CDN Maverick Reports ON Successful Investment IN Noram: Lithium Market Rallies as Noram Drills Northernmost Target CVZ-63 with Near Surface Mineralization
FOR IMMEDIATE RELEASE
CDN MAVERICK REPORTS ON SUCCESSFUL INVESTMENT IN NORAM:
LITHIUM MARKET RALLIES AS NORAM DRILLS NORTHERNMOST TARGET CVZ-63
WITH NEAR SURFACE MINERALIZATION
Vancouver, British Columbia – December 10, 2020 – CDN Maverick Capital Corp. (“Maverick” or the
“Company”) (CSE: CDN; OTCPINK: AXVEF; Frankfurt: A117RU) is updating shareholders on its interest in
Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) who are pleased to
announce that the Company has mobed the drill to the northernmost site (Site A below or CVZ -63) and is
currently at a depth of approximately 288ft (88m). Mineralization was encountered from near surface (tan
clays) to approximately 92ft (28m); below which blue-black clay was apparent to 129ft (39m), blue clay to
223ft (68m) and green clays to our current depth. The Company has been working with the Bureau of Land
Management t o expand the permitting to all 12 holes. Conditional approval has been given and the
Company expects to received final approval prior to the completion of the first 7 holes.
Figure 1. Zeus Property map showing a) location of current Indicated and Inferred resources at >900ppm Li cut-off; b) location
of proposed drill sites for Phase V 2020 program.
Since 2018, lithium prices have decreased 60 -70%; the consequence of which was cutbacks in existing
operations and reductions in exploration efforts. This resulted in limited production and indications suggest
CSE: CDN
OTCPINK: AXVEF
Frankfurt: A117RU
that prices have bottomed. In a recent Forbes article (dated December 7, 2020), Glyn Lawcock, Global Head
of Mining Research, reported “There is not sufficient supply to meet this demand projection based on our
knowledge of known projects today. That includes all projects whether they are under construction, in
feasibility or still in exploration.” The lithium supply -demand balance chart below indicates that lithium
demand will most likely outgrow the supply of all known lithium projects by 2025.
This looming shortage coupled with surging sales in electric cars has set off a rally in the equities linked to
the raw material. The sector’s momentum has been encouraged by its association with the green agenda,
an increasing focus of both investors and governments. The recent move reflects growing optimism about
the mass market penetration of electric vehicles that use lithium in their batteries. According to UBS
analysts, EVs will reach cost parity with gas powered cars by 2024 and if so, could make up nearly half of
all new car sales by 2030. Increasing lithium demand spurs increased lithium prices, which allows the
entry of new producers such as Noram into the market.
“This program has been incredibly successful for Noram. As far as we are aware, we have now drilled the
thickest intersections of lithium claystone in Clayton Valley to date. This in an incredible achieve ment for
our shareholders; the implications of which on our resource calculations are tremendous. CVZ-62 surpassed
CVZ-61 with 380ft (116m) of clays that are believed to contain high lithium values based on previous drilling.
Assuming a radius of influence of 250m and using a conservative specific gravity of 1.74g/cc for the
claystone material, this is the equivalent of 38 million tonnes that could potentially be added to the resource
from CVZ-62 alone if lithium grades continue to be the same as seen in nearby drilling. There are few other
projects in the world where we could realize results such as these – conducting low-cost drill programs with
such a significant impact on the resource estimates . The Zeus Project is exceptional ” commented Anita
Algie, CFO and Director.
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 CDN Maverick Capital Corp.
CDN Maverick Capital Corp. is a Vancouver-based junior resource company with projects in North America. CDN Maverick is focused on the
development of the following mineral properties:
The Ranger Lake Gold Project consists of 1,107 hectares of prospective gold exploration in southern Quebec, Canada.
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 without limitation statements based on current expectations involv ing a number of risks and uncertainties and are not guarantees of future
performance of the Company. The following are important factors that could cause the Company’s actual results to differ mater ially from those expressed or implied by
such forward look ing 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 obligation to update forward -looking
information should circumstance or management’s estimates or opinions change.
Neither the Canadian Securities Exchange (“ CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for th e
adequacy or accuracy of this release.