Vancouver, British Columbia – May 4, 2022 – Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) and its 50% partner in Bonnie Claire, Iconic Minerals Ltd. (TSXV: ICM) (OTC: BVTEF) (FSE: YQGB) (“Iconic”) are pleased to announce that the Plan of Operation (“PoO” or “Plan”) request on the Bonnie Claire Lithium Project (the “Project” or “Property”), has been declared complete and accepted by the Bureau of Land Management (“BLM”) to advance to the next step of the review process.
Nevada Lithium CEO, Stephen Rentschler, comments: “We are pleased that no significant environmental issues have been found at Bonnie Claire and are excited to continue the advancement of one of the largest lithium deposits in North America. We are proactively working with our 50% partner, Iconic, to anticipate and satisfy the requirements of the regulatory bodies overseeing the Project’s permitting. We firmly believe that Bonnie Claire is one of the most attractive global lithium assets remaining in junior developers’ hands.”
BLM resource specialists have reviewed all the baseline environmental studies for the PoO and have deemed them acceptable. No significant environmental issues were found in the baseline reports. Therefore, BLM considers the Plan ready for analysis under the National Environmental Policy Act (NEPA). The BLM has determined that the level of environmental review required for this Plan is an Environmental Assessment (EA), as was anticipated by the Company. The PoO will be formally granted upon completion of the EA and a public commentary period.
Drilling Exploration Update
Nevada Lithium is also pleased to announce that Iconic, as operator of the initial joint venture work program, has initiated the 2022 exploration program at Bonnie Claire. Work is underway to improve roads, set up water storage and move supplies and machinery to the project. The first drill hole of the year is anticipated to commence in approximately one week. This year’s drilling will further delineate the mineral resource, provide additional samples for metallurgical programs, and collect geotechnical data ahead of borehole mining method testing as is required for Prefeasibility.
QP Disclosure
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
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About Nevada Lithium Resources Inc.
Nevada Lithium Resources Inc. is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire Lithium Project, located in Nye County, Nevada, where it currently holds a 50% interest. A recently completed NI 43-101 Preliminary Economic Assessment returned attractive investment metrics and the Company is actively advancing the Project towards Pre- Feasibility. Learn more: https://www.nvlithium.com/
On behalf of the Board of Directors of Nevada Lithium Resources Inc.
“Stephen Rentschler”
Stephen Rentschler, CEO
For further information, please contact:
Nevada Lithium Resources Inc.
Stephen Rentschler
CEO and Director
Phone: (604) 900 3341
E-mail: sr@nvlithium.com
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E-mail: email@nvlithium.com
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