Nevada Sunrise Gold Corp. announced that its joint venture partner, New Placer Dome Gold Corp. ("New Placer Dome") has completed the first half of the 2021 induced polarization (IP)/resistivity geophysical surveys currently underway at the Kinsley Mountain Gold Project ("Kinsley Mountain") in Nevada.Nevada Sunrise holds a 20.01% interest in the Kinsley Mountain joint venture, with New Placer Dome, as operator, holding a 79.99% interest.

The first phase of the 2021 IP/resistivity geophysical surveys infilled the area between the Western Flank Zone ("WFZ") and Shale Saddle 2020 survey grids. There is a correlation between enhanced chargeability and drill-confirmed high-grade gold sulphide mineralization at the WFZ. At Shale Saddle, anomalous gold values were discovered on the periphery of a 500 by 250 metre untested chargeability anomaly.

Seven lines, totaling 30 line-kilometres, were completed during the first phase of surveying, extending the existing 2020 Shale Saddle grid north to connect and overlap with the south end of the WFZ grid (see Figure 1). Chargeability anomalies were detected on all lines, coincident with modelled Secret Canyon shale rocks, the main host of high-grade sulphide gold mineralization at the WFZ and Secret Spot. Drilling in 2020 by the Kinsley Mountain joint venture yielded high-grade gold sulphide intercepts from the Secret Canyon shale including: 10.2 g/t gold (Au) over 6.1 metres within a broader zone averaging 2.63 g/t Au over 38.1 metres in KMR20-017 at the WFZ; and 11.3 g/t Au over 2.9 metres within a broader zone grading 3.81 g/t Au over 11.6 metres in KMD20-006 at Secret Spot (see Nevada Sunrise news releases dated January 1, 2021 and April 28, 2021).

Significantly, the two holes are separated by a 1.5 kilometer expanse of largely untested Secret Canyon stratigraphy. The new chargeability anomalies occur within areas untested by previous drilling, with each line producing one or more potential drill targets. Several anomalies are spatially associated with major fault structures including the Kinsley NW Fault and the Transverse Fault, which correlate to WFZ and Secret Spot gold mineralization, respectively.

Together with anomalies identified by the 2020 Shale Saddle survey, a broad north-south trending zone of elevated chargeability has been delineated over a strike length of 1.5 kilometres. New Placer Dome reports that the next phase of surveying currently underway extends the 2020 WFZ grid to the east, covering the Upper Kinsley Ridge pits and Notch Peak breccias. Two lines, totaling 5 line-kilometres, are planned for the WFZ grid extension.

An additional 45 line-kilometres are planned for the underexplored Kinsley North Range, covering a total area of 25 square kilometres of undrilled target host rocks. Seven IP/resistivity lines have been completed to date during 2021 infilling the area between the WFZ and Shale Saddle target. The lines are spaced 150 metres apart, with line lengths ranging from 3.6 to 4.0 kilometres.

Data were collected using the Direct Current Resistivity, Induced Polarization ("DCIP") method, on a 16-channel pole-dipole array with a dipole size (a-spacing) of 100 metres. A GDD GRx16 receiver and GDD 5000W-2400V-20A IP Tx model Tx4 transmitter was used. Raw data were loaded into GDD IP Post-Process software and Geosoft Oasis Montaj software for quality control and review.

The reviewed data were used to produce pseudo section plots of apparent resistivity and apparent chargeability and were the input for the inversion. Inversions were completed using the UBC-GIF DCIP2D inversion codes. Each line of data was inverted independently.

The resistivity and IP inversion is a two-step process. The resistivity inversion is run first, and this model is used in the chargeability inversion. Multiple inversions were completed for quality control.

The scientific and technical information contained in this news release has been reviewed and approved by Robert M. Allender, Jr., CPG, RG, SME and a Qualified Person for Nevada Sunrise as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Allender has examined the information provided by New Placer Dome, which includes the data disclosed underlying the information and opinions contained herein.