Noram Successfully Overcomes Attempted Overstaking BY Centrestone Resources Llc
TSX.V: NRM
Frankfurt: N7R
OTCPINK: NRVTF
FOR IMMEDIATE RELEASE
NORAM SUCCESSFULLY OVERCOMES ATTEMPTED OVERSTAKING BY
CENTRESTONE RESOURCES LLC
Vancouver, British Columbia – January 17, 2019 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt:
N7R / OTCPINK: NRVTF announced on January 11, 2019, the triumphant end to the litigation against Centrestone
Resources LLC (“Centrestone”), a Nevada limited liability company which maintains its registered office at 5348 Vegas
Drive, Las Vegas, Clark County, Nevada for the trespassing and the overstaking of Noram’s Property in Clayton Valley.
The parties to the litigation came to a final settlement agreement on January 10, 2019 in which Noram agreed to vacate
the injun ction hearing based on Centrestone’s complete withdrawal from the Zeus Property, the dismissal of the
countersuit against Noram, a cash consideration of $50,000 USD and numerous other commitments that prohibit any
future conflict or contest with respect to the interest rights on the Zeus Property.
Background
Noram first became aware of the trespassing and unpermitted exploration activities that infringed upon the Company’s
Clayton Valley Project unpatented mining claims in early May. The Company’s representatives communicated verbally
to the parties on the mining claims that their activities were neither permitted nor permissible, however the other parties
continued to enter the mining claims. On May 24, 2018 the Company delivered to Centrestone a letter of demand to
cease its entry and activities on the mining claims. The Company received no response from Centrestone.
As a result, in the best interest of the Company and its Shareholders, the Company filed a Complaint (the “Complaint”)
in the Fifth Judicial Court of the State of Nevada in and for the County of Esme ralda on June 7, 2018 to preserve its
rights in its unpatented mining claims and to prohibit Centrestone from entering on the mining claims. The Compliant
included, but was not limited to the following:
1) the trespassing onto the Company’s Clayton Valley C laims (the “GER Claims” or the “Claims”) and the
purported location of unpatented lode claims over most, if not all, of the Company’s claims. The claims were
not located in good faith or in compliance with applicable laws;
2) damages resulting from the trespass and interference with the Company’s business and business opportunities;
and
3) wrongful and tortious slander of the Company’s title to the Property and irreparable harm should this conduct
not be enjoined.
The Company sought relief that the Claims are valid subsisting unpatented mining claims and that the Company is
entitled to exclusive possession, occupancy and use of the Claims and the public lands appropriated by Noram, as well
as to any valuable minerals and mineral deposits contained in, on or under the Claims, subject to the paramount title of
the United States. Furthermore, the Company sought relief that the Centrestone Claims are declared null and void, that
Centrestone has no right, title, claim or interest in the Claims, the public lands appropriated by them or any valuable
minerals or mineral deposits contained in, on or under the Claims. Lastly, Noram sought a monetary judgement against
Centrestone, including but not limited to: trespass damages, damages related to the unlawful appropriation, actual
damages, punitive damages, special and statutory damages.
Subsequent to filing the Notice, the Company received a response which denied the allegations material to the Notice.
Additionally, the Company was provided with a Counterclaim (the “Counterclaim”) which purported that Centrestone
had rightful title to the Claims and that Noram trespassed on their claims and improperly located the claims comprising
the Clayton Valley property.
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]
In an effort to ex pedite the legal proceedings, the Company filed a notice of motion for preliminary injunction in the
State of Nevada which would require Centrestone to refrain from (a) entering onto or upon the area delineated by the
exterior boundaries of the claims for the purpose of exploring for minerals, mining, excavating, extracting, removing or
carrying away any earth, rock or minerals from within the vertical planes formed by the boundaries of the claims; and
(b) from constructing on the claims any equipment, impr ovements, infrastructure, or other installations which might
delay, hinder, interfere with, or otherwise obstruct the mineral exploration, development and mining operations of
Noram. A hearing time and date were set by the Fifth Judicial district court of the State of Nevada in and for the County
of Esmeralda on January 11, 2019 in Goldfield, Nevada.
Mr. Ireton, (President and CEO), Mr. Brown (Director) and Ms. Algie (CFO) as well as the Company’s QP and landmen
travelled to Nevada in preparation to attend the Preliminary Injunction hearing and present the facts of the overstaking
with the intention of seeking injunctive relief, as previously detailed in the Company’s news release dated October 19,
2018. The hearing was vacated upon successful settlement as detailed above.
“Noram’s board, management and team on the ground worked both diligently and efficiently to resolve this blatant
attempt to infringe upon our Company and the significant resource we have been dedicated to developing. We are
incredibly proud of the efforts and investments of time and energy made by everyone in order to put a triumphant end
to this situation” stated Mr. Ireton.
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 deve loping lithium deposits and becoming a low - cost supplier. The Company’s
primary business focus since formation has be en 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/ “Mark R. Ireton”
President & Director
Direct: (604) 761-9994
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 opportuni ties 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 informati on, 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.