Nevada Sunrise Monetizes Clayton Northeast Lithium Project Via Sale to Pure Energy Minerals
Nevada Sunrise Monetizes Clayton Northeast Lithium Project Via Sale to Pure
Energy Minerals
TSXV: NEV
VANCOUVER, Nov. 8, 2017 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) announced today that the Com pany and its exploration partner Advantage
Lithium Corp. ("Advantage Lithium") (together, the "Vendors") have signed an asset purchase agreement
(the "Agreement") to effect the sale of the Clayton Northeast project ("Clayton NE") to Pure Energy
Minerals Limited of Vancouver, B.C., Canada (TSXV: PE) ("Pure Energy"). Clayton NE is located
adjacent to the Silver Peak lithium brine mine in Esmeralda County, Nevada, the only producing lithium
mine in North America.
The purchase price for Clayton NE is 7.0 million common shares of Pure Energy (the "PE Shares"). The
PE Shares will be issued to the Vendors by Pure Energy on closing of the transaction (the "Closing"),
which is expected to occur on or before November 30 , 2017. Prior to Closing, Advantage Lithium intends
to fully exercise its option to earn a 70% participating interest in Clayton NE. At Closing, Nevada Sunrise
will receive 2,100,000 PE shares, representing its 30% interest in Clayton NE, and Advantage Lithium w ill
receive 4,900,000 PE shares.
"The sale of Clayton NE to Pure Energy represents the culmination of a successful exploration program in
Nevada's most prolific lithium district," said Warr en Stanyer, President and CEO of Nevada Sunrise. "The
Clayton NE claims are a complement to Pure Energy's current lithium brine project and we are pleased to
participate as their shareholder during future development in the area."
The Vendors have agreed to voluntary restrictions on the trading of the PE Shares for a period of 27
months, with partial quarterly releases commencing after 18 months. In addition, the Vendors have
agreed that for a period of 24 months following Closing, they will vote their respective PE Shares at
meetings of shareholders of Pure Energy in favour of all matters proposed by Pure Energy's
management.
Closing is subject to normal conditions precedent for a transaction of this nature including receipt b y Pure
Energy of acceptance of the transaction by the TSX Venture Exchange.
About Clayton NE
Clayton NE (including the Triton claims acquired in May 2017) consists of 74 unpatented claims totalin g
approximately 1,460 acres (590 hectares) located in the Clayton Valley basin of Esmeralda County,
Nevada, and is contiguous to the eastern boundary of Albemarle's Silver Peak property, North America's
only lithium producer. Several of Albemarle's lithium brine production wells are situated adjacent to the
Clayton NE western claim boundary. A successful 6-h ole drilling program carried out by Nevada Sunrise
and Advantage Lithium during late 2016 and early 20 17 encountered significant lithium-bearing brines i n
classic Clayton Valley strata (see Nevada Sunrise news release dated April 3, 2017).
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration comp any with a strong technical team based in
Vancouver, BC, Canada, that holds interests in nine gold and lithium mineral exploration projects in the
State of Nevada, USA.
Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which includes
options to earn 100% interests in the Neptune project (Resolve Ventures, TSXV: RSV owns a 25%
interest in Neptune), the Clayton Northeast and Triton projects, and a 100% interest in the Aquarius
project, all located in the Clayton Valley area. The Company also holds options to earn 100% interests in
the Jackson Wash and Atlantis lithium projects, and holds a 50% interest in the Gemini lithium project ,
each located in playas proximal to the Clayton Valley. In 2016 and 2017, Nevada Sunrise optioned six of
its Nevada lithium projects to Advantage Lithium, who owns a 70% participating interest solely in the
Clayton Northeast and Triton projects. The Company's Atlantis project is currently under option to
American Lithium Corp. (TSXV: LI).
The Company's two key gold assets include a 100% in terest in the Golden Arrow project near Tonopah,
currently the subject of an option earn-in transaction with Emgold Mining Corporation (TSXV: EMR) and a
21% interest in a joint venture with Liberty Gold Inc. (TSX: LGD, formerly Pilot Gold Inc.) at Kinsley
Mountain near Wendover, with each of the properties subject to certain production royalties.
For further information on other Nevada lithium pro jects operated by the Company (Aquarius, Neptune,
Jackson Wash and Gemini), including location maps, please visit the Nevada Sunrise website at:
"Projects – Nevada Lithium": http://www.nevadasunrise.ca/projects/nevadalithium/
National Instrument 43-101 compliant technical reports for the Neptune and Jackson Wash projects can
be accessed on the Nevada Sunrise website at "Inves tors – Downloads":
http://www.nevadasunrise.ca/wp-content/uploads/2015 /09/Neptune-NI_43-101.pdf
http://www.nevadasunrise.ca/wp-content/uploads/2017 /04/Jackson-Wash-Lithium-Project-Technical-
Report_July-2016.pdf
FORWARD LOOKING STATEMENTS
All statements in this release, other than statements of historical fact, are "forward-looking information"
with respect to Nevada Sunrise Gold Corporation ("Nevada Sunrise") within the meaning of applicable
Canadian securities laws, including statements that address future mineral production, reserve potential,
exploration drilling, the future price of lithium, potential quantity and/or grade of minerals, potent ial size of
a mineralized zone, potential expansion of minerali zation, the timing and results of future resource
estimates, or other study, proposed exploration and development of our exploration properties and the
estimation of mineral resources. Forward-looking information is often, but not always, identified by the use
of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict",
"potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or
variation of such words and phrases or state that certain actions, events or results "may", "should",
"could", "would", "might" or "will" be taken, occur or be achieved. These statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievement of Nevada Sunrise to differ materially from those anticipated in such forward-looking
information.
Such factors include, among others, risks related to the proposed transaction with Pure Energy, and to
the interpretation and actual results of any historical exploration at the Clayton NE, Triton, Neptune,
Jackson Wash, Aquarius and Gemini properties,, reli ance on technical information provided by third
parties on any of our exploration properties, including access to historical information on the Clayton NE,
Triton, Neptune, Jackson Wash, Aquarius and Gemini properties, current exploration and development
activities; 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 in obtaining governmental approvals, financing or in the completi on of
exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's
Management Discussion and Analysis for the Nine Mon ths ended June 30, 2017, which is available
under Company's SEDAR profile at www.sedar.com .
Although Nevada Sunrise has attempted to identify i mportant 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 event s
could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intent ion
or obligation to update or revise any forward-looking information, whether as a result of new informat ion,
future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking
information.
Forward-looking statements are made as of the date hereof and accordingly are subject to change after
such date. Except as otherwise indicated by Nevada Sunrise, these statements do not reflect the
potential impact of any non-recurring or other special items or of any dispositions, monetizations,
mergers, acquisitions, other business combinations or other transactions that may be announced or that
may occur after the date hereof. Forward-looking st atements are provided for the purpose of providing
information about management's current expectations and plans and allowing investors and others to get
a better understanding of our operating environment. Nevada Sunrise does not undertake to update any
forward-looking statements that are included in this document, except in accordance with applicable
securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of TSX Venture Exchange) accepts responsib ility for the adequacy of accuracy of this
release. The Securities of Nevada Sunrise Gold Corp oration have not been registered under the
United States Securities Act of 1933, as amended, a nd may not be offered or sold within the
United States or to the account or benefit of any U.S. person.
SOURCE Nevada Sunrise Gold Corporation
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%SEDAR: 00026824E
For further information: Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 484-7143, Email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 08:00e 08-NOV-17