Noram Reviews Global Lithium Supply and Demand as Context FOR Developing the ZEUS Lithium Claystone Deposit
TSX.V: NRM
Frankfurt: N7R
OTCPINK: NRVTF
FOR IMMEDIATE RELEASE
NORAM REVIEWS GLOBAL LITHIUM SUPPLY AND DEMAND AS CONTEXT FOR
DEVELOPING THE ZEUS LITHIUM CLAYSTONE DEPOSIT
Vancouver, British Columbia – July 23, 2020 – Ahead of Noram Ventures Inc. (“Noram”) (TSX - Venture:
NRM / Frankfurt: N7R / OTCPINK: NRVTF ) drill campaign and engineering/economic studies in Q3/Q4
2020, management would like to summarize the current environment for global lithium supply and demand.
Noram’s Zeus lithium claystone deposit has, a t a 900 ppm lithium cut-off, 124 million tonnes at 1136
ppm lithium as indicated resources, and 77 million tonnes lithium at 1045 ppm lithium as inferred
resources (0.75 and 0.43 million tonnes lithium carbonate equivalent – “LCE” , respectively; see Noram
press release February 5, 2020, and Peek and Barrie, 2019: NI43 -101 report on Zeus lithium claystone
deposit: www.noramventures.com/projects/clayton-valley/technical-report/). The deposit is at surface and to
a depth of 60 -100 meters in unlithified claystone material. There are over two square kilometers of fertile
ground yet to be drill-tested on the Zeus property.
Figure 1. Location of six major lithium claystone deposits in t he western USA and northern Mexico including Noram
Ventures’ Zeus lithium claystone deposit in Clayton Valley Nevada. The Silver Peak lithium brine operations are shown
as a red star in the inset map. The Tesla Gigafactory next to Sparks, Nevada is shown a s the red box in the main map.
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]
Lithium Supply - Global lithium resources are present in brine, pegmatite and claystone deposits. In 2019,
there were only twelve lithium operations of significance globally. The USGS reports that “six mineral
operations in Australia, two brine operations each in Argentin a and Chile, and one brine and one mineral
operation in China accounted for the majority of world lihiuim production (Table 1) . Owing to
overproduction and decreased prices, several est ablished lithium operations postponed capacity expansion
plans. Junior mining operations in Australia, Canada, and Namibia ceased production altogether.” /1/
In North America, the sole lithium producer is Albemarle’s Silver Peak brine operations, which have been in
production for over 60 years (~3500 tonnes lithium carbonate equivalent (LCE) produced in 2019: table 1).
Silver Peak is surrounded by a number of lithium claystone deposits that are poised for expansion and
development, including Noram’s Zeus project, Cypress Development’s TLC project, Ioneer’s Rhyolite Ridge
project and American Lithium’s TLC project. Two other lithium claystone deposits of significance are in
the Cordillera of the USA and Mexico: Lithium America’s Thacker Pass Project and Bacanora’s Sonora
project (Figure 1).
Lithium Demand - The USGS estimates that global end -use markets for lithium in 2019 are as follows:
batteries 65%, ceramics andglass 18%, lubricating greases 5% polymer production 3%, continuous casting
mold flux powders 3% air treatment 1% and other uses 5%. Global lithiu m consumption in 2019 was
estimated to be 57,700 lithium metal or 307,000 tonnes LCE (table 2). Rodney Hooper (2020 -06 - /2/) , a
global lithium expert states that “ Lithium demand from batteries is set to grow to >800,000 tonnes LCE by
2025 from a base of ~190,000 tonnes LCE in 2019 . The majority of that growth will be driven by electriv
vehicles (EV) powered by tier 1 batteries with long-dated warranties.” Hooper continues, “Unexpected EV
"under demand" in 2019/2020 has resulted in oversupply; however, through a combination of government
incentives, penalties & model launches in key auto segments, 2021 & 2022 should deliver unprecedented
demand growth.”
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]
C. Tucker Barrie, President and CEO of Noram Ventures Inc., comments: “ Experts like Ronald Hooper
concur with the major banks (e.g., J.P. Morgan, Deutchebank, Goldman Sachs, others) that the global lithium
demand is effectively controlled by the demand for electric vehicles, and that the demand for EVs will
increase threefold in the next five years. Although there is spare production capacity in the larger lithium
sources, it appears that in late 2022 to early 2023 the supply will not meet this rapidly increasing demand,
and this high demand will only increase in the following decade.
Tesla alone plans produce ~400,000 electric vehicles ths year, and aims to produce >2,000,000 electric
vehicles in 2025. Each electric vehicle battery pack uses ~50-80 kg lithium carbonate equivalent. There are
ten other major auto producer s ramping up production for electric vehicles globally. We look forward to
further exploration and development of our Zeus lithium claystone deposit in Nevada.”
/1/ USGS Lithium Data Sheet 2020
/2/ Rodner Hooper https://www.linkedin.com/in/rodneyhooper/
The technical information contained in this news release has been reviewed and approved by C. Tucker
Barrie, Ph.D., 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 / 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.
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]
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
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