Noram Lithium Files NI43-101 Technical Report FOR ZEUS Lithium Project
Noram Lithium Corp.
Suite 2150 – 555 West Hastings Street
Vancouver BC V6B 4N6
T: 604.553.2279
NORAM LITHIUM FILES NI43-101 TECHNICAL REPORT FOR
ZEUS LITHIUM PROJECT
Vancouver, British Columbia – March 20 , 2023 – Noram Lithium Corp. (“ Noram” or the
“Company”) (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) announced today that it has
filed on SEDAR a National Instrument 43-101 (“NI 43-101”) technical report (the “Report”) titled
“Updated Resource Estimate Zeus Lithium Project”. The technical report supports the updated
Mineral Resource Estimate announced on January 30, 2023 and is available for review on both
SEDAR (www.sedar.com) and the Company’s website (www.noramlithiumcorp.com). There are
no material differences in the mineral resources reported in the news release of January 30, 2023
and those described in the report.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on
advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging
lithium hub within the United States. With the upsurge in the electric vehicle and energy storage
markets the Company aims to become a key participant in the dom estic supply of lithium in the
United States . The Company is committed to creating shareholder value through the strategic
allocation of capital and is well-funded with approximately CAD$14 million in cash on December
31, 2022 and no debt.
About the Zeus Project (100% Noram)
The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium
Carbonate Equivalent (“LCE”, 1034 Mt at 941 ppm lithium), and an additional Inferred resource
estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
In December 2021, a robust PEA2 indicated the Project could produce an annual average of 31,900
tonnes of Lithium Carbonate for supply to battery manufacturers with a modelled mine life of 40
years (resources support a +100 year mine life). The PEA outlined a US$528 million capital cost
to construct the Project with a robust after-tax NPV(8%) of US$1.3 billion and an IRR of 31% using
US$9,500/tonne LCE pricing. The PEA indicates an a fter-tax NPV(8%) of US$2.7 billion and an
IRR of 52% at US$14,250/tonne LCE pricing. Note that the current daily prices have increased to
over US$45,000/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com.
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
2 Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Qualified Person
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 by National Instrument 43-101 Standards of Disclosure for Mineral Projects ,
and also Vice President of Exploration for Noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
C: 778.991.3798
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.
Cautionary Statement Regarding Forward Looking Information
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 opportunit ies 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, plans for ongoing development of 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, results of further exploration work, and availability of
capital on terms acceptable to the Company. 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.