Nevada Sunrise sold core Gemini Lithium claims to Dome Rock for US$800,000, retaining royalties and adjacent claims, pending TSXV approval.
Nevada Sunrise Metals Corporation has officially completed the previously announced sale of a portion of its Gemini Lithium Project claims to Dome Rock Resources, LLC. Dome Rock is a private, South Dakota-based company that is considered an arm’s-length party to Nevada Sunrise.
The transaction, first disclosed on August 19, 2025, involved the sale of 223 unpatented lode claims representing the central portion of the Gemini Lithium Project (“Gemini”). Gemini is situated in Nevada’s Lida Valley, near the historic town of Gold Point in Esmeralda County, an area widely recognized for its lithium exploration potential.
As part of the agreement, Nevada Sunrise has chosen to retain ownership of 26 unpatented lode claims immediately west of the transferred claims. This retention ensures the Company maintains a continuing interest in the overall project area, while also benefiting from Dome Rock’s direct development of the newly acquired claims.
Financial Terms of the Transaction
The agreed purchase price for Dome Rock’s 100% acquisition of the claims was set at US$800,000 (approximately CAD$1.1 million). Nevada Sunrise has confirmed full receipt of payment in two tranches:
Initial Deposit: Upon execution of the option-to-purchase agreement, Nevada Sunrise received a non-refundable payment of US$100,000.
Final Payment: On September 15, 2025, Dome Rock completed the remaining payment of US$700,000, settling the transaction in full.
Royalty Agreement
Although Dome Rock now holds full ownership of the 223 claims, Nevada Sunrise has preserved a continuing economic interest in future project development through a royalty structure. The Company will retain a 2.0% Net Smelter Returns (NSR) royalty on all metals and minerals produced from the Gemini Project. Furthermore, Dome Rock has the option to reduce the NSR by half. By paying Nevada Sunrise US$1.0 million, Dome Rock can buy back 1.0% of the royalty, leaving Nevada Sunrise with a continuing 1.0% NSR.
This royalty arrangement secures Nevada Sunrise’s opportunity to benefit from any future production success at Gemini, while also providing Dome Rock with potential flexibility in managing its project economics.
Regulatory Approval
The transaction remains subject to final acceptance by the TSX Venture Exchange, a standard condition for such agreements involving publicly listed Canadian companies. Once approved, the transaction will be fully recognized under applicable securities regulations.
Through this sale, Nevada Sunrise has both monetized part of its lithium portfolio and retained a long-term upside position in the project. The move underscores the Company’s strategy of creating shareholder value through selective divestments while maintaining a foothold in promising exploration districts.
