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Nevada Sunrise Signs Definitive Agreement with Resolve Ventures for Neptune Lithium Property
Nevada Sunrise Signs Definitive Agreement with Resolve Ventures for Neptune Lithium Proper...
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":"\n\n\n\nNevada Sunrise Signs Definitive Agreement with Resolve Ventures for Neptune 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 with Resolve Ventures for Neptune Lithium Property\nCanada NewsWire\nVANCOUVER, May 4, 2016\n\n\n\n\n\n\nTSXV: NEV\n\n\n\nVANCOUVER, May 4, 2016 /CNW/ - Nevada Sunrise Gold Corporation (\"Nevada Sunrise\" or the \"Company\") (TSXV: NEV) is pleased to announce it has entered into a definitive joint venture and option agreement (the \"Definitive Agreement\") with Resolve Ventures Inc. (\"Resolve\") (TSXV: RSV) of Vancouver, BC, Canada, for Resolve to earn up to a 50% working interest in the Neptune lithium property (\"Neptune\", or the \"Property\"). Neptune consists of a block of 316 unpatented placer claims totaling approximately 6,320 acres (2,557 hectares) located in the Clayton Valley, Esmeralda County, Nevada, USA, approximately 10 miles (15 kilometres) south of the Silver Peak lithium mine, operated by Albemarle Corp. (NYSE: ALB). \n\nNeptune Option AgreementThe Definitive Agreement supersedes the interim agreement between the parties (see Nevada Sunrise news release dated March 4, 2016), and grants Resolve the right to earn up to a 50% interest in Neptune.  Nevada Sunrise holds an option to acquire a 100% interest in Neptune pursuant to an underlying option agreement with the owners of the Property, subject to a 3% gross overriding royalty (the \"Royalty\").  \n\nOption for Resolve to Earn a 25% InterestUnder the terms of the Definitive Agreement, Resolve can earn an initial 25% interest in Neptune by making cash and share payments to Nevada Sunrise, and funding exploration expenditures, on the following schedule (all funds in Canadian dollars):\n\n\n$50,000 cash upon execution of the interim agreement (paid); \n$50,000 cash upon delivery by Nevada Sunrise of a co-addressed National Instrument 43-101 (\"NI 43-101\") compliant Technical Report (the \"Report\") in a form acceptable to the TSX Venture Exchange (\"TSXV\"); \n200,000 shares of Resolve issued to Nevada Sunr...