Mr. Stephen Rentschler reports

NEVADA LITHIUM ANNOUNCES WINTER WORK PROGRAM FOCUSED ON FURTHER ENHANCING VALUE OF THE BONNIE CLAIRE LITHIUM & BORON PROJECT

Nevada Lithium Resources Inc. has commenced with a number of discrete work projects on its 100-per-cent-owned Bonnie Claire lithium project, located in Nye county, Nevada. This winter work program is designed to examine specific questions that have arisen from the project's 2025 preliminary economic assessment (PEA) and to further evaluate the potential for additional critical mineral recovery at Bonnie Claire.

Nevada Lithium's chief executive officer, Stephen Rentschler, comments:

"We are pleased to announce that a multifaceted work program is now under way. We anticipate that these individual projects will quickly provide useful technical information with potentially positive economic implications. The potential for additional critical mineral recovery, in particular, offers an exciting possibility to increase the value of Bonnie Claire with additional revenue streams beyond lithium and boron.

"The company considers third-party due diligence to be an important derisking milestone regarding the hydraulic borehole mining method selected for use at Bonnie Claire. This project has the potential to significantly alter the completion path of a prefeasibility study in a positive way.

"A further understanding of the extremely high-grade lithium and boron at Bonnie Claire has also been a priority for our technical team. The identification of lithium residency is hoped to provide further information that will allow even more precise targeting of the very highest-grade lithium and boron mineralization strata at Bonnie Claire. This knowledge has the potential to positively impact economics through increasingly selective mining, and to impact future deposit size through enhanced exploration strategies."

Highlights

• Examination of cesium and rubidium recovery using current flowsheet;
• Technical due diligence examining the hydraulic borehole mining method (HBHM);
• Petrological analysis of claystone samples to determine lithium residence.

The company has commenced work on a number of recommendations contained in its PEA and to lay the groundwork for a larger work program in 2026. The 2026 work program is being designed to progress the project toward a prefeasibility study.

Cesium and rubidium recovery

In its news release dated Sept. 17, 2025, the company announced that significant cesium (Cs) and rubidium (Rb) mineralization had been identified at Bonnie Claire. Initial testwork indicated that these elements had advanced through the lithium/boron leaching stages of the project's PEA flow sheet and were present in the pregnant leach solution (PLS).

The company is pleased to announce that it has engaged Kemetco Research Inc. of Richmond, B.C., to complete a proof-of-concept study evaluating the potential recovery of cesium (Cs) and rubidium (Rb) from the project. Earlier work confirmed the presence of significant Cs and Rb mineralization and demonstrated that both elements advance into the PLS under the current flowsheet.

The metallurgical program will include characterization of a composite sample, confirmatory leach testing to quantify Cs and Rb extraction, and preliminary ion-exchange and adsorbent screening to assess recovery potential. This work is designed to establish whether Cs and Rb can be effectively recovered alongside lithium and to generate initial data that may support future process optimization and economic evaluations.

HBHM technical due diligence

The company's PEA is based on a mine plan utilizing HBHM as the preferred method for recovery of high-grade lithium and boron mineralized material at Bonnie Claire. Although HBHM has been used for many years on many different projects, HBHM is a relatively new approach for extraction in this setting, so the company wishes to obtain independent validation of this mining method from experts in the field. This due diligence will provide feedback on the PEA's methodologies, assumptions and outcomes.

The company has retained a global engineering firm to conduct a technical due diligence review of the proposed HBHM mining method and to confirm its suitability for extraction of mineralized material at Bonnie Claire. To that end, the firm will complete a mine design review to determine whether the mine design appropriately accounts for the equipment and infrastructure required to extract the mineralized lens using HBHM.

The global engineering firm will also review the characterization of the mechanical behaviour of the rock, with a focus on expected geotechnical conditions within the mineralized lens. The focus of this review will be to evaluate the applicability of the HBHM method to the Bonnie Claire geology.

Lithium residency

The company's 2025 PEA identified several possibilities for lithium residency at Bonnie Claire including:

• Li substitution in the octahedral layer of fine-grained K-micas (for example, muscovite-illite series);
• Li hosted in expandable clay layers of mixed-layer illite-smectites;
• Possible Li uptake via ion exchange or structural substitution in analcime;
• Li may occur as Li-salts (for example, LiCl, Li2SO4).

The 2025 PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized.

In order to start investigating these possibilities, the company has signed a research agreement with the Department of Earth Sciences (DiSTAR) at the University of Naples Federico II, of Naples, Italy.

The proposed research project seeks to develop a greater understanding of the lithium distribution in clay minerals in the Bonnie Claire deposit. Initial analyses will include bulk-rock X-ray diffraction (XRD) to determine sample mineralogy, while scanning electron microscope -- energy-dispersive X-ray spectroscopy (SEM-EDS) will be implemented on thin sections and resin-embedded blocks to investigate ore textures, and to obtain in situ microchemical analyses of clays.

The selected clay-rich samples will be subjected to separation of the fine-grained fraction, and to dedicated XRD analysis and high-resolution bulk-rock geochemistry to establish the lithium clay mineralogy, and the lithium and other key elements (Rb and Cs) concentrations.

It is hoped that results from the lithium residency project will be completed in time for inclusion in a technical analysis that was selected for presentation by the Prospectors and Developers Association of Canada (PDAC). Dr. Jeff Wilson, PhD, FGC, PGeo, vice-president of exploration for Nevada Lithium, will present "The Bonnie Claire volcano sedimentary Li-B deposit" in the Exploration Insights session at the 2026 PDAC Convention hosted in Toronto, Ont.

About Nevada Lithium Resources Inc.

Nevada Lithium Resources is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire lithium project, located in Nye county, Nevada, where it holds a 100-per-cent interest.

The company recently filed a preliminary economic assessment (PEA) on the Bonnie Claire property. The PEA has an effective date of March 31, 2025, and presents a $6,829-million after-tax net present value at an 8-per-cent discount rate, based on $24,000/tonne Li2CO3, $950/tonne boric acid, together with a 32.3-per-cent after-tax internal rate of return. Results of the PEA were announced in the company's news release, dated Aug. 6, 2025.

QP (qualified person) disclosure

The technical information in this news release has been reviewed and approved by the company's designated qualified person, as such term is defined in National Instrument 43-101 -- Standards of Disclosure in Mineral Projects, Dr. Jeff Wilson, PhD, FGC, PGeo, vice-president of exploration for Nevada Lithium. Dr. Wilson is not independent of the company per Section 1.5 of NI 43-101.

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