Nevada Lithium Resources Inc. and its 50% partner in the Bonnie Claire Lithium Project, Iconic Minerals Ltd. announced the production of marketable battery-grade lithium carbonate from Bonnie Claire Deposit material. The Bonnie Claire Project is located in Nye County, Nevada, and hosts one of the largest lithium resources in North America. The sample (several grams) was produced using composited core material (approximately 30 kg) from drill hole BC2001C, collected from the interval of approximately 90 to 380 ft.

depth (core length). The material, with a head assay of approximately 1,000 ppm Li, was fed through a calcination and water-leach step, which prevents Fe and other deleterious elements from entering solution, allowing for a simple and straightforward downstream purification circuit to be applicable. The solution was processed through an 'off-the-shelf' commercial purification circuit through to the precipitation of a crude lithium carbonate product, which was then dissolved and recrystallized to produce a marketable 99.9% pure Li2CO3 product (Figure 1).

The metallurgical program at Bonnie Claire is ongoing with additional material to be received shortly from the recent coring program. In follow-up testwork, the Company intends to further evaluate processing to a lithium hydroxide product as well as demonstrate the recovery of potential byproducts (e.g., boron, potassium). The metallurgical program has been designed to support a Prefeasibility Study on the Project.

Dr. Todd Harvey, Process Engineering Director and President of Global Resource Engineering Ltd, is the Qualified Person (QP) for the metallurgical portion of this project. Dr. Harvey has over 30 years of experience in the mining sector and is a registered member of the Society of Mining, Metallurgy and Exploration (SME). The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide.

Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Drill results from the salt flat include 2,054 ppm Li over 67.1 m (220 ft) in drill hole BC-1601 as well as a 475 m (1560 ft) vertical intercept that averaged 1153 ppm Li. Bonnie Claire is one the largest lithium resources in North America with a current NI 43-101 inferred mineral resource 3,407 million tonnes (Mt) grading 1,013 ppm Li for 18,372 million kilograms of contained lithium carbonate equivalent, at a cut-off grade of 700 ppm Li.

Mineral resources are not mineral reserves as they do not have demonstrated economic viability. The gravity low that characterizes the valley is approximately 20 km (12 miles) long, and the current estimates of depth to basement rocks range from 600 to 1,200 meters (2,000 to 4,000 feet). The current claim block covers an area of 74 km2 (28.6 mi2) with potential for brine systems and further sediment resources.