Nevada Sunrise Metals Corporation (TSXV: NEV) (OTC: NVSGF) announced today that it has signed a binding purchase and sale agreement with Global Energy Metals Corp. (TSX-V: GEMC) for GEMC to acquire the Company’s remaining 15% interest in the Lovelock Cobalt Mine and the Treasure Box mineral properties in Nevada.

Upon closing of the Transaction, consideration for the purchase of the Properties will be paid to Nevada Sunrise in the form of 2,500,000 common shares of GEMC. Closing is planned to occur on or before June 30, 2023, subject to TSX Venture Exchange approval and the satisfaction of certain other conditions. In addition to a regulatory 4-month hold period, Nevada Sunrise has agreed to additional voluntary hold periods with respect to the Consideration Shares, which will vest in four tranches over a 12-month period from their date of issuance.

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, copper and lithium exploration projects located in the State of Nevada, USA.

Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV. The Company owns Nevada water right Permit 86863, also located in the Lida Valley basin, near Lida, NV.

The Company’s key gold asset is a 20.01% interest in a joint venture at the Kinsley Mountain Gold Project near Wendover, NV with Copaur Minerals Inc.  Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au ¹.

¹ Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin, Ph.D., and Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.’s Issuer Profile on SEDAR (www.sedar.com).

Nevada Sunrise has the right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.