NORAM LITHIUM CORP - NRVTF STOCK NEWS

Noram Lithium Corp. has completed drill hole CVZ-73 at its Zeus lithium clay deposit in Nevada, reaching a depth of 458 ft (140 m). Visual inspections revealed high lithium-grade clays near the surface, with a total drilled interval of 438 ft (133.5 m). This marks the third hole in the Phase VI drilling program, aimed at upgrading 175 million tonnes of inferred resources to indicated status. Assay results are pending, which will impact the upcoming Pre-Feasibility Study. The Zeus Project hosts significant lithium resources, reinforcing its development potential.

Noram Lithium Corp. announced the successful completion of core hole CVZ-70 in their Clayton Valley Lithium Project, reaching a depth of 463 feet and intersecting a total thickness of 443 feet of lithium-bearing material. The weighted average lithium concentration was reported at 968.0 ppm, with higher values in certain intervals. This accomplishment marks the first hole in their 12-hole Phase VI drilling program, aimed at upgrading resources. CEO Sandy MacDougall emphasized the commitment to sustainability and shareholder value as the company progresses towards a Pre-Feasibility Study in 2022.

Noram Lithium Corp. has completed drill hole CVZ-72 to a depth of 428ft (130.5m) at its Zeus lithium clay deposit in Nevada. The drilling confirmed significant lithium-rich clay intersections, extending to a depth of 400ft (121.9m) over 323ft (98.4m). This hole is part of the Phase VI program aimed at upgrading approximately 175 million tonnes of inferred resources. Core samples from CVZ-72 have been sent for assay processing with results pending. The company boasts an inferred resource of 827 million tonnes grading 884 ppm lithium.

Noram Lithium Corp. has completed its CVZ-70 drill hole at the Zeus lithium clay deposit in Nevada, reaching a depth of 463 ft (141.1m). The drilling revealed a significant intersection of mineralization from surface to 387 ft (116m), comparable to previous successful holes. This is part of a 12-hole Phase VI drilling program aimed at upgrading an estimated 175 million tonnes of an 827 million tonne Inferred Resource. Results from the core samples are pending, while the company has a strong financial position with over US$18 million in treasury.

Noram Lithium Corp. has appointed Bradley C. Peek as Vice President of Exploration. The company has received final permits for a 12-hole in-fill drilling program at the Zeus Lithium Project in Nevada, aimed at upgrading resources from Inferred to Indicated. The current NI-43-101 resource estimates 363 million tonnes at 923 ppm lithium. A pre-feasibility study is set to be completed by the end of 2022, following positive results from a Preliminary Economic Assessment indicating an NPV of US$2.67 billion and an IRR of 52%.

Noram Lithium Corp. has successfully closed a US$14 million strategic financing agreement with Lithium Royalty Corp. and Waratah Capital Advisors. This deal includes a 1.0% gross overriding royalty on its Zeus Lithium Project for US$5.0 million and a US$9.0 million equity investment. With this funding, Noram’s working capital is now approximately CDN$18 million and entirely debt-free. The proceeds will accelerate the advancement of the Zeus project and a pre-feasibility study set for the second half of 2022.

Noram Lithium Corp. has signed a binding letter of intent with Lithium Royalty Corp. and Waratah Electrification and Decarbonization for a strategic investment totaling USD$14 million. This includes a 1.0% gross overriding royalty sale on the Zeus Lithium Project for USD$5 million and a USD$9 million equity placement. The investment is aimed at advancing the Zeus project, which has a robust NPV of USD$2.67 billion based on recent assessments. Due diligence is currently in progress, with completion anticipated by February 25, 2022.

Noram Lithium Corp. has released a Preliminary Economic Assessment (PEA) for its Zeus Lithium Project, near Albermarle's Silver Peak Mine. Key findings include a Net Present Value (NPV) of $1.299 billion, an Internal Rate of Return (IRR) of 31%, and a 40-year mine life. Estimated capital costs are $528 million with a payback in 3.23 years. The operating cost is projected at $3,355.30/tonne Lithium Carbonate Equivalent, with an annual gross revenue of $303.4 million. The project boasts a low environmental impact and is accessible via established roads.

Noram Lithium Corp. has appointed Peter A. Ball as President and Chief Operating Officer, enhancing its senior management as it prepares to develop its 100%-owned Zeus Lithium Project in Nevada. The project is progressing towards production with an upcoming Preliminary Economic Assessment (PEA), expected to be completed by year-end 2021. Ball, with over 30 years in mining and finance, aims to leverage current market opportunities in the lithium sector. The company also granted 1,000,000 stock options at $0.77 per share, valid for ten years.