TSXV: NEV
VANCOUVER, Sept. 22, 2016 /CNW/ - Nevada Sunrise Gold Corporation
("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce the signing of a definitive joint venture agreement dated
September 21, 2016 on the Gemini Lithium Project ("Gemini", or the "Project"), a 50-50 joint venture
with Eureka Resources Inc. ("Eureka"") (TSXV: EUK). Nevada Sunrise acquired Gemini in the Lida Valley, Esmeralda County, Nevada, by claim staking in November and December 2015 and
later optioned a 50% interest to Eureka in January 2016 (see Nevada Sunrise news release dated
January 21, 2016).
In August 2016, Nevada Sunrise granted Advantage Lithium Corp. (TSXV: AAL) (formerly North South
Petroleum Corp., now "Advantage") an option for Advantage to earn a 50% interest in Gemini as part of a transaction involving five
Nevada lithium exploration properties. Upon exercise of the option earn-in by Advantage, Nevada
Sunrise would relinquish its 50% interest in Gemini, and retain a 2% gross overriding royalty (for further information on the
Advantage transaction, see Nevada Sunrise news release dated June 20, 2016).
About Gemini
Nevada Sunrise owns a 50% participating interest in Gemini, located in the western Lida Valley, Esmeralda County, in south central Nevada, approximately 40 kilometres (26
miles) from North America's only producing lithium mine at Silver Peak. Gemini currently consists
of 247 placer claims totaling 4,940 acres (2,000 hectares). Gemini is situated in a flat, desert basin hosting two
interpreted sub-basins and with a similar geological setting to the Clayton Valley. Recent geophysical work at Gemini has outlined
conductive zones interpreted as brine horizons, which the Company plans to test by drilling.
The exploration program for Gemini is estimated to cost approximately US$400,000. Nevada Sunrise
is pleased that all of the pre-requisites to commence a drilling program at Gemini have been completed, including receipt of the
drilling permit from the Bureau of Land Management, the placement of a reclamation bond, and surficial cultural studies.
For further information on Gemini including a map showing its location, see the Company's website under "Projects-Nevada
Lithium" at: http://www.nevadasunrise.ca/projects/nevadalithium/
John R. Kerr, P. Eng., is the Company's designated Qualified Person for this news release within
the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news
release.
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 nine mineral exploration
projects in the State of Nevada, USA. Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which include options to earn 100%
interests in the Neptune and Clayton Northeast 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 projects, and has a 50%
participating interest in the Gemini project, each located in playas proximal to the Clayton Valley. The Company has optioned five
of Nevada lithium projects to Advantage Lithium Corp., and a sixth, the Atlantis project, is
currently under option to American Lithium Corp. (TSXV: LI).
The Company's three key gold assets include a 21% interest in a joint venture with Pilot Gold Inc. (TSX: PLG) at Kinsley
Mountain near Wendover, a 100% interest in the Golden Arrow project near Tonopah, and the right to earn a 100% interest in the Roulette gold property at the southeastern extremity of
the Carlin trend near Ely, with each of the properties subject to
certain production royalties.
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, potential size of a mineralized zone, potential expansion of mineralization, the timing and
results of future resource estimates, or other study, proposed exploration and development of its 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 interpretation and actual results of historical exploration at the
Gemini property, reliance on technical information provided by third parties on any of our exploration properties, including access
to historical information on the Gemini property, 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 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 Ended June 30, 2016, 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.
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 statements 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
as required by 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 responsibility for the adequacy of accuracy of this release. The Securities of Nevada Sunrise Gold Corporation
have not been registered under the United States Securities Act of 1933, as amended, and 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
Image with caption: "Nevada Sunrise Gold Corporation (CNW Group/Nevada Sunrise Gold Corporation)". Image available at: http://photos.newswire.ca/images/download/20160922_C8423_PHOTO_EN_779345.jpg
