12:29 PM EDT, 09/24/2025 (MT Newswires) -- Nevada Lithium Resources ( NVLHF ) shares were last seen up 25% after the company on Wednesday said it signed a non-binding Letter of Intent (LOI) on with Korean firm Hydro Lithium to jointly explore and develop the recovery of critical minerals from its 100%-owned Bonnie Claire lithium and boron project in Nye County, Nevada.

Under the LOI, Hydro Lithium would apply proprietary extraction technologies developed by its chief executive Uong Chon, to recover additional minerals from the project, including elements listed on the U.S. critical minerals list. The agreement also contemplates collaboration on other North American assets. The LOI is structured to terminate on the earlier of either execution of a definitive agreement or September 25, 2026.

"Nevada Lithium has entered this relationship with Hydro Lithium to evaluate these technologies and their potential to add on to the very strong investment metrics recently illustrated by Bonnie Claire's updated Preliminary Economic Assessment, released on August 6, 2025," chief executive Stephen Rentschler said.

Under the August 2025 PEA, Bonnie Claire is projected to produce 62,300 tonnes of lithium carbonate and 129,500 tonnes of boric acid annually over a 61-year mine life, with a 32.3% internal rate of return and a 2.8-year capital payback period.

The LOI remains preliminary and requires further negotiation before binding commitments are made.

Shares of Nevada Lithium Resources ( NVLHF ) were last seen up $0.035 to $0.175 on the TSX Venture Exchange.

Price: 0.18, Change: +0.04, Percent Change: +25.00