Nevada Sunrise Metals updates drilling at Kinsley Mountain Gold Project, Nevada

Nevada Sunrise Metals Corp. [NEV-TSXV; NVSGF-OTC] reported that its joint venture partner, CopAur Minerals Inc. [CPAU-TSXV] has informed the company that the first two core holes of the 2023 drilling program at the Kinsley Mountain Gold Project totaling 607 metres (1,991 feet) have been completed in the Western Flank Zone (WFZ). Kinsley Mountain is located near Wendover, in Elko County, Nevada.

CopAur also reports that drilling is now underway on the third planned core hole KMR23-03 at the Kinsley Ridge IP geophysical target discovered in 2021. The Kinsley Ridge IP target is designed to test an undrilled area between the WFZ mineral resource and the past-producing Ridge Pit.

Core cutting and sampling of the first WFZ core hole is now complete, and samples will be analyzed at ALS Global in North Vancouver, BC, Canada for gold fire assays and multi-element analysis.

A second drill rig is now turning with the commencement of reverse circulation (RC) drilling, as part of the 3,500 metres (11,480 feet) combined RC and diamond core drilling program at Kinsley Mountain.

Near-surface oxide gold resource expansion RC drilling has now commenced at the Main Pit North target (8 holes for a total of 1,200 metres (3,936 feet) planned) designed to further delineate a 2020 shallow oxide gold intercept of 9.83 g/t gold over 7.6 metres (24.93 feet) in hole KMR20-030. High-grade oxide gold mineralization at Main Pit North occurs within 120 metres (393.6 feet) depth from surface and 75 metres (246 feet) outside the current resource pit shell representing a unique resource expansion opportunity given the high-grade and shallow depth of the mineralization being targeted.

Following completion of RC drilling at the Main Pit North, the drill will move to the Secret Spot target where drilling is planned to further explore at depth a new 2020 surface oxide gold discovery that yielded 1.77 g/t gold over 25.3 metres (82.98 feet) in hole KMD20-007B in the centre of a northwest trending gold-in-soil anomaly.

Kinsley Mountain hosts mineral resources comprising the high-grade sulphide WFZ and near-surface oxide resources of 418,000 indicated ounces of gold at 2.63 g/t gold, and 117,000 inferred ounces of gold at 1.51 g/t gold¹. Indicated resources are inclusive of 302,000 ounces averaging 6.11 g/t gold hosted within the Secret Canyon Shale at the WFZ.  Kinsley Mountain was an historical past producer that yielded 138,000 ounces of near-surface open pit oxide gold between 1995-1999.

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 the joint venture at the Kinsley Mountain Gold Project with CopAur Minerals. The company has elected not to contribute to the 2023 exploration program at Kinsley Mountain and expects to incur dilution of its participating interest in the joint venture to an approximate 19.0% interest.

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