NEVADA LITHIUM RESOURCES - NVLHF STOCK NEWS

Nevada Lithium begins drilling at Bonnie Claire lithium project. PEA indicates NPV of $1.5B USD and 23.8% IRR. Core drilling to define resource and examine potential for lithium brines. Drill water expected to change from hauled in to on-site within next month.

Nevada Lithium Resources Inc. provides an update on its 2023 mineral exploration and development work on the Bonnie Claire Lithium Project. The company plans to conduct a core drilling program to expand on the successful 2022 program, examine the potential for lithium-bearing brines, and produce marketable battery-grade lithium hydroxide. The 2023 work program aims to complete a Pre-Feasibility Study and add value for shareholders. Drilling is expected to commence soon, and additional testing and surveys will be conducted to support the exploration efforts.

Nevada Lithium has completed its acquisition of Iconic Minerals' 50% interest in the Bonnie Claire lithium project. Nevada Lithium now holds 100% ownership of the project. The company will receive gross proceeds of $11,320,998 from the Concurrent Offerings. The Bonnie Claire Project has the potential to play a significant role in meeting global lithium needs.

Nevada Lithium Resources Inc. has appointed Jeff Wilson, PhD, as the new Vice-President of Exploration, effective May 1, 2023. Previously a Director, Wilson brings over twenty years of experience, including roles in geology and consulting. Darren L. Smith transitions to Senior Technical Advisor. The company highlights a transformative year, culminating in a definitive agreement to consolidate 100% ownership of the Bonnie Claire lithium project, which boasts a substantial lithium resource. The Bonnie Claire Project is one of North America’s largest lithium resources, with a NI 43-101 inferred resource of 3.4 billion tonnes grading 1,013 ppm Li.

Nevada Lithium Resources Inc. and its partner Iconic Minerals Ltd. announced the successful production of marketable battery-grade lithium carbonate from the Bonnie Claire Lithium Project in Nye County, Nevada. This achievement marks a key milestone for the project, showcasing its capability to produce lithium that meets the specifications of leading global producers. The Bonnie Claire Project is recognized as one of North America's largest lithium resources, with a NI 43-101 inferred resource of 3,407 million tonnes grading 1,013 ppm lithium. The company continues to advance metallurgical work to enhance lithium production processes and assess potential byproducts.

Nevada Lithium Resources Inc. (CSE: NVLH, OTCQB: NVLHF) announced a proposed non-brokered private placement offering of subscription receipts aiming for gross proceeds of at least $3,250,000, with the option to increase this to $5,000,000. This financing supports the consolidation of its 100% ownership in the Bonnie Claire Lithium project, a significant asset containing 3,407 million tonnes grading 1,013 ppm Li. Each subscription receipt will convert into units, including common shares and warrants. The proceeds will be utilized for general corporate purposes following the completion of the related transaction.

Nevada Lithium Resources (OTCQB: NVLHF) announced that the Bureau of Land Management has approved its exploration Plan of Operations for the Bonnie Claire Lithium Project in Nye County, Nevada. The exploration area spans 4,146 acres, with drilling planned for up to 109 holes in Phase I. No significant environmental issues were found, indicating minimal impact. The Project is notable for its substantial lithium resource, with an inferred mineral resource of 3,407 million tonnes grading 1,013 ppm Li, equating to approximately 18,372 million kg of lithium carbonate equivalent.

Nevada Lithium Resources Inc. (CSE: NVLH, OTCQB: NVLHF) has submitted comments to the Department of Treasury regarding Section 30D Electric Vehicle tax credits under the Inflation Reduction Act. The Company estimates the critical mineral component of these tax credits to be worth $86 billion by 2030. It recommends investment substitution for US lithium projects, projecting a $6 billion investment could facilitate tax credit utilization while creating jobs. This proposal aims to address funding shortages and enhance the development of the US lithium industry.

Nevada Lithium Resources, in partnership with Iconic Minerals, is advancing its Bonnie Claire Lithium Project in Nye County, Nevada. The 2022 drilling program, with a budget of $5 million, aims to enhance data to support project development. Significant drilling activities have been reported, including core hole BC2201C, which reached a depth of 2001 feet, identifying lithium-rich claystone. The project boasts an inferred resource of 3.4 billion tonnes, grading 1,013 ppm lithium, totaling 18.37 million kilograms of lithium carbonate equivalent.