Nevada Sunrise Gold Corp.
TSX VENTURE : NEV

Nevada Sunrise Gold Corp.

July 25, 2011 20:10 ET

Nevada Sunrise Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

NEVADA SUNRISE GOLD CORPORATION (the "Company") (TSX VENTURE:NEV) is pleased to announce that, further to its news releases dated June 21, 2011, it has closed the first Tranche of its non-brokered private placement (the "Offering"). At the close of first Tranche, the Company has issued 10,810,000 units (the "Units") at a price of $0.05 per Unit, for gross proceeds of $540,500. Each Unit consists of one common share (a "Share") and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase an additional common share (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 18 months from the date of issuance.

In connection with the Offering, a finder's fee was paid to certain finders (the "Finders"). The Finders received an aggregate of $39,240 representing 8% of the gross proceeds from the sale of the Units and an aggregate of 981,000 warrants (the "B-Warrant") equal to 10% of the Units sold. Each B-Warrant entitles the holder to purchase one Share of the Company at a price of $0.10 per Share, for a period of 18 months from closing.

All securities issued under the private placement are subject to a four month hold period, expiring November 26, 2011, during which time the securities may not be traded.

Proceeds from the private placement will be used to fund exploration of the Company's North-American resource properties and for general working capital.

About Nevada Sunrise

For the latest details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.

Forward Looking Information. This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

Contact Information

  • Nevada Sunrise Gold Corporation
    William B. Henderson
    President and Chief Executive Officer
    (530) 887-9901
    (530) 884-3822 (FAX)
    www.nevadasunrise.com