Nevada Lithium Announces Robust Preliminary Economic Assessment, Reporting US$6.83 Billion After-Tax NPV, 32.3% After-Tax IRR and 2.8 Year Capital Payback for its High-Grade Bonnie Claire Lithium Project

About this update from Nevada Lithium Resources, Inc.

VANCOUVER, British Columbia - Nevada Lithium Resources Inc. (TSXV: NVLH; OTCQB: NVLHF; FSE: 87K) ('Nevada Lithium' or the 'Company') is pleased to announce the results of an updated Preliminary Economic Assessment ('PEA') on its 100% owned Bonnie Claire lithium project (the 'Project' or 'Bonnie Claire'), located in Nye County, Nevada. The PEA has been prepared by Global Resource Engineering Ltd., ('GRE') of Denver Colorado and Fluor Enterprises, Inc. ('Fluor') of Greenville, South Carolina, with technical input from Kemetco Research Inc. ('Kemetco') of Richmond, British Columbia, and Kinley Exploration LLC ('Kinley') of Overland Park, Kansas. The PEA has an effective date of March 31, 2025. The PEA incorporates a new Mineral Resource Estimate ('Mineral Resource Estimate'), with an effective date of March 31, 2025. The Company will file an updated technical report with respect to the Project, prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101') on its public SEDAR+ profile available at www.sedarplus.ca within 45 days of the date of this news release. Nevada Lithium's CEO, Stephen Rentschler, comments: 'We are pleased to release the results of an updated PEA that reflect the latest work on our lithium/boron project in Nevada. Over the last three years, with the discovery and expansion of the Project's high-grade lithium/boron lower zone, our technical teams have generated an expanded understanding of the potential value at Bonnie Claire. This understanding is reflected in the results of the PEA we have announced today. The PEA concludes that Bonnie Claire could produce more than 62,300 tonnes of lithium carbonate and 129,500 tonnes of boric acid annually, over a 61-year mine life. Bonnie Claire's investment metrics show a 32.3% after tax IRR, a capital payback of 2.8 years, and a capital intensity of $34,080/tonne lithium carbonate. A $1,973/tonne boric acid by-product credit generates a $6,800/tonne lithium carbonate operating cost.' He continued, 'Bonnie Claire has emerged as one of the world's largest and highest grade sedimentary hosted lithium and boron deposits, and remains open for expansion.1 The potential for even higher grades and volumes could positively impact the PEA economics already demonstrated. In addition, the Company has identified several areas for potential value enhancement, including ore beneficiation, additional critical minerals, and reagent pricing. New tax provisions in the recently passed US HR1 'One Big Beautiful Bill Act' could also potentially enhance the PEA investment metrics. We remain focused on creating shareholder value with the next steps in the development of this asset, located in one of the world's premier mining jurisdictions, Nevada, USA.' Cautionary Statement The PEA is preliminary in nature and is based on numerous assumptions, and some Inferred mineral resources are used in the economic analysis. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. No mineral reserves have been estimated. There is no guarantee that Inferred resources can be converted to Indicated or Measured resources and, as such, there is no guarantee that the Project economics described herein will be achieved. Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council (the 'CIM Definitions'). Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. Inferred Mineral Resources are that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Mining Methods The Preliminary Economic Assessment is based on the application of the HBHM method to a high-grade subset of the Lower Zone of the Bonnie Claire deposit. No mining method has been applied to the Upper Zone, due to moderate lithium grades, but this may be revisited in the future. Kinley was asked to establish a reasonable and economic mining strategy utilizing HBHM within Bonnie Claire lithium resource deposit to extract lithium in a continuous, efficient, cost effective and safe manner in the targeted higher-grade zone from 450 meters to 900 meters deep. HBHM technology is a surface-based mining method that uses a high-pressure water jet to disaggregate the mineralization and then evacuate the slurrified material back to surface, in this case via a hydraulic airlift method. Kinley's analysis took into consideration that the mineralization is highly plastic and with the assistance of jetting and pumping would likely flow. With this information, coupled with the significant cost of backfilling and then the consideration of subsidence, Kinley evaluated HBHM without backfilling and using directional drilling from a stable position. The current mining application considered would be to directionally drill a single large diameter production well centered under the targeted resource section to be mined. The well would be drilled with an 85-meter offset from the center of the target mine section. Construction of the production well would be to case the well to within 6 to 18 meters of the projected bottom of the resource to be mined. The bottom section would then be mined out to open an initial cavity. This directionally drilled well would be primarily vertical but turned under the center of the resource. Next a series of 'jet' wells would be drilled and cased to 450 meters in a mining pattern with engineered spacing to maximize the plastic flow condition of the mineralized material between the wells. These would be centered and patterned above the production well. These wells would be drilled vertically in a 85-meters-diameter section. The jet wells would be pilot drilled to total depth, then jetted to initiate caving into the production well for pumping to surface. A continuous hydraulic cutter, mounted on the intake of the production well, would assist in slurrifying the ore for pumping to surface. Mineral Processing and Metallurgical Testing From a metallurgical perspective, the Bonnie Claire deposit contains two distinct lithological zones, at different depths. The Lower Zone is characterized by high lithium and high boron grades. While the Upper Zone is characterized by moderate lithium and low boron grades. Metallurgical testing has been completed on both the Lower Zone and Upper Zone, but the PEA is based on processing and testing of mineralised material from the Lower Zone to optimise economic outcomes. Testing was conducted by Kemetco, under the direction of Fluor. Mineral processing is focused on whole ore agitated tank leaching using sulfuric acid. This method has demonstrated leach extractions exceeding 95% for lithium and boron. Typical operating conditions are 150 g/L residual free acid, a four-hour residence time, and a temperature of 90-degreeC. The acid addition required was 650-700 kg/t, driven partly by the high free acid requirement. Leach testing was performed on three different composite samples broadly representative of the Lower Zone. All samples demonstrated consistent leach extraction performance. Overall metallurgical recoveries were determined based on test results and circuit modeling with a fully integrated heat and mass balance model. Lithium recovery is estimated at 85% and boron recovery at 48%. Quality Assurance / Quality Control (QAQC) A quality assurance / quality control protocol following industry best practice was incorporated into the drill program by Nevada Lithium. Drilling was conducted by Major Drilling Group International Inc. ('Major Drilling'). Core was transported by Major Drilling from the collar location and received by Nevada Lithium staff at the Company storage facility in Beatty, NV. The facility is only accessible to Nevada Lithium staff and remains otherwise locked. Received core was logged and cut at the facility by Nevada Lithium staff. Logging and sampling included the systematic insertion of blanks, duplicates and certified reference material ('CRM') MEG Li.10.12 and OREAS 750 into sample batches at an insertion rate of approximately 10%. All core samples collected were transported by Company staff to ALS USA Inc.'s laboratory in Reno, NV. for sample preparation. Sample preparation comprises initial weighing (Code WEI-21), crushing QC Test (CRU-QC), pulverizing QC Test (PUL-QC), fine crushing at 70%(C) 2025 Electronic News Publishing, source ENP Newswire

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