Nevada Sunrise Closes Sale of Gemini Lithium Project Claims

Rhea-AI Summary

Nevada Sunrise Metals (OTC:NVSGF) has completed the sale of 223 unpatented lode claims from its Gemini Lithium Project to Dome Rock Resources for US$800,000 (CAD$1.1 million) in cash. The transaction, first announced on August 19, 2025, has been fully paid with an initial US$100,000 deposit followed by a final payment of US$700,000 on September 15, 2025.

The company will retain 26 unpatented lode claims west of the sold claims and a 2.0% Net Smelter Returns (NSR) royalty, half of which can be purchased by Dome Rock for US$1.0 million. The Gemini Lithium Project is located in the Lida Valley near Gold Point, Esmeralda County, Nevada.

[ "Received US$800,000 (CAD$1.1 million) in cash proceeds from sale", "Retained 2.0% NSR royalty on the sold claims", "Maintained ownership of 26 unpatented lode claims in the area" ]

Positive

• None.

Negative

• Divested majority of Gemini Lithium Project claims (223 out of 249 total claims)

Vancouver, British Columbia--(Newsfile Corp. - September 15, 2025) - Nevada Sunrise Metals Corporation (TSXV: NEV) (OTC Pink: NVSGF) ("Nevada Sunrise" or the "Company") is pleased to announce that the Company has closed a transaction (the "Transaction") first reported on August 19, 2025 with Dome Rock Resources, LLC ("Dome Rock", or the "Purchaser"), a private South Dakota company at arm's length to Nevada Sunrise, whereby Dome Rock purchased two hundred and twenty-three (223) unpatented lode claims (the "Claims") from the Company, which represent the core claims of the Gemini Lithium Project ("Gemini"). Gemini is located in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada. Nevada Sunrise has retained twenty-six (26) unpatented lode claims located immediately to the west of the Claims (see Figure 1).

Figure 1. Gemini Lithium Project Area - Dome Rock Claims Acquisition

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2799/266546_012a0e49348b5ae7_001full.jpg

Details of the Gemini Option Agreement

The purchase price for a 100% acquisition of the Claims by Dome Rock was US$800,000 (approximately CAD$1.1 million) in cash, which has been paid in full to the Company as follows:

• An initial non-refundable US$100,000 deposit was received by the Company following the execution of the option-to-purchase agreement;
• A second and final payment of US$700,000 was received by the Company on September 15, 2025.
• Nevada Sunrise will retain a 2.0% Net Smelter Returns royalty for metals and minerals produced from the Project (the "NSR"), of which one-half (1.0%) of the NSR can be acquired by the Purchaser for US$1.0 million.

The Transaction is subject to final acceptance from the TSX Venture Exchange.

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 and lithium exploration projects located in the State of Nevada, USA.

Nevada Sunrise holds the rights to earn 100% interests in the Griffon Gold Mine Project located approximately 50 kilometers (31 miles) southwest of Ely, NV, and in the Coronado Copper Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.

Nevada Sunrise owns 100% interests in the Jackson Wash and Badlands lithium projects, each of which are located in the Lida Valley in Esmeralda County, NV. The Company owns a 100% interest in Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Lida, NV.

For Further Information Contact:
Warren Stanyer, President and Chief Executive Officer
email: warrenstanyer@nevadasunrise.ca Telephone: (604) 428-8028
Website: www.nevadasunrise.ca

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 closing of the purchase and sale transaction with Dome Rock; reliance on technical information provided by third parties on any of our exploration properties; changes in the Company's 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 Nine Months Ending June 30, 2025, which is available under Company's SEDAR profile at: www.sedarplus.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266546

FAQ

How much did Nevada Sunrise (NVSGF) receive for the Gemini Lithium Project claims sale?

Nevada Sunrise received US$800,000 (approximately CAD$1.1 million) in cash, paid in two installments: an initial US$100,000 deposit and a final payment of US$700,000 on September 15, 2025.

What royalty agreement did Nevada Sunrise retain on the Gemini Lithium Project?

Nevada Sunrise retained a 2.0% Net Smelter Returns (NSR) royalty, with Dome Rock having the option to purchase half (1.0%) of the NSR for US$1.0 million.

How many claims did Nevada Sunrise retain after the Gemini Lithium Project sale?

Nevada Sunrise retained 26 unpatented lode claims located immediately to the west of the sold claims.

Who purchased the Gemini Lithium Project claims from Nevada Sunrise?

Dome Rock Resources, LLC, a private South Dakota company operating at arm's length to Nevada Sunrise, purchased the claims.

Where is the Gemini Lithium Project located?

The Gemini Lithium Project is located in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada.