Noram Ventures and Alba Minerals Sign Definitive Property Option Agreement to Advance Clayton Valley and Hector Lode Lithium Brine/Clay Projects
TSX.V: NRM
Frankfurt: N7R
OTCBB: NRVTF
FOR IMMEDIATE RELEASE
NORAM VENTURES AND ALBA MINERALS SIGN
DEFINITIVE PROPERTY OPTION AGREEMENT TO
ADVANCE CLAYTON VALLEY AND HECTOR LODE
LITHIUM BRINE/CLAY PROJECTS
Vancouver, British Columbia, February 22nd 2017 – Noram Ventures Inc. (“Noram”) (TSX-V: NRM
/ Frankfurt: N7R / OTCBB: NRVTF) is pleased to announce the signing of a definitive property
option agreement (the “Option Agreement”) with Alba Minerals Ltd. (“Alba”) to acquire up to 50%
of Noram’s wholly -owned subsidiary Green Energy Resources Inc., which holds lithium brine/clay
claims at Clayton Valley, Nevada and the Hector Lode lithium claims in San Bernardino County,
California.
Clayton Valley Lithium Project:
Green Energy has amassed one of the largest land packages in Nevada’s Clayton Valley. Its non-contiguous
North and South Blocks now total 888 claims (17,738 acres) and are positioned both north and south of
Albemarle Corp.’s Silver Peak mine, North America’s only lithium producer.
The perimeter of the Clayton Valley claims is located within 1 mile (1.6 kilometers) of Albemarle’s
operations, where lithium is produced from deep wells that pump brines from the basin beneath the Clayton
Valley playa. The plant is the only lithium producer in the United States and has been producing lithium at
this location continuously since 1967.
Hector Lode Lithium Project:
The Agreement also includes the 100%-owned Hector Lode property encompassing 116 lithium mineral
claims (2,320 acres) in San Bernardino County, California, where surface sampling has confirmed the
presence of lithium in hectorite clays. Material is currently being mined on adjacent ground as
bentonite/hectorite clays. An initial core drilling program is now under consideration for the property.
Terms of the Option Agreement:
In order to keep the Option in good standing and in force and effect, Alba shall subject to Exchange and
regulatory approval:
(a) Make mandatory payments in the aggregate of C AD$255,000 to Green Energy on completion of
the Phase 1 drilling program in Clayton Valley, to earn a 25% interest in the Claims. For greater
certainty, this payment is an obligation and not optional and upon payment of the said amount Alba
will become the owner of the said 25% interest without having to give Exercise Notice;
(b) Make a certain second payment of CAD$200,000 to Green Energy on or before March 30th, 2017
or at such tim e as the National Instrument 43-101 Technical Report on the Phase 1 drilling results
is completed, whichever is later, to earn an additional 5% for a total 30% interest in the Claims;
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(c) Make a third payment of C AD$200,000 to Green Energy on or before May 30th 2017 , in order
earn an additional 5% for a total 35% interest in the Claims;
(d) Make a fourth payment of CAD$289,500 to Green Energy on or before August 25th 2017, in order
to earn an additional 10% for a total 45% interest in the Claims;
(e) Make a fifth payment of C$155,500 to Green Energy and issue an aggregate of 1,000,000 share
capital of Alba ( the “Alba Shares”) to Noram on or before November 30 th 2017, in order to earn
and additional 5% for a total and maximum 50% interest in the Claims;
“We are pleased to have signed this agreement with Alba, which is another significant step in establishing
Noram’s role in the Green Energy Revolution through the development of our lithium assets,” said Mark
Ireton, President of Noram . We are also very en couraged by the initial assay results from Phase 1 drilling
on our Clayton Valley claims, where assay sample results from the first 10 holes of the 4 6-hole program
return the highest l ithium values to date ranging from 600 ppm to a high of 2,320 ppm over 1 .22 meters
with an interval-weighted average value of 1,087 ppm lithium (see news release of February 15).”
The technical information contained in this news release has been reviewed and approved by Bradley Peek,
MSc and Certified Professional Geologist , who is a Qualified Person with respect to Noram’s Clayton
Valley and Hector Lode Lithium Projects as defined under National Instrument 43-101.
About Noram Ventures Inc.:
Noram Ventures Inc. ( TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF ) is a Canadian based
junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the
development of lithium and graphite deposits and becoming a low-cost supplier for the burgeoning lithium
battery industry. The Company’s primary business focus since formation has been the exploration of
mineral properties. Current projects in clude lithium properties in the Clayton Valley of Nevada and the
Hector Lode in San Bernardino County, California; and the Jumbo graphite property in southeastern British
Columbia. Noram’s long term strategy is to build a multi -national lithium -graphite do minant industrial
minerals company to produce and sell lithium and graphite 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
This news release contains projections and forward -looking information that involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties
and are not guarantees of future performance of the Company. The following are important factors that could cause the Compan y’s actual results
to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitabil ity; and the uncertainty
of access to additional capital. These risks and uncertainties could cause actual results and the Company 's plans and objectives to differ materially
from those expressed in the forward -looking information. Actual results and future events could differ materially from anticipated in such
information. These and all subsequent written and oral forward -looking information are based on estimates and opinions of management on the
dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update for ward-looking
information should circumstance or management's estimates or opinions change.
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.