Nevada Lithium Announces Proposed Extension of Warrant Expiry Date

About this update from Nevada Lithium Resources, Inc.

Vancouver, British Columbia--(Newsfile Corp. - June 26, 2026) - Nevada Lithium Resources Inc. (TSXV: NVLH) (the "Company" or "Nevada Lithium") announces that, subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company intends to amend the terms of an aggregate of 41,333,333 outstanding common share purchase warrants (the "Warrants") of the Company by extending the expiry date of the Warrants from July 7, 2026 to July 7, 2028 (the "Proposed Amendment"). The Warrants were issued on July 7, 2023 upon the automatic conversion of 41,333,333 subscription receipts (the "Subscription Receipts") of the Company issued under the Company's previously announced non-brokered private placement of Subscription Receipts at a price of $0.15 per Subscription Receipt, which was announced by news release dated June 20, 2023 (the "2023 Offering"). The Subscription Receipts converted into units of the Company (each comprised of one common share of the Company (a "Common Share") and one Warrant) upon satisfaction of the escrow release conditions, which occurred concurrently with the closing of the Company's plan of arrangement with Iconic Minerals Ltd. as announced by news release dated July 10, 2023. Each Warrant currently entitles the holder thereof to purchase one Common Share at an exercise price of $0.25 per share until July 7, 2026. Other than the proposed extension of the expiry date, all other terms and conditions of the Warrants will remain unchanged, including the exercise price of $0.25 per Common Share. The Proposed Amendment is subject to acceptance by the TSXV, and there can be no assurance that such acceptance will be obtained. None of the Warrants subject to the Proposed Amendment were issued to any agent, broker or finder as compensation for services. About Nevada Lithium Resources Inc. Nevada Lithium Resources Inc. is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire Lithium Project, located in Nye County, Nevada, where it holds a 100% interest. The Company recently filed a PEA on the Bonnie Claire Lithium Project. The PEA has an effective date of March 31, 2025 and presents a $6.829 billion after-tax Net Present Value ("NPV") at an 8% discount rate, based on $24,000/tonne Li2CO3, $950/tonne boric acid, together with a 32.3% after-tax Internal Rate of Return ("IRR"). Re...

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