TSXV: NEV
VANCOUVER, June 7, 2017 /CNW/ - Nevada Sunrise Gold Corporation
("Nevada Sunrise" or the "Company") (TSXV: NEV) and Advantage Lithium Corp. ("Advantage") (TSXV: AAL) are pleased to announce the
acquisition of a 100% interest in the Triton lithium property ("Triton", or the "Property"), located in the northern Clayton
Valley in Esmeralda County, Nevada, close to the town of Silver Peak.
Under mutual agreement with the vendor, the acquisition of Triton is subject to an area of interest clause contained within
the property agreement for the Clayton Northeast Project, currently owned 51% by Advantage and 49% by Nevada Sunrise, located
approximately 5 kilometres to the northeast (for details of the terms of the Clayton Northeast underlying property agreement see
Nevada Sunrise news release dated December 10, 2015, and for details of the Advantage option
agreement for five Nevada lithium properties, including Clayton Northeast, see Nevada Sunrise
news release dated June 20, 2016). Advantage can increase its ownership interest in Triton and
Clayton Northeast to 70% by continuing to fund property exploration and tenure costs. To date, Advantage has funded over
CAD$2.0 million of its CAD$3.0 million earn-in commitment.
"The acquisition of Triton adds a very strategic property to our portfolio of Clayton Valley projects," said Warren Stanyer, President and CEO of Nevada Sunrise. "We believe that Triton lies in a highly-prospective area
for lithium brines at the edge of North America's only producing lithium mine."
About the Triton Lithium Property
Triton consists of 19 unpatented claims totaling approximately 380 acres (154 hectares) and is contiguous to the
Silver Peak lithium brine mine operated by Albemarle Corporation ("Albemarle") (ALB: NYSE), and to the lithium brine exploration
property known as Clayton Valley South owned by Pure Energy Minerals Limited (TSXV: PE). Triton
lies on the southwestern edge of Albemarle's lithium brine operations, and a portion of a dormant evaporation pond is present on
the Property. Triton straddles Alcatraz Island in a geologically prospective area less than 1 kilometre from the town of Silver
Peak and is divided into two parts - East Graben and West Graben, with each area covering a playa surface. No known exploration
drill holes are present on Triton. Nevada Sunrise believes that the stratigraphy of the Property is consistent with that of
Albemarle's Silver Peak lithium brine production area and intends to drill test Triton as soon as is practicable.
For further information on Triton including a map showing its location, see the Company's website under "Projects-Nevada
Lithium" at: http://www.nevadasunrise.ca/projects/nevadalithium/
About the Clayton Valley
In 2013, the USGS released a report describing the Clayton Valley's potential to host lithium deposits based on the
hypothesis that lithium is liberated by weathering of host rocks or derived from hydrothermal fluids from a variety of rock
sources within a closed basin. The floor of Clayton Valley has an area of about 100 square kilometers and a catchment of about
1,400 square kilometres, and is the lowest (topographically) of at least five adjacent basins that are hydrologically linked by
groundwater flow (Zampirro, 2003). It is the combined area of all five linked catchments that makes the effective area of the
Clayton Valley lithium-brine system much larger than the footprint of the Clayton Valley proper (Source: from USGS Open File
13-1006, 2013).
A successful 6-hole exploration drilling program carried out in 2016-2017 by Nevada Sunrise and Advantage at Clayton Northeast
intersected up to 426.72 metres of brine-producing strata averaging 243.44 milligrams per litre ("mg/l") lithium in borehole
CNE-17-04 between a depth of 140.21 metres to 609.6 metres, including a higher-grade interval averaging 274.6 mg/l lithium over
79.2 metres from a depth of 530.35 metres to 609.6 metres (see Nevada Sunrise news release dated March 1,
2017).
Robert M. Allender, Jr., CPG, RG, SME 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
herein.
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 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 a
75% interest in the Neptune project (Resolve Ventures Inc. (TSXV: RSV) owns a 25% interest), a 100% interest in the Clayton
Northeast project, and 100% of the Aquarius project by way of staking, all located in the Clayton Valley area. The Company also
holds options to earn 100% interests in the Jackson Wash and Atlantis projects, each located in playas proximal to the Clayton
Valley. In July 2016, the Company optioned five of the Nevada
lithium projects to Advantage Lithium Corp., who since has earned a 51% interest in Clayton Northeast, Aquarius and Jackson Wash
projects, and a 50% participating interest in the Gemini project. 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 Liberty Gold Inc. (formerly Pilot Gold
Inc.) (TSX: LGD) at Kinsley Mountain near Wendover, a 100% interest in the Golden Arrow project
near Tonopah, and an option to earn a 100% interest in the Roulette gold property in the
southeastern Carlin trend near Ely, with each of the properties
subject to certain production royalties.
FORWARD LOOKING STATEMENTS
All statements in this news 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 the properties transaction with Advantage Lithium Corp., and the proposed exploration and
development of our lithium exploration properties. 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 its
lithium properties, reliance on technical information provided by third parties on any of our exploration properties, including
access to historical information on its lithium properties, 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 Six Months Ended March 31, 2017, 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 in accordance with 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
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