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Nevada Sunrise Signs Agreement to Sell the Gemini Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Nevada Sunrise Metals Corporat...
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":"Nevada Sunrise Signs Agreement to Sell the Gemini Lithium ProjectVancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Nevada Sunrise Metals Corporation (TSXV: NEV) (OTC Pink: NVSGF) (\"Nevada Sunrise\" or the \"Company\") announced today that the Company has executed a purchase and sale option agreement (the \"Agreement\") with Dome Rock Resources, LLC (\"Dome Rock\", or the \"Purchaser\")), a private South Dakota company, whereby Dome Rock has agreed to purchase two hundred and twenty-three (223) unpatented lode claims (the \"Claims\") from the Company, which represent the core claims of the Gemini Lithium Project (\"Gemini\", or the \"Project\"). Gemini is located in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada. Following the closing of the Transaction, Nevada Sunrise will retain twenty-six (26) unpatented lode claims located immediately to the west of the Claims (see Figure 1).Details of the Gemini Option AgreementThe purchase price for a 100% acquisition of the Claims by Dome Rock is US$800,000 (approximately CAD$1.1 million) in cash, paid to the Company in accordance with the following schedule:An initial non-refundable US$100,000 deposit was paid within five business days of the execution of the Agreement (the \"Effective Date);A second and final payment (the \"Final Payment\") of US$700,000 to be paid within 120 days of the Effective Date. The timing of the Final Payment can be accelerated by the Purchaser;Nevada Sunrise will retain a 2.0% Net Smelter Returns royalty for metals and minerals produced from the Project, of which one-half (1.0%) can be purchased by Dome Rock for US$1.0 million.Figure 1. Gemini Lithium Project Area - Dome Rock Claims AcquisitionTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2799/263020_1b8267a444f7fa56_001full.jpgNevada Sunrise and Dome Rock have agreed to industry-standard default provisions should Dome Rock not meet the payment obligations listed above. The Agreement is subject to the acceptance of the TSX Venture Exchange. About Nevada SunriseNevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, copper and lithium exploration projects located in the State of Nevada, USA.Nevada Sunrise holds the rights to earn 100...