Nevada Sunrise Metals Corp. [TSXV: NEV; OTC: NVSGF] reported that the TSX Venture Exchange has accepted for filing documentation relating to an option agreement dated Aug. 13, 2025, among Intor Resources Corp. (a wholly owned subsidiary of the company) and an arm’s-length purchaser.
The property consists of 100% of 223 unpatented lode claims, which represent the core claims of the Gemini lithium project. Gemini is located in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada.
As consideration, the purchaser will pay US$800,000 to the company in order to complete the acquisition of 100% of the 223 unpatented lode claims from the company. An initial non-refundable US$100,000 deposit was paid within five business days of the execution of the agreement, and a second and final payment of US$700,000 to be paid within 120 days of the effective date.
The timing of the final payment can be accelerated by the purchaser. In addition, the company will retain a 2% net smelter return (NSR) royalty for metals and minerals produced from the project, of which one-half (a 1% royalty) can be purchased by the purchaser for US$1-million. The transaction is arm’s length in nature and no finders’ fees are payable.
In accordance with Policy 2.5, the company has not maintained the requirements for a Tier 1 company. Therefore, effective Thursday, September 18, 2025, the company’s tier classification will change from Tier 1 to Tier 2.
