Drilling Commences At The Gemini Lithium Project

VANCOUVER - Nevada Sunrise Metals Corp. reported that the Phase 2 drilling program has re-commenced at the Gemini Lithium Project located in the Lida Valley basin in Esmeralda County, Nevada. The first hole of the Phase 2 program, GEM22-03, was completed in December 2022 and drilling of the second Phase 2 hole began this month. Borehole GEM23-04 is targeting a strong conductive anomaly approximately 0.73 miles (1.17 kilometers) northwest of hole GEM22-02 and is planned to test the deepest part of the Gemini basin to an estimated depth of 2,000 feet (609.75 meters).

Borehole GEM22-03 was completed at a location approximately 0.47 miles (0.76 kilometers) north of GEM22-01 and 1.14 miles (1.83 kilometers) north of GEM22-02. Basement rock was intersected at 1,565 feet (477.3 meters) and the hole was stopped at 1,620 feet (494 meters) in a sedimentary rock unit interpreted as the Emigrant Formation. This is the first known contact to basement in the Gemini sedimentary basin, which greatly assists in the geological understanding of the Project.

Sampling of the lithium-bearing green clay layer began at 285 feet (86.89 meters) after the drill passed through the surficial alluvium (sand and gravel) layer and a total of 186 sediment samples were collected to the end of hole. An initial geochemical assessment of the green clay layer consisting of 22 sediment samples to a depth of 810 feet (246.95 meters) was submitted on a rush basis in late November 2022 to American Assay Laboratories in Sparks, Nevada, which produced results ranging from 615 parts per million (ppm) lithium to 1,450 ppm lithium. The remainder of the sediment samples from hole GEM22-03 were submitted to ALS Group USA in Reno, Nevada. Thirty-nine groundwater samples were also submitted to Western Environmental Laboratories in Reno, Nevada for analysis. The final results of the sediment and water analyses to the end of hole GEM22-03 will be released following their receipt, compilation and interpretation.

Nevada Sunrise drilled two reverse circulation ("RC") boreholes for a total of 2,020 feet (615.85 meters) in its Phase 1 program at Gemini in March and April 2022. The drill sites were located within a defined gravity low that hosts conductive layers detected by historical ground time domain electromagnetic (TDEM) surveys. The results from the first two holes at Gemini represented a new discovery of lithium-bearing sediments and a lithium-bearing brine in the western Lida Valley, which has not been historically drill tested for lithium mineralization.

The Company's Phase 2 drilling program began in the fall of 2022 and is designed to expand the footprint of the lithium mineralization encountered to date. High-grade lithium-bearing sediments have been intersected over a strike length of 1.14 miles (1.83 kilometers) and the current geophysical model suggests the presence of many highly-prospective drill targets at Gemini.  Drill pads and access roads are in place at Gemini with an active drilling permit for up to 12 holes, good until July 2024.