NEV.V · 2023-05-24 12:00:00

Nevada Sunrise Receives Final Lithium-in- Sediment Results for Phase 2 Drilling Program at the Gemini Lithium Project, Nevada

Exploration Programs

Nevada Sunrise Receives Final Lithium-in-

Sediment Results for Phase 2 Drilling Program

at the Gemini Lithium Project, Nevada

VANCOUVER, BC

May 24, 2023

/CNW/ -

Nevada Sunrise Metals Corp.

("Nevada Sunrise", or the

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

final geochemical analyses for lithium mineralization in sediment samples collected from borehole

GEM23-05, drilled at its 100%-owned Gemini Lithium Project ("Gemini") located in the Lida Valley

basin in

Esmeralda County, Nevada

. Borehole GEM23-05, the third hole of the Phase 2 program,

was completed to depth of 1,740 feet (530.49 metres) for a cumulative total footage drilled at

Gemini beginning in

March 2022

of 7,330 feet (2,234.76 metres) in five reverse circulation ("RC")

boreholes.

Highlights of GEM23-05

Borehole

GEM23-05

intersected

635.21 parts per million ("ppm") lithium-in-sediment over

1,135 feet

(346.04 metres) from 440 feet (134.15 metres) to 1,575 feet (480.18 metres),

including

1,096.16 ppm lithium over 360 feet

(109.76 metres) and

1,308.42 ppm lithium over

180 feet

(54.88 metres) (see Table 1 below).

Interpreted basement contact was made at 1,575 feet (480.18 metres) in a rhyolite flow

sequence, which provides further definition of the depth of the southern edge of the Gemini

sedimentary basin (see Figure 1 and Figure 2).

Table 1. Gemini Lithium Project, Phase 1 & Phase 2 Drilling Results: Lithium-in-Sediments

Depth Interval

Thickness

Lithium

Weighted

Average (ppm)

Hole

Number

From

(feet)

From

(metres)

Feet

Metres

GEM22-01

320

900

97.56

274.39

580

176.83

1,203.41

including:

480

780

146.34

237.80

300

91.46

1,578.19

GEM22-02

390

1,120

118.90

341.46

730

222.56

1,101.73

including:

990

1,120

301.83

341.46

130

39.63

2,217.69

and:

1,070

1,120

326.22

341.46

15.24

3,304.34

GEM22-03

280

1,410

85.37

429.88

1,130

344.51

929.80

including:

280

630

85.37

192.07

350

106.71

1,342.20

and:

470

500

143.29

152.44

9.15

1,955.73

GEM23-04

510

1,950

155.49

594.51

1,440

439.02

1,412.38

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

GEM23-05

440

1,575

134.15

480.18

1,135

346.04

635.21

including:

850

1,210

259.15

368.90

360

109.76

1,096.16

and:

950

1,130

289.63

344.51

180

54.88

1,308.42

Note:

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

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.

Nevada Sunrise believes that the southern and western parts of the Gemini basin are highly

prospective for additional lithium mineralization and that further drilling could eventually define a large

lithium resource. The Company is in discussions with a

Vancouver, BC

-based engineering firm to

commission a National Instrument 43-101-compliant resource estimate and a Preliminary Economic

Assessment of the lithium-bearing zones at Gemini (Figure 1).

Figure 1.

3-D View of Gemini Lithium Mineralization in Phase 1 & Phase 2 boreholes (CNW

Group/Nevada Sunrise Metals Corporation)

Groundwater analyses for the remaining Phase 2 drilling program water samples are still in progress

and will be released when received, compiled and interpreted.

About the 2022-2023 Gemini Drilling Program

In March and

April 2022

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

metres) in its maiden drilling program at Gemini. 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 mineralization in the

western Lida Valley, which was not historically drill tested for lithium (see Nevada Sunrise news

release dated

May 18, 2022

). Three additional boreholes were completed from

October 2022

April 2023

, with each intersecting lithium mineralization.

Figure 2.

Gemini Lithium Project Borehole Locations, March 2022 to April 2023 (CNW

Group/Nevada Sunrise Metals Corporation)

July 2022

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

Land Management (the "BLM") good until

July 2024

and began Phase 2 drilling at Gemini in October

2022.

For further information on Gemini, including 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. All depth measurements

reported, including sample and interval widths are downhole. 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.

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 lithium, gold, 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,

with no applicable royalties, all 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.

("GEMC") holding an 85% participating interest and a transaction pending for GEMC to own a 100%

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

31, 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 Metals Corporation

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/May2023/24/c3754.html

%SEDAR: 00026824E

For further information:

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 07:30e 24-MAY-23

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