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