Noram Completes CVZ-65: High of 1820 ppm Intersection of 270ft (82.3m) Averaging 1124ppm of Lithium

Rhea-AI Summary

Noram Ventures Inc. (TSXV: NRM) has completed core hole CVZ-65 at a depth of 297 feet, confirming the presence of significant lithium mineralization. The hole intersected an interval of 270 ft with notable lithium concentrations, with values as high as 2,900 ppm. The Zeus Lithium Project in Clayton Valley, Nevada, has a resource estimate of 124 million tonnes at 1,136 ppm lithium indicated, and 77 million tonnes at 1,045 ppm inferred. The company's strategy aims to become a low-cost lithium supplier in North America, Europe, and Asia.

Positive

• Completion of drill hole CVZ-65 indicates strong lithium mineralization with high ppm values.
• Zeus Lithium Project has a significant resource estimate of 124 million tonnes at 1,136 ppm lithium.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 18, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM)(Frankfurt:N7R)(OTCQB:NRVTF) is pleased to announce the successful completion of CVZ-65. The Company completed core hole CVZ-65 at a depth of 297 feet (90.5 m) and was pleased to note that this Is yet another hole in which mineralization essentially began at surface. An interval of 270 ft (82.3 m) was intersected from 12 ft (3.7 m) to 282 ft (86.0 m).

Figure 1a) Strip Log of CVZ-65 outlining the various claystone types encountered at depth from the surface to 297ft 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.

Hole ID	Sample No.	From (ft)	To (ft)	Li (ppm)
CVZ-65	1710279	12	22	860
CVZ-65	1710280	22	32	970
CVZ-65	1710281	32	42	750
CVZ-65	1710282	42	52	900
CVZ-65	1710283	52	62	930
CVZ-65	1710284	62	72	610
CVZ-65	1710285	72	82	1010
CVZ-65	1710286	82	92	1040
CVZ-65	1710287	92	102	1190
CVZ-65	1710288	102	112	1330
CVZ-65	1710289	112	122	1110
CVZ-65	1710290	122	132	1560
CVZ-65	1710291	132	142	1820
CVZ-65	1710292	142	152	1760
CVZ-65	1710293	152	162	1180
CVZ-65	1710294	162	172	1460
CVZ-65	1710295	172	182	1460
CVZ-65	1710296	182	192	1480
CVZ-65	1710297	192	202	1140
CVZ-65	1710298	202	212	940
CVZ-65	1710299	212	222	1020
CVZ-65	1710300	222	232	870
CVZ-65	1710301	232	242	890
CVZ-65	1710303	242	252	900
CVZ-65	1710304	252	262	1220
CVZ-65	No Sample	262	272	1060
CVZ-65	1710305	272	282	900
CVZ-65	1710306	282	297	470

Table 1 - Summary of sample results from CVZ-65 from surface to depth of 297ft.

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 were the results of the CVZ-65 drilling completed by Noram Ventures?

The CVZ-65 drilling confirmed significant lithium mineralization with values reaching up to 2,900 ppm across a 270 ft interval.

What is the resource estimate for the Zeus Lithium Project?

The Zeus Lithium Project has an indicated resource of 124 million tonnes at 1,136 ppm lithium and an inferred resource of 77 million tonnes at 1,045 ppm lithium.

What is Noram Ventures' strategy for lithium production?

Noram Ventures aims to develop lithium deposits and become a low-cost supplier for markets in Europe, North America, and Asia.

When was the CVZ-65 drilling completed?

The CVZ-65 drilling was announced as completed on February 18, 2021.