Lithium

TSX Venture Exchange: NEV Nevada Sunrise Gold Corp. is pleased to announce that the Nevada Division of Water Resources has granted a one-year extension of time for the Company's Nevada water right Permit 44411 . The Permit is owned by a subsidiary company of Nevada Sunrise and is currently the subject of a purchase and sale agreement with Cypress Development Corp. of Vancouver, BC Canada . The extension of time ...

TSX Venture Exchange: NEV

Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the " Company ") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that the Nevada Division of Water Resources ("NDWR") has granted a one-year extension of time for the Company's Nevada water right Permit 44411 (the "Permit"). The Permit is owned by a subsidiary company of Nevada Sunrise and is currently the subject of a purchase and sale agreement with Cypress Development Corp. of Vancouver, BC Canada (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ("Cypress").

Nevada Sunrise Gold Corporation Logo (CNW Group/Nevada Sunrise Gold Corporation)

The extension of time granted by the NDWR to August 28, 2022 supports a successful closing of the purchase of the Permit by Cypress, projected to occur in December 2021 (the "Transaction"). The Permit allows for the beneficial use of 1,770 acre/feet of water for mining, milling and domestic use per year and will form an essential component of Cypress' plans for the development of a new lithium mine in Esmeralda County .

The agreed purchase price for the Permit is US$3.0 million to be paid in a combination of cash and Cypress' common shares (see Nevada Sunrise news release dated May 10, 2021 ). The purchase price includes an initial non-refundable cash payment of US$150,000 (paid), and a final payment of US$2.85 million on receipt of all necessary approvals and transfer of the Permit to Cypress (the "Closing Payment"). The Closing Payment comprises US$2.0 million in cash and the issuance of Cypress' common shares to the value of US$850,000 (the "Share Issuance").

The Agreement is subject to terms and conditions customary for a transaction of this nature, including TSX Venture Exchange approval of the Share Issuance. Net proceeds received by the Company from the Transaction upon closing will be used to retire legal liabilities totaling approximately US$500,000 incurred during the water rights litigation from 2016 to 2019 (see Nevada Sunrise news releases dated May 16, 2016 and September 30, 2019 ), and payment of the balance owing to the underlying vendor of the Permit of approximately US$800,000 (for details of the Company's purchase of the Permit see Nevada Sunrise news release dated March 21 , 2016).

About the Permit

Nevada Sunrise, through its wholly-owned Nevada subsidiary company, Intor Resources Corporation ("Intor"), acquired the Permit from an underlying vendor in 2016. The Permit represents the largest volume of permitted water available in the Clayton Valley, which is a fully-appropriated hydrogeographic basin. With the exception of a single limited use permit, the NDWR has maintained that no new water is available within the Clayton Valley basin for appropriation. Nevada Sunrise has successfully defended the validity of the Permit in recent years, including negotiating a 2019 settlement agreement with Albemarle Corporation.

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

The Company's key gold asset is a 20.01% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project ("Kinsley Mountain") near Wendover where an extensive exploration program, including drilling and ground geophysics, concluded in late November 2020 . 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 right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca . 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 , with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.

Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda County . The Company owns Nevada water right Permit 44411, located within the Clayton Valley basin near Silver Peak, Nevada , and water permit 86863, located in the Lida Valley basin, near Lida, Nevada .

FORWARD LOOKING STATEMENTS

All statements in this release, other than statements of historical fact, are "forward-looking information" with respect to Nevada Sunrise within the meaning of applicable Canadian securities laws, including statements that address the potential sale of the Company's water rights, and the potential for future development of a lithium resource and mineral production by Cypress. 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 potential sale of the Company's water rights (the "Transaction"), reliance on technical information provided by third parties on the Company's water rights or on Cypress' Clayton Valley lithium project, including access to historical information on exploration, current exploration and development activities; changes in Cypress' project parameters as its 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 due to pandemic; delays in obtaining governmental approvals, financing or in the completion of the Transaction, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Nine Months Ended June 30, 2021 , 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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Cypress Development

Cypress Development

Overview

Electric vehicles aren’t just the hottest trend in Silicon Valley anymore. With wider cultural acceptance in green power alternatives, more accessible technologies and increasingly supportive legislative action, analysts expect this market and the demand for metals that supply it to climb to exponential highs.

In the United States, the government has named lithium a vital component in electric vehicle batteries and a strategic metal of importance. In 2021, President Joe Biden announced a US$2.3 trillion Infrastructure Plan, which outlines the intent to bring electric cars fully to the mainstream with investments of US$174 billion to promote this technology and construct necessary charging stations. This significant spending demonstrates exciting early-mover investment opportunities for lithium production companies and electric industries alike.

Cypress Development (TSXV:CYP, OTCQX:CYDVF) is an advanced-stage mineral exploration company focused on developing its 100 percent owned Clayton Valley lithium project in Nevada, USA. The company’s extensive exploration and development have led to discovering a world-class lithium-bearing claystone resource adjacent to the Albemarle (NYSE: ALB) Silver Peak mine, North America’s only lithium brine operation.

The company’s discovery of the massive resource made Clayton Valley a premium American source of lithium that has the potential to impact the supply of lithium for the fast-growing energy storage battery market.

“We’re in Nevada and we’re in a country that badly needs lithium. We would be the most environmentally friendly project, and the lowest acid consumer. We’re able to eliminate sulfuric acid in our process and that would make us an extremely environmentally friendly, large, inexpensive low cost producer in the heart of the United States.” said Cypress Development CEO Dr. Bill Willoughby.

Clayton Valley Lithium Project, Nevada claims map

The company is using environment-friendly mining alternatives through saltwater and hydrochloric acid instead of the traditional fresh water and sulfuric acid method. This significant proposal could mean Cypress will no longer compete for Nevada’s scarce fresh water supply for Nevada’s freshwater resources for project advancement when it comes time for mining.

In August 2020, Cypress released the results of its pre-feasibility report, which provided a positive snapshot of Clayton Valley’s prospective production scope. Probable reserves stand at 213 million tonnes at 1,129ppm lithium with an average annual production of 27,400 tonnes Lithium Carbonate Equivalent (LCE) and a mine life of over 40 years. After-tax IRR stands at 25.8 percent with a CAPEX of CAD$493 million.

“This PFS is a major milestone for Cypress. These positive results take us closer to our goal of developing a world-class lithium deposit. Cypress’ land position and resources afford us the opportunity for a long-life project with low operating costs and potential to be a significant source of lithium for the United States,” Dr. Willoughby said.

Lithium enriched claystone on surface at Clayton Valley Project, Nevada

The company recently initiated the selection and purchasing of materials to commission a pilot plant and extraction facility for the lithium-bearing claystone from its Clayton Valley Lithium Project in Nevada. The pilot plant is planned to operate at a rate of one tonne/day and will be designed for correct interaction and testing of the major components within the extraction process and assessment of the resulting lithium products.

Company Highlights

  • Cypress Development is one of a handful of companies that are post-pre-feasibility, advancing towards production. The company is well advanced to become a long-term, low-cost lithium producer with potential expansive international reach.
  • The Clayton Valley lithium project in Nevada has an extensive surface deposit in a unique setting adjoining Albemarle’s Silver Peak brine operation.
  • Operating out of the prolific Nevada state provides the company with world-class exploration opportunities, mineral-rich geological resources and proximity to the Tesla gigafactory.
  • In 2020, the company released strong economic standing with its pre-feasibility study, including a probable reserve estimate of 213 million tonnes at 1,129ppm lithium, IRR of 25.8 percent and CAPEX of CAD$493 million.
  • Cypress possesses very favorable economic and geographic positioning in leveraging a present strong demand for lithium, world-class mining jurisdiction and an advanced stage operation in their flagship Clayton Valley lithium project.
  • 2021 plans include the commissioning of the Clayton Valley lithium project’s pilot plant, which could see significant tonnage in lithium and clay production. Cypress is also looking to complete its feasibility study based on the data from this pilot plant operation.
  • Cypress has acquired 24 unpatented mining claims in Clayton Valley, Nevada bringing the Company’s land holdings to 6558 acres in total.

Key Project

Clayton Valley Lithium Project

The 100 percent owned Clayton Valley lithium project spans 5,430 acres in southwest Nevada and sits immediately east of the Albemarle’s Silver Peak mine, North America’s only lithium brine operation. The asset hosts tremendous potential with Cypress’ discovery of a world-class resource of lithium-bearing claystone adjacent to the brine field to the east and south of Angel Island.

Lithium enriched drill core from Clayton Valley Project, Nevada

Lithium mineralization occurs on the property within montmorillonite clays throughout the sediments to a depth of at least 150 meters. Metallurgical testing has indicated low-cost processing possibilities through leaching with low acid consumption of 126 kg/t and high lithium recovery over 85 percent lithium. This lithium claystone deposit’s unique large flat-lying nature allows for mining with a low strip ratio due to minimal overburden and no interbedded waste, which is hugely economically advantageous for Cypress.

Future plans for the Clayton Valley lithium project include commissioning of the pilot plant, which Cypress proposes could process one tonne a day continuously in 2021. The company also intends to use the data from the pilot plant towards the completion of the project’s feasibility study. Cypress also has the acquisition of water rights for Clayton Valley in the works, which pushes significant advancement in the 2021 and 2022 seasons.

Management Team

William Willoughby, PhD, PE

President, Chief Executive Officer & Director

Dr. Willoughby is a mining engineer with 38 years of experience in all aspects of natural resources development. Since 2014, he has been principal and owner of consulting firm Willoughby & Associates, PLLC. Prior to that, he was President and COO of International Enexco Ltd., which was acquired by Denison Mines in 2014. He previously held various positions with Teck (Cominco). Dr. Willoughby has been a Professional Engineer since 1985 and received his Doctorate in Mining Engineering & Metallurgy from the University of Idaho in 1989.

Abraham (Braam) Jonker, CPA, CA

Chief Financial Officer

Mr. Jonker is an accomplished financial leader in the mining industry with almost 30 years of experience. Mr. Jonker has played a pivotal role in several business recoveries and restructurings, was a key team member in management and at the board level in the strategic growth of a number of public companies and has participated, raised and overseen the raising of more than $750 million in the form of equity and debt instruments in the mining industry. He is a registered Chartered Accountant in British Columbia, (Canada), England, Wales and South Africa. He is also a member of the Chartered Institute of Management Accountants in the United Kingdom and holds a Master’s degree in South African and International Tax from the Rand Afrikaans University, South Africa.

Spiros Cacos, MA

Vice President, Investor Relations

Mr. Cacos has over 20 years of investor relations experience working with public mining companies, ranging from early-stage exploration and development to production. Most recently, Mr. Cacos served as Vice President, Investor Relations for First Mining Gold, a Canadian gold development company listed on the TSX and OTCQX, focused on the development and permitting of the Springpole Gold Project, one of the largest undeveloped gold projects in Canada. His prior roles include serving as Vice President, Investor Relations for Group Eleven Resources Corp., a mineral exploration company focused on advanced stage zinc exploration in Ireland, and as Director of Investor Relations for Great Panther Mining Limited (formerly Great Panther Silver Limited), a primary silver mining company listed on the TSX and the NYSE with two mining operations in Mexico. Mr. Cacos holds a Master’s degree in International Relations and Diplomacy, from the Schiller International University in Paris, France, and a Bachelor of Arts Degree from Simon Fraser University in British Columbia, Canada.

Corby G. Anderson, PhD, CEng, FIMMM, FIChemE

Technical Advisor, Metallurgy

Dr. Anderson is a registered engineer with nearly 40 years of global experience in industrial operations, corporate level management, consulting, engineering design, research and education and is an expert in the fields of extractive metallurgy, mineral processing, waste minimization and recycling. He holds degrees of BSc in Chemical Engineering from Montana State University, MSc in Metallurgical…

Adam Knight, PE

Project Manager

Mr. Knight is a professional mining engineer, active in the mining industry since 1994. Before joining Cypress, he worked as a consultant and project manager for Practical Mining LLC of Elko, Nevada. He was Vice President Operations for EMC Metals Corp. until 2015. Prior to that, Mr. Knight worked in various operational capacities for Teranga Gold, Premier Magnesia, and AngloGold. He has experience…

Daniel W. Kalmbach, CPG

Manager, Geology

Mr. Kalmbach has practiced geology for over 21 years and has held various positions with private and public companies in the field of geology, including greenfield and generative exploration, development, mining, and environmental science. He has supported and/or authored multiple technical reports on mineral properties. Mr. Kalmbach began his career at Barrick Gold Corp. as a production geologist…

Todd S. Fayram

Technical Advisor, Metallurgy

Mr. Fayram brings over 30 years of metallurgical engineering experience to his role which include extensive diversified experience in the consulting and operating fields of various mining and milling operations across the globe. His industrial experience includes project and construction management; planning, design and engineering of precious and base metal heap leach and milling operations; industrial mineral development and operations, project evaluation for prefeasibility, feasibility and bankable documents; and metallurgical testing and interpretation of numerous mineral deposits. Mr. Fayram has also held positions in mine and process development, construction, expansion, start-up, and operation of numerous mines to include Minefinders-Dolores, American Bonanza Copperstone, Americas Silver-Cosala, Middle Tennessee Zinc-Gordonsville, Getty Copper Getty Project and others. Mr Fayram is a MMSA Qualified Professional in Metallurgy and holds a degree of Bachelor of Science degree in Mineral Processing Engineering and a Master of Science in Metallurgical Engineering from Montana Tech of the University of Montana.

Jourdan Engages Stanford & Turner for Assistance with Marketing Campaign

Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORFF) (" Jourdan " or the " Company ") announces today that it has entered into a marketing services agreement with Stanford & Turner Marketing Group (" Stanford "). Stanford is a digital media marketing company that provides a combination of content development, web development, media buying and distribution, and reporting and optimization to Jourdan. Pursuant to the agreement, Stanford will assist Jourdan in enhancing its visibility with potential investors through a digital marketing campaign for a total cost of US$75,000 over a three-month period commencing May 9, 2022, and US$25,000 per month on a month-to-month basis thereafter. Stanford is an arm's length party from the Company and principally operates out of Los Angeles, California. As of the date of this press release, neither Stanford nor any of its directors and officers own any interest, directly or indirectly, in the securities of the Company. The appointment of Stanford is subject to approval by the TSX Venture Exchange.

About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol "JOR" on the TSX Venture Exchange and "2JR1" on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company's properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium's producing Quebec Lithium Mine.

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