Noram Completes CVZ-72 at 428FT (130.M) with Near Surface Mineralization, over 323FT (98.4M) of Visually Rich Clays
Noram Lithium Corp.
Suite 2150 – 555 West Hastings Street
Vancouver BC V6B 4N6
T: 604.553.2279
NORAM COMPLETES CVZ-72 AT 428FT (130.M) WITH NEAR
SURFACE MINERALIZATION, OVER 323FT (98.4M) OF VISUALLY
RICH CLAYS
Vancouver, British Columbia – April 7 , 202 2 – 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-72 (PH-06) on its Zeus lithium clay deposit in Nevada to a total
depth of 428ft (130.5m). Visual inspection of the core confirmed that clays previously shown to be high in
lithium grades appeared near surface and extended down to a depth of 4 00ft (121.9m) for a total drilled
intersection of 323ft (98.4m).
Figure 1 – Two boxes of core from CVZ-72. The box on the left is from depths of 253-261.5ft (77.1-79.7m) and
shows some of the black, highly reduced mudstone/claystone. The box on the right is from 288.5-298ft (87.9-
90.8m) and is typical of the somewhat less reduced blue mudstone/claystone. From past drilling experience, both
lithologic units are usually high in lithium content.
Figure 2 – 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. Phase VI holes are indicated in purple.
“We are incredibly pleased with the results from CVZ -72 albeit not surprised. Drill hole CVZ -72 was
completed at 428ft (130.5m) and had predictably encouraging lithologies. Past programs have shown this
to be highly mineralized material. This is exactly what one would like to see with infill drilling . Figure 3
below shows a cross section with CVZ-72 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 past drilling as is shown by the histograms of lithium values on th e two adjacent holes. The
adjacent CVZ-68 was one of the better high-grade holes with a very thick clay intercept. The drill intercepts
thus far continue to be very encouraging ” 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 3. Comparative lithology for drill holes CVZ-72 as compared to CVZ-53 and CVZ-68, which were drilled as
part of the Phase IV and V programs. CVZ-53 and CVZ-68 had long intercepts of high grade lithium . All of the
lithology units except the brown mudstones have relatively high lithium concentrations in previous drill holes on
the property. The histogram on the sides of CVZ-53 and CVZ-68 are the 5m composited lithium grades in ppm Li.
The section has a 4X vertical exaggeration.
CVZ-72 is the second 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-72 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 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$14,250/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 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 w ill 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).