Nevada Sunrise Announces $250,000 Private Placement

Nevada Sunrise Announces $250,000 Private Placement

Canada NewsWire

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TSX Venture Exchange: NEV

VANCOUVER, BC , Jan. 29, 2021 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce a private placement (the "Offering") of up to $250,000 , consisting of 2,500,000 units (the "Units") at a price of $0.10 per Unit, each Unit consisting of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant").  Each Warrant will entitle the holder to purchase one common share at a price of $0.16 for a period expiring two years following the closing date of the Offering.

Finder's fees may be payable to parties at arm's length to Nevada Sunrise that have introduced the Company to certain subscribers participating in the Offering. Proceeds of the Offering will be used for exploration on the Company's mineral properties and general working capital. The Offering is subject to acceptance of the TSX Venture Exchange.

"Nevada Sunrise is well-positioned to take advantage of the positive momentum in gold and lithium markets," said Warren Stanyer , President and CEO of the Company. "We expect more drill results from the Kinsley Mountain Gold Project in early 2021 and are pleased to receive renewed interest in our Nevada lithium projects that have permitted water rights."

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% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover where an extensive drilling program concluded in late November 2020 .

Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 ("N.I. 43-101") compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 grams/tonne ("g/t") gold (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t gold (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t gold 1 .

1 Technical Report and updated estimate of mineral resources on the Kinsley Project, Elko County, Nevada , U.S.A., effective January 15, 2020 and prepared by Michael M. Gustin , Ph.D., CPG, Moira Smith , Ph.D., P.Geo. and Gary L. Simmons , MMSA 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 property, 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 right Permit 86863 in the Lida Valley basin.

FORWARD LOOKING STATEMENTS
This 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.

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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