Nevada Lithium Resources Inc. provided the core assay results for its second diamond drill hole from the 2023 drill program at its 100% owned Bonnie Claire lithium project (the "Project" or "Bonnie Claire"), located in Nye County, Nevada. The potential for positive impact on the PFS indicates that re-analysis of the 2024 workplan is required to maximize the benefit of this latest set of assays. The Project's PFS resource upgrade drilling locations and depths, previously adjusted to accommodate the discovery of high-grade mineralization, may need to be adjusted once again.

In making the forward looking statements in this news release, Nevada Lithium has applied several material assumptions, including without limitation: the Company's ability to effectively manage unanticipated costs and expenses; the Company's ability to generate cash flow from operations; the Company's ability to successfully compete in the mining industry; the timing and results of exploration and drilling programs; general business and economic conditions; the Company's ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the accuracy of budgeted exploration and development costs and expenditures; future currency exchange rates and interest rates; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; the Company's ability to attract and retain skilled personnel; political and regulatory stability; sustained labour stability; stability in financial and capital goods markets; industry trends; actual results of exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned; the market for lithium will continue to strengthen; the Company maintaining the Project; market fundamentals that result in sustained lithium demand and prices; the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of Bonnie Claire in a timely manner; the availability of financing on suitable terms for the development; construction and continued operation of Bonnie Claire; the Project containing mineral resources; Among the key risk factors that could cause actual results to differ materially from those projected in the forward- looking statements are the following: operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Project; the Company's inability to find a commercially viable deposit at its mineral property; additional financing may not be available to the Company when required or, if available, the terms of such financing may not be favourable to the Company; fluctuations in demand of lithium; the Company may not be able to identify, negotiate or finance any future acquisitions successfully, or to integrate such acquisitions with its current business; the Company's exploration activities are dependent upon the grant of appropriate licenses, concessions, leases, permits and regulatory consents, which may be withdrawn or not granted; the Company's operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; there is no guarantee that title to the Company's property will not be challenged or impugned; the Company faces various risks associated with mining exploration that are not insurable or may be the subject of insurance which is not commercially feasible for the Company; social and environmental activism can negatively impact exploration, development and mining activities; the success of the Company is largely dependent on the performance of its directors and officers; the Company and/or its directors and officers may be subject to a variety of legal proceedings, the results of which may have a material adverse effect on the Company's business; the Company may be adversely affected if potential conflicts of interests involving its directors and officers are not resolved in favour of the Company; dilution from future equity financing could negatively impact holders of the Company's securities; failure to adequately meet infrastructure requirements could have a material adverse effect on The Company's business; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of funding any exploration programs on the Company's property; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, cave-ins and flooding); employee relations; relationships with and claims by local communities and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and indigenous populations; availability of mining inputs and labour; the speculative nature of mineral resources associated with mining inputs and labour; the financial markets and political conditions, including changes in the financial markets and in the financial markets and in general economic, including changes in the financial market price for commodities and political conditions, business; changes in the financial markets and regulatory conditions, including changes in general economic conditions, including changes in the Financial markets and in the financial markets.