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Noram Receives Results for CVZ-81 with High-Grade Long Intercept of 330ft with Weighted Average 1169 ppm Li and Li High of 1810 ppm

Thursday, June 30, 2022 2:55 AM
Noram Lithium Corp.
https://noramlithiumcorp.com/

VANCOUVER, BC / ACCESSWIRE / June 30, 2022 / S andy MacDougall, CEO of Noram Lithium Corp. (" Noram " or the " Company ") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-81 (PH-03) and release of the final assay results. The Company completed core hole CVZ-81 at a depth of 451.5 feet (137.6 m). Sampling for assay began at 55 ft (16.8 m) and continued to the bottom of the hole, an interval thickness of 416.5 ft (126.9 m) was intersected. The hole ended in mineralization and the weighted average lithium values present were as follows:

Noram Lithium Corp., Thursday, June 30, 2022, Press release picture

CVZ-81 was the last hole drilled in Noram's Phase VI drilling program and had better than expected results, as did most of the holes in this in-fill drilling program. Now that the final assays are in, efforts are being focused on updating the geological/lithium grade models to be used in the upcoming PFS. The grades and thicknesses of mineralization seen in the Phase VI holes are anticipated to substantially improve the outlook for the Zeus deposit and upgrade approximately 175 million tonnes of the deposit from the inferred resource category to indicated resource." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.

Noram Lithium Corp., Thursday, June 30, 2022, Press release picture
Figure 1. Comparative stratigraphy and assay results for drill hole CVZ-81 as compared to CVZ-78 and CVZ-68, which were drilled as part of the Phases V and VI programs. As can be seen on the cross section, all 3 holes had long intercepts of high-grade lithium mineralization. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.

Hole ID

Sample No.

From (ft)

To
(ft)

From
(m)

To
(m)

Li
(ppm)

CVZ-81

1851338

35

45

10.7

13.7

960

CVZ-81

1851339

45

55

13.7

16.8

710

CVZ-81

1851340

55

65

16.8

19.8

830

CVZ-81

1851341

65

75

19.8

22.9

750

CVZ-81

1851342

75

85

22.9

25.9

950

CVZ-81

1851343

85

95

25.9

29.0

820

CVZ-81

1851344

95

107

29.0

32.6

1000

CVZ-81

1851345

107

118

32.6

36.0

800

CVZ-81

1851346

118

123

36.0

37.5

1020

CVZ-81

No Sample

123

124.5

37.5

37.9

CVZ-81

1851347

124.5

135

37.9

41.1

950

CVZ-81

1851348

135

145

41.1

44.2

1140

CVZ-81

1851349

145

155

44.2

47.2

1110

CVZ-81

1851350

155

165

47.2

50.3

1100

CVZ-81

1851351

165

175

50.3

53.3

1750

CVZ-81

1851353

175

185

53.3

56.4

1450

CVZ-81

1851354

185

195

56.4

59.4

1170

CVZ-81

1851355

195

205

59.4

62.5

1520

CVZ-81

1851356

205

215

62.5

65.5

1540

CVZ-81

1851357

215

225

65.5

68.6

1810

CVZ-81

1851358

225

235

68.6

71.6

1510

CVZ-81

1851359

235

245

71.6

74.7

1440

CVZ-81

1851361

245

255

74.7

77.7

1490

CVZ-81

1851362

255

265

77.7

80.8

1730

CVZ-81

1851363

265

275

80.8

83.8

1380

CVZ-81

1851364

275

285

83.8

86.9

1190

CVZ-81

1851365

285

295

86.9

89.9

1200

CVZ-81

1851366

295

305

89.9

93.0

1110

CVZ-81

1851367

305

315

93.0

96.0

1140

CVZ-81

1851368

315

325

96.0

99.1

1140

CVZ-81

1851369

325

335

99.1

102.1

1030

CVZ-81

1851370

335

345

102.1

105.2

930

CVZ-81

1851372

345

355

105.2

108.2

960

CVZ-81

1851373

355

365

108.2

111.3

1140

CVZ-81

1851374

365

375

111.3

114.3

660

CVZ-81

1851375

375

385

114.3

117.3

780

CVZ-81

1851376

385

395

117.3

120.4

730

CVZ-81

1851377

395

405

120.4

123.4

770

CVZ-81

1851378

405

415

123.4

126.5

820

CVZ-81

1851379

415

425

126.5

129.5

710

CVZ-81

1851380

425

435

129.5

132.6

790

CVZ-81

1851381

435

445

132.6

135.6

840

CVZ-81

1851382

445

451.5

135.6

137.6

860

Table 1 - Sample results from CVZ-81 from 35 ft to depth of 451.5 ft (10.7-137.6 m)

The samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.

Noram Lithium Corp., Thursday, June 30, 2022, Press release picture

Figure 2 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 holes completed for Phase VI. Phase VI holes are indicated in purple.

The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.

About Noram Lithium Corp.

Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.

The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off . In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.

Please visit our web site for further information: www.noramlithiumcorp.com .

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159

For additional information please contact:

Peter A. Ball
President and Chief Operating Officer
[email protected]
C: 778.344.4653

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021)

SOURCE: Noram Lithium Corp.

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Company Update
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