Noram Received Permits FOR ZEUS Fall Phase V Drill Campaign and Mobilizes Drill
TSX.V: NRM
Frankfurt: N7R
OTCQB: NRVTF
FOR IMMEDIATE RELEASE
NORAM RECEIVED PERMITS FOR ZEUS FALL PHASE V
DRILL CAMPAIGN AND MOBILIZES DRILL
Vancouver, British Columbia – October 29, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM
/ Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce the receipt of permits for Phase V drilling of
the Zeus Lithium Project in Clayton Valley Nevada, following the successful Phase IV drill program that
significantly increased the resources. Phase IV dri lling and earlier results were used for a new resource
estimate: 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium
at 1045 ppm lithium as Inferred Resources, for a total of 201 million tonnes at 1101 ppm lithium (900 ppm
Li cut-off: 1.18 million tonnes lithium carbonate equivalent – “LCE” ; see Noram Ventures press release of
February 5, 2020).
The drill team has been mobilized and will be on the ground in the forthcoming days. A CAT drill will be
onsite and running with 2 teams, 24 hours a day, until the program has been completed. All 12 holes will be
drilled to an approximate depth of 120m (393ft). This phase of drilling is designed to expand the existing
resource and extend the mineralization to the south and east of the current resource area, which will
significantly increase the area of exploration on the Property. The BLM has approved 7 of these additional
holes, which will keep the amount of disturbed acreage under 5 acres. As drilling commences and the required
reclamation is completed, the BLM will allow the expansion of the permitting to include the remaining 5
holes.
Figure 1. Zeus property map showing: a) location of current Indicated and Inferred resources at >900 ppm Li cut-off; b) West-East cross-section
shown in figure 2; and c) location of proposed drill holes for Fall 2020 campaign
Noram Ventures Inc.
Suite 2150 - 555 West Hastings Street, Vancouver, BC, Canada, V6B 4N6
Tel.: 604-553-2279 | Website: www.noramventures.com | email: [email protected]
Figure 2. West-East cross-section across known mineralization within Esmeralda Formation lithium claystones, categorized by grade. Note that the
terrain rises to the East, and the grade and thickness are highest in this direction.
Following Phase V, a new resource estimate will be determined utilizing the additional data garnered from
this phase of drilling. Noram expects to complete an updated NI 43 -101 compliant resource estimate report
by the end of Q1 2021.
The technical inform ation contained in this news release has been reviewed and approved by Brad Peek.,
M.Sc., P. Geo., who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined
under National Instrument 43-101.
About Noram Ventures Inc.
Noram Ventures Inc. (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is a Canadian based junior
exploration company, with a goal of develo ping lithium deposits and becoming a low - cost supplier. The
Company’s primary business focus since formation has been the exploration of mineral projects. Noram’s
long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the
markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anita Algie.”
Director and CFO
Office: (604) 553-2279
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 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.