Noram Lithium Announces Appointment of Vice President, Project Development

Rhea-AI Summary

Noram Lithium Corp. has appointed Glenn Barr as Vice President of Project Development, effective immediately. Barr brings over 25 years of experience, notably from his previous role at Twin Metals Minnesota, where he oversaw complex mining project development. His expertise will be vital for advancing the Zeus Lithium Project in Nevada, characterized by significant lithium resources, including a measured and indicated estimate of 5.2 million tonnes of Lithium Carbonate Equivalent. The company is well-positioned with approximately CAD$14 million in cash and no debt as of December 31, 2022. Barr's focus will be on managing the Prefeasibility Study for the Zeus project, marking a strategic move for Noram as it aims to enhance its role in the U.S. lithium supply chain.

Positive

• Appointment of Glenn Barr as VP of Project Development, bringing extensive industry experience.
• Strengthening leadership focused on the Zeus Lithium Project.
• Well-funded with approximately CAD$14 million in cash and no debt, enhancing financial stability.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 14, 2023 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today it has appointed Mr. Glenn Barr as Vice President, Project Development, effective immediately.

Mr. Barr has more than 25 years of experience in complex mining project development. Most recently he was Vice President, Project Development at Twin Metals Minnesota (TMM). His work included leading engineering studies, overseeing metallurgical test work programs and integrating environmental protection measures into project design. Prior to TMM, he held various roles at Stantec and Teck. As an Engineering Liaison at Stantec, he guided the environmental and engineering consultants in ensuring alignment and work efficiencies. While at Teck, he was integral in the development and commercialization of a novel hydrometallurgical process, and was a key member of the team that engineered and constructed a hydrometallurgical processing plant in Brazil. Mr. Barr holds a Bachelor of Science, Chemistry from the University of Victoria.

"We welcome Glenn to Noram to the newly created position of Vice President, Project Development," stated Greg McCunn, CEO of Noram. "His extensive experience with flowsheet development, engineering studies and the permitting environment in the United States will be instrumental to our continued de-risking of the Zeus Lithium Project. Glenn's initial focus will be managing the Prefeasibility Study for Zeus being led by Ausenco."

About Noram Lithium Corp.

Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.

About the Zeus Project (100% Noram)

The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off¹.

Please visit our web site for further information: www.noramlithiumcorp.com.

Footnote
¹ Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).

Qualified Person

The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to Noram's Zeus Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for Noram.

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159

For additional information please contact:

Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798

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.

Cautionary Statement Regarding Forward Looking Information

^{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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.}

^{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.}

^{SOURCE: Noram Lithium Corp.}

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FAQ

Who is Glenn Barr, and what experience does he bring to Noram Lithium?

Glenn Barr has over 25 years of experience in mining project development, including significant roles at Twin Metals Minnesota, Stantec, and Teck.

What is the Zeus Lithium Project and why is it important for Noram Lithium?

The Zeus Lithium Project is located in Nevada and includes a significant lithium resource, positioning Noram as a key participant in the U.S. lithium market.

What are the immediate plans for Glenn Barr in his new role?

His initial focus will be on managing the Prefeasibility Study for the Zeus Lithium Project.

What are the financial standings of Noram Lithium as of December 31, 2022?

Noram Lithium has approximately CAD$14 million in cash and no debt, providing a solid financial foundation.