Nevada Sunrise Signs Agreement to Sell the Gemini Lithium Project
Nevada Sunrise Metals (OTC:NVSGF) has entered into a purchase agreement with Dome Rock Resources for the sale of 223 unpatented lode claims at its Gemini Lithium Project in Nevada for US$800,000 (approximately CAD$1.1 million). The transaction includes a non-refundable US$100,000 deposit and a final payment of US$700,000 within 120 days.
Nevada Sunrise will retain 26 unpatented lode claims west of the sold claims and a 2.0% Net Smelter Returns royalty, half of which can be purchased by Dome Rock for US$1.0 million. The agreement is pending TSX Venture Exchange approval.
Nevada Sunrise Metals (OTC:NVSGF) ha stipulato un accordo di vendita con Dome Rock Resources per la cessione di 223 concessioni minerarie non brevettate (lode claims) del suo Gemini Lithium Project in Nevada per US$800.000 (circa CAD$1,1 milioni). L’operazione prevede un acconto non rimborsabile di US$100.000 e un pagamento finale di US$700.000 entro 120 giorni.
Nevada Sunrise manterrà 26 concessioni non brevettate a ovest delle aree vendute e un royalty del 2,0% sul Net Smelter Return, metà della quale può essere acquistata da Dome Rock per US$1,0 milione. L’accordo è soggetto all’approvazione della TSX Venture Exchange.
Nevada Sunrise Metals (OTC:NVSGF) ha celebrado un acuerdo de compra con Dome Rock Resources para la venta de 223 concesiones no patentadas (lode claims) de su proyecto Gemini Lithium en Nevada por US$800,000 (aprox. CAD$1,1 millones). La transacción incluye un depósito no reembolsable de US$100,000 y un pago final de US$700,000 dentro de los 120 días.
Nevada Sunrise conservará 26 concesiones no patentadas al oeste de las vendidas y un regalía del 2,0% sobre el Net Smelter Return, la mitad de la cual puede ser comprada por Dome Rock por US$1,0 millón. El acuerdo está pendiente de la aprobación de la TSX Venture Exchange.
Nevada Sunrise Metals (OTC:NVSGF)는 Dome Rock Resources와 네바다 Gemini Lithium Project에 있는 223개의 미특허 광맥권(lode claims) 매각에 관한 매매계약을 체결했으며 대금은 미화 80만 달러(약 CAD$110만)입니다. 거래에는 환불 불가 보증금 미화 10만 달러와 120일 이내에 지급되는 잔금 미화 70만 달러가 포함됩니다.
Nevada Sunrise는 매각 대상 서쪽에 위치한 26개의 미특허 광맥권을 보유하고, 순야금매출(Net Smelter Returns) 2.0% 로열티를 유지합니다. 이 로열티의 절반은 Dome Rock이 미화 100만 달러에 구매할 수 있습니다. 본 계약은 TSX Venture Exchange의 승인을 기다리고 있습니다.
Nevada Sunrise Metals (OTC:NVSGF) a conclu un accord d’achat avec Dome Rock Resources pour la cession de 223 claims non brevetés (lode claims) sur son projet Gemini Lithium au Nevada pour US$800 000 (environ CAD$1,1 million). La transaction comprend un dépôt non remboursable de US$100 000 et un paiement final de US$700 000 dans les 120 jours.
Nevada Sunrise conservera 26 claims non brevetés à l’ouest des claims vendus et une redevance de 2,0 % sur le Net Smelter Return, dont la moitié peut être rachetée par Dome Rock pour US$1,0 million. L’accord est soumis à l’approbation de la TSX Venture Exchange.
Nevada Sunrise Metals (OTC:NVSGF) hat einen Kaufvertrag mit Dome Rock Resources über den Verkauf von 223 nicht patentierten Lode-Claims ihres Gemini Lithium Projects in Nevada abgeschlossen für US$800.000 (ca. CAD$1,1 Mio.). Die Transaktion umfasst eine nicht erstattungsfähige Anzahlung von US$100.000 und eine Schlusszahlung von US$700.000 innerhalb von 120 Tagen.
Nevada Sunrise behält 26 nicht patentierte Lode-Claims westlich der verkauften Claims sowie eine 2,0% Net Smelter Returns-Royalty, von der die Hälfte von Dome Rock für US$1,0 Mio. gekauft werden kann. Die Vereinbarung steht unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange.
- Sale will generate US$800,000 (CAD$1.1 million) in cash proceeds
- Company retains 2.0% Net Smelter Returns royalty on the project
- Non-refundable US$100,000 deposit already secured
- Company maintains exposure to project through retained claims and royalty
- Divestment of majority of claims (223 out of 249) reduces direct project ownership
- Final payment of US$700,000 subject to 120-day completion risk
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Nevada Sunrise Metals Corporation (TSXV: NEV) (OTC Pink: NVSGF) ("Nevada Sunrise" or the "Company") announced today that the Company has executed a purchase and sale option agreement (the "Agreement") with Dome Rock Resources, LLC ("Dome Rock", or the "Purchaser")), a private South Dakota company, whereby Dome Rock has agreed to purchase 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", or the "Project"). Gemini is located in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada. Following the closing of the Transaction, Nevada Sunrise will retain twenty-six (26) unpatented lode claims located immediately to the west of the Claims (see Figure 1).
Details of the Gemini Option Agreement
The purchase price for a
- An initial non-refundable US
$100,000 deposit was paid within five business days of the execution of the Agreement (the "Effective Date); - A second and final payment (the "Final Payment") of US
$700,000 t o be paid within 120 days of the Effective Date. The timing of the Final Payment can be accelerated by the Purchaser; - Nevada Sunrise will retain a
2.0% Net Smelter Returns royalty for metals and minerals produced from the Project, of which one-half (1.0% ) can be purchased by Dome Rock for US$1.0 million .
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/2799/263020_1b8267a444f7fa56_001full.jpg
Nevada Sunrise and Dome Rock have agreed to industry-standard default provisions should Dome Rock not meet the payment obligations listed above. The Agreement is subject to the acceptance of 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
Nevada Sunrise owns
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 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, 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/263020
FAQ
How much is Nevada Sunrise selling the Gemini Lithium Project claims for?
What royalty will Nevada Sunrise retain on the Gemini Lithium Project?
How many claims will Nevada Sunrise retain after the Gemini Lithium Project sale?
When is the final payment due for the NVSGF Gemini Lithium Project sale?
Who is purchasing Nevada Sunrise's Gemini Lithium Project claims?
