Acquisition Of The Bonnie Claire Lithium Project

VANCOUVER - Nevada Lithium Resources Inc. and Iconic Minerals Ltd. have completed the previously announced plan of arrangement under the Business Corporations Act (“BCBCA"), whereby Nevada Lithium acquired Iconic's 50% interest in the Bonnie Claire lithium project located in Nye County, Nevada. Upon completion of the Arrangement, Nevada Lithium now holds a 100% interest in the Bonnie Claire Project.

Stephen Rentschler, Chief Executive Officer of Nevada Lithium, said, "We are pleased to announce the completion of the previously announced transaction with Iconic resulting in 100% ownership of the Bonnie Claire lithium deposit by Nevada Lithium, and welcome the new shareholders who have been created as a result of this transaction. Nevada Lithium is currently engaged in Pre-Feasibility Study work, as well as strategic dialog with lithium end-users. Consolidation of asset ownership has been one of the key factors in discussions, and we are confident that this transaction will be instrumental in unlocking shareholder value."