NEV.V · 2023-02-28 12:00:00

Nevada Sunrise Intersects 1,321 ppm Lithium in Sediments over 990 feet and 116.43 mg/L Lithium in Groundwater over 140 feet at the Gemini Lithium Project, Nevada

Drill Results

Nevada Sunrise Intersects 1,321 ppm Lithium

in Sediments over 990 feet and 116.43 mg/L

Lithium in Groundwater over 140 feet at the

Gemini Lithium Project, Nevada

VANCOUVER, BC

Feb. 28, 2023

/CNW/ -

Nevada Sunrise Metals Corp.

("Nevada Sunrise", or

the "Company") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that the Company has

received initial geochemical analyses for lithium mineralization in sediment and groundwater samples

collected from the first 1,500 feet (457.32 metres) of borehole GEM23-04, drilled at its 100%-

owned Gemini Lithium Project ("Gemini") located in the Lida Valley basin in

Esmeralda County,

Nevada

. Drilling of borehole GEM23-04 began on

January 10, 2023

and was completed to a depth

of 1,950 feet (594.51 metres) on

February 22, 2023

, which represents the deepest hole drilled to

date at Gemini. The remaining samples collected in the final 450 feet (137.20 metres) of hole

GEM23-04 are still in analytical process.

Highlights of GEM23-04

Borehole

GEM23-04

intersected

1,321.76 parts per million ("ppm") lithium-in-sediment over

990 feet

(301.83 metres) from 510 feet (155.49 metres) to 1,500 feet (457.32 metres),

including

3,556.82 ppm lithium over 110 feet

(33.54 metres) and

4,329.60 ppm lithium over

30 feet

(9.15 metres) (see Table 1 below);

Water sample analyses showed anomalous concentrations of lithium in groundwater flows,

notably an average of

116.43 milligrams/litre ("mg/L") lithium over 140 feet

(42.69 metres),

including intervals of

180 mg/L

lithium

from 1,200 to 1,220 feet (365.85 to 371.95 metres),

230

mg/L lithium

from 1,260 to 1,280 feet (384.15 to 390.24 metres), and

200 mg/L lithium

from

1,320 to 1,340 feet (402.44 to 408.54 metres). A second discrete interval higher up in the

borehole returned

200 mg/L lithium over 20 feet

(6.1 metres) from 1,100 to 1,120 feet

(335.37 to 341.46 metres) (see Table 2 below);

GEM23-04

was completed at a location approximately 0.70 miles (1.13 kilometres) southwest

of GEM22-01 and 0.65 miles (1.04 kilometres) northwest of GEM22-02, thereby successfully

extending the lithium mineralized zone at Gemini to the west.

Table 1. Initial Results of Lithium-in-Sediment Samples for Borehole GEM23-04

Gemini Lithium Project - Borehole GEM23-04

Depth Interval

Thickness

Lithium

(Weighted

average:

ppm)

From

(feet)

From

(metres)

Feet

Metres

510

1,500

155.49

457.32

990

301.83

1,321.76

including:

1,270

1,380

387.20

420.73

110

33.54

3,556.82

and:

1,350

1,380

411.59

420.73

9.15

4,329.60

Note:

Sediment samples are a composite of material collected from the rotary splitter in the RC

drilling rig, which produces a continuous, representative 3 to 5 kilogram sample for each sample

interval.

All depth measurements reported, including sample and interval widths are down-hole.

As holes

at Gemini

are oriented vertical and geologic stratigraphy is primarily horizontal to sub-

horizontal, downhole measurements are assumed to be close to true thickness.

Table 2: Initial Results of Lithium-in-Water Samples for Borehole GEM23-04

Borehole GEM23-04 Water Sample Results

Interval

Thickness

Lithium

(mg/L)

From

(ft.)

From

(m)

Feet

Metres

1,100

1,120

335.37

341.46

6.1

200

1,200

1,340

365.85

408.54

140

408.54

116.43 (avg.)

including

1,200

1,220

365.85

371.95

6.1

180

and

1,260

1,280

384.15

390.24

6.1

230

and

1,320

1,340

402.44

408.54

6.1

200

The Phase 2 drilling program at Gemini continues with borehole GEM23-05, currently underway,

collared approximately 1.02 miles (1.64 kilometres) southeast of borehole GEM23-04, and 0.54

miles (0.87 kilometres) south of borehole GEM22-02.

Gemini Lithium Project Hole Borehole Locations, February-March 2023 (CNW Group/Nevada

Sunrise Gold Corporation)

To date, the Company has intersected significant intervals of lithium mineralization both in sediments

and groundwater in all four holes completed since the inception of drilling. Nevada Sunrise believes

that the southern and western parts of the Gemini basin could host higher concentrations of lithium

and further drilling could eventually define a large lithium resource. The Company is enacting its

exploration plan to drill deeper holes at Gemini with the goal of: (1) intersecting wide intervals of

lithium-bearing sediments and (2) locating higher concentrations of lithium-in-water coincident with

significant groundwater flow rates.

About the 2022-2023 Gemini Drilling Program

Nevada Sunrise drilled two reverse circulation ("RC") boreholes for a total of 2,020 feet (615.85

metres) in its maiden drilling program at Gemini in March and

April 2022

. The drill sites were located

within a defined gravity low that hosts conductive layers detected by historical ground

electromagnetic surveys. The results from the first two holes at Gemini represented a new discovery

of lithium-bearing sediments and lithium-in-water in the western Lida Valley, which was not

historically drill tested for lithium mineralization (see Nevada Sunrise news releases dated

May 18, 2022

and

June 6, 2022

). Borehole GEM22-03, drilled to 1,620 feet (493.9 metres)

intersected the same sequence of volcanic ash sediments as was found in GEM22-01 and GEM22-

02, and similar geologic formations are observed in borehole GEM23-04, and GEM23-05, still in

progress.

July 2022

, Nevada Sunrise received a permit for an expanded drilling area from the Bureau of

Land Management (the "BLM") and began Phase 2 drilling at Gemini in October 2022. Up to six

boreholes are planned in Phase 2 for an estimated total of 8,000 feet (2,439 metres) of drilling.

For further information on Gemini, including drill hole location maps and photos

click here

About Gemini

Gemini consists of 582 unpatented placer and lode claims located in the western Lida Valley,

Esmeralda County

, approximately 6 miles (10 kilometres) east of the town of Lida,

Nevada

. The

Lida Valley is a flat, arid basin with a similar geological setting to the better-known

Clayton Valley

basin where Albemarle Corporation operates the Silver Peak lithium brine mine, which has operated

continuously since 1966.

Gemini is situated adjacent to the Gold Point Solar Energy Zone, a BLM land reserve set aside for

solar and wind power generation projects until 2033. Exploration at Gemini is complemented by the

Company's 80.09 acre/feet/year water right, a pre-requisite for the exploration and development of

lithium brine projects in

Nevada

Sampling and Analytical QA/QC and Statement of Qualified Person

Sediment Sample Collection and Analysis

Sediment samples described in this new release are a composite of material collected from the

rotary splitter in the RC drilling rig, which produces a continuous, representative 3 to 5 kilogram

sample for each sample interval. Samples were submitted to American Assay and ALS Global

USA

Reno, NV

and were analyzed utilizing a multi-element ICP-AES method. Specifically, the analytical

method involves aqua regia digestion of the sample followed by the inductively coupled plasma (ICP)

technique to ionize the sample, and atomic emission spectrometry (AES) to determine elemental

concentrations. Duplicates, field blanks, and certified reference standards were inserted at regular

intervals in the sample stream to ensure accuracy of the analytical method.

Water Sample Collection and Analysis

Water parameters including TDS, conductivity, temperature, and pH values were obtained in the field

by direct measurement with a handheld YSI556 Multi-parameter water meter, which meets Good

Laboratory Practice (as proscribed by the Organization for Economic Cooperation and

Development) for calibration and measurement.

Groundwater samples were collected at 20-foot (6.1-metre) intervals and sent to Western

Environmental Testing Laboratory in

Reno

, Nevada under project chain-of-custody protocols for

analysis. Industry standard methods for examination of water were employed by the laboratory.

General chemistry testing included analysis for specific gravity, total hardness, total alkalinity,

bicarbonate, carbonate, hydroxide, total dissolved solids (TDS) and electrical conductivity. Anions

(chloride, sulfate) were analyzed by ion chromatography. Trace metals (lithium, magnesium, boron,

calcium, potassium, strontium, and sodium) were analyzed by inductively coupled plasma-optical

emission spectroscopy (ICP-OES) methods.

The scientific and technical information contained in this news release has been reviewed and

approved by

Robert M. Allender, Jr.

, CPG, RG, SME and a Qualified Person for Nevada Sunrise as

defined in National Instrument 43-101 –

Standards of Disclosure

for Mineral Projects

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 gold, copper, cobalt and lithium exploration projects

located in the

State of Nevada, USA

Nevada Sunrise owns 100% interests in the Gemini and

Jackson Wash

lithium projects, both of

which are located in the Lida Valley in

Esmeralda County, NV.

The Company owns Nevada water

right Permit 86863, also located in the Lida Valley basin, near Lida, NV.

The Company's key gold asset is a 20.01% interest in a joint venture at the Kinsley Mountain Gold

Project near

Wendover, NV

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 g/t Au (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

Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin, Ph.D., and

Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (

www.sedar.com

Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project, located

approximately 48 kilometers (30 miles) southeast of

Winnemucca, NV.

The Company owns a 15%

interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located

approximately 150 kilometers (100 miles) east of

Reno, NV

, with Global Energy Metals Corp.

holding an 85% participating interest.

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 the results and outcomes of the Company's

2022-2023 exploration plans at the Gemini Lithium Project; 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 Three Months ending

December

, 2022, 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 Gold Corporation

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/February2023/28/c7515.html

%SEDAR: 00026824E

For further information:

Warren Stanyer, President and Chief Executive Officer, email:

[email protected], Telephone: (604) 428-8028; Jason Powell, Corporate

Communications, email: [email protected], Telephone: (604) 779-6497

CO: Nevada Sunrise Gold Corporation

CNW 07:30e 28-FEB-23

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