Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) is pleased to provide the core assay results for its first diamond drill hole from the 2024 drill program at its 100% owned Bonnie Claire lithium project, located in Nye County, Nevada. BC2401C was drilled to 2,807 feet (856 m) and intersected the northeast continuation of the high-grade Lithium and Boron mineralized zone. The 518 ft (158 m) intercept is the thickest +5,000 ppm lithium interval drilled to date.

Nevada Lithium’s CEO, Stephen Rentschler, comments: “Results from the first hole of our 2024 drilling program (2401C) are tremendous, extending a zone of high-grade Lithium and Boron that remains open in three directions. Our final hole of the 2023 drilling program (2303C) set a very high bar for expectations, but the 2401C results have clearly exceeded them. The high-grade Lithium and Boron zone we first identified in hole 2203C now extends over 3,700 ft., (1137 m).

Only a few months ago, we were thrilled to report intercepts such as 4,221 ppm Lithium and 1.50% Boron over 560 feet (171m) in 2303C (See Company News Release dated May 22, 2024). Now we can report even higher grade Lithium and Boron results (5,105 ppm Lithium and 1.61% Boron over 518 feet (158m)) over very similar intercept lengths. 2401C is also the first hole where we have encountered greater than 100 continuous feet (30m) of mineralization averaging over 6,000 ppm Lithium”.

He continued, “We have recently finished our second hole at Bonnie Claire, 2402C, which is an in-fill hole designed to start the migration of our resources to measured and indicated status. We expect to receive assays from this hole in three to four weeks. The results from both 2401C and 2402C will then be included in an updated mineral resource estimate that will become part of an updated Preliminary Economic Assessment. While extremely happy to report these results to the market, we remain confident that this deposit has yet to reveal its best to us.”

Highlights:

• BC2401C tested the high-grade Lithium and Boron mineralized zone an additional 1,135 ft (346 m) to the N-E is the best hole drilled to date at Bonnie Claire.
• Deeper step-out drilling continues to find higher grade mineralization. The lower mineralized zone averages 3148 ppm Li and 0.96% B over 1500 ft (457 m), including a subinterval of 518 ft (158m) at 5,105 ppm Li and 1.61% B.   BC2401C is the first hole to contain over 100 continuous feet (30 meters) averaging over 6,000 ppm lithium.
• Hole BC2401C was a 1,135 ft (346m) step-out and further confirms the continuation of deep mineralization discovered in BC-2301C and confirmed in BC2303C. Six holes have now intersected strata with +3,000 ppm mineralization with the widest intercept of 1,500 feet (457 meters) in intersected in BC2401C, the furthest east intercept. It is anticipated that the lateral extent of this +3,000 ppm mineralized zone will expand through further drilling.
• The high-grade Lithium and Boron mineralized zone has now been traced 3,730 ft (1,137 m) in length and remains open in several directions.
• The upper mineralized zone averages 973 ppm over 420 ft. Work continues to evaluate the potential for open-pit mining of the upper mineralized zone at Bonnie Claire.

BC2401C’s 518 ft (158 m) of 5,105 ppm Lithium is the thickest intercept yet above 5,000 ppm Lithium and continues to indicate higher grades to the north and east. The same interval has a weighted average Boron assay of 1.61%, indicating the high-grade Boron mineralization also continues to the northeast. The highest assay in BC2401C is 6,880 ppm Lithium from 2,565 ft (782 m) to 2,585 ft (788 m).

In the upper mineralized zone, assays include 1,341 ppm Lithium over 217.5 ft (66 m) within a broader interval of 973 ppm Lithium over 420 ft (128 m) from 27 ft (8 m) depth.

Sample assays are announced herein for Hole BC2401C with results presented in Table¹

_{*Results presented in feet (ft).}

_{** Results presented in meters(m).}

¹_{Intervals presented are core length}

Results & Interpretation

Results from BC2401C confirm lateral continuity and the potential for additional high-grade Lithium and Boron intercepts of the deep mineralization first encountered in BC2301C and BC2303C. This lateral continuity is illustrated in cross-section A-A’ (Figure 1). BC2401C is the furthest hole northeast thus far and continues the trend of increasing grade in this direction.

Highlights include:

• BC2401C is the most mineralized hole drilled at Bonnie Claire to date, and the first to intersect greater than 100ft width of >6,000 ppm mineralization.
• This hole steps out from and extends the lower high-grade zone by some 1,135 ft (346m) and remains open in several directions.
• It can be anticipated that the lateral extent of the high-grade lower zone will expand from further step-out drilling.

Work continues towards an update of the resource and PEA incorporating this current round of drilling.

Figure 1: Cross-sectional grade shell comparison from drill holes BC2201C, BC2203C, BC2301C, BC2303C, and 2401C

Figure 2: Drill collar location map of holes BC2201C, BC2203C, BC2301C, BC2303C, and BC2401C, with section line A-A’

Quality Assurance / Quality Control

A Quality Assurance / Quality Control protocol following industry best practice was incorporated into the program by Nevada Lithium. Drilling was conducted by Major Drilling. Core was transported by Major 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% <2mm (CRU-31), sample split using Boyd Rotary splitter ((SPL-22Y), pulverizing up to 250g 85% <75 µm (PUL-31), crush entire sample (CRU-21), Pulp Login LOG-24) and a crusher wash (final crusher wash between samples (WSH-21).

Samples were shipped to ALS Vancouver laboratory in Burnaby BC, where the samples were analyzed using 48-element four-acid ICP-MS (ME-MS61) and B/Li N₂O₂ Fusion – ICP-AES high-grade (ME-ICP82b) procedures.

Standards, duplicates and blanks in the drill results to date have been approved as acceptable. The standards performed well (100% within 95% confidence limits for lithium and boron) as did duplicates (R2 0.9705) and all blanks (average 17ppm Li, <0.02%B).

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.

Bonnie Claire has a current NI 43-101 inferred mineral resource of 3,407 million tonnes (Mt) grading 1,013 ppm Li for 18.372 million tonnes (Mt) of contained lithium carbonate equivalent (LCE), at a cut-off grade of 700 ppm Li2

The PEA for Bonnie Claire indicates a Net Present Value (8%) of $1.5 Billion USD (after tax) using $13,400 USD per tonne LCE and after-tax IRR of 23.8%. With an LCE price of $30,000 USD per tonne, the Net Present Value (8%) of the Project is $5.9 Billion USD (after tax) and an IRR of 60.3%2.

QP Disclosure

The technical information in the above disclosure has been reviewed and approved by the designated Qualified Person under National Instrument 43-101, Dr. Jeff Wilson, PhD, P.Geo, Vice President of Exploration for Nevada Lithium. Dr. Wilson is not independent of Nevada Lithium, as he is Vice President of Exploration for Nevada Lithium.

²_{See Preliminary Economic Assessment NI 43-101 Technical Report on the Bonnie Claire Lithium Project, Nye Country, Nevada authored by Terre Lane, J. Todd Harvey, MBA, PhD, Hamid Samari, PhD and Rick Moritz (Effective date of August 20, 2021, and Issue date of February 25, 2022) (the “PEA” or the “Preliminary Economic Assessment“) as summarized in Nevada Lithium’s news release dated October 13, 2021, which are available on Nevada Lithium’s SEDAR+ profile at www.sedarplus.ca. Results of the Preliminary Economic Assessment represent forward-looking information. This economic assessment is, by definition, preliminary in nature and includes inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the Preliminary Economic Assessment will be realized. Mineral resources are not mineral reserves as they 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.}