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Nevada Sunrise Receives US$300,000 for the Sale of Non-Core Claims at the Gemini Lithium Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - Nevada Sunrise Metals Corpora...
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":"Nevada Sunrise Receives US$300,000 for the Sale of Non-Core Claims at the Gemini Lithium Project, NevadaVancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - Nevada Sunrise Metals Corporation (TSXV: NEV) (OTC Pink: NVSGF) (\"Nevada Sunrise\" or the \"Company\") is pleased to announce that the Company has completed a purchase and sale agreement (the \"Transaction\") with Dome Rock Resources, LLC (\"Dome Rock\"), a private South Dakota company, whereby Dome Rock has purchased fifty-seven (57) non-core claims (the \"Claims\") from the Company. The Claims are located along the eastern boundary of the Gemini Lithium Project (\"Gemini\", or the \"Project\") in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada. Following the closing the Transaction, Nevada Sunrise staked an additional thirty-three (33) claims in the Lida Valley to the north of the Gemini claims.The western boundary of the Claims sold in the Transaction is approximately 2 kilometres (1.33 miles) to the east of the Company's National Instrument 43-101-compliant lithium resource area calculated in 2024, representing approximately 20% of the total Project area (see Figure 1 below). The purchase price for the acquisition of the Claims by Dome Rock was US$300,000 in cash, which has been received in full by Nevada Sunrise. Figure 1. Gemini Lithium Project Area Showing Dome Rock Claims AcquisitionTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2799/237370_nevadasunrise1.jpgIn late November 2024, Dome Rock paid a non-refundable cash deposit of US$25,000 and entered into a 30-day period in which it carried out customary due diligence for a transaction of this nature. Following completion of due diligence by Dome Rock, the Transaction closed in late December 2024. A finder's fee of 5.0% cash totaling US$15,000 was paid to an arm's-length party for making the introduction to Dome Rock that led to a successful closing of the Transaction.About GeminiGemini consists of 291 unpatented mineral claims located in the western Lida Valley, Esmeralda County, approximately 6 miles (10 kilometres) east of the town of Lida, and 3 miles (4.5 kilometres) north of Gold Point, Nevada. The Lida Valley is a flat, arid basin with a similar geological setting to the better-known Clayton Valley basin where Albemarle Corp...