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Nevada Sunrise Signs Definitive Agreement For Atlantis Lithium Property
Nevada Sunrise Signs Definitive Agreement For Atlantis Lithium Property Nevada Sun...
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":"\n\n\n\nNevada Sunrise Signs Definitive Agreement For Atlantis Lithium Property\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNevada Sunrise Signs Definitive Agreement For Atlantis Lithium Property\nCanada NewsWire\nVANCOUVER, Feb. 18, 2016\n\n\n\n\n\n\nTSXV: NEV\n\n\n\nVANCOUVER, Feb. 18, 2016 /CNW/ - Nevada Sunrise Gold Corporation (\"Nevada Sunrise\" or the \"Company\") (TSXV: NEV) is pleased to announce it has entered into a definitive agreement for an option to purchase a 100% interest in the Atlantis lithium property (\"Atlantis\", or the \"Property\") located in the Fish Lake Valley in Esmeralda County, Nevada.  Atlantis is comprised of unpatented placer claims totaling 2,900 acres (1,174 hectares) located approximately 25 miles (38 kilometres) northwest of the Silver Peak lithium brine mine operated by Albemarle Corporation (ALB: NYSE), the only operating lithium mine in North America.\n\nDetails of the Option Agreement for Atlantis For an option to purchase a 100% interest in Atlantis, Nevada Sunrise has agreed to pay a total of 500,000 common shares of the Company to the vendor upon signing the definitive agreement (the \"Agreement\") for the Property, and on subsequent anniversaries of the Agreement, as follows:\n\n\nOn signing the Agreement: 100,000 common shares \n1st Anniversary: 150,000 common shares \n2nd Anniversary: 250,000 common shares\n\nA 1.5 mile (2.25 kilometer) area of interest applies to the Property. Atlantis is subject to a 3.0% gross overriding royalty (\"GOR\"). On the 3rd anniversary of the signing of the Agreement for Atlantis, Nevada Sunrise would have the right to purchase 1.0% of the GOR for US$1.0 million. \n\nThe Agreement for Atlantis is subject to acceptance by the TSX Venture Exchange. \n\nFor further information on Atlantis including a map showing its location, see the Company's website under \"Projects-Nevada Lithium\" at: http://www.nevadasunrise.ca/projects/nevadalithium/\n\nAbout Atlantis Nevada Sunrise has adopted an exploration strategy targeting desert basins, or playas, that exhibit similar geological and geophysica...