TSXV: NEV
VANCOUVER, Dec. 6, 2017 /CNW/ - Nevada Sunrise Gold
Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is
pleased to announce, further to its news release dated November 8, 2017, that the Company and its
exploration partner Advantage Lithium Corp. ("Advantage Lithium")
(together, the "Vendors") have completed the sale of the Clayton
Northeast and Triton lithium projects (collectively, "Clayton NE")
to Pure Energy Minerals Limited of Vancouver, B.C., Canada (TSXV: PE) ("Pure Energy").
Clayton NE is located adjacent to the Silver Peak lithium brine
mine in Esmeralda County, Nevada,
which has produced lithium since 1966.
At closing, Pure Energy issued to the Vendors an aggregate of
7.0 million common shares of Pure Energy (the "PE Shares"), of
which 2,100,000 PE Shares were issued to Nevada Sunrise and
4,900,000 to Advantage Lithium.
The Vendors have agreed to voluntary restrictions on the trading
of the PE Shares for a period of 27 months, with partial quarterly
releases commencing after 18 months. In addition, the Vendors
have agreed that for a period of 24 months following closing, they
will vote their respective PE Shares at meetings of shareholders of
Pure Energy in favour of all matters proposed by Pure Energy's
management.
Pure Energy has agreed to assume a 3.0% gross overriding royalty
and certain other obligations of Nevada Sunrise pursuant to an
underlying option agreement.
About Clayton NE
Clayton NE (including the Triton claims acquired by the Vendors
in May 2017) consists of 74
unpatented claims totaling approximately 1,460 acres (590 hectares)
located in the Clayton Valley basin of Esmeralda County, Nevada, and is contiguous to
the southern and eastern boundaries of Albemarle Corporation's
Silver Peak mine property. A successful 6-hole drilling program
carried out by Nevada Sunrise and Advantage Lithium during late
2016 and early 2017 encountered significant lithium-bearing brines
in classic Clayton Valley strata (see Nevada Sunrise news release
dated April 3, 2017).
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, lithium and cobalt mineral exploration projects
in the State of Nevada, USA.
Nevada Sunrise began acquisitions of Nevada lithium properties in September 2015, and currently owns a 75% interest
in the Neptune project (Resolve Ventures, TSXV: RSV, owns a 25%
interest in Neptune), and a 100% interest in the Aquarius project,
each located in the Clayton Valley area. The Company also holds
options to earn 100% interests in the Jackson Wash and Atlantis
lithium projects, and holds a 50% interest in the Gemini lithium
project, all located in playas proximal to the Clayton Valley. The
Company's Atlantis project is currently under option to American
Lithium Corp. (TSXV: LI).
For further information on other Nevada lithium projects operated by the
Company (Aquarius, Neptune, Jackson Wash and Gemini), including
location maps, please visit the Nevada Sunrise website at:
"Projects – Nevada Lithium":
http://www.nevadasunrise.ca/projects/nevadalithium/
National Instrument 43-101 compliant technical reports for the
Neptune and Jackson Wash projects can be accessed on the Nevada
Sunrise website at "Investors – Downloads".
The Company's two key gold assets include a 100% interest in the
Golden Arrow project near Tonopah,
currently the subject of an option earn-in transaction with Emgold
Mining Corporation (TSXV: EMR) and a 21% interest in a joint
venture with Liberty Gold Inc. (TSX: LGD, formerly Pilot Gold Inc.)
at Kinsley Mountain near Wendover,
with each of the properties subject to certain production
royalties.
In November 2017, Nevada Sunrise
announced an option to earn a 100% interest in the historic
Lovelock Cobalt Mine property, located approximately 100 miles (150
kilometres) east of Reno.
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 lithium,
potential quantity and/or grade of minerals, potential size of a
mineralized zone, potential expansion of mineralization, the timing
and results of future 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
transaction with Pure Energy, and to the interpretation and actual
results of any historical exploration at the Clayton NE, Triton,
Neptune, Jackson Wash, Aquarius and Gemini properties,, reliance on
technical information provided by third parties on any of our
exploration properties, including access to historical information
on the Clayton NE, Triton, Neptune, Jackson Wash, Aquarius and
Gemini properties, 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; 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 Nine Months ended
June 30, 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