Canex closes C$2.5 million equity financing and welcomes strategic investor Michael Gentile, CFA

In connection with the closing of the Offering, the Company paid a finder’s fee of 7% cash and 7% finder’s warrants (each a “Finder’s Warrant”), consisting in cash for $27,965 and the issuance of 139,825 finder’s warrants to the following intermediaries: Haywood Securities Inc. – 87,325 finder’s warrants and $17,465 cash; PI Financial Corp. – 43,750 warrants and $8,750 cash; Canaccord Genuity Corp. – 5,250 warrants and $1,050 cash; Red Cloud Securities Inc. – 3,500 warrants and $700 cash. Each Finder’s Warrant will entitle its holder to purchase one Nevada Sunrise share at a price of $0.20 per Share, exercisable during a period expiring two years after the closing date of the Offer.

All securities issued under the Offer are subject to a hold period of four months plus one day from the closing date, the hold period expiring on October 30, 2022 , a period during which the securities cannot be traded. The securities described in this document have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in United States unless registered under the Act or unless an exemption from registration is available.

Proceeds from the placement will be used to fund exploration of the Company’s lithium, precious metals, cobalt and copper properties in Nevada and for general working capital.

About the Nevada Sunrise

Nevada Sunrise is a junior mining exploration company with a strong technical team based in Vancouver, BC , Canada which holds interests in gold, copper, cobalt and lithium exploration projects located in the State of Nevada, United States .

Nevada Sunrise owns 100% interest in Gemini and Jackson wash lithium projects, both located in the Lida Valley in Esmeralda County, NV. The Company holds Nevada Water Rights License 86863 for 80.09 ac/ft/yr, also located in the Lida Valley Basin.

The Company’s principal gold asset is a 20.01% interest in a joint venture with Copaur Minerals Inc. at the Kinsley Mountain Gold Project near Wendover, Nev. Mount Kinsley 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 grading an average of 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 Kinsley Project Technical Report, Elko County, Nevada United States, dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin doctorate and Gary L. Simmons MMSA and filed under the issuer profile of New Placer Dome Gold Corp. on SEDAR ( www.sedar.com ).

Nevada Sunrise has the right to acquire a 100% interest in the Coronado VMS project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV. The Company holds a 15% interest in the historic Lovelock Cobalt mine and Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, Nevada with Global Energy Metals Corp. holding an 85% interest.

FORWARD-LOOKING STATEMENTS

This press release may contain before research statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”. , “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “might” or “should” occur and include disclosure of activities planned exploration. Although the Company believes that the expectations expressed in this information forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Forward forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management as of the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

These factors include, among others, risks related to the Company’s exploration activities and future plans for its mineral exploration projects; reliance on technical information provided by third parties about any of our exploration projects; changes in project parameters as plans continue to be refined; current economic conditions; future commodity prices; possible variations in grade or recovery rates; failure of equipment or processes to perform as intended; non-performance by contracting parties; labor disputes and other hazards of the mining industry; delays due to the pandemic; delays in obtaining governmental approvals, financing or in completing exploration, as well as the factors discussed in the section titled “Risk Factors” in the Company’s Management’s Discussion and Analysis for the six months ended March, 31st 2022, which is available under the Company’s SEDAR profile at www.sedar.com .

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results are not those anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in United States or for the account or benefit of any US Person.

SOURCENevada Sunrise Gold Corporation

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Carol M. Barragan