Caelan Capital Inc. Provides Company Update and Reports ON Successful Investment IN Noram
CAELAN CAPITAL INC.
FOR IMMEDIATE RELEASE
CAELAN CAPITAL INC. PROVIDES COMPANY UPDATE AND REPORTS ON
SUCCESSFUL INVESTMENT IN NORAM:
NORAM PROVIDES UPDATE ON LITHIUM CLAYSTONE
DEPOSITS IN CENTRAL NEVADA
Vancouver, British Columbia – July 21, 2020 – Caelan Capital Inc. (“Caelan” or the “Company”) (CSE: CDN;
AXVEF:US; Frankfurt: A117RU) is pleased to update shareholders on its 7.90% interest in Noram Ventures
Inc. (“Noram”) and their plans for a Q3-Q4 2020 drill campaign and a Preliminary Economic Assessment
on its Zeus lithium claystone property, a review of recent developments in central Nevada is warranted.
Noram’s Zeus lithium claystone deposit has, at a base case 900 ppm lithium cut-off, has 124 million tonnes
at 1136 ppm lithium as indicated resources, and 77 million tonnes lithium at 1045 ppm lithium as inferred
resources (0.75 and 0.43 million tonnes lithium carbonate equivalent – “LCE” , respectively; Figure 1).
There are over two square kilometers of fertile ground yet to be drill-tested on the Zeus property.
Over the last 3 years, there has been increasing interest in lithium c laystone deposits in Clayton Valley,
Nevada, near Albemarle’s Silver Peak lithium brine operations which remains North America’s only lithium
producer at present. Along with Noram’s Zeus deposit, Cypress Development (CYP-X) has the Dean lithium
claystone deposit adjacent and to the southwest, and American Lithium (LI -X) has the TLC deposit located
~40 km to the north-northeast from Zeus (Fig. 1).
Cypress Development recently completed a full Prefeasibility Study (PFS) with favorable economics for its
claystone deposit next door to Zeus (see Cypress press release May 19, 2020). Both Cypress’ Dean deposit
and Noram’s Zeus deposit are within the same Esmeralda Formation lithium claystones that have been
demonstrated to be non-refractory, meaning that lithium is liberated to solution from the clays within using
a low pH solution.
Note that mineralization hosted on adjacent and/or nearby properties and operations is not necessarily
indicative of mineralization hosted on the Company’s property.
The other major lithium claystone deposit in the vicinity is American Lithium’s TLC deposit. Also located in
Esmeralda Formation (or equivalent) play lake sediments, the TLC deposit is at surface or under a thin
veneer of alluvial sediments. On 2020-05-21, American Lithium announced the maiden resource estimate
of 5.37 million tonnes of LCE in Measured and Indicated Resource categories, and 1.76 million tonnes LCE
in the Inferred Resource category. American Lithium has initiated metallurgical studies on their claysto ne
material, and as for Zeus and Dean, their clay minerals are non-refractory and treatable in low pH solutions.
The company is currently exploring novel techniques for lithium processing and is aiming to produce an
early economic study in 2020.
Note that mineralization hosted on adjacent and/or nearby properties and operations is not necessarily
indicative of mineralization hosted on the Company’s property.
CSE: CDN
OTC: AXVEF
Frankfurt: A117RU
C. Tucker Barrie, President and CEO of Noram Ventures Inc., comments: “continued exploration an d
development of large lithium claystone deposits reveals that lithium is recoverable in low pH solutions, as
shown by Cypress Development’s Pre -Feasibility Study; and by the successful pilot plant testing by Ioneer
Ltd. and Lithium Americas for their respective Nevada claystone projects. The demand for lithium is growing
significantly due to the rapid expansion of the electric vehicle market. Furthermore, the United States
government is proactive in promoting and developing critical metals within the USA, including lithium. This
means that there is strong support for developing projects like Zeus which is on Bureau of Land
Management ground in Nevada, one of the most favorable jurisdictions for mining globally.”
Figure 1. Zeus lithium deposit, Clayton Valley, Nevada, outlined by 900 ppm cut-off boundary. Albemarle’s Silver Peak
lithium brine ponds are seen to the northwest, and neighbor Cypress Development’s Dean Lithium claystone deposit,
also within the playa lake sediments of the Esmeralda F ormation, are located to the southwest. American Lithium’s
TLC lithium claystone deposit is located ~40 km to the NNE. The Zeus lithium claystone deposit is present at the surface
or under a thin alluvium veneer, and has a strip ratio of 0.1:1. The deposit is thicker and has higher grades to the south
and east, and is open in this direction. There is a probable fault on the southeast side that currently bounds these
resources; however there is evidence from earlier drilling that the lithium rich clayston es continue on the other side of
this fault. To the south, similar faults that cut the Esmeralda Formation lithium claystones have displacements of
meters only. There is >2 km2 of area to the south and east available for future drill testing.
The technical information contained in this news release has been reviewed and approved by C. Tucker
Barrie, Ph.D., P. Geo., who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as
defined under National Instrument 43-101.
The Company al so announces that it has agreed with certain directors, officers and consultants of the
Company to cancel all 517,500 incentive stock options previously granted in 2017 and 2018 , and held by
such directors, officers, and consultants.
The Company also accepts the resignation of Mr. Arthur Brown from the Board of Directors and as CEO and
President. The Company would like to thank Mr. Brown on his years of contributions and wishes him all the
best in his future endeavors.
About Caelan Capital Inc.
Caelan Capital Inc. is a Vancouver-based junior resource company with projects in North America. Caelan is focused on the development of the
following mineral properties:
The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta,
Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy
Minerals Ltd.’s Pocitos Prospects.
The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the
Washoe County Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS
“Sandy MacDougall”
Chairman & Director
Phone: (604) 662-7902
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking
information can include wi thout limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantee s of future
performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by
such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital . These risks and uncertainties could cause
actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could
differ materially from anticipated in such information. These and all subsequent written and oral forward - looking information are based on estimates and opinions of
management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obliga tion to update forward -looking
information should circumstance or management’s estimates o r opinions change.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policie s of the CSE) accepts responsibility for the
adequacy or accuracy of this release.