Noram Receives Results for CVZ-81 with High-Grade Long Intercept of 330ft with Weighted Average 1169 ppm Li and Li High of 1810 ppm

Rhea-AI Summary

Noram Lithium Corp. announced the completion of drill hole CVZ-81, reaching a depth of 451.5 feet, with the final assay results showing promising lithium mineralization. This hole marks the conclusion of Noram's Phase VI drilling program and has exceeded expectations, indicating significant improvements to the geological models for the Zeus deposit. The success of this drilling phase is projected to upgrade approximately 175 million tonnes of the deposit from inferred to indicated resource categories, bolstering the company's outlook.

Positive

• CVZ-81 drilling results exceeded expectations, indicating high-grade lithium mineralization.
• Approximately 175 million tonnes of lithium resource set to be upgraded from inferred to indicated category.
• Successful completion of Phase VI drilling program enhances the outlook for the Zeus deposit.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 30, 2022 / S andy MacDougall, CEO of Noram Lithium Corp. (" Noram " or the " Company ") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-81 (PH-03) and release of the final assay results. The Company completed core hole CVZ-81 at a depth of 451.5 feet (137.6 m). Sampling for assay began at 55 ft (16.8 m) and continued to the bottom of the hole, an interval thickness of 416.5 ft (126.9 m) was intersected. The hole ended in mineralization and the weighted average lithium values present were as follows:

CVZ-81 was the last hole drilled in Noram's Phase VI drilling program and had better than expected results, as did most of the holes in this in-fill drilling program. Now that the final assays are in, efforts are being focused on updating the geological/lithium grade models to be used in the upcoming PFS. The grades and thicknesses of mineralization seen in the Phase VI holes are anticipated to substantially improve the outlook for the Zeus deposit and upgrade approximately 175 million tonnes of the deposit from the inferred resource category to indicated resource." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.

Figure 1. Comparative stratigraphy and assay results for drill hole CVZ-81 as compared to CVZ-78 and CVZ-68, which were drilled as part of the Phases V and VI programs. As can be seen on the cross section, all 3 holes had long intercepts of high-grade lithium mineralization. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.

Hole ID	Sample No.	From (ft)	To (ft)	From (m)	To (m)	Li (ppm)
CVZ-81	1851338	35	45	10.7	13.7	960
CVZ-81	1851339	45	55	13.7	16.8	710
CVZ-81	1851340	55	65	16.8	19.8	830
CVZ-81	1851341	65	75	19.8	22.9	750
CVZ-81	1851342	75	85	22.9	25.9	950
CVZ-81	1851343	85	95	25.9	29.0	820
CVZ-81	1851344	95	107	29.0	32.6	1000
CVZ-81	1851345	107	118	32.6	36.0	800
CVZ-81	1851346	118	123	36.0	37.5	1020
CVZ-81	No Sample	123	124.5	37.5	37.9
CVZ-81	1851347	124.5	135	37.9	41.1	950
CVZ-81	1851348	135	145	41.1	44.2	1140
CVZ-81	1851349	145	155	44.2	47.2	1110
CVZ-81	1851350	155	165	47.2	50.3	1100
CVZ-81	1851351	165	175	50.3	53.3	1750
CVZ-81	1851353	175	185	53.3	56.4	1450
CVZ-81	1851354	185	195	56.4	59.4	1170
CVZ-81	1851355	195	205	59.4	62.5	1520
CVZ-81	1851356	205	215	62.5	65.5	1540
CVZ-81	1851357	215	225	65.5	68.6	1810
CVZ-81	1851358	225	235	68.6	71.6	1510
CVZ-81	1851359	235	245	71.6	74.7	1440
CVZ-81	1851361	245	255	74.7	77.7	1490
CVZ-81	1851362	255	265	77.7	80.8	1730
CVZ-81	1851363	265	275	80.8	83.8	1380
CVZ-81	1851364	275	285	83.8	86.9	1190
CVZ-81	1851365	285	295	86.9	89.9	1200
CVZ-81	1851366	295	305	89.9	93.0	1110
CVZ-81	1851367	305	315	93.0	96.0	1140
CVZ-81	1851368	315	325	96.0	99.1	1140
CVZ-81	1851369	325	335	99.1	102.1	1030
CVZ-81	1851370	335	345	102.1	105.2	930
CVZ-81	1851372	345	355	105.2	108.2	960
CVZ-81	1851373	355	365	108.2	111.3	1140
CVZ-81	1851374	365	375	111.3	114.3	660
CVZ-81	1851375	375	385	114.3	117.3	780
CVZ-81	1851376	385	395	117.3	120.4	730
CVZ-81	1851377	395	405	120.4	123.4	770
CVZ-81	1851378	405	415	123.4	126.5	820
CVZ-81	1851379	415	425	126.5	129.5	710
CVZ-81	1851380	425	435	129.5	132.6	790
CVZ-81	1851381	435	445	132.6	135.6	840
CVZ-81	1851382	445	451.5	135.6	137.6	860

Table 1 - Sample results from CVZ-81 from 35 ft to depth of 451.5 ft (10.7-137.6 m)

The samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.

Figure 2 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 holes completed for Phase VI. Phase VI holes are indicated in purple.

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 Lithium Corp.

Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.

The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off . In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.

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

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159

For additional information please contact:

Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653

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. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021)

SOURCE: Noram Lithium Corp.

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FAQ

What were the final results of the CVZ-81 drill hole for Noram Lithium Corp?

The CVZ-81 drill hole yielded better-than-expected lithium mineralization results, confirming high-grade lithium values over a significant depth.

How has the drilling program affected the Zeus deposit for NRVTF?

The completion of the drilling program is expected to upgrade around 175 million tonnes of the Zeus deposit from inferred to indicated resources, improving its economic viability.

What depth did the CVZ-81 drill hole reach?

The CVZ-81 drill hole reached a depth of 451.5 feet (137.6 m).

What is the significance of the Phase VI drilling program for Noram Lithium?

Phase VI's successful drilling results significantly enhance the geological and lithium grade models for the Zeus deposit, likely leading to improved resource classification.