LOI For Development Of Bonnie Claire Critical Minerals

VANCOUVER – Nevada Lithium Resources Inc. signed a non-binding Letter of Intent (LOI) with Korean-based Hydro Lithium Inc. (101670.KQ), relating to the recovery of critical minerals from Nevada Lithium’s Bonnie Claire lithium and boron project, located in Nye County, Nevada. The LOI with Hydro Lithium was entered into in relation to the use of proprietary extraction technologies developed by Uong Chon, CEO of Hydro Lithium, for the recovery of valuable elements leading to the development of additional revenue streams at Bonnie Claire, including, but not limited to, elements on the US critical minerals list. The LOI also contemplates Hydro Lithium and Nevada Lithium entering into collaborative efforts to recover critical minerals from other North American properties, in addition to the Project.

The LOI is non-binding, and parties agree to proceed towards negotiating a definitive agreement to complete the transactions contemplated under the LOI. The LOI terminates on the earlier of: (i) signing a definitive agreement; or (ii) September 25, 2026.