Mr. Warren Stanyer reports

NEVADA SUNRISE CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT

Nevada Sunrise Metals Corp. has closed the second and final tranche of its previously reported non-brokered private placement (see Nevada Sunrise news releases dated Aug. 16, 2023, and Sept. 15, 2023) consisting of 6.11 million units at a price of eight cents per unit for gross proceeds of $488,800. A total of 9,672,500 units were sold in the offering in two tranches for gross proceeds of $773,800.

Each unit consists of one common share and one common share purchase warrant of the company. One warrant entitles the holder to purchase one share of the company at a price of 12 cents for a period expiring 24 months following the closing date of the offering.

In connection with the closing of the second tranche, the company paid finders' fees consisting of a total of $3,248 in cash and 40,600 finders' units to: (1) Haywood Securities Inc.: $1,148 in cash and 14,350 finder units; and (2) Canaccord Genuity Corp.: $2,100 in cash and 26,250 finder units. Finders' units are exercisable at the price of a unit placed (eight cents) for one share of the company and one warrant, with each warrant entitling the finder to purchase one share of the company at a price of 12 cents for a period expiring 24 months following the closing date of the offering. Total finders' fees paid in the offering were $8,568 in cash and 107,100 finders' units.

All securities issued in the second tranche of the offering are subject to a hold period of four months plus one day from the closing date, with the hold period expiring on Feb. 27, 2024, during which time the securities may not be traded.

Proceeds of the offering will be used for:

• Completion of a National Instrument 43-101-compliant mineral resource estimate for the Gemini lithium project located in Esmeralda county, Nevada;
• Completion of a preliminary economic assessment in conjunction with the release of a maiden mineral resource estimate for Gemini;
• Exploration work on the company's mineral properties;
• Other lithium property investigations and general working capital.

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, all of which are located in the Lida Valley basin in Esmeralda county, Nevada, located just east of the Clayton Valley basin, which hosts the only producing lithium mine in the United States operated by Albemarle Corp. at Silver Peak, Nev. 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 gold (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 2.0 g/t Au (1). The company has elected not to contribute to the 2023 exploration program at Kinsley Mountain and expects to incur dilution of its participating interest in the joint venture to an approximate 19.0-per-cent interest.

(1) Technical report on the Kinsley project, Elko county, Nevada, United States, dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin, PhD, and Gary L. Simmons, MMSA, and filed under New Placer Dome Gold Corp.'s issuer profile on SEDAR+.

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.