Noram Completes CVZ-70 at 463FT (141.1M) with Near Surface Mineralization and over 350FT (106.7M) of Visually Rich Clays
Noram Lithium Corp.
Suite 2150 – 555 West Hastings Street
Vancouver BC V6B 4N6
T: 604.553.2279
NORAM COMPLETES CVZ-70 AT 463FT (141.1M) WITH NEAR
SURFACE MINERALIZATION AND OVER 350FT (106.7M) OF
VISUALLY RICH CLAYS
Vancouver, British Columbia – March 31, 2022 – Sandy MacDougall, CEO of Noram Lithium Corp.
(“Noram” or the “ Company”) (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is pleased to report
that the Company has completed hole CVZ-70 on its Zeus lithium clay deposit in Nevada to a total depth
of 4 63 ft (14 1.1m). When logging and visual inspection of the core was complet ed, it was noted that
mineralization appeared immediately near surface and extended down to approximately 387.0 ft (138m) for
a total intersection of 380ft (116m).
Figure 1 shows the Zeus project drilling to date with the various drilling phases color coded. The arrow
points to the recently completed CVZ-70 hole. Other planned Phase VI holes are indicated in purple.
Figure 1 – Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12
proposed holes for Phase V1 currently underway. CVZ-70 and other planned Phase VI holes are indicated in
purple.
“Drill hole CVZ-70 is an incredibly encouragin g hole for Noram. Figure 2 below shows a cross section
with CVZ-70 and two adjacent, previously drilled, holes. The blue, green, black and magenta layers in the
figure indicate claystone layers that have been shown to host the higher lithium assays from p ast drilling.
The 380-foot (116-meter) intersection in CVZ -62 was one of the thickest claystone intersection s by far.
CVZ-70 appears to likely rival this and prior holes from prior programs. Thicker intersections such as this
one will have profound implications on future resource tonnage calculations” commented Brad Peek M.Sc.
CPG., VP of Exploration and Qualified Person for this and all 5 of the previous drilling phases of Noram’s
Zeus lithium property.
Figure 2. Comparative stratigraphy for drill holes CVZ-70 as compared to CVZ-61 and CVZ-62, which were drilled
as part of the Phase V program. CVZ-61 and CVZ-62 were two of the longest intercepts drilled on the property to
date. All of the claystone units except the brown silty claystone have relat ively high lithium concentrations in
previous drill holes on the property. The histogram on the sides of CVZ-61 and CVZ-62 are the composited lithium
grades in ppm Li.
CVZ-70 is the first of the 12 -hole Phase VI drilling program which is expected to upgrade
approximately 175 million tonnes of the current 827 million tonne Inferred Resource to the
Indicated category. Core samples from CVZ-70 have been shipped to ALS Laboratory in Reno,
Nevada for assay processing on a “rush” basis. Assay results are pending.
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 treasury exceeding US$18 million. Noram is aggressively advancing its Zeus Lithium
Project in Nevada from the developm ent-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$14,250/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
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 o r 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 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).