Nevada Lithium Resources Inc. announced the results of a Preliminary Economic Assessment (PEA) for the Bonnie Claire Lithium Project, located in Nye County, Nevada. The PEA, completed in accordance with National Instrument 43-101 (NI 43-101) with Effective date of August 20, 2021, was carried-out by Global Resource Engineering Ltd. (GRE), of Denver, CO, USA. The PEA highlights are as follows: Average annual production of 32,300 tonnes of lithium carbonate equivalent (LCE). 23.8% after-tax Internal Rate of Return (IRR), $1.5 billion after-tax Net Present Value (NPV) at an 8% discount rate, Upfront Capital costs of $547 million, which includes $126 million in contingency, Lithium carbonate price assumption of $13,400/tonne, Payback period of 6.7 years, after-tax, 15,000 tonne per day processing rate over a 40 year mine-life, Cash operating cost of $5,974/tonne LCE, All-in sustaining cost of $6,057/tonne LCE, Break-even price (0% IRR) of $6,545/tonne LCE, Overall lithium recovery of 74.7%. Results of the PEA represent forward-looking information. This economic assessment is by definition preliminary in nature, and it includes inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. The Bonnie Claire lithium deposit is a sediment hosted lithium occurrence situated within the Sarcobatus Valley, in Nye County, Nevada. At Bonnie Claire, lithium mineralization is not present in clay minerals but rather is present as lithium compounds (lithium carbonate and lithium salts) deposited within the fine grain clay, silt, and sand pore space of the rock units. The nature of the lithium mineralization at Bonnie Claire may provide for unique advantages in processing not amenable to typical clay deposits where the lithium is contained in the crystal lattice of the clay mineral species.