Mr. Warren Stanyer reports

NEVADA SUNRISE RELEASES MAIDEN RESOURCE ESTIMATE OF 7.1 MILLION TONNES LCE ON ITS GEMINI LITHIUM PROJECT, NEVADA

ABH Engineering Inc. of Surrey, B.C., Canada, has completed a maiden resource estimate on Nevada Sunrise Metals Corp.'s Gemini lithium project in Nevada, United States, within the regulations of National Instrument 43-101. Nevada Sunrise plans to file the technical report within the next 45 days. It comprises a detailed review of the completed exploration programs, an inferred resource estimate, interpretations and conclusions, and recommendations for the next phase(s) of work.

The Gemini resource estimate was based on geochemical analyses for lithium from composite samples of material collected from the rotary splitter in the reverse circulation (RC) drilling rigs contracted by the company, which produced a continuous, representative three-to-five-kilogram sample for each sample interval (see Nevada Sunrise news releases dated April 21, 2022, April 28, 2022, May 18, 2022, and May 24, 2023). Results of the drilling proved the existence of clays mineralized with lithium, exhibiting very good geological continuity; the inferred resource was calculated for lithium carbonate hosted in the clays.

Highlights of the 2024 Gemini inferred resource estimate:

• Drilling at Gemini in 2022 to 2033 drilling was based on targets selected from geological mapping and geophysical surveys that included a detailed gravity survey and two time-domain electromagnetic (TDEM) surveys.
• Two phases of drilling were completed in five RC holes totalling 7,330 feet (2,234.18 metres):
  • Phase 1 drill holes GEM22-01 and GEM22-02 totalled 2,020 feet (615.85 metres);
  • Phase 2 drill holes GEM22-03, GEM23-04 and GEM23-05 totalled 5,310 ft (1,618.49 metres).
• Drilling to date has tested only a small portion of the project area within 844 acres (342 hectares), which represents approximately 15 per cent of the area covered by the 5,600 acres (2,266 hectares) of Bureau of Land Management unpatented lode claims.

The deposit remains open in all directions and at depth. The inferred resource estimate comprises, in an open pit-constrained resource:

• Approximately 1.3 million tonnes lithium, or 7.1 million tonnes lithium carbonate equivalent (LCE), contained within 1.2 million tonnes of lithium-mineralized clay at an average grade of approximately 1,130 parts per million (ppm) lithium;
• Lithium cut-off values of 400 ppm lithium and density of 1.7 grams per cubic centimetre were used;
• Model constraints: Faults 3 and 4; a conceptualized 24-degree pit slope, modelled from property boundaries, using a benchmark 24-degree pit slope from several other Nevada lithium clay deposits.

Additional information from the metallurgical work performed by Nevada Sunrise, especially the lithium recovery rate and the fact that LCE was produced in a bench-test study, is described in the company's news releases dated June 5, 2023, and July 31, 2023.

"We are very pleased that the maiden resource estimate has exceeded expectations," said Warren Stanyer, president and chief executive officer of Nevada Sunrise. "With only five holes drilled to date in just 15 per cent of the project area, Gemini has emerged as one of the world's largest lithium resources, and the fourth largest in the United States. We look forward to additional exploration at the project to effectively expand the size of the resource, leading to the production of a preliminary economic assessment."

The technical information contained in this news release has been reviewed and approved by Damir Cukor, PGeo, who is a qualified person with respect to Nevada Sunrise's Gemini lithium project, as defined under National Instrument 43-101.

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, U.S.

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 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 at the Kinsley Mountain gold project near Wendover, Nev., in a joint venture with Copaur Minerals Inc. Due to its focus on lithium exploration and development in Nevada, the company elected not to contribute to the 2023 exploration program at Kinsley Mountain and has diluted its participating interest in the joint venture from 20.01 per cent to an 18.74-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.

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