Precious Metals

Bravada Files Technical Report for the Wind Mountain Au/Ag Project, Nevada, Including Phase I PEA Results of 38% IRR and US$46.1 Million After-Tax NPV@5%

Bravada Files Technical Report for the Wind Mountain Au/Ag Project, Nevada, Including Phase I PEA Results of 38% IRR and US$46.1 Million After-Tax NPV@5%

Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) (the "Company" or "Bravada") reports today that it has filed a technical report (the "Report") prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101"). The Report may be found under the Company's profile at www.sedar.com and on Bravada's website https:bravadagold.com.

The Report dated January 20, 2023 and entitled "Updated Technical Report and Preliminary Economic Assessment, Wind Mountain Gold-Silver Project", located in Washoe County, Nevada, was prepared by RESPEC Company LLC ("RESPEC", formerly Mine Development Associates), Woods Process Services, and Debra Struhsacker, Bravada's Environmental Permitting and Government Relations Consultant.

Economics have improved significantly compared to the Company's 2012 study due to utilizing a near-mine, heap-leach pad site for a portion of the Pit-constrained resource and higher grades for early mining, which were predicted and then verified by drilling during 2021. To add additional mine life, a Phase II pad site has been identified due north of the Phase I site but was not considered during the current PEA. Although Pad II is somewhat farther from the currently identified Pit-constrained resource, it is located very close to outcropping mineralization at the North Hill target area, which has only been tested with minor drilling. Other potential additions to mine life that the Phase I PEA did not consider include mineralization at the South End target and historic "waste rock piles" where the Company has identified potentially recoverable gold and silver.

There are no material differences in the Mineral Resource or the Phase I PEA results contained in the Report from those disclosed in the December 8, 2022 news release, except that the Revenue portion of the Sensitivity Table has been corrected in the table below.

Total Pit-constrained Resource

After verifying and slightly modifying the Wind Mountain 2012 Global Resource based on subsequent drilling, which was confirmed to within

Wind Mountain Project 2022 Resources
2022 - Constrained in $1750 Gold Price Optimized Pit
Indicated
Cutoff
oz Au/tonTonsoz Au/Toz Ag/Toz Auoz Ag
variable 45,583,0000.0100.26 474,000 11,807,000
Inferred
Cutoff
oz Au/tonTonsoz Au/Toz Ag/Toz Auoz Ag
variable 2,604,0000.0080.19 21,900 497,000

Notes:

  • The Effective Date of the Wind Mountain mineral resources is October 4, 2022.
  • The estimate of mineral resources was done by RESPEC in Imperial tons.
  • Mineral Resources comprised all model blocks at a 0.006oz Au/ton cut-off for Oxide within an optimized pit and 0.014oz Au/ton for Mixed and Unoxidized within an optimized pit.
  • The project mineral resources are block-diluted Mineral Resources potentially amenable to open pit mining methods and reported within optimized pits using a gold price of US$1,750/oz, a silver price of US$21/oz and a throughput rate of 20,000 tonnes/day. Assumed metallurgical recoveries for gold are 62% for oxide, 20% for mixed and 15% for unoxidized. Assumed metallurgical recoveries for silver are 15% for oxide and 0% for mixed and unoxidized. Mining costs of US$2.75/tonne mined, heap leach processing costs of US$3.17/tonne processed, general and administrative costs of $0.57/tonne processed. Gold and silver commodity prices were selected based on analysis of the three-year running average.
  • Material in waste dumps and heap leach pads are NOT included in the current model and resource.
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  • The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  • Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content.

Phase I Preliminary Economic Assessment for a Close-in Heap-leach Site

The Phase I Preliminary Economic Assessment ("PEA") assumes open-pit, contract mining with conventional trucks and shovels and run-of-mine leaching. The base-case economic model(1) is summarized below in US dollars and Imperial units (some values rounded):

Resource inside the pits for Phase I PEA = 29.2 million tons of Indicated Resource @ 0.011 oz Au/t & 0.267 oz Ag/t and 1.08 million tons of Inferred Resource at 0.009 oz Au/t and 0.173 oz Ag/t, both at a cut-off grade of 0.008 oz Au/t. Oxide mineralization = 30.2 million tons and Mixed oxide/sulfide = 0.01 million tons.

Gold & Silver Ounces mined = 344,000 oz Au and 7,975,000 oz Ag.

Gold & Silver Ounces produced = 213,000 oz Au (recovery 61.9%) & 1,194,000 oz Ag (recovery 15%) or 227,000 oz Au-eq(2).

Waste: Ore Strip ratio = 0.55:1

Capital = Initial capital of $46.6 million with $19.8 million sustaining capital

Mine Life = approximately 4.2 years of mining

After-tax Payback Period = 1.8 years

Life-of-mine cash cost(3) = $1,045 per ounce Au

All-in Sustaining Costs = $1,175 per ounce Au

After-tax IRR = 38%

After-tax NVP@5% = $46.1 million

  1. Canadian NI 43-101 guidelines define a PEA as follows: "A preliminary economic assessment is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be classified as mineral reserves, and there is no certainty that the preliminary assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability."
  2. Expected recoveries were incorporated to convert silver to gold equivalent (Au-eq) at 345 Ag:1 Au ($1,750 x 61.9% divided by ($21 x 15%)).
  3. Costs include estimated Nevada Net Proceeds taxes, property taxes, estimated corporate income tax, and treats silver as a by-product credit.

Sensitivity studies by RESPEC are presented in the table below. RESPEC notes that additional studies such as further metallurgical studies to evaluate crushing higher-grade portions of the deposit and grid drilling to delineate economic portions of the previously mined "waste rock", which are given no value in the current model, could further enhance the economics. For example, RESPEC notes that 1.1million tons of historic mine waste is currently classified as "waste" and must be removed during Phase I mining; however, results of limited drilling, surface sampling, and trenching by Bravada suggest the material contains potentially recoverable gold. RESPEC and Woods recommends that the material be placed in a stockpile for additional study or utilized as over liner on the leach pads; the material potentially would be added to the currently designed Phase I pad to further reduce the strip ratio and increase positive economics.

Revenue
Metal Price
LOM Cash FlowNPV @ 5%NPV @ 8%NPV @ 10%IRRLOM Cash FlowNPV @ 5%NPV @ 8%NPV @ 10%IRR
$ K USD$ K USD$ K USD$ K USDPercent$/oz Au$/oz Ag$ K USD$ K USD$ K USD$ K USDPercent
70% $(43,538) $(43,305) $(42,957) $(42,664)-30% $1,600 $19.20 $35,490 $23,426 $17,656 $14,30222%
80% $(7,086) $(12,525) $(15,000) $(16,389)-5% $1,650 $19.80 $44,419 $30,968 $24,509 $20,74428%
90% $27,683 $16,829 $11,662 $8,66917% $1,700 $20.40 $53,433 $38,576
$31,417
$27,23733%
100% $62,322 $46,077 $38,229 $33,63838% $1,750 $21.00 $62,322 $46,077 $38,229 $33,63838%
110% $95,179 $73,859 $63,487 $57,39057% $1,800 $21.60 $70,801 $53,239 $44,736 $39,75543%
120% $126,363 $100,123 $87,309 $79,75974% $1,850 $22.20 $79,280 $60,399 $51,242 $45,87148%
130% $157,272 $126,138 $110,896 $101,90190% $1,900 $22.80 $87,855 $67,641 $57,822 $52,05753%
Operating CostCapital Cost
LOM Cash FlowNPV @ 5%NPV @ 8%NPV @ 10%IRRLOM Cash FlowNPV @ 5%NPV @ 8%NPV @ 10%IRR
$ K USD$ K USD$ K USD$ K USDPercent$ K USD$ K USD$ K USD$ K USDPercent
70% $123,722 $98,006 $85,454 $78,06174%70% $81,761 $64,349 $55,849 $50,84267%
80% $103,996 $81,368 $70,348 $63,86663%80% $75,281 $58,258 $49,976 $45,10755%
90% $83,401 $63,942 $54,496 $48,95251%90% $68,801 $52,168 $44,102 $39,37346%
100% $62,322 $46,077 $38,229 $33,63838%100% $62,322 $46,077 $38,229 $33,63838%
110% $40,221 $27,371 $21,211 $17,62625%110% $55,593 $39,782 $32,173 $27,73331%
120% $17,990 $8,559 $4,098 $1,52511%120% $48,736 $33,380 $26,022 $21,74126%
130% $(4,240) $(10,254) $(13,015) $(14,575)-3%130% $41,878 $26,979 $19,872 $15,74821%

President Joe Kizis commented, "The phased approach has several advantages that improve the economics and reduce the risk to development at Wind Mountain. Phase I takes advantage of the leach pad space adjacent to the modelled mining operation, as well as the increased grade verified by drilling during 2021 for increased cash flow during the early years of production that provides cash flow to fund sustaining capital required in year 3. To increase mine life, a probable Phase II pad site has been identified directly north of the Phase I pad, which should be sufficient for the remaining 28% of the 2022 Pit-constrained Resource not depleted during Phase I and possibly more. Capital costs to activate Phase II should be reasonable and potentially could be funded by cash flow. In addition, there are several poorly drilled areas of outcropping mineralization at the North Hill target that might be processed at the nearby Phase II pad. All mineralization in Phase I, and most of the mineralization anticipated for Phase II, is in the oxidized Indicated category, so potentially could quickly be upgraded to Reserve Category with a Pre-feasibility study. Operational advantages for development of Wind Mountain include its location in a sparsely populated region of northwest Nevada (less than a 2-hour drive from Reno), county-maintained roads, power lines to the property, location six miles from a geothermal power station, and no known significant environmental or archaeological impediments."

Recommendations and 2023 Plans

The Report makes several specific recommendations to advance the property, including additional metallurgical testing, additional exploration drilling around the North Hill target, updating earlier biological and archaeological studies, and engaging nearby communities in the early planning stages. Costs for the next-stage work to culminate in a Pre-feasibility study is estimated at US$768,000, not including costs for permitting and community engagement.

The Report's conclusion states, "The Wind Mountain property is a property of merit and warrants additional exploration as well as economic studies. The project location and infrastructure are favorable for mine development and should the project advance through feasibility with positive results, improvements to necessary infrastructure (power, water, access, housing, etc.) should be reasonably inexpensive. There are no known environmental, social, or logistical impediments to developing a mine at Wind Mountain. In addition, deeper targets of unoxidized mineralization and improved understanding of economic potential of historic waste dumps may add additional value to the project. Additional targets for oxidized mineralization have also been identified during geologic modeling."

Qualified Persons

RESPEC, Woods Process Services, and Debra Struhsacker, Bravada's Environmental Permitting and Government Relations Consultant, compiled the Report. Thomas Dyer, P.E. is a Principal Engineer for RESPEC and is responsible for sections of the Report involving mine designs and the economic evaluation; Michael Lindholm, C.P.G., is a Principal Geologist for RESPEC, and is responsible for the sections involving the Mineral Resource estimate; Jeffery Woods, SME MMSA QP, is an independent Principal Consulting Metallurgist with Woods Process Services and is responsible for the sections on process 13, 17 and 21. The PEA relies on Debra Struhsacker as an expert in permitting. Thomas Dyer, Michael Lindholm and Jeffery Woods are the Qualified Persons of the Report for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

About Wind Mountain

The past-producing Wind Mountain gold/silver project is located approximately 160km northeast of Reno, Nevada in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. AMAX Gold/Kinross Gold recovered nearly 300,000 ounces of gold and over 1,700,000 ounces of silver between 1989 and 1999 from two small open pits and a heap-leach operation (reported data based on Kinross Gold files). Rio Fortuna Exploration (U.S.) Inc., a wholly owned US subsidiary of Bravada Gold Corporation, acquired 100% of the property through an earn-in agreement with Agnico-Eagle (USA) Limited, a subsidiary of Agnico-Eagle Mines Limited, which retains a 2% NSR royalty interest, of which 1% may be purchased for $1,000,000 at any time prior to commencement of production (purchase to reduce royalty is assumed in PEA calculations). The resource and PEA for Wind Mountain were updated in April 2012 and further updated in November 2022.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the World. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company entered into 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in the Battle Mountain/Eureka and Walker Lane Trends, two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, responding to investor's commonly asked questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person for the Company and is responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152321

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Bravada Reports 38% IRR and US$46.1 Million After-Tax NPV@5% for Phase I PEA at Wind Mountain Au/Ag Project, Nevada; Additional Leach-Pad Site Being Evaluated for Phase II

Bravada Reports 38% IRR and US$46.1 Million After-Tax NPV@5% for Phase I PEA at Wind Mountain Au/Ag Project, Nevada; Additional Leach-Pad Site Being Evaluated for Phase II

Highlights

  • The Phase I PEA includes a 30.3million ton capacity leach pad, roughly 62% of the updated, Pit-constrained Resource tons, taking advantage of a leach-pad site adjacent to the modeled open pit.
  • A potential Phase II pad site directly north of Phase I is being evaluated to include additional Pit-constrained Resource as well as adjacent, under-drilled outcropping mineralization at North Hill.
  • The PEA and Pit-constrained Resource were modeled with 3-year, trailing average prices of US$1,750 for gold and $21 for silver.
  • The Pit-constrained Resource consists of:
    • 46million tons at 0.010 oz Au per ton and 0.26 oz Ag per ton containing 474,000ounces of Au and 11,807,000ounces of Ag in the Indicated Category; and
    • 2.6million tons at 0.008 oz per ton Au and 0.19 oz Ag per ton containing 21,900ounces of Au and 497,000ounces of Ag in the Inferred Category.
  • The Phase I PEA consists of 96% of the gold ounces in the Indicated ResourceCategory, acceptable for Pre-feasibility study.
  • Compared to the Company's independent 2012 Resource/PEA study, the Phase I PEA considers only a portion of the pit-constrained Resource that will fit onto a restricted area available as a close-in heap-leach pad site; 30.3million tons (31% less than the 2012 model, which utilized a pad space located much farther from the mine) and produces 227,000 ounces of Au-eq (29% less than the 2012 model pit).
  • Even with fewer tons being mined, Initial Capital increased by 3% to $46MM, with most of the Sustaining Capital in year 3.
  • The strip ratio was reduced by 23% to 0.55:1 waste to ore and the payback period was reduced 15% to 1.9 years in the current Phase I study.
  • Higher grades predicted and then verified by 2021 drilling resulted in better grades in early years and conversion of certain Inferred blocks into Indicated blocks, improving economics.
  • The strip ratio may be reduced further with additional test work as 1.1million tons of historic "waste rock" that must be removed in Phase I can be removed and stored on a low-grade stockpile. The material is currently not considered part of the Resource but limited sampling and drilling suggest it may contain recoverable gold, which may be processed on the Phase I heap pad.
  • The economics of the Phase I PEA have improved significantly compared to the 2012 PEA despite higher costs for capital and many operating costs. The AFTER-TAX IRR is 38% (an 81% improvement over the 2012 IRR of 21%) and the AFTER-TAX NPV @5% discount is $46.1million (a 74% improvement over the earlier NPV @5% of $26.5MM).

Bravada Gold Corporation (TSXV: BVA) (the "Company" or "Bravada") reports the results of an updated, independent Resource and Phase I Preliminary Economic Assessment (PEA) for its Wind Mountain GoldSilver Property in Washoe County, Nevada.

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All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.

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(TheNewswire)

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 Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) (" Augusta Gold " or the " Company ") is issuing this press release in response to recent trading activity of its stock.

Augusta Gold Logo (CNW Group/Augusta Gold Corp.)

Augusta Gold is not aware of any material, undisclosed information related to the Company that would account for the recent decrease in the market price and increase in level of trading volume of its shares of common stock.

The Company further confirms that it has no agreements, paid research relationships or any other marketing arrangements with any parties to provide marketing services to the Company.

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursuing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/augusta-gold-comments-on-trading-activity-301733953.html

SOURCE Augusta Gold Corp.

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(TheNewswire)

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Nevada Sunrise Engages McClelland Laboratories Inc. for the Gemini Lithium Project

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Nevada Sunrise Metals Corp. ("Nevada Sunrise", or the "Company", formerly Nevada Sunrise Gold Corp.) (TSXV: NEV) (OTC: NVSGF) is pleased to announce that it has contracted McClelland Laboratories Inc. of Sparks, NV ("MLI") to perform metallurgical leach tests on samples of lithium mineralization intersected by the Company at the Gemini Lithium Project ("Gemini", or the "Project") in Esmeralda County Nevada. Gemini is located in the Lida Valley, approximately 25 miles (38 kilometres) southwest of the only producing lithium mine in the United States at Silver Peak, Nevada .

Nevada Sunrise Metals Corporation logo (CNW Group/Nevada Sunrise Gold Corporation)

"Nevada Sunrise looks forward to the ongoing collaboration between MLI and our Nevada -based metallurgical consultant, Mr. Willem Duyvesteyn ", said Warren Stanyer , President and CEO of Nevada Sunrise. "We anticipate that the work of MLI's technical team will provide critical information about the lithium mineralization and extractability from sample material generated during our 2022 drilling campaign, to help guide future exploration and development at Gemini."

MLI has offered metallurgical, environmental, analytical testing and consulting services to the mineral exploration industry since 1987 and operates an ISO 17025 accredited facility that provides quality laboratory services during all phases of project development and operation. Willem Duyvesteyn, M.Sc.,  is renowned as an innovator in his field of and is the primary inventor and author of over 100 patents for mineral and hydrocarbon extractive technologies, including numerous applications for the extraction and leaching of metals and minerals from ores, brines, and solutions (see Nevada Sunrise news release dated November 15, 2022 ).

About Gemini

Gemini consists of 582 unpatented placer and lode claims (covering about nine square miles) located in the western Lida Valley, Esmeralda County , approximately 6 miles (10 kilometres) east of the town of Lida, Nevada . The Lida Valley is a flat, arid basin with a similar geological setting to the better-known Clayton Valley basin where Albermarle Corporation operates the Silver Peak lithium brine mine, which has operated continuously since 1966.

Gemini is situated adjacent to the Gold Point Solar Energy Zone, a Bureau of Land Management land reserve set aside for solar and wind power generation projects until 2033. Exploration at Gemini is complemented by the Company's 80.09 acre/feet/year water right, a pre-requisite for the exploration and development of lithium brine projects in Nevada . Under the laws of Nevada , water cannot be pumped from a subterranean source without a valid water permit.

In March 2022 , Nevada Sunrise began drilling geophysical targets at Gemini and intersected significant zones of lithium mineralization in sediment and groundwater in the first two holes (see Nevada Sunrise news release dated June 6, 2022 ). Drilling continues in 2023 with a Phase 2 drilling program of up to six additional holes. Final geochemical analyses for lithium-in-sediments and groundwater are pending for hole GEM23-03, which was completed in mid-December 2022 .

The scientific and technical information contained in this news release has been reviewed and approved by Robert M. Allender, Jr. , CPG, RG, SME and a Qualified Person for Nevada Sunrise as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

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 lithium, gold, copper and cobalt exploration projects located in the State of Nevada, USA .

Nevada Sunrise owns 100% interests in the Gemini and Jackson Wash lithium projects, both of which are located in Esmeralda County, NV. The Company owns Nevada water right Permit 86863, located in the Lida Valley basin, near Lida, NV.

The Company's key gold asset is a 20.01% interest at the Kinsley Mountain Gold Project ("Kinsley Mountain") near Wendover, NV. Kinsley Mountain is a joint venture with Copaur Minerals Inc. ("Copaur"), following the completion of a plan of arrangement between Copaur and the Company's former joint venture partner, New Placer Dome Gold Corp.  Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au 1 .

1 Technical Report on the Kinsley Project, Elko County, Nevada , U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin , Ph.D., and Gary L. Simmons , MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR ( www.sedar.com ).

Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV. The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, NV , with Global Energy Metals Corp. holding an 85% participating interest.

FORWARD LOOKING STATEMENTS

This news 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 exploration plans at our Nevada lithium projects; 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 encountered 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 Year Ended September 30, 2022 , 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.

Neither TSX Venture Exc hange 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.

SOURCE Nevada Sunrise Gold Corporation

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