilizing supercritical carbon dioxide as a leaching agent. A new patent granted by the U.S. Patent and Trademark Office in August, 2023, to the company's consultant, Willem Duyvesteyn, MSc, of Extractive Metallurgy Consultants LLC of Reno, Nev. (EMC), is currently being tested on Gemini clay mineralization. EMC's patented process could revolutionize the extraction of lithium from clay deposits by offering a green processing method while at the same time providing in-ground sequestration of captured carbon dioxide.

About supercritical carbon dioxide

Supercritical carbon dioxide (scCD or sc CO2) is used extensively in chemical industries, including, for example, for the production of decaffeinated coffee and various plant oils and extracts. Carbon dioxide (CO2) reaches a supercritical state at 1,071 pounds per square inch (75.299 kilograms/square centimetre) pressure and a temperature of 87.98 degrees F (31.1 degrees), whereupon it attains the properties of both liquid and gas and can be utilized as a fast-acting solvent. Most importantly, scCD has been extensively investigated for the sequestration of CO2 in various geological formations, including clay-type deposits.

It is commonly believed that lithium present in clay or claystone deposits is held in the interlayer between the silica sheets of clays, such as smectite (hectorite) or illite (tainiolite), and is not very strongly bound. In the scCD extraction process proposed by EMC, CO2 is converted to bicarbonate and this anion is readily picked up by the freed lithium-ion, forming a water-soluble lithium bicarbonate. The resulting lithium bicarbonate compound is much more soluble than lithium carbonate. Some water in the interlayer will be displaced by CO2 and therefore will provide opportunities to sequester CO2, thus providing an environmentally friendly method of lithium extraction while establishing a unique form of carbon capture.

While the initial focus of the scCD testing is on the ex situ, or off-site, processing of lithium-bearing clays, EMC has also identified the opportunity to use an in situ approach employing freeze walls to contain the CO2 in a section of a lithium-bearing clay deposit while implementing carbon capture of the CO2 used during the lithium extraction process.

Results of the scCD testing of Gemini lithium-in-clay mineralization are expected in Q4 2023.

About Gemini

Gemini consists of 291 unpatented claims on Bureau of Land Management land covering approximately 5,600 acres (2,266 hectares) located in the western Lida Valley, Esmeralda county, approximately six miles (10 kilometres) east of the town of Lida, Nev. The Lida Valley is a flat, arid basin with a similar geological setting to the better-known Clayton Valley basin where Albemarle Corp. operates the Silver Peak lithium brine mine, which has operated continuously since 1966.

Gemini is situated adjacent to the Gold Point solar energy zone, a BLM land reserve set aside for solar and wind power generation projects until 2033. Exploration at Gemini is complemented by the company's 80.09 acre/feet/year water right, a prerequisite for the exploration and development of lithium projects in Nevada.

In March and April, 2022, Nevada Sunrise drilled two reverse circulation boreholes for a total of 2,020 feet (615.85 metres) in its maiden drilling program at Gemini. 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 mineralization in the western Lida Valley, which was not historically drill tested for lithium (see Nevada Sunrise news release dated May 18, 2022). 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. Three additional boreholes were completed from October, 2022, to April, 2023, with each intersecting lithium mineralization (see Nevada Sunrise news release dated May 24, 2023).

Nevada Sunrise believes that the southern and western parts of the Gemini basin are highly prospective for additional lithium mineralization and that further drilling could eventually define a large lithium resource. The company has engaged ABH Engineering Inc. of Surrey, B.C., Canada, to calculate a National Instrument 43-101 compliant resource estimate leading to a preliminary economic assessment of the lithium-bearing zones at Gemini.

Initial metallurgical tests carried out by Nevada Sunrise achieved a 90.2-per-cent lithium extraction rate from the Gemini clay mineralization, a rate which compares favourably with the average lithium extraction of 84 per cent reported by Lithium Americas at its Thacker Pass lithium project. Follow-up testing of the resulting leach solutions at the facilities of McClelland Laboratories Inc. in Sparks, Nev., produced a sample that was near 100 per cent lithium carbonate (see Nevada Sunrise news release dated July 31, 2023).

Statement of qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Duyvesteyn, MSc, who is a qualified person for Nevada Sunrise as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Nevada Sunrise Metals Corp.

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, B.C., Canada, that holds interests in lithium, gold and copper exploration projects located in the state of Nevada, United States.

Nevada Sunrise owns 100-per-cent interests in the Gemini, Jackson Wash and Badlands lithium projects, with no applicable royalties, all of which are located in the Lida Valley in Esmeralda county, Nevada. The company owns Nevada water right permit 86863, also located in the Lida Valley basin, near Lida, Nev.

The company's key gold asset is a 20.01-per-cent interest in a joint venture at the Kinsley Mountain gold project near Wendover, Nev., with Copaur Minerals Inc. Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 grams per tonne Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to two g/t Au. The company has elected not to contribute to the 2023 exploration program at Kinsley Mountain and projects to incur dilution of its participating interest in the joint venture to an approximate 19-per-cent interest.

Nevada Sunrise has the right to earn a 100-per-cent interest in the Coronado volcanogenic massive sulphide project, located approximately 48 kilometres (30 miles) southeast of Winnemucca, Nev.

We seek Safe Harbor.