TSXV: NEV
July 19, 2018, VANCOUVER /CNW/ - Nevada Sunrise Gold
Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce that an airborne electromagnetic survey has
commenced on the Coronado VMS property ("Coronado", or the "Property"), located in the Tobin and Sonoma Range of Pershing County, Nevada, approximately 30 miles (48 kilometers) southeast of Winnemucca.
"Nevada Sunrise continues to search for undiscovered value in mineral-rich Nevada, considered
to be one of the best exploration districts in the world," said Warren Stanyer, President and CEO
of the Company. "We look forward to seeing the results of the VTEM™ survey, which is well-suited to detect VMS-style
mineralization."
The VTEM™ (Versatile Time Domain Electromagnetic) survey totalling 648 line kilometres is contracted to Geotech Ltd. of
Aurora, Ontario, Canada, and is designed to cover areas of the Tobin and Sonoma Range that are
interpreted to be prospective for volcanogenic massive sulphide ("VMS") mineralization. Geotech's VTEM™ airborne survey method is
renowned for its depth penetration, its detection of discrete conductive electromagnetic anomalies and for mapping geologic
structure and lithology. The presence of the past-producing Big Mike copper mine within the boundaries of the Property and
numerous other mineral showings in the area indicates that the potential exists for other VMS deposits within Coronado. The Big Mike deposit and other VMS showings lie within the Late Devonian to Late Permian-age
Havallah volcanic-sedimentary sequence. To the best of the Company's knowledge, this overlooked Paleozoic greenstone belt has
never been surveyed by modern airborne electromagnetic methods. If the results of the VTEM™ survey warrant, Nevada Sunrise
will exercise its right to proceed to a definitive agreement for Coronado (for further details
regarding the acquisition of Coronado, see Nevada Sunrise news release dated June 7, 2018).
About Coronado
Coronado currently consists of approximately 236 located unpatented claims totaling
approximately 4,720 acres (1,910 hectares) located over an interpreted trend adjacent to the historic Big Mike copper mine ("Big
Mike"). Big Mike was discovered in the 1930s when a shallow, oxidized portion (gold-bearing gossan) of the deposit was located by
prospectors. The area was explored further in the late 1960s by Cerro Corp. and a deeper (greater than 300 feet, or 91 meters)
high-grade (supergene-enriched) massive sulphide lens was discovered by diamond core drilling. In 1970, Ranchers Exploration and
Development Company ("Ranchers") developed the high-grade portion of the deposit with a small open pit mine that produced
approximately 25 million pounds of copper in 100,000 tons of ore grading 10.5% copper, which was shipped directly to a smelter in
West Germany. Heap leaching of lower-grade disseminated copper ore was also carried out by
Ranchers; approximately 300,000 tons of mineralized rock was treated. Historical sampling also shows the presence of cobalt at
Big Mike, with values in the deposit ranging up to 2,500 parts per million cobalt, or 0.25% (Rye et al, Economic Geology,
Vol. 79, 1984).
Theodore DeMatties, CPG, PG, 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.
Readers are cautioned that some of the technical information described in this news release is historical in nature; however, the
information is deemed credible and was produced by professional geologists of the eras discussed. Mineralization located on
adjacent properties by historical exploration may not be present on Coronado.
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, cobalt, copper and
lithium exploration projects in the State of Nevada, USA.
The Company's two key gold assets include a 100% interest in the Golden Arrow project near Tonopah, currently the subject of a transaction with Emgold Mining Corporation (TSXV: EMR), and a 21%
interest in a joint venture at Kinsley Mountain with Liberty Gold Inc. (TSX: LGD) near Wendover,
with each of the properties subject to certain production royalties.
In November 2017, Nevada Sunrise announced an option to earn a 100% interest in the historic
Lovelock Cobalt Mine property, located approximately 100 miles (150 kilometers) east of Reno. In March 2018, the Company announced options to earn 100% interests in the Treasure Box and Boyer Mine copper
properties, located approximately 3.6 miles (5.8 kilometers) southwest of the Lovelock Cobalt Mine.
Nevada Sunrise began acquisitions of Nevada lithium properties in 2015, which includes 100%
interests in the Neptune, Jackson Wash and Aquarius projects, a 50% interest in the Gemini project
(Eureka Resources Inc. (TSXV: EUK) holds a 50% interest), and a 100% interest in the Atlantis project, currently under
option to American Lithium Corp. (TSXV: LI).
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 gold and other
metals, potential quantity and/or grade of minerals, potential size of a mineralized zone, potential expansion of mineralization,
the timing and results of current or future mineral resource estimates or other studies, proposed exploration and development of
our exploration properties and the estimation of mineral resources on the Company's mineral properties, including the
Coronado property. 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 actual results of proposed exploration at the Coronado property, reliance on technical information provided by third parties on any of our exploration
properties, including access to and interpretation of historical information on the Coronado
property as well as specific historical data associated with drill results and sampling from the adjacent areas to the
Coronado property, information from the public domain, 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; failure of Nevada Sunrise or its contractors to complete anticipated work programs;
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, 2018, 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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