Mr. Warren Stanyer reports
NEVADA SUNRISE COMPLETES SALE OF JOINT VENTURE INTEREST IN THE KINSLEY MOUNTAIN GOLD PROJECT, NEVADA
Nevada Sunrise Metals Corp. has closed its transaction with Copaur Minerals Inc. previously announced July 8, 2024. Copaur has acquired Nevada Sunrise's 18.74-per-cent ownership interest in the Kinsley Mountain gold project joint venture in Nevada.
Copaur acquired Nevada Sunrise's minority ownership interest in Kinsley Gold LLC, the joint venture vehicle that holds rights to Kinsley Mountain, pursuant to a purchase and sale agreement dated Aug. 8, 2024, in consideration of the payment of $475,000 in cash and the issuance to Nevada Sunrise of one million common shares of Copaur. The consideration shares are subject to a four-month statutory hold period and voluntary hold periods for an additional nine-month period. The first 250,000 consideration shares will be released on expiry of the hold period, and the remaining shares will subsequently be released in equal tranches every three months.
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 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 in Esmeralda county, Nevada, and in the Pelican lithium project in Saskatchewan, Canada.
Gemini is located near Gold Point, Nev., adjacent to the Bureau of Land Management's Gold Point solar energy zone, and hosts a National Instrument 43-101-compliant inferred lithium resource estimated at approximately 1.3 million tonnes lithium, or 7.1 million tonnes lithium carbonate equivalent contained within 1.2 billion tonnes of lithium-mineralized clay at an average grade of approximately 1,130 parts per million lithium (review the "NI 43-101 Technical Report, Resource Estimate for Gemini Lithium Project, Esmeralda County, Nevada," dated March 8, 2024).
As a complement to future development of its Gemini lithium resource, the company owns Nevada water right permit 86863 in the Lida Valley basin, comprising 80.09 acres per feet per year.
Nevada Sunrise has the right to earn a 100-per-cent interest in the Coronado copper project, located approximately 48 kilometres (30 miles) southeast of Winnemucca, Nev.
We seek Safe Harbor.
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