TSX Venture Exchange: NEV
VANCOUVER, June 23, 2017 /CNW/ - Nevada Sunrise Gold
Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) wishes
to update its shareholders on the drilling program recently
completed on the Roulette Gold Project ("Roulette") located in
White Pine County, Nevada,
USA.
2017 Roulette Drilling Program
The 2017 drilling program at Roulette consisted of four reverse
circulation holes totaling approximately 3,480 feet (1,060 metres).
Three of the drill holes tested targets chosen from geophysical
and/or geochemical surveys carried out by Nevada Sunrise. The first
three holes did not encounter significant gold mineralization. A
fourth hole was subsequently planned and permitted, targeting the
possible depth extent of the Parlay mineralized jasperoid,
where outcrop sampling in 2014 by the Company returned 4.44
grams/tonne gold over 3.33 metres (see Nevada Sunrise news release
dated November 17, 2014). The fourth
drill hole did not encounter any significant gold
mineralization.
Consequently, the Company has terminated the option-to-purchase
agreement for Roulette.
John R. Kerr, P. Eng., is the
Company's designated Qualified Person within the meaning of
National Instrument 43-101 and has reviewed and approved the
technical information contained in this news release.
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 nine gold and lithium mineral 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,
and a 21% interest in a joint venture with Liberty Gold Corp. (TSX:
LGD, formerly Pilot Gold Inc.) at Kinsley Mountain, with each of
the properties subject to certain production royalties.
Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, which include options to earn
100% interests in the Neptune (Resolve Ventures, TSXV: RSV owns a
25% interest in Neptune), Clayton
Northeast and Triton projects, and a 100% interest in the
Aquarius project, all located in the Clayton Valley area. The
Company also holds options to earn 100% interests in the Jackson
Wash and Atlantis projects, and holds a 3% gross overriding royalty
interest in in the Gemini project, each located in playas proximal
to the Clayton Valley. The Company has optioned six of its
Nevada lithium projects to
Advantage Lithium Corp., (TSXV: AAL), who has earned a 51% interest
in Clayton Northeast, Triton,
Aquarius, and Jackson Wash projects, and a 50% interest in the
Gemini, project. The Atlantis project is 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,
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 study, proposed exploration and development of our
exploration properties and the estimation of mineral resources.
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
interpretation and actual results of historical work at the
Roulette property, reliance on technical information provided by
third parties on any of our exploration properties, including
access to historical information on the Roulette property, 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 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, 2017, 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