Noram Receives Results for CVZ-66: High of 1540 ppm Intersection of 220ft (67.1 m) Averaging 1124 ppm of Lithium

Rhea-AI Summary

Noram Ventures Inc. has successfully completed drilling core hole CVZ-66 at a depth of 462 feet, significantly expanding its lithium resource at the Zeus Property in Clayton Valley. The drilling revealed an interval thickness of 220 feet with mineralization still present at depths of 500 feet. The company reports some of the deepest and thickest high-grade lithium intersections in the area, with consistent lithium grades across various claystone types. Current estimates show 124 million tonnes at 1136 ppm lithium as Indicated Resource and 77 million tonnes at 1045 ppm as Inferred Resource.

Positive

• Successful completion of CVZ-66 drilling, expanding lithium resource.
• Encountered high-grade lithium mineralization at significant depths.
• Current resource estimates indicate 124 million tonnes at 1136 ppm lithium.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 2, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM)(Frankfurt:N7R)(OTCQB:NRVTF) is pleased to announce the successful completion of CVZ-66. The Company completed core hole CVZ-66 at a depth of 462 feet (140.8 m). An interval thickness of 220 ft (67.1 m) was intersected from 212 ft (64.6 m) to 432 ft (131.7 m).

"We are incredibly proud of our progress to date and in particular this phase of drilling. The current resource has been expanded exponentially by successfully drilling previously unexplored areas of the Zeus Property to depths of 500 ft and still ending in mineralization. As far as we are aware, these are some of the deepest and thickest high grade intersections encountered in Clayton Valley" comments Anita Algie, CFO and Director.

Figure 1a) Strip Log of CVZ-66 outlining the various claystone types encountered at depth from the surface to 432 ft (140.8 m) b) Zeus Property map showing a) location of current Indicated and Inferred resources at >900ppm Li cut-off; b) location of drill sites completed or in progress (seen in green) to date for the Phase V 2020 program. Proposed drill sites not yet explored indicated in white.

Bore	Sample No.	From (ft)	To (ft)	Li (ppm)
CVZ-66	1710311	142	152	670
CVZ-66	1710313	152	162	710
CVZ-66	1710314	162	172	810
CVZ-66	1710315	172	182	800
CVZ-66	1710316	182	192	760
CVZ-66	1710317	192	202	800
CVZ-66	1710319	202	212	700
CVZ-66	1710320	212	222	1120
CVZ-66	1710322	222	232	960
CVZ-66	1710323	232	242	900
CVZ-66	1710324	242	252	860
CVZ-66	1710325	252	262	1540
CVZ-66	1710326	262	272	1320
CVZ-66	1710327	272	282	1250
CVZ-66	1710328	282	292	1460
CVZ-66	1710329	292	302	1500
CVZ-66	1710330	302	312	1360
CVZ-66	1710331	312	322	1250
CVZ-66	1710332	322	332	1200
CVZ-66	1710333	332	342	1160
CVZ-66	1710334	342	352	1110
CVZ-66	1710335	352	362	1100
CVZ-66	1710336	362	372	1010
CVZ-66	1710338	372	382	910
CVZ-66	1710339	382	392	940
CVZ-66	1710340	392	402	990
CVZ-66	1710341	402	412	940
CVZ-66	1710342	412	422	830
CVZ-66	1710343	422	432	1020
CVZ-66	1710345	432	442	750
CVZ-66	1710346	442	452	580
CVZ-66	1710347	452	462	700

Table 1 - Summary of sample results from CVZ-66 from surface to depth of 462 ft.

"I am very encouraged by the consistent thickness and grade of the claystones encountered in our Phase V drilling. While the color of the claystones may vary, the high lithium grades have been constant thus far and each drill hole is adding tens of millions of tons to Noram's next resource estimate", comments Brad Peek, consulting geologist on all five phases of Noram's Clayton Valley exploration drilling.

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 Clayton Valley Lithium Project as defined under National Instrument 43-101.

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 Resource, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resource (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 are the results of the CVZ-66 drilling by Noram Ventures?

The CVZ-66 drilling revealed high-grade lithium mineralization with an interval thickness of 220 feet at a depth of 462 feet.

What is the current lithium resource estimate for Noram Ventures?

Noram Ventures has an Indicated Resource of 124 million tonnes at 1136 ppm lithium and an Inferred Resource of 77 million tonnes at 1045 ppm lithium.

How deep was the CVZ-66 hole drilled in Clayton Valley?

The CVZ-66 hole was drilled to a depth of 462 feet, with mineralization continuing at depths of 500 feet.

What is the significance of the drilling results for NRVTF stockholders?

The successful drilling results indicate potential for increased lithium resource, which may enhance NRVTF's market value.