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Nevada Sunrise Signs Term Sheet to Sell Kinsley Mountain Interest

Nevada Sunrise Metals Corp. (TSXV: NEV) (OTCBB: NVSGF) announced today that it has signed a non-binding, indicative term sheet with CopAur Minerals Inc. for CopAur to acquire Nevada Sunrise’s remaining ownership interest in the Kinsley Mountain Gold Project in Nevada.

If the transaction is completed, CopAur will own 100% of Kinsley Mountain.

Nevada Sunrise’s Agreement with CopAur

The indicative term sheet outlines CopAur acquiring Nevada Sunrise’s 18.74% ownership interest in Kinsley Mountain. In return, CopAur will pay CDN$475,000 and issue 1,000,000 common shares of CopAur. These shares would be deposited in escrow and released in quarterly releases of 250,000 shares after a four-month statutory hold period.

The terms are subject to negotiating and completing a definitive agreement acceptable to both Nevada Sunrise and CopAur. The transaction requires certain conditions, including CopAur arranging a minimum financing of CDN$475,000, completing satisfactory due diligence, and fulfilling various closing conditions, including acceptance by the TSX Venture Exchange.

About Kinsley Mountain

Kinsley Mountain was a historical producer yielding 138,000 ounces of near-surface, open-pit oxide gold between 1995 and 1999. It currently hosts a compliant National Instrument 43-101 mineral resource. A technical report on Kinsley Mountain, titled “Technical Report of the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A.”, dated June 21, 2021, with an effective date of May 5, 2021, is available for review under New Placer Dome Gold Corp.’s issuer profile.

About Nevada Sunrise Metals Corp.

Nevada Sunrise is a junior mineral exploration company based in Vancouver, BC, Canada. It holds interests in lithium, gold, and copper exploration projects in Nevada, USA.

The company owns 100% interests in the Gemini, Jackson Wash, and Badlands lithium projects, all located in the Lida Valley in Esmeralda County, NV. It also owns the Pelican lithium project in Saskatchewan, Canada, and Nevada Water Right Permit 86863, located near Gold Point, NV.

Nevada Sunrise has the right to earn a 100% interest in the Coronado Copper Project, about 48 kilometers southeast of Winnemucca, NV. The company owns an 18.74% interest in the Kinsley Mountain Gold Project near Wendover, NV, which is now the subject of a potential transaction with CopAur.

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