Nevada Dawn Closes First Tranche of Non-public Placement

Nevada Dawn Metals Corp. (“Nevada Dawn“, or the “Firm”) (TSXV: NEV) (OTC: NVSGF) is happy to announce additional outcomes of metallurgical testing carried out on lithium mineralization from its 100%-owned Gemini Lithium Venture (“Gemini”) positioned within the Lida Valley basin in Esmeralda County, Nevada . A considerably pure pattern of lithium carbonate equal (“LCE”) was produced from the leach options that realized a 90.2% lithium restoration price reported by the Firm in June 2023 (see Nevada Dawn information launch dated June 5, 2023 ).

Highlights of Gemini Metallurgical Testing

• A novel technique of small-scale column testing achieved a 90.2% lithium extraction price below the course of Willem Duyvesteyn , of Extractive Metallurgy Consultancy LLC, primarily based in Reno, Nevada . Mr. Duyvesteyn utilized the amenities of McClelland Laboratories Inc. (“McClelland”) in Sparks, Nevada for the metallurgical assessments.
• From the leach answer offered by the preliminary extraction, McClelland produced an LCE pattern that was near-100% lithium carbonate (Li ₂ CO ₃ );
• Subsequent X-ray diffraction evaluation (“XRD”) matched the usual sample of lithium carbonate (see Gemini LCE XRD profile comparability to acknowledged Li ₂ CO ₃ XRD profile under ¹ ).

“The manufacturing of a high-quality LCE pattern at this early stage in our undertaking timeline bodes effectively for Gemini,” mentioned Warren Stanyer , President and CEO of Nevada Dawn. “The constructive outcomes of our first-pass metallurgical work will present helpful info for the upcoming engineering research on the viability of the Gemini Venture.”

Concerning the 2022-2023 Gemini Drilling Program

In March and April 2022 , Nevada Dawn drilled two RC boreholes for a complete of two,020 ft (615.85 metres) in its maiden drilling program at Gemini. The drill websites had been positioned inside an outlined gravity low that hosts conductive layers detected by historic floor electromagnetic surveys. The outcomes from the primary two holes at Gemini represented a brand new discovery of lithium mineralization within the western Lida Valley, which was not traditionally drill examined for lithium (see Nevada Dawn information launch dated Could 18, 2022 ). In July 2022 , Nevada Dawn obtained a allow for an expanded drilling space from the Bureau of Land Administration and started Part 2 drilling at Gemini in October 2022 . Three extra boreholes had been accomplished from October 2022 to April 2023 , with every intersecting lithium mineralization (see Nevada Dawn information launch dated Could 24, 2023 ).

Nevada Dawn believes that the southern and western elements of the Gemini basin are extremely potential for extra lithium mineralization and that additional drilling may finally outline a big lithium useful resource. The Firm has engaged ABH Engineering Inc. of Surrey, BC , Canada to calculate a Nationwide Instrument 43-101-compliant useful resource estimate resulting in a Preliminary Financial Evaluation of the lithium-bearing zones at Gemini.

The 90.2% lithium extraction price achieved from the Gemini mineralization compares favourably with the common lithium extraction of 84% reported by Lithium Americas at its Thacker Move lithium undertaking ( Supply: Feasibility Research, Nationwide Instrument 43-101 Technical Report for the Thacker Move Venture, Humboldt County, Nevada , USA, by Roth, D., et al, dated November 2, 2022 .) As follow-up to the profitable end result of this small-scale column testing, Mr. Duyvesteyn has designed a bigger scale check involving 50 kilograms of Gemini clay mineralization, which started in late Could 2023 . The bigger check will make use of chosen higher-grade mineralization averaging roughly 2,000 ppm lithium.

For additional info on Gemini, together with maps and photographs click on right here

About Gemini

Gemini consists of 582 unpatented placer and lode claims positioned within the western Lida Valley, Esmeralda County , roughly 6 miles (10 kilometres) east of the city of Lida, Nevada . The Lida Valley is a flat, arid basin with an analogous geological setting to the better-known Clayton Valley basin the place Albemarle Company operates the Silver Peak lithium brine mine, which has operated repeatedly since 1966.

Gemini is located adjoining to the Gold Level Photo voltaic Vitality Zone, a BLM land reserve put aside for photo voltaic and wind energy era initiatives till 2033. Exploration at Gemini is complemented by the Firm’s 80.09 acre/ft/12 months water proper, a pre-requisite for the exploration and improvement of lithium initiatives in Nevada .

Sampling and Analytical QA/QC and Assertion of Certified Particular person

The scientific and technical info contained on this information launch has been reviewed and accepted by Willem Duyvesteyn , M.Sc., who’s a Certified Particular person for Nevada Dawn as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives . XRD evaluation was carried out by The Mineral Lab, of Golden, CO.

About Nevada Dawn

Nevada Dawn is a junior mineral exploration firm with a powerful technical workforce primarily based in Vancouver, BC , Canada , that holds pursuits in lithium, gold, and copper exploration initiatives positioned within the State of Nevada, USA .

Nevada Dawn owns 100% pursuits within the Gemini, Jackson Wash and Badlands lithium initiatives, with no relevant royalties, all of that are positioned within the Lida Valley in Esmeralda County, NV. The Firm owns Nevada water proper Allow 86863, additionally positioned within the Lida Valley basin, close to Lida, NV.

The Firm’s key gold asset is a 20.01% curiosity in a three way partnership on the Kinsley Mountain Gold Venture close to Wendover, NV with CopAur Minerals Inc. Kinsley Mountain is a Carlin-style gold undertaking internet hosting a Nationwide Instrument 43-101 compliant gold useful 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 starting from 0.2 to 2.0 g/t Au ¹ . The Firm has elected to not contribute to the 2023 exploration program at Kinsley Mountain and expects to incur dilution of its collaborating curiosity within the three way partnership to an approximate 19.0% curiosity.

Nevada Dawn has the appropriate to earn a 100% curiosity within the Coronado VMS Venture, positioned roughly 48 kilometers (30 miles) southeast of Winnemucca , NV. The Firm owns a 15% curiosity within the historic Lovelock Cobalt Mine and the Treasure Field copper properties, every positioned roughly 150 kilometers (100 miles) east of Reno, NV with World Vitality Metals Corp. (” GEMC “) holding an 85% collaborating curiosity. A transaction is in progress for GEMC to personal a 100% curiosity, scheduled to shut on or earlier than June 30, 2023 .

FORWARD LOOKING STATEMENTS

This launch might comprise ahead – wanting statements. Ahead wanting statements are statements that aren’t historic information and are typically, however not all the time, recognized by the phrases “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “initiatives”, “potential” and related expressions, or that occasions or situations “will”, “would”, “might”, “may” or “ought to” happen and embody disclosure of anticipated exploration actions. Though the Firm believes the expectations expressed in such ahead – wanting statements are primarily based on affordable assumptions, such statements usually are not ensures of future efficiency and precise outcomes might differ materially from these in ahead wanting statements. Ahead – wanting statements are primarily based on the beliefs, estimates and opinions of the Firm’s administration on the date such statements had been made. The Firm expressly disclaims any intention or obligation to replace or revise any ahead – wanting statements whether or not on account of new info, future occasions or in any other case.

Such elements embody, amongst others, dangers associated to the outcomes and outcomes of the Firm’s 2022-2023 exploration actions and future plans on the Gemini Lithium Venture; reliance on technical info offered by third events on any of our exploration properties; modifications in undertaking parameters as plans proceed to be refined; present financial situations; future costs of commodities; attainable variations in grade or metallurgical restoration charges; failure of kit or processes to function as anticipated; the failure of contracted events to carry out; labor disputes and different dangers of the mining trade; delays attributable to pandemic; delays in acquiring governmental approvals, financing or within the completion of exploration, in addition to these elements mentioned within the part entitled “Danger Elements” within the Firm’s Administration Dialogue and Evaluation for the Six Months ending March 31, 2023 , which is on the market below Firm’s SEDAR profile at www.sedar.com .

Though Nevada Dawn has tried to determine essential elements that would trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking info, there could also be different elements that trigger actions, occasions or outcomes to not be as anticipated, estimated or supposed. There may be no assurance that such info will show to be correct as precise outcomes and future occasions may differ materially from these anticipated in such statements. Nevada Dawn disclaims any intention or obligation to replace or revise any forward-looking info, whether or not on account of new info, future occasions or in any other case. Accordingly, readers mustn’t place undue reliance on forward-looking info.

Neither TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.

SOURCE Nevada Dawn Metals Company

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