Mr. Warren Stanyer reports

NEVADA SUNRISE ENTERS INTO EARN-IN OPTION AGREEMENT FOR THE FIVEMILE GOLD PROJECT, CORTEZ MINING DISTRICT, NEVADA

Nevada Sunrise Metals Corp. has signed an earn-in option agreement whereby the company can earn an up-to-79-per-cent working interest in the Fivemile gold project located within the Battle Mountain-Eureka-Cortez gold trend in Lander county, Nevada. Fivemile consists of 266 unpatented mineral claims on Bureau of Land Management land totalling approximately 5,496 acres (2,224 hectares) situated approximately five miles (eight kilometres) southwest of the Fourmile gold deposit owned 100 per cent by Barrick Mining Corp. and four miles (6.4 kilometres) south-southwest of the Cortez Hills mine operated by Nevada Gold Mines LLC, a joint venture between Barrick (61.5 per cent) and Newmont Mining Corp. (38.5 per cent).

The exploration targets at Fivemile are twofold: epithermal gold/silver mineralization related to the Caetano caldera, possibly superimposed on an earlier Carlin-type gold deposit(s), similar to the Fourmile, Goldrush and Cortez Hills deposits.

"Fivemile is an excellent greenfields exploration opportunity for Nevada Sunrise in one of the world's richest gold districts," said Warren Stanyer, president and chief executive officer of the company. "The lessons learned from the 2015 discovery of the high-grade Fourmile deposit as it steadily developed to its current status as the premier Nevada gold deposit has galvanized a new exploration model for deeper and higher-grade Carlin-type gold deposits. The hunt by several major and junior companies for another Fourmile-type deposit is on. Nevada Sunrise is eager to begin exploration at Fivemile, which contains favourable interpreted geological, geophysical and structural features similar to those observed at the Fourmile deposit -- the greatest gold discovery made in Nevada in generations."

About Fivemile

The majority of the Fivemile claims, staked in 2025 and 2026, cover an area of alluvium-covered shallow pediment, referred to by the company as Fivemile Flats, which have no outcrop, inhibiting previous surface exploration. The Fivemile gold exploration target was generated by reprocessing publicly available data collected by the U.S. Geological Survey and integrating those data with a proprietary geological interpretation of structural features that are visible in the geophysical, geological and satellite imagery data. The geophysical signature of Fivemile is observed as the conjunction of a gravity-high anomaly and a magnetic-low anomaly. The gravity high at Fivemile mirrors a gravity high associated with the Fourmile and Goldrush deposits located five miles to the northeast.

The presence of the Fivemile gravity high suggests a shallow dense rock body, possibly a rhyolite dome or a bedrock high, which could be Lower Plate carbonate rocks, the main host for Carlin-type gold deposits in the Cortez district. A magnetic low anomaly in this setting commonly indicates hydrothermal destruction of magnetite in igneous rocks. Coincident magnetic lows and gravity highs are the hallmark of concealed yet shallow epithermal gold-silver deposits, and, in this location, such volcanic-associated mineralization may have overprinted an earlier Carlin-type gold deposit.

Fivemile exploration targets

The primary exploration target at Fivemile is situated along the western border of the Cortez apical graben that formed in Eocene time in the core of a south-plunging anti-cline and hosts the Cortez Hills and Cortez deposits, respectively, located four to 5.5 miles (6.4 to 8.3 kilometres) to the north. Fivemile lies in the same relative position as the Fourmile and Goldrush deposits, which are located along the western border of a larger Eocene-Miocene apical graben in the core of a larger north-northwest/south-southeast-trending regional anti-cline. The centre of this apical graben localized the Northern Nevada rift zone in mid-Miocene time. Miocene lake sediments were deposited in this graben.

From geophysical and geological data, the company has inferred a regional northeast-southwest-trending fault that passes through the Fourmile-Goldrush and Toiyabe mine areas and the Fivemile area. This fault, herein referred to as the Fourmile fault, was active in Eocene through Miocene time and controlled gold mineralization where it intersected north-south-trending graben normal faults. In the Fivemile area, this fault probably localized part of the Caetano caldera ring fracture system and also intersected and offset north-south Cortez graben faults in the vicinity of the geophysical anomalies.

Initial exploration plans for Fivemile include:

• High-resolution gravity and magnetic surveys to better define the conjunction of the gravity-high and the magnetic-low anomalies identified from the regional USGS geophysical surveys;
• Ionic Leach soil surveys to detect areas that may be anomalous for gold and other pathfinder elements; case studies of Ionic Leach soil sampling have been successful in mineral exploration for detecting buried mineralization, particularly in challenging environments with cover, as seen in the Kwanika project in British Columbia, Canada, and the Sams Creek project in New Zealand; these case studies show that Ionic Leach is effective for identifying blind mineralization, even through thick cover, by extracting the mobile, loosely bound metal ions present in soil and sediment.

About the Fourmile and the Cortez complex gold deposits

The current mineral resource estimates at Fourmile are reported as:

• Indicated mineral resource estimated at 2.6 million ounces of gold at an average grade of 17.59 grams per tonne gold contained within 4.6 million tonnes; and
• Inferred mineral resource estimated at 13.0 million ounces of gold at an average grade of 16.9 g/t gold contained within 25.0 million tonnes.

The Cortez complex includes significant gold deposits such as Pipeline, Crossroads, Cortez Pits, Gold Acres, Robertson, Goldrush and Cortez Hills, which collectively contain mineral resource estimates reported in both underground and surface deposits as:

• Measured mineral resources estimated at 670,000 ounces of gold at an average grade of 4.88 grams per tonne gold contained within 4.3 million tonnes;
• Indicated mineral resources estimated at 18.0 million ounces of gold at an average grade of 2.71 g/t gold contained within 200 million tonnes; and
• Inferred mineral resources estimated at 6.4 million ounces of gold at an average grade of 1.6 g/t gold contained within 120.0 million tonnes.

Details of the Fivemile option acquisition

Nevada Sunrise can earn a 79-per-cent interest in Fivemile from American Metals Exploration Corp., a private Nevada company at arm's length to Nevada Sunrise, in three stages over four years as follows.

First option

Nevada Sunrise can acquire a 51-per-cent interest in the property by incurring an aggregate of $1-million (U.S.) of expenditures on the property by May 31, 2028, of which a minimum of $300,000 (U.S.) of expenditures must be completed by May 31, 2027. The first option expenditure includes a cash payment to Ammetex of $55,500 (U.S.) payable within three business days following execution of this agreement, an additional cash payment of $30,000 (U.S.) to Ammetex on or before Aug. 15, 2026, and an additional cash payment of $60,000 (U.S.) to Ammetex on or before Aug. 15, 2027.

Upon the company meeting the first option expenditure requirement, a joint venture will be negotiated between Nevada Sunrise and Ammetex, and a joint venture company will be formed as soon as reasonably practicable.

Second option

Upon its exercise of the first option, the company will have the option to acquire an additional 14-per-cent interest for a 65-per-cent interest in the joint venture. To exercise the second option, the company shall incur an additional $850,000 (U.S.) of expenditures no later than May 31, 2029. The second option expenditure requirement shall include a cash payment to the Ammetex of $80,000 (U.S.) on or before Aug. 15, 2029.

The second option expenditure requirement will be incurred at the company's sole discretion and if the Nevada Sunrise does not complete the second option expenditure requirement or provides notice that it does not intend to proceed with the second option, then the second option will terminate, with the company holding a 51-per-cent interest in the joint venture.

Third option

Upon the exercise of the second option, the company will have the option to acquire an additional undivided 14-per-cent interest for a 79-per-cent interest in the property. To exercise the third option, the company shall incur an additional $850,000 (U.S.) of expenditures no later than May 31, 2030. The third option expenditure requirement shall include a cash payment to Ammetex of $120,000 (U.S.) payable by Aug. 15, 2030.

If Nevada Sunrise does not complete the third option expenditure requirement or provides notice that it does not intend to proceed with the third option, then the third option will terminate, with the company holding a 65-per-cent interest in the joint venture.

If the company incurs expenditures in excess of either the first option expenditure requirement, then the excess will be credited to: (i) the second option expenditure requirement; (ii) if also in excess of the second option expenditure requirement, the third option expenditure requirement; and (iii) if also in excess of the third option expenditure requirement, the company's proportionate share of joint venture expenditures.

Joint venture

Ammetex will be the operator for all work conducted on the joint venture, and may designate contractors or consultants to perform work at its sole discretion until Nevada Sunrise has satisfied its obligations under the terms of the first, second and third options, after which operatorship will be assumed by the majority shareholder in the joint venture.

At the time of the formation of the joint venture and until the company completes an aggregate of $2.7-million (U.S.) in expenditures made during the option periods, Ammetex shall not be required to contribute to exploration expenditures. If the company does not meet its expenditure obligations for the second and third option periods and Ammetex wishes to make expenditures on the property, the company's 51-per-cent earned interest in the joint venture will be adjusted in accordance with a standard dilution formula.

Upon completion of its expenditure requirements during the first, second and third option periods, the company shall hold a 79-per-cent interest in the joint venture, and Ammetex will be deemed to hold a 21-per-cent interest in the joint venture, and, thereafter, each party will be required to contribute to future expenditures in accordance with their pro rata interest or be diluted in accordance with a standard dilution formula.

Each party's interest in the joint venture is subject to a mutual right of first refusal.

Contingent performance payment

Nevada Sunrise has agreed to file a technical report prepared in accordance with National Instrument 43-101 within five years of the effective date on SEDAR+. If that technical report discloses a mineral resource estimate for the property of at least 500,000 ounces of gold equivalent, calculated by way of the industry standard formula for combined gold and silver resources, in all categories of mineral resources, the company or its assigns will pay a $1.0-million (U.S.) cash payment to Ammetex within 90 days of such filing. This payment will only be payable in connection with the first time the company files a technical report within five years of the effective date that includes a qualifying mineral resource estimate, and not for any subsequent update of such resource estimate.

Net smelter return royalty

The company acknowledges that a 3.0-per-cent NSR royalty is reserved in favour of Ammetex and its lawful assigns on production of valuable minerals from the property. The company has the right, exercisable at any time up until commencement of production, to purchase one-third of the NSR (equal to 1.0 per cent of the NSR) by payment to the royalty holder of $2-million (U.S.) in cash, under certain other conditions.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by M. Claiborne Newton III, PhD, CPG, a geological consultant independent of the company who is a registered member in good standing of the Society for Mining, Metallurgy and Exploration (No. 4145342RM) and a certified professional geologist in the state of Virginia (No. 2801001736). Dr. Newton is a qualified person for Nevada Sunrise as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). He has examined information regarding the historical and proposed exploration at Fivemile, which includes his review of the historical geophysical, geological and geochemical data underlying the information and opinions contained herein.

Management cautions that any historical results were collected and reported by operators unrelated to Nevada Sunrise and have not been verified nor confirmed by its qualified person; however, the historical results create a scientific basis for continuing work at Fivemile. Management further cautions that historical results, discoveries and published mineral resource estimates on adjacent or nearby mineral properties, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on Fivemile.

About Nevada Sunrise Metals Corp.

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, B.C., Canada, that holds interests in gold, copper and lithium exploration projects located in the state of Nevada, United States.

Nevada Sunrise holds the right to purchase a 100-per-cent interest in the Griffon gold mine project, located approximately 50 kilometres (33 miles) southwest of Ely, Nev.

Nevada Sunrise holds the right to earn a 79-per-cent interest in the Fivemile gold project, located approximately 40 kilometres (25 miles) south of Battle Mountain, Nev.

Nevada Sunrise holds the right to earn a 100-per-cent interest in the Coronado copper project, located approximately 48 kilometres (30 miles) southeast of Winnemucca, Nev.

Nevada Sunrise owns 100-per-cent interests in the Gemini West, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda county, Nevada.

As a complement to its exploration projects in Esmeralda county, the company owns Nevada water right permit 86863, also located in the Lida Valley basin, near Lida, Nev.

We seek Safe Harbor.