Nevada Sunrise Gold Corporation announced the signing of an amendment to a mining lease on the Golden Arrow property, located near Tonopah, Nevada. In 2010, the Mining Lease was extended from its previous expiry date of December 31, 2011 for an additional five years to December 31, 2016, with additional one-year extensions of the Mining Lease at the option of Nevada Sunrise. The additional one year extensions under the previous mining lease terms resulted in a doubling of the advance royalty payment for each one year extension, beginning January 1, 2017.

The advance minimum royalty payment is now reduced, from $50,000 to $25,000 per year, for the remainder of the term of the Mining Lease. The Mining Lease can be extended year-to-year at the company's option by making the Advance Royalty Payments, which are capped at $25,000 per year; The Advance Royalty Payment due on January 1, 2014 has been deferred to July 1, 2014. Each subsequent annual Advance Royalty Payment of $25,000 is due and payable on January first of each succeeding calendar year; The production royalty, currently at 2.0%, is increased by one percentage point (1.0%) to 3.0% (the 'Amended Production Royalty'); Nevada Sunrise may purchase one percentage point (1.0%) of the Amended Production Royalty from Nevada Eagle for $1.0 million at any time during the remaining term and any subsequent terms. All other provisions of the mining lease continue in full 3force and effect.