Vancouver, British Columbia--(Newsfile Corp. - February 22, 2019) - Nevada Sunrise Gold Corporation (TSXV: NEV) ("Nevada Sunrise" or the "Company") announces the disposition by the Company of 5,000,000 common shares (the "Common Shares") in the capital of Emgold Mining Corporation (the "Issuer"). The disposition of the Common Shares occurred on February 22, 2019 through a private sale.
Prior to the disposition, the Company beneficially owned, or exercised control or direction over, 5,000,000 Common Shares, representing an approximate 14.13% interest in the issued and outstanding common shares of the Issuer (see Nevada Sunrise news releases dated January 29, 2019, and February 8, 2019). Nevada Sunrise disposed of 4,000,000 Common Shares at a price of $0.06 per Common Share, and 1,000,000 Common Shares at a price of $0.08 per Common Share, for total proceeds of $320,000. Following the disposition, the Company beneficially owns, or exercises control or direction over, no Common Shares (0%) of the Issuer, and does not hold any convertible securities of the Issuer.
Nevada Sunrise disposed of the Common Shares of the Issuer for capital purposes. The proceeds received by the Company from the disposition will be used for exploration on its Nevada mineral properties and for general working capital purposes.
This news release is being issued in pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with the regulatory authorities in each jurisdiction in which Emgold is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be filed on the Emgold's profile on SEDAR and may also be obtained by contacting Nevada Sunrise at (604) 428-8028 or by email at info@nevadasunrise.ca
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, cobalt, copper and lithium exploration projects located in the State of Nevada, USA.
The Company's key gold asset is a 21% interest in a joint venture with Liberty Gold Inc. at the Kinsley Mountain Project ("Kinsley Mountain") near Wendover, with the property subject to a 3.0% net smelter returns royalty. For further information on Kinsley Mountain, including a technical report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects entitled "Updated Technical Report and Estimated Minerals Resources for the Kinsley Project" (the "Report"), effective October 15, 2015. The Report dated December 16, 2015 was subsequently filed on SEDAR and can be accessed at http://www.sedar.com.
Nevada Sunrise has the right to earn a 100% interest in the historic Lovelock Cobalt Mine and Treasure Box copper properties, located approximately 150 kilometers (100 miles) east of Reno, both of which are currently under option to Global Energy Metals Corp., who can earn up to an 85% participating interest from the Company. In September 2018, Nevada Sunrise acquired the right to earn a 100% interest in the Coronado VMS Project, located in Pershing County, approximately 48 kilometers (30 miles) southeast of Winnemucca, which was recently the subject of a diamond drilling program by the Company (see Nevada Sunrise news release dated January 10, 2019).
Nevada Sunrise owns 100% interests in the Neptune, Jackson Wash and Aquarius lithium projects, a 50% interest in the Gemini lithium project (Kore Mining Ltd., formerly Eureka Resources Inc., holds a 50% interest), and a 100% interest in the Atlantis lithium project, currently under option to American Lithium Corp., all of which are located in Esmeralda County.
For Further Information Contact:
Warren Stanyer, President and Chief Executive Officer Telephone: (604) 428-8028 Facsimile: (604) 684-9365 email: warrenstanyer@nevadasunrise.ca
Forward-Looking Statements
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Nevada Sunrise with respect to its future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and, in this news release, include information regarding the sale or purchase of additional securities of Emgold in the future or other acquisitions and/or dispositions of the Emgold shares to be completed on the open market or by private transaction.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Nevada Sunrise believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: future exploration activities; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of Nevada Sunrise and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Nevada Sunrise, including the annual consolidated financial statements and related MD&A for the Year Ended September 30, 2018, which are filed with the securities regulatory authorities in certain provinces of Canada and available 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 forward-looking information, there may be other factors that cause actions, events or results not to be as 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.
Forward-looking statements are made as of the date hereof and accordingly are subject to change after such date. Except as otherwise indicated by Nevada Sunrise, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Nevada Sunrise does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release. The 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 within the United States or to the account or benefit of any U.S. person.
