Nevada Sunrise Closes Second and Final Tranche of Private Placement

/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES/

TSXV: NEV

VANCOUVER, July 17, 2018 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) announces today that it has closed the second and final  tranche of its previously announced non-brokered private placement of units ("Units") at a price of $0.15 per Unit (the "Offering"). Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share (a "Warrant Share") at a price of $0.25 for a period expiring on the earlier of three years following the closing date of the Offering and, subject to the issuance of notice by the Company in the manner provided for in the subscription agreements for the Offering, the day which is 30 days after the date that the volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange (the "TSXV") exceeds $0.40 per share over a period of 10 consecutive trading days.

Nevada Sunrise placed 685,000 Units in the second tranche of the Offering for gross proceeds of $102,750. A total of 2,905,133 Units were placed in both tranches of the Offering for gross proceeds of $435,770. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded.   The hold period expiry date for securities issued in the first tranche of the Offering is November 6, 2018. The hold period expiry date for securities issued in the second tranche of the Offering is November 18, 2018.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available. Closing of the Offering is subject to the acceptance of the TSX Venture Exchange.

Proceeds from the Offering will be used to fund the exploration of the Company's Nevada mineral properties, and as general working capital.

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 in the State of Nevada, USA.

The Company's two key gold assets include a 100% interest in the Golden Arrow project near Tonopah, currently the subject of a transaction with Emgold Mining Corporation (TSXV: EMR), and a 21% interest in a joint venture at Kinsley Mountain with Liberty Gold Inc. (TSX: LGD) near Wendover, with each of the properties subject to certain production royalties.

In November 2017, Nevada Sunrise announced an option to earn a 100% interest in the historic Lovelock Cobalt Mine property, located approximately 100 miles (150 kilometres) east of Reno. In March 2018, the Company announced options to earn 100% interests in the Treasure Box and Boyer Mine copper properties, located approximately 3.6 miles (5.8 kilometres) southwest of the Lovelock Cobalt Mine.

Nevada Sunrise began acquisitions of Nevada lithium properties in 2015, which includes 100% interests in the Neptune, Jackson Wash and Aquarius projects, a 50% interest in the Gemini project (Eureka Resources, Inc. (TSXV: EUK) holds a 50% interest), and 100% interest in the Atlantis project, currently under option to American Lithium Corp. (TSXV: LI).

FORWARD LOOKING STATEMENTS
This release may contain forward?looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward?looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward?looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward?looking statements whether as a result of new information, future events or otherwise.

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.

SOURCE Nevada Sunrise Gold Corporation