Noram Receives Results FOR CVZ-72 with the Longest and Highest-Grade Intercept from All of the ZEUS Drilling to Date
Noram Lithium Corp.
Suite 2150 – 555 West Hastings Street
Vancouver BC V6B 4N6
T: 604.553.2279
NORAM RECEIVES RESULTS FOR CVZ-72 WITH THE LONGEST AND
HIGHEST-GRADE INTERCEPT FROM ALL OF THE ZEUS DRILLING
TO DATE
Vancouver, British Columbia – May 5 , 202 2 – Sandy MacDougall, CEO of Noram Lithium Corp.
(“Noram” or the “Company”) (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is pleased to announce
the successful completion of CVZ -72 (PH -06) and release of the final assay results . The Company
completed core hole CVZ-72 at a depth of 428 feet (130.5 m). Sampling for assay began at 60 ft (18.3 m)
and continued to the bottom of the hole, a n interval thickness of 368 ft (112.2 m) was intersected, which
was the entire assayed portion of the hole . The hole ended in mineralization and t he weighted average
lithium values present were as follows:
Depth of Interval Intersection Total thickness Weighted Average Lithium
(ppm)
60 ft to 428 ft (18.3 m to 130.5 m) 368.0 ft (112.2 m) 1120.9 ppm
Including:
110 ft to 380 ft (33.5 m to 115.8 m) 270.0 ft (82.3 m) 1224.1 ppm
Figure 1. Comparative stratigraphy and assay results for drill holes CVZ-72 as compared to CVZ-53 and CVZ-68,
which were drilled as part of the Phases IV and V programs. CVZ-53 and CVZ-68 both had long intercepts of high
grade lithium mineralization. The histogram on the sides of the holes are the composited lithium grades in ppm
Li. The cross section has a 4X vertical exaggeration.
“CVZ-72 was the second hole completed in Noram’s 12-hole Phase VI drilling program. These assays
represent the longest and highest-grade interval of lithium mineralization intersected to date on the Zeus
property. This hole also clearly reaffirms the consistently high lithium grades across th is blanket-like
mineral deposit. If the program continues to produce results such as these, we could reasonably expect our
PFS to outshine our PEA. Ending in mineralization at depths such as these suggests even greater potential
for the size and extent of this resource” comments Brad Peek, VP of Exploration and geologist on all six
phases of Noram’s Clayton Valley exploration drilling.
Hole ID From
(ft)
To
(ft)
From
(m)
To
(m)
Li
(ppm)
CVZ-72 60 70 18.3 21.3 670
CVZ-72 70 80 21.3 24.4 880
CVZ-72 80 90 24.4 27.4 970
CVZ-72 90 100 27.4 30.5 780
CVZ-72 100 110 30.5 33.5 740
CVZ-72 110 120 33.5 36.6 1020
CVZ-72 120 130 36.6 39.6 780
CVZ-72 130 140 39.6 42.7 1060
CVZ-72 140 150 42.7 45.7 1100
CVZ-72 150 160 45.7 48.8 970
CVZ-72 160 170 48.8 51.8 1760
CVZ-72 170 180 51.8 54.9 1240
CVZ-72 180 190 54.9 57.9 1210
CVZ-72 190 200 57.9 61.0 1180
CVZ-72 200 210 61.0 64.0 1390
CVZ-72 210 220 64.0 67.1 1590
CVZ-72 220 230 67.1 70.1 1570
CVZ-72 230 240 70.1 73.2 1450
CVZ-72 240 250 73.2 76.2 1720
CVZ-72 250 260 76.2 79.2 1380
CVZ-72 260 270 79.2 82.3 1390
CVZ-72 270 280 82.3 85.3 1180
CVZ-72 280 290 85.3 88.4 1180
CVZ-72 290 300 88.4 91.4 1080
CVZ-72 300 310 91.4 94.5 1080
CVZ-72 310 320 94.5 97.5 1110
CVZ-72 320 330 97.5 100.6 1100
CVZ-72 330 340 100.6 103.6 1090
CVZ-72 340 350 103.6 106.7 1220
CVZ-72 350 360 106.7 109.7 1170
CVZ-72 360 370 109.7 112.8 1100
CVZ-72 370 380 112.8 115.8 930
CVZ-72 380 390 115.8 118.9 890
CVZ-72 390 400 118.9 121.9 870
CVZ-72 400 410 121.9 125.0 870
CVZ-72 410 420 125.0 128.0 800
CVZ-72 420 428 128.0 130.5 910
Table 1 – Sample results from CVZ-72 from 60 ft to depth of 428 ft.
The samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the
sample batch and returned values that were within their expected ranges.
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 stag e 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 fla gship 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 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 o r implied by such forward -looking information. Forward-
looking information in this news release includes statements regarding, among other things, the completion transactions compl eted 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 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).