Nevada Sunrise Completes Sale of Joint Venture Interest in the Kinsley Mountain Gold Project, Nevada
Nevada Sunrise Completes Sale of Joint
Venture Interest in the Kinsley Mountain Gold
Project, Nevada
VANCOUVER, BC
,
Aug. 12, 2024
/CNW/ - Nevada Sunrise Metals Corp. (TSXV: NEV) (OTCBB:
NVSGF)
("Nevada Sunrise" or the "Company")
has closed its transaction with CopAur Minerals
Inc. ("
CopAur
") previously announced
July 8, 2024
. CopAur has acquired Nevada Sunrise's 18.74%
ownership interest in the Kinsley Mountain Gold Project joint venture in
Nevada
("
Kinsley
Mountain
").
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
August 8, 2024
, in consideration of the payment of
CAD$475,000
in cash and the issuance to
Nevada Sunrise of 1,000,000 common shares of CopAur (the "
Consideration Shares
"). The
Consideration Shares are subject to a four-month statutory hold period (the "
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
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in
Vancouver, BC
,
Canada
, that holds interests in lithium and copper exploration projects located in the
State of Nevada, USA
.
Nevada Sunrise owns 100% interests in the
Gemini,
Jackson Wash
and
Badlands
lithium projects,
all of which are located in the Lida Valley in
Esmeralda County, NV
, and in the
Pelican
lithium project
in
Saskatchewan, Canada
.
Gemini is located near Gold Point,
Nevada
, 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 LCE (lithium
carbonate equivalent)
contained within 1,200 million tonnes of lithium-mineralized clay at an
average grade of approximately 1,130 parts per million Lithium (
click here
to review "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 acre/feet/year.
Nevada Sunrise has the right to earn a 100% interest in the
Coronado Copper Project
, located
approximately 48 kilometers (30 miles) southeast of
Winnemucca, NV.
FORWARD LOOKING STATEMENTS
This release may contain forward–looking statements. Forward looking statements are statements
that are not historical facts and are generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and
include disclosure of anticipated exploration activities. Although the Company believes the
expectations expressed in such forward–looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in forward looking statements. Forward–looking statements are based
on the beliefs, estimates and opinions of the Company's management on the date such statements
were made. The Company expressly disclaims any intention or obligation to update or revise any
forward–looking statements whether as a result of new information, future events or otherwise.
Such factors include, among others, risks related to: reliance on technical information provided by
third parties on any of our exploration properties; changes in project parameters as plans continue
to be refined; current economic conditions; future prices of commodities; possible variations in
grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labor disputes and other risks of the mining industry; delays due to
pandemic; delays in obtaining governmental approvals, financing or in the completion of
exploration, as well as those factors discussed in the section entitled "Risk Factors" in the
Company's Management Discussion and Analysis for the Six Months Ending
March 31, 2024
,
which is available under Company's SEDAR profile at
www.sedar.com
.
Although Nevada Sunrise has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward-looking information,
there may be other factors that cause actions, events or results not to be as anticipated, estimated
or intended. There can be no assurance that such information will prove to be accurate as actual
results and future events could differ materially from those anticipated in such statements. Nevada
Sunrise disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise. Accordingly, readers should not
place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE
Nevada Sunrise Metals Corporation
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For further information:
For Further Information Contact: Warren Stanyer, President and Chief
Executive Officer, email: [email protected], Telephone: (604) 428-8028 or Jason
Powell, Corporate Communications, email: [email protected], Telephone: (604) 779-
6497, Website: www.nevadasunrise.ca
CO: Nevada Sunrise Metals Corporation
CNW 21:58e 12-AUG-24