NVLH:CC - NEVADA LITHIUM RESOURCES OBTAINS RECEIPT FOR FINAL PROSPECTUS

Canada NewsWire

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VANCOUVER, BC , March 31, 2022 /CNW/ - Nevada Lithium Resources Inc. (CSE: NVLH) (FSE: 87K ) (" Nevada Lithium " or the " Company ") is pleased to announce it has received a receipt for its final short form prospectus dated March 29, 2022 (the " Final Prospectus ") in connection with its previously announced offering of 12,257,890 special warrants of the Company (the " Special Warrants ") at a price of $0.45 per Special Warrant for gross proceeds to the Company of approximately $5,516,050.50 (the " Offering "). The Final Prospectus was filed with the securities regulatory authorities in the provinces of British Columbia , Alberta and Ontario (the " Qualifying Jurisdictions ").

Following completion of the approval process, the Company filed the Final Prospectus in the Qualifying Jurisdictions to qualify the issuance of 12,257,890 common shares (the " Underlying Shares ") and 12,257,890 common share purchase warrants (the " Underlying Warrants ") issuable upon conversion of the Special Warrants.  The Offering completed in two tranches that were announced in the Company's press releases of December 1, 2021 and December 15, 2021 . The Special Warrants automatically converted, and the Underlying Shares and Underlying Warrants were issued, on March 29, 2022 in accordance with the terms of the indenture under which the Special Warrants were issued to holders.

Copies of the Final Prospectus can be found on SEDAR at http://www.sedar.com or may be obtained upon request from the Company, Suite 1570-505 Burrard Street, Vancouver, BC (Attention: Chief Financial Officer).

The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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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/.

Stephen Rentschler
CEO

For investor inquiries or further information, please contact: sr@nvlithium.com (604) 416-4099

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SOURCE Nevada Lithium Resources Inc

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