Nevada Lithium Considerably Will increase the Dimension and Grade of Decrease Zone Inferred Mineral Assets at Bonnie Claire to 25.634 Mt LCE at 3,085 ppm Li. Experiences Maiden Indicated Assets of 5.167 Mt LCE at 3,519 ppm Li and a couple of.318 Mt B at 8,404 ppm Boron

Determine 1.1: Indirect view from southwest of block mannequin for Bonnie Claire generated by Leapfrog® Edge software program. Lithium ppm legend to proper.

The drill gap database used for the estimation included:

• 21 exploration drill holes, together with 8 reverse circulation holes and 11 vertical diamond core holes
• 9,159.54 meters of drilling in exploration drill holes
• 1,898 assay intervals in exploration drill holes
• Minimal grade of 18 ppm Li in exploration drill holes
• Most grade of seven,160 ppm Li in exploration drill holes

Cumulative likelihood plots of lithium and boron assay values didn’t exhibit grade breaks that will point out the presence of outlier knowledge, so the info weren’t capped or clipped. A selected gravity of 1.7 grams per cubic centimeter (g/cm3) for all lithological items, akin to different comparable lithium deposits. Drill gap assay values had been composited to intervals of equal size to make sure that the samples utilized in statistical evaluation and estimations had been equally weighted. Nearly all of samples had been collected at 6.096-meter (20-foot) intervals, with some samples collected at different intervals as much as a most of 12.192 meters (40 ft). Down-the-hole composites had been created from the Li and B assays inside higher claystone, decrease claystone, and decrease sandstone mineralized domains, with the next specs: 6.096-meter (20-foot) intervals, with something lower than 3.048 meters (10 ft) added to the earlier interval. This resulted in 1,313 Li composite intervals with Li grades from 40.37 ppm to five,764.48 ppm and 857 B composite intervals with B grades from 10 ppm to 14,658.8 ppm.

Certified Individual Terre Lane estimated Li and B grades into the block mannequin utilizing inverse distance to the second energy (“ID2”) and for every methodology, a single move was performed on the ellipsoid ranges (1,600 meters x 900 meters x 150 meters). All blocks with modeled grade had been coded as inferred assets. The search was restricted to a minimal of 4 samples and a most of 12 samples per block and a most of three samples per drill gap, thereby requiring knowledge from a minimal of two drill holes to populate a block. For statistical comparability, nearest neighbor (“NN”) and bizarre kriging (“OK”) fashions had been run to function comparisons with the estimated outcomes from the ID2 methodology. The estimate means for the worldwide inhabitants in addition to the means for the estimation domains are comparable, suggesting the ID2 estimate shouldn’t be biased or overestimating the grades. The discount in imply, coefficient of variation, and most from composites to the ID2 estimate reveals an acceptable quantity of smoothing. Swath plots and visible comparability of composites versus block mannequin values by part and plan present good correlation.

Mining Strategies
Hydraulic Borehole Mining of Decrease Zone

As disclosed of their April 16, 2024, information launch, Nevada Lithium contracted Kinley Exploration LLC (“Kinley”) to supply a preliminary analysis of HBHM for Bonnie Claire.

Kinley was requested to ascertain an affordable and financial mining technique using HBHM inside the Bonnie Claire Lithium useful resource deposit to extract lithium in a steady, environment friendly, value efficient and protected method within the focused greater grade zone from 1,500-2,800ft (457-853m) deep.

Kinley’s evaluation took into consideration that the mineralization is extremely plastic and with the help of jetting and pumping would seemingly stream. With this info, coupled with the numerous value of backfilling after which the consideration of subsidence, Kinley evaluated HBHM with out backfilling and utilizing directional drilling from a steady place.

The Kinley mannequin assumed the extremely cell mineralization inside the goal part would behave plastically and stream in a fluid state or caving situation to the mining system consumption. This depends on stream of the mobilized mineralization, accelerated by excessive stress jetting to a centralized properly, then pumped again to floor. GRE assumes a extra conservative restoration of 60% due to potential mass stream points that should be evaluated throughout take a look at mining.

Open Pit Mining of Higher Zone

Open pit mining of the Higher Zone at Bonnie Claire would seemingly use standard mining gear of hydraulic shovels and mining haul vans however may probably use scrapers. The soil is extraordinarily smooth and sometimes saturated. Because of this, pit wall slopes would should be comparatively shallow; for the Lerchs-Grossman pit train in Part 14, the GRE Certified Individual used 18° facet wall slopes. Further geotechnical testing would should be accomplished to find out steady facet wall slope angles, bench heights, and catch bench widths. Dewatering parts of the pit, freezing, or different types of stabilizing pit slopes and backside could also be required.

Mineral Processing and Metallurgical Testing
The mineral assemblage adjustments with depth. The Higher Zone typically reveals decrease grade lithium and boron and better calcite content material, whereas the Decrease Zone tends to be considerably higher-grade lithium and boron and decrease calcite content material. The ultimate mine design has not been accomplished, and the venture might have a number of choices: mine the higher portion, mine the decrease portion, or mine the whole deposit. Because of this, two distinct remedy choices have been evaluated.

For the Higher Zone, a thermal remedy was developed that concerned a sulfate calcination adopted by a sizzling water leach. This course of had the benefit of not solubilizing as many impurities, notably iron. Excessive lithium extractions (as much as 80%) had been achieved.

New drill samples from the Decrease Zone had been examined, and the calcination course of was not efficient as a result of low melting level of the boron minerals (searlesite). Subsequently, sulfuric acid leaching was evaluated to deal with the deeper deposit materials. The acid remedy demonstrated that the lithium host is quickly soluble in a robust sulfuric acid resolution, reaching extractions of roughly 85%. The standard downstream purification of the acid liquor had challenges for the higher sections of the deposit resulting from excessive iron solubilization.

Boron concentrations within the Decrease Zone warrant a separate boron restoration circuit. Boron is recovered from the leach liquor after main impurity elimination by way of ion change to supply a boric acid product.

High quality Assurance / High quality Management
A top quality assurance / high quality management protocol following business greatest apply was included into the drill program by Nevada Lithium. Drilling was performed by Main Drilling Group Worldwide Inc. (“Main Drilling”). Core was transported by Main Drilling from the collar location and obtained by Nevada Lithium workers on the Firm storage facility in Beatty, Nevada. The ability is simply accessible to Nevada Lithium workers and stays in any other case locked. Acquired core was logged and minimize on the facility by Nevada Lithium workers. Logging and sampling included the systematic insertion of blanks, duplicates and authorized reference materials (“CRM”) MEG Li.10.12 and OREAS 750 into pattern batches at an insertion charge of roughly 10%. All core samples collected had been transported by Firm workers to ALS USA Inc.’s laboratory in Reno, Nevada. for pattern preparation. Pattern preparation includes preliminary weighing (Code WEI-21), crushing high quality management take a look at (CRU-QC), pulverizing high quality management take a look at (PUL-QC), nice crushing at 70%

Information verification by GRE workers included: an on-site inspection of the Challenge web site and core, reverse circulation and chip tray storage services, verify sampling, geologic maps and reviews, and guide auditing of the Challenge drill gap database. GRE’s Certified Individuals have been concerned with the venture since 2018. They visited the positioning in 2018 after drilling, throughout drilling in 2020 and 2022. The outcomes from the positioning inspection, visible pattern inspection and verify sampling for every drilling marketing campaign are given beneath. Primarily based on the outcomes of GRE’s Certified Individuals verify of the sampling practices, verification of drill gap collars within the area, outcomes of the verify assay evaluation, visible examination of chosen core intervals, and the outcomes of each guide and mechanical database audit efforts, GRE considers the collar, lithology, and assay knowledge contained within the venture database to be moderately correct and appropriate to be used in estimating mineral assets.

The information verification of the drilling campaigns reveals that knowledge from the rotary mud drilling was suspect and never used within the useful resource estimate. Open pit mining and processing strategies, prices and infrastructure wants had been verified by Ms. Lane compared to different comparable sized open pit mines working within the western USA. Borehole mining prices had been developed by Kinley with coordination with GRE. Different value knowledge used within the report was sourced from the latest infomine value knowledge report. All prices used to find out cheap prospects for financial extraction had been verified and reviewed by GRE and had been assessed to be present and acceptable to be used.

Metallurgical testing was accomplished for Bonnie Claire by a well known industrial metallurgical laboratory. GRE reviewed all out there metallurgical reviews. GRE confirmed that the mineralization discovered on the Challenge is just like one other venture the place GRE has carried out different consulting work and finds that the take a look at work for Bonnie Claire reveals that the fabric behaves in the same method, particularly in lithium extraction and restoration and reagent consumption. Given the similarities of the Bonnie Claire materials to different comparable tasks, this gives a great foundation for benchmarking the metallurgical take a look at. The work seems to be professionally accomplished and is properly documented and is appropriate for estimation of lithium extraction and restoration calculations within the Mineral Useful resource Estimate.

About Nevada Lithium Assets Inc.

Nevada Lithium Assets Inc. is a mineral exploration and improvement firm centered on shareholder worth creation by means of its core asset, the Bonnie Claire Lithium Challenge, positioned in Nye County, Nevada, the place it holds a 100% curiosity.

For additional info on Nevada Lithium and to subscribe for updates about Nevada Lithium, please go to its web site at: https://nevadalithium.com/

Certified Individual Disclosure

The technical info within the above disclosure has been reviewed and accepted by the designated Certified Individual beneath NI 43-101, Dr. Jeff Wilson, PhD, P.Geo, Vice President of Exploration for Nevada Lithium. Dr. Wilson shouldn’t be unbiased of Nevada Lithium, as he’s Vice President of Exploration for Nevada Lithium.

The technical info within the above disclosure has additionally been reviewed and accepted by Terre Lane, a ‘Certified Individual’ as outlined beneath NI 43-101. Ms. Lane is Principal Mining Engineer with GRE and thought of to be “unbiased” of the Firm beneath Part 1.5 of NI 43-101.

On behalf of the Board of Administrators of Nevada Lithium Assets Inc.
“Stephen Rentschler”
Stephen Rentschler, CEO

For additional info, please contact:
Nevada Lithium Assets Inc.
Stephen Rentschler
CEO and Director
Cellphone: (647) 254-9795
E-mail: sr@nevadalithium.com

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The Canadian Securities Trade doesn’t settle for accountability for the adequacy or accuracy of this information launch. The Canadian Securities Trade has not accepted or disapproved of the contents of this information launch.

Cautionary Notice Concerning Ahead-Wanting Statements

This information launch incorporates forward-looking statements and forward-looking info (collectively, “forward-looking statements”) inside the which means of relevant Canadian securities laws. These statements relate to issues that establish future occasions or future efficiency. Typically, however not at all times, ahead trying info could be recognized by phrases comparable to “may”, “professional forma”, “plans”, “expects”, “might”, “will”, “ought to”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such phrases together with destructive variations thereof, and phrases that check with sure actions, occasions or outcomes which will, may, would, would possibly or will happen or be taken or achieved.

The forward-looking statements contained herein embody, however usually are not restricted to, statements relating to: the efficiency of the Challenge; outcomes of the 2023 Exploration and Growth Plan (together with, with out limitation, its mineral assets, present claims and its capacity to make the most of world lithium wants); any plans following the Mineral Useful resource Estimate; the preparation of an up to date PEA in 2025; and the efficiency of lithium as a commodity, together with the sustained lithium demand and costs.

In making the ahead trying statements on this information launch, Nevada Lithium has utilized a number of materials assumptions, together with with out limitation: market fundamentals that lead to sustained lithium demand and costs; the receipt of any vital permits, licenses and regulatory approvals in reference to the long run improvement of Bonnie Claire in a well timed method; the provision of financing on appropriate phrases for the event; building and continued operation of Bonnie Claire; the Challenge containing mineral assets; and Nevada Lithium’s capacity to adjust to all relevant rules and legal guidelines, together with environmental, well being and security legal guidelines.

Buyers are cautioned that forward-looking statements usually are not primarily based on historic details however as an alternative replicate Nevada Lithium’s administration’s expectations, estimates or projections regarding future outcomes or occasions primarily based on the opinions, assumptions and estimates of managements thought of cheap on the date the statements are made. Though Nevada Lithium believes that the expectations mirrored in such forward- trying statements are cheap, such info includes dangers and uncertainties, and beneath reliance shouldn’t be positioned on such info, as unknown or unpredictable components may have materials hostile results on future outcomes, efficiency or achievements expressed or implied by Nevada Lithium. Among the many key threat components that might trigger precise outcomes to vary materially from these projected within the forward- trying statements are the next: working and technical difficulties in reference to mineral exploration and improvement and mine improvement actions on the Challenge; estimation or realization of mineral reserves and mineral assets, necessities for added capital; future costs of valuable metals and lithium; adjustments usually financial, enterprise and political circumstances, together with adjustments within the monetary markets and within the demand and market worth for commodities; potential variations in ore grade or restoration charges; potential failures of crops, gear or processes to function as anticipated; accidents, labour disputes and different dangers of the mining business; delays or the lack of Nevada Lithium to acquire any vital approvals, permits, consents or authorizations, financing or different deliberate actions; adjustments in legal guidelines, rules and insurance policies affecting mining operations; forex fluctuations, title disputes or claims limitations on insurance coverage protection and the timing and potential final result of pending litigation, environmental points and liabilities; dangers referring to epidemics or pandemics comparable to COVID-19, together with the influence of COVID-19 on Nevada Lithium’s enterprise; in addition to these components mentioned beneath the heading “Threat Components” in Nevada Lithium’s newest Administration Dialogue and Evaluation and different filings of Nevada Lithium filed with the Canadian securities authorities, copies of which could be discovered beneath Nevada Lithium’s profile on the SEDAR+ at www.sedarplus.ca.

Ought to a number of of those dangers or uncertainties materialized, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes might differ materially from these described herein as supposed, deliberate, anticipated, believed, estimated or anticipated. Though Nevada Lithium has tried to establish necessary dangers, uncertainties and components which may trigger precise outcomes to vary materially, there could also be others that trigger outcomes to not be as anticipated, estimated or supposed. Nevada Lithium doesn’t intend, and doesn’t assume any obligation, to replace this forward-looking info besides as in any other case required by relevant legislation.

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