Nevada Lithium Announces Proposed Extension of Warrant Expiry Date

Nevada Lithium Resources Inc. (TSXV: NVLH) (the "Company" or "Nevada Lithium") announces that, subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company intends to amend the terms of an aggregate of 41,333,333 outstanding common share purchase warrants (the "Warrants") of the Company by extending the expiry date of the Warrants from July 7, 2026 to July 7, 2028 (the "Proposed Amendment").

The Warrants were issued on July 7, 2023 upon the automatic conversion of 41,333,333 subscription receipts (the "Subscription Receipts") of the Company issued under the Company's previously announced non-brokered private placement of Subscription Receipts at a price of $0.15 per Subscription Receipt, which was announced by news release dated June 20, 2023 (the "2023 Offering"). The Subscription Receipts converted into units of the Company (each comprised of one common share of the Company (a "Common Share") and one Warrant) upon satisfaction of the escrow release conditions, which occurred concurrently with the closing of the Company's plan of arrangement with Iconic Minerals Ltd. as announced by news release dated July 10, 2023. Each Warrant currently entitles the holder thereof to purchase one Common Share at an exercise price of $0.25 per share until July 7, 2026.

Other than the proposed extension of the expiry date, all other terms and conditions of the Warrants will remain unchanged, including the exercise price of $0.25 per Common Share. The Proposed Amendment is subject to acceptance by the TSXV, and there can be no assurance that such acceptance will be obtained. None of the Warrants subject to the Proposed Amendment were issued to any agent, broker or finder as compensation for services.

About Nevada Lithium Resources Inc.

Nevada Lithium Resources Inc. is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire Lithium Project, located in Nye County, Nevada, where it holds a 100% interest. The Company recently filed a PEA on the Bonnie Claire Lithium Project. The PEA has an effective date of March 31, 2025 and presents a $6.829 billion after-tax Net Present Value ("NPV") at an 8% discount rate, based on $24,000/tonne Li2CO3, $950/tonne boric acid, together with a 32.3% after-tax Internal Rate of Return ("IRR"). Results of the PEA were announced in the Company's news release, dated August 6, 2025. The PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to be classified as Mineral Reserves. There is no certainty that the results of the PEA will be realized.

For further information on Nevada Lithium and to subscribe for updates about Nevada Lithium, please visit its website at: https://nevadalithium.com/.

ON BEHALF OF THE BOARD OF DIRECTORS
NEVADA LITHIUM RESOURCES INC.

Stephen Rentschler
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases, or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the Proposed Amendment; the anticipated receipt of acceptance of the Proposed Amendment from the TSXV; the timing for receipt of such acceptance; the anticipated amended expiry date of the Warrants; and the Company's business plans, objectives and strategies.

These forward-looking statements are based on a number of assumptions, including, without limitation: that the TSXV will accept the Proposed Amendment on the terms described herein and on a timely basis; that the Company will be able to satisfy all applicable requirements of TSXV Policy 4.1 in connection with the Proposed Amendment, including the requirements of Sections 3.1 and 3.2 thereof; that no event will occur prior to TSXV acceptance that would cause the Company to be unable to complete the Proposed Amendment; and that general business, economic, competitive, political and social conditions will remain consistent with the Company's expectations.

Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, without limitation: the risk that the TSXV may not accept the Proposed Amendment on the terms described herein, or at all; the risk that TSXV acceptance is not obtained in advance of the current expiry date of the Warrants on July 7, 2026, in which case the Warrants would expire in accordance with their existing terms; changes in applicable laws, regulations or stock exchange policies; risks associated with capital markets and the price of and demand for the Common Shares; and the other risks identified in the Company's continuous disclosure record available under its profile on SEDAR+ at www.sedarplus.ca.

Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update any forward-looking statements that are contained or incorporated by reference herein, except in accordance with applicable securities laws. Readers should not place undue reliance on forward-looking statements.

Neither the 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 news release.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303164