Nevada Sunrise Metals Corp. announced that the Company has completed its Phase 2 drilling program at its 100%-owned Gemini Lithium Project located in the Lida Valley basin in Esmeralda County, Nevada. Three holes were completed in Phase 2 for a total of 5,310 feet (1,618.9 metres), bringing the total number of holes drilled by the Company at Gemini to five, totaling 7,330 feet (2,234.76 metres). The Gemini drilling program began in March 2022 and was successful in intersecting lithium mineralization in every hole, both in sediments and in groundwater. Summary of Borehole GEM23-05 GEM23-05, the final Phase 2 borehole, was completed to depth of 1,740 feet (530.49 metres) at a location approximately 0.52 miles (0.83 kilometres) south of borehole GEM22-02 and 1.04 miles (1.67 kilometres) southeast of borehole GEM23-04. After passing through Quaternary alluvium, the borehole intersected green clay from 440 to 540 feet (134.15 metres to 164.63 metres) followed by varying stratigraphies of green, brown and sandy clays and white ash tuffs until a rhyolite flow sequence was encountered at 1,575 feet (480.18 metres). The rhyolite sequence, predominantly dark gray to black volcanic glass (obsidian) flows with minor tuff and lithic tuff, may represent a basement layer unconformably overlying the much older Emigrant Formation basement unit that was intersected in hole GEM23-03, drilled to 1,620 feet (493.9 metres), thus providing further definition of the depth of the Gemini basin. Nevada Sunrise believes that the southern and western parts of the Gemini basin are highly prospective for additional lithium mineralization and that further drilling could eventually define a large lithium resource. The Company is planning to carry out a Phase 3 drilling program at Gemini later in 2023 to infill the current pattern of boreholes with the goal of producing a National Instrument 43-101-compliant resource estimate and a Preliminary Economic Assessment of the lithium-bearing zones. In addition to the lithium-fertile western area of Gemini, the 2016 and 2022 geophysical results indicate continuity of the conductive zones in the eastern part of the Project, where these untested zones appear to be mapping the lithium-bearing stratigraphies intersected in the Phase 1 and Phase 2 drilling. A total of 49 groundwater water samples and 172 sediment samples were collected from GEM23-05. Groundwater samples were collected intermittently at 20-foot intervals from a depth of 640 feet to a depth of 1,080 feet (195.12 to 329.27 metres), and then continuously from 1,120 feet to the bottom of the hole at 1,740 feet (341.46 to 530.49 metres). Sediment samples were collected at 20-foot (6.1 metre) intervals from the surface to a depth of 460 feet (140.24 metres) and then at 10-foot (3.05 metre) intervals from 460 feet (140.24 metres) to the bottom of the hole at 1,740 feet (530.49
metres). Geochemical analyses for sediment and groundwater samples from GEM23-05 are pending, and will be released following their receipt, compilation and interpretation.