VANCOUVER, British Columbia, Dec. 30, 2013 (GLOBE NEWSWIRE) -- Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSX-V:NEV) is pleased to announce the signing of an amendment to a mining lease on the Golden Arrow property, located near Tonopah, Nevada.
- The advance minimum royalty payment (the "Advance 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 1 st 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 US$1.0 million at any time during the remaining term and any subsequent terms.