Noram Recognizes Positive Economics FOR Neighbor IN Clayton
TSX.V: NRM
Frankfurt: N7R
OTCPINK: NRVTF
FOR IMMEDIATE RELEASE
NORAM RECOGNIZES POSITIVE ECONOMICS FOR NEIGHBOR IN CLAYTON VALLEY,
NEVADA, AND PLANS FOR PEA STUDY
Vancouver, British Columbia – May 27, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM /
Frankfurt: N7R / OTCPINK: NRVTF ) recognizes the accomplishments of neighbor Cypress Development
Corp. with their recently released Prefeasibility Study on their lithium claystone deposit, which is adjacent
to Noram’s Zeus lithium claystone property in Clayton Valley, Nevada.
On May 19, 2020, Cypress announced the results of the study: 15,000 tonnes per day production rate; 27,400
lithium carbonate equivalent (LCE) annual production over 40+ years; Capex - $US493 million including
sulfuric acid plant on-site; Opex - $US 3,392/tonne LCE; production based on a probable mineral reserve of
222 million tonnes averaging 1,141 ppm Li (1.353 million tonnes LCE) ; and an after-tax NPV-8% of $US
1.052 billion and IRR of 25.8%.
This study is directly relevant to Noram’s Zeus lithium claystone deposit (Figure 1) . The Zeus lithium
claystone deposit is within the same Esmeralda Formation paleo-playa lake bottom units and has nearly
identical mineral and geological characteristics to that of the Cypress deposit. The favorable lithium units are
effectively horizontal layers and have lateral continuity in grade for many hundreds of meters to kilometers.
NI43-101 standards require stating that mineralization on one property is not necessarily indicative of
mineralization on an adjacent property.
Both deposits are immeaditely east of Albemarle’s Silver Peak lithium br ine operations, which remains the
only domestic supply of lithium in the United States (Figure 1). The two deposits share the same access to
infrastructure and have similar topography. The Esmeralda Formation lithium claystone units are unlithified,
so mining will not require blasting.
In February, Noram announced a new resource estimate for the Zeus deposit, which are given in Table 1. At
a 900 ppm lithium cut-off, the Zeus deposit has 124 million tonnes averaging 1136 ppm lithium (0.749
million tonnes LCE) as indicated resources, and 77 million tonnes averaging 1045 ppm lithium (0.428
million tonnes LCE) as inferred resources. The Zeus lithium deposit is shown in plan view with a Google
Maps image as the base in Figure 1. Proximity to Albemarle’s Silver Peak lithium brine operation, which is
currently North America’s only lithium producer, is seen in this image. The deposit is thicker and has higher
grades to the south and east, and is open in this direction.
C. Tucker Barrie, President and CEO of Noram Ventures Inc., comments on the Cypress Development PFS
study: “We commend the Cypress team on their excellent work for th eir pre-feasibility study. They have
paid close attention to metallurgical processing studies. Their testing on processing the lithium claystone in
vats considers relatively low acid consumption and moderate temperatures, and they have achieved 86.5%
extraction of lithium into solution (Cypress news release 2020-05-19). The y are confident of producing a
marketable lithium product from their concentrated lithium in solution, using membrane and ion filtration.”
He continues: “ Presently, the United States go vernment is proactive in promoting and developing critical
metals within the USA, including lithium. This means there is strong support for developing projects like
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Zeus which is on Bureau of Land Management ground in Nevada, one of the most favorable jurisdictions for
mining globally.
“We look forward to further de-risking our Zeus lithium project by closer delineation and expansion of the
resources with further drilling, beginning a preliminary economic assessment study in 2020. There are other
methods to extract lithium that may be cost-competitive, and these are currently under consideration. ”
Figure 1. Zeus lithium deposit, Clayton Valley, Nevada with 900 ppm (red) cut -off boundary in plan view.
Albemarle’s Silver Peak lithium brine ponds are seen to the northwest. The lithium claystone deposit is
present at the surface or under a thin alluvium veneer, and has a strip ratio of 0.1:1. The deposit is open to
the south and east on the property where there is >2 km2 of area for future drill testing.
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Table 1. Zeus lithium deposit resource estimate*, 2020-02
Indicated Mineral Resource at 900 ppm cutoff
Tonnes 123,966,000
Grade 1136 ppm Li
Contained Lithium 140,789,264 kg
Lithium carbonate equivalent 749,421 tonnes
Inferred Mineral Resource at 900 ppm cutoff
Tonnes 76,891,000
Grade 1045 ppm Li
Contained Lithium 80,340,620 kg
Lithium carbonate equivalent 427,653 tonnes
*Calculations are by Bradley C. Peek , with methodology described in: Peek and Barrie, 2018 , NI43-101
report on Zeus Lithium Deposit for Noram Ventures Inc.: see www.noramventures.com.
The technical information contained in this news release has been reviewed and approved by Bradley C.
Peek, MSc and Certified Professional Geologist 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 / OTC PINK: NRVTF) is a Canadian based
junior exploration company, with a goal of developing 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/ “C. Tucker Barrie, Ph.D., P. Geo.”
President and CEO
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 o r implied by such
forward-looking information. Forward -looking information in this news release includes statements
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Suite 2150 - 555 West Hastings Street, Vancouver, BC, Canada, V6B 4N6
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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 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.