Nevada Lithium Resources Inc. announced the discovery of high-grade boron mineralization at its 100% owned Bonnie Claire lithium project (the ?Project? or ?BonnieClaire?), located in Nye County, Nevada. The Company is also pleased to announce it has initiated work to examine any potential effects on metallurgy for the Project.

At Rhyolite Ridge, the boron processing stream material averages 13,900 ppm (1.39%) boron, and the B5 high-grade boron bearing marl zone averages 62 feet (19 meters) thick1, with a maximum thickness of 131 feet (40 meters). In comparison, the recent Bonnie Claire drill intercepts have been greater than >550 feet (>168 meters) with boron grades averaging above 15,000 ppm (1.50%). Additionally, the average lithium grade of the Rhyolite Ridge processing stream is 1,750 ppm* lithium while the Bonnie Claire lower mineralized zone displays drill intercepts of up to 4,154 ppm lithium over 680 feet (207 meters).

The Company is concentrated on identifying and developing significant lithium mineralization at Bonnie Claire. The 2023 drill program confirmed the presence of two mineralized zones: 1) a lower-grade upper zone and 2) a higher-grade lower zone. The Upper zone starts at surface and exhibits intercepts such as 967ppm lithium over 420ft (20-440ft) in drillhole BC-2303C (news release February 27, 2024).

The lower zone is much thicker and exhibits much higher grades, such as 3076 ppm Lithium over 1100ft (1340-2460ft) in drillhole BC-2301C (news release November 20, 2023) and 4,154 ppm Lithium over 680 ft (207 m) from 1820-2500ft in BC-2303C (news release February 27, 2024). Lithium mineralization is hosted within claystone host rocks, disseminated within the minus 10 size fraction. The mineralized claystones are laterally continuous and appear to dip gently to the east and remain open for expansion in several directions.

Elevated boron assays have been encountered at Bonnie Claire since the 2022 drill program, though intercepts were not considered material to include for extraction. In 2023, the Company switched to sample preparation using four-acid digestion to provide more reliable lithium assays, but this preparation technique precluded the analysis of boron. The Company recently reanalyzed the original pulps from BC-2301C and BC-2303C for boron using a sodium hydroxide fusion (FUS-NA02) sample preparation that allows for high grade boron analysis by ICP-AES.

The reanalysis of these two holes has returned significantly higher boron grades across longer intercepts than in previous holes. This has piqued the Company?s interest in potentially exploiting the boron in the deeper zone. High boron and lithium assays appear to coexist within the lower claystones between approximately 1750 (533m) and 2500ft (762m) in depth.

The recent drill assays have been reinforced by new quantitative X-Ray Diffraction (XRD) analysis results conducted by Hazen Research Inc. They have found that a significant portion (38%) of the lithium high grade zone rock may be comprised of searlesite. Searlesite is a relatively rare sodium borosilicate mineral (NaBSi2O5(OH)2), usually found disseminated in fine-grained lacustrine strata and often associated with altering volcanic ash. Initial metallurgical work by Hazen Labs Inc. suggests that the presence of significant searlesite affects the physical behavior of the claystone that contains the high-grade lithium mineralization.

The Company has engaged Hazen and Global Resource Engineering Ltd. (?GRE?) to evaluate the behavior of the searlesite-rich material and investigate if any modifications may be required in the existing metallurgical circuit. Because of the potential importance of this boron mineralization, Nevada Lithium has asked Global Resource Engineering (GRE) to investigate the possibility of incorporating boron into its ongoing estimation of a new lithium mineral resource estimate (see news release dated April 16, 2024). As Hazen proceeds with metallurgical work on the extraction of lithium and boron from the high-grade lower zone, the Company continues to proceed with its plans to publish an updated Preliminary Economic Assessment (see news release dated April 16, 2024.

A Quality Assurance /Quality Control protocol following industry best practice was incorporated into the program by Nevada Lithium. Drilling was conducted by Major Drilling. Core was transported by Major from the collar location and received by Nevada lithium staff at the Company storage facility in Beatty, NV.

The facility is only accessible to Nevada Lithium staff and remains otherwise locked. Received core was logged and cut at the Facility by Nevada Lithium staff. Logging and sampling included the systematic insertion of blanks and duplicates.

Core samples intended for chemical assay were transported by Company staff to ALS USA Inc.?s laboratory in Reno, NV. for sample preparation (Codes WEI-21 CRU-21, CRU-31, Pul-31, SPL-22Y, CRU-QC, PUL-QC, DIS-REJ21, and LOG-22), then shipped to ALS Vancouver laboratory in Burnaby BC, where the samples were digested with 4 acid (GEO-4A01) and analyzed via ICP-MS (Code ME-MS61), tailored for lithium analyses along with accessory elements. The 4 acid digestion did not allow for a boron assay in the initial multi-element analysis, so the pulps were pulled from internal ALS storage after analysis (FND-02) and subjected to sodium hydroxide fusion (FUS-NA02) for ICP-AES high grade boron analysis (B-ICP82a).

Internal ALS Standards duplicates, and blanks in the drill results were approved as acceptable. Core samples intended for mineralogical analysis were transported to Hazen Research Inc.?s laboratory in Golden CO. The sample was analyzed as received.

Analysis was performed using a Bruker D8 Advance XRD with Davinci design and a Lynxeye detector utilizing cobalt radiation produced at 35 kV and 40 mA. The scan range is 5°?85° 2-theta, with a step of 0.02° 2-theta and a time per step of 0.4 s. Mineral quantification was completed using the Rietveld refinement method with Bruker TOPAS version 4.2 software. Please note the detection limit of XRD analysis for certain constituents can be as high as 2 to 5%.