Noram Engages ABH Engineering to Complete Preliminary Economic Assessment of Zeus Property

Rhea-AI Summary

Noram Ventures Inc. has partnered with ABH Engineering to conduct a preliminary economic assessment (PEA) of the Zeus Lithium Project in Clayton Valley, Nevada. ABH, recognized as Canada’s fastest-growing mining engineering firm, will ensure compliance with NI 43-101 regulations. The project aims to evaluate production scenarios and enhance cash flow, capitalizing on rising lithium demand. Noram's Zeus Project holds a resource estimate of 124 million tonnes at 1136 ppm lithium for indicated resources and 77 million tonnes at 1045 ppm lithium in inferred resources.

Positive

• Engagement of ABH Engineering enhances project credibility.
• Zeus Lithium Project has strong resource estimates: 124 million tonnes at 1136 ppm lithium indicated and 77 million tonnes at 1045 ppm lithium inferred.
• Partnership aims to minimize project risk and optimize production scenarios.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 29, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSX - Venture:NRM) (Frankfurt:N7R) (OTCQB:NRVTF) is pleased to announce that the Company has engaged ABH Engineering ("ABH"), a mineral processing engineering company offering design and optimization services to the mining sector, to complete a preliminary economic assessment of the Zeus Project.

ABH Engineering is Canada's fastest growing mining engineering company, focused on mineral processing and advancing mining projects. ABH is currently performing several NI 43-101, JORC, and S-K 1300 compliant reports, as well as numerous smaller projects and studies. ABH has assigned Brent Hilscher P.Eng., Dr Amit Kumar and Dr Naeimeh Ghaffari Touran to the project. The team will oversee the creation of a PEA report compliant with current NI 43-101 regulations. Emphasis will be placed on minimizing overall project risk.

Brent Hilscher has 20 years in mining and mineral processing. He has designed, commissioned, operated, and supervised mineral processing plants. He has published papers, patented technologies, and been a speaker at over a dozen conferences and universities in Canada and around the world.

Brent has led design, and construction projects for Teck, Goldcorp, New Gold, Barrick, Xstrata, Agnico Eagle, and many others. He won the National CMP Bill Moore Award for technical excellence in 2013 and served as an officer in the Canadian Armed Forces.

Because of his technical reputation Brent has been consulted as a senior advisor for the World Bank, and NASA mining research projects. He has volunteered as an executive for both the CIM and CMP. In addition to mining projects, he has also worked on mining innovation projects for both the United Nations and the Government of Canada.

"We are extremely proud to be working with ABH. The Company's reputation proceeds itself and we will be taking a significant step forward for Noram with their support. Together with their senior team, Noram will determine the best scenario for production and positive cash flow. With strong economics, upward pressure on pricing in 2021 beyond expectation, and a focus on domestic supply chains; new supply is quintessential to the growing demand. Noram is and will continue to be at the forefront of this," stated Anita Algie, CFO and Director.

About Noram Ventures Inc.

Noram Ventures Inc. (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: 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 is the Zeus Lithium Project ("Zeus") in Clayton Valley, Nevada. The Zeus Project has a current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resources (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent - "LCE".

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/ "Anita Algie"
Director and CFO
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 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 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.

SOURCE: Noram Ventures Inc.

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FAQ

What is the recent news about Noram Ventures Inc. (NRVTF)?

Noram Ventures Inc. has engaged ABH Engineering to conduct a preliminary economic assessment of the Zeus Lithium Project, aiming to evaluate production scenarios.

What are the resource estimates for the Zeus Lithium Project?

The Zeus Lithium Project has a resource estimate of 124 million tonnes at 1136 ppm lithium as indicated resources and 77 million tonnes at 1045 ppm lithium as inferred resources.

Who is ABH Engineering in relation to Noram Ventures Inc.?

ABH Engineering is a mineral processing engineering firm engaged by Noram Ventures Inc. to complete a preliminary economic assessment of the Zeus Project.

What is the significance of the preliminary economic assessment for NRVTF?

The preliminary economic assessment is significant as it aims to outline production scenarios and enhance cash flow for Noram Ventures Inc.'s Zeus Lithium Project.