Nevada Sunrise Announces Amendment to Convertible Loan Agreement

Nevada Sunrise Announces Amendment to Convertible Loan Agreement

Nevada Sunrise Gold Corporation announces that, further to the convertible loan agreement (the “Loan Agreement”) in the amount of USD$500,000 (the “Loan”) announced March 23, 2010, the Company has executed an amendment (the “Amendment”) to the Loan Agreement. Under the terms of the Amendment, the amount of USD$400,000 will be owed by the Company following repayment of USD$100,000 towards the principal and USD$50,000 as payment of all interest in full in respect of the Loan. The term of the Loan has been extended by 12 months to a total of 24 months, expiring March 25, 2012. The Loan may be pre-paid in advance by the Company without penalty. Upon prior notice to the Company, the Loan is convertible into units of the Company at a deemed price of $0.07 per unit, each unit consisting of one share and one-half of a warrant, each whole warrant entitling the holder to acquire an additional common share at $0.12, exercisable until March 25, 2012. The Loan will continue to bear simple interest of 10%, payable upon the earlier of maturity or conversion.

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