Noram Lithium Appoints New Chief Executive Officer To Lead Next Stages of Development at Zeus
Noram Lithium Appoints New Chief Executive Officer To Lead
Next Stages of Development at Zeus
VANCOUVER, BC / January 4, 2023 / Noram Lithium Corp. ("Noram" or the "Company")
(TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) announces that, effective immediately, the
Board of Directors has appointed Greg McCunn as Chief Executive Officer to lead the Company
through the next stages of development at its wholly-owned high grade Zeus Lithium Project in
Clayton Valley, Nevada. Noram's Founder and current Chief Executive Officer, Sandy
MacDougall, will continue with the Company as Chair of the Board of Directors.
"The previous 12 months have been incredibly productive for the Company" stated Mr.
MacDougall. "On the back of a positive Preliminary Economic Assessment on the Zeus Project,
we started 2022 with a strategic financing that has put the Company in a strong financial position
with approximately CAD$14 million in the treasury at calendar year end and no debt. During the
year we completed a successful infill drilling program consisting of 12 drill holes which all
intersected high-grade lithium over significant lengths, and from which we anticipate a
significant conversion of Inferred Resources to Measured and Indicated".
"With the Company now at a critical inflection point, it is the right time to bring in Mr. McCunn
as CEO. He is a proven leader with a strong technical background in hydrometallurgical
processing. His expertise and experience in mine development will be vital in the continued de-
risking of the Zeus Project and re-rating the Company. I am excited to be taking on the roll of
Board Chair and have the utmost confidence in Greg and the team to fulfill my vision of
developing a world-class lithium project in Nevada".
Greg McCunn brings thirty years of extensive experience in mining in both the base metal and
precious metal industries. A Professional Engineer with an MBA, Mr. McCunn has led multiple
junior mining companies from the exploration stage through the transition to project
development, permitting, financing, construction and into operations. He was formerly the CEO
of a number of TSX and NYSE listed public companies including Alio Gold and Galiano Gold
and has over a decade of experience as a Chief Financial Officer. As an executive, he has raised
over $600 million in equity and debt financing from the Canadian and US capital markets,
completed over $1 billion in merger and acquisition transactions, and put three mines into
production on three different continents.
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.
The Company's flagship asset is the Zeus Lithium Project, 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$14,250/tonne,
the PEA indicates an After-Tax NPV (8%) of approximately US$2.67 Billion and an IRR of
52%.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Chairman
C: 778.999.2159
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 of a pre-
feasibility study and ongoing development at the Zeus Lithium Project. 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 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).
SOURCE: Noram Lithium Corp.