Noram Completes CVZ-73 at 458.0 FT (140.0 M) with Visually Rich Clays Near Surface to 369 Feet (112.5 M); Another Long Interval of Potentially High-Grade Lithium Clays
Noram Lithium Corp.
Suite 2150 – 555 West Hastings Street
Vancouver BC V6B 4N6
T: 604.553.2279
NORAM COMPLETES CVZ-73 AT 458.0 FT (140.0 M) WITH VISUALLY
RICH CLAYS NEAR SURFACE TO 369 FEET (112.5 M);
ANOTHER LONG INTERVAL OF POTENTIALLY HIGH-GRADE
LITHIUM CLAYS
Vancouver, British Columbia – April 21, 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-73 (PH-08) on its Zeus lithium clay deposit in Nevada to a total
depth of 458.0ft (140.0m). Visual inspection of the core confirmed that clays previously shown to be high
in lithium grades appeared near surface (20.0ft/6.1m) and, with some possible lower grade zones near the
bottom of the hole , extended down to total depth of 4 58.0ft (140.0m) for a total drilled intersection of
438.0ft (133.5m).
Figure 1 – A photograph of the Titan Drilling Co. LF-70 drill rig onsite while drilling CVZ-73.
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.
“This is an impressive interval for the Zeus Project. While we have encountered numerous longer intervals
to date, CVZ-73 appears to compare favorably to them; with visually rich clays that typically hosted high
levels of lithium in prior programs. Intervals such as these will continue to have a favorable impact on the
PFS” 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-73 as compared to CVZ-51 and CVZ-53, which were drilled as
part of the Phase V program. CVZ-51 and CVZ-53 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-51 and CVZ-53 are the 5m composited lithium grades in ppm Li. The
section has a 4X vertical exaggeration.
CVZ-73 is the third 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-73 have been shipped to ALS Laboratory in Reno,
Nevada for assay processing. 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 Ven ture Exchange)
accepts responsibility for the ade quacy 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 t he 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 ne ws 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 ev ents 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).