Noram Completes CVZ-67: Ends IN Mineralization at 502 FT (153 M)
TSX.V: NRM
Frankfurt: N7R
OTCQB: NRVTF
FOR IMMEDIATE RELEASE
NORAM COMPLETES CVZ-67: ENDS IN MINERALIZATION AT 502 FT (153 m)
Vancouver, British Columbia – February 23, 2021 – Noram Ventures Inc. (“Noram” or the “Company”) (TSX
- Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce the completion of CVZ-67 at a
depth of 502 ft (153 m) and is the deepest hole drilled to date showing mineralization below 400 ft. An
intersection of approximately 281 ft (85.6 m) of favourable claystones was evident and drilling ended in
blue claystone which has been shown in past programs to host significant amounts of lithium. CVZ-67 was
the farthest southeast hole that will be drilled in this Phase V drilling program.
Figure 1a) Strip Log of CVZ-67 outlining the various claystone types encountered at depth from the surface to 502 ft (153 m) b)
Zeus Property map showing a) location of current Indicated and Inferred resources at >900ppm Li cut -off; b) location of drill
sites completed or in progress ( seen in green) to date for the Phase V 2020 program. Proposed drill sites not yet explored
indicated in white.
From (ft) To (ft) From (m) To (m) Rock Type
0 202 0.0 61.6 Surface Gravel
202 221 61.6 67.4 Brown Sandy Mudstone
221 232 67.4 70.7 Tan Claystone
232 464 70.7 141.4 Blue Claystone
464 502 141.4 153.0 Blue & Black Claystone
Total Depth = 502
ft.
Table 1 – Summary of Figure 1a Strip Log, describing the lithologies of CVZ-67 from surface to depth of 502 ft (153 m).
The core hole passed through a probable fault zone around 310 feet (94.5 m). The angle of the bedding
in the core changed below that po int and was tilted at angles varying from 10° to 25° for the remainder
of the hole. The tilting should not have affected the grade of the lithium mineralization but indicates that
the drill hole passed into a fault block that is somewhat tilted in relation to nearby blocks. Block faulting
is a normal occurrence in the Basin and Range physiographic province of the western United States.
“This is another important drill hole for Noram. It is the deepest drilled to date with visually favourable
claystones ap parent at the bottom. We were very pleased to see this and expect the results to be
consistent based upon the yield of these claystones from prior drilling. The Company has not previously
drilled in this area, nor at these depths; consequently, the results will significantly impact the resource
modelling. From visual inspection alone, it appears that CVZ-67 once again confirms our theories on both
the dip and direction of the resource” commented Brad Peek, consulting geologist and Qualified Person
for all drilling phases of Noram’s Zeus lithium property.
Samples were sent to ALS Labs in North Vancouver on a rush basis and assays are pending. These lakebed
sediments have shown very uniform lithologies and lithium grades over large areas of Clayton Valley.
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 Ventures Inc.
Noram Ventures Inc. (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is a Canadian based junior exploration
company, with a goal of developing lithium deposits and becoming a low - cost supplier. The Company’s primary
business is the Zeus Lithium Project (“Zeus”) in Clayton Valley, Nevada. The Zeus Project has a current resource
estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1045
ppm lithium as Inferred Resources (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent – “LCE”.
Noram’s long term strategy is to build a multi -national lithium minerals company to produce and sell lithium into
the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anita Algie”
Director and CFO
Office: (604) 553-2279
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release may contain forward -looking i nformation which is not comprised of historical facts. Forward -looking
information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects a nd 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 mat erially from such forward -looking information include,
but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the for ward-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.