Noram Clarifies Technical Disclosure on Jumbo & Kokanee Properties
Vancouver, British Columbia – September 12, 2013 – Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) reports that as a result of a review by the British Columbia Securities Commission (the “BCSC”), we are issuing the following news release to clarify our disclosure.
On March 6, 2013 the Company filed a report titled “Technical Report on the Kokanee and Jumbo Graphite Properties, Slocan Mining Division, British Columbia”, by John R. Kerr, P.Eng., dated March 6, 2013 (the report). The report estimated various ranges of tonnage and graphite grade for the company’s Kokanee graphite property. Then on March 8, 2013, the Company voluntarily filed an Amended Technical Report with the same title, author and date (the amended report), to clarify the status of these estimates, including the addition of cautionary language required by National Instrument (NI) 43-101 for disclosure of an exploration target. However, despite the addition of cautionary language, the amended report continued to include information which may have caused readers to wrongly interpret the graphite estimate on the Kokanee Property as a mineral resource, or implied the estimate is a mineral resource. Similar issues occurred in the company’s August 2013 corporate presentation and in some of its news releases since February 26, 2013. In addition, the amended report contained information relating to the Jumbo property that may have implied a minimum quantity and graphite grade when there has been insufficient exploration to define a mineral resource on the property.
The Company retracts all previous disclosure that: (1) may have implied the estimate on the Kokanee property is or can be compared to a graphite resource estimate; and (2) information relating to the Jumbo property that may have implied a minimum quantity and grade as there has been insufficient exploration to define a mineral resource on either property. The retraction includes news releases issued by the Company that in turn were published by third parties, information on the Company’s website and corporate presentations.
On September 12, 2013 the Company filed a second and final Amended Technical Report with the same title and author, dated September 4, 2013 and effective March 6, 2013 (the final amended report) that corrects items not in compliance with the requirements of NI 43-101 and clarifies the status of the Kokanee estimate.
The Company is restating the estimate on the Kokanee property as an exploration target based on the 2012 drill results showing potential of 15,000,000 to 22,500,000 tonnes grading 1.65 – 1.80% graphite being present to down-dip depths of 100 to 150 meters and along a strike length of 1200 meters (see the final amended report on SEDAR for details).
Cautionary note: the potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a mineral resource; and it is uncertain if further exploration will result in discovery of a mineral resource.
John R. Kerr, P.Eng. and independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical content of this news release on behalf of the Company.
The Company has also amended its website and corporate presentation to comply with the requirements of NI 43-101.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM) is a Canadian based mineral exploration company with a project generator business model. The Company’s strategy is to identify and acquire early-stage properties and create value through the initial drilling and discovery phase. Noram’s current portfolio includes four exploration properties in the central Kootenay region of southern British Columbia: the Amazing Grace gold property, the Jumbo flake-graphite property, the Kokanee flake-graphite property and the Silver Hill molybdenum-galena property.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David W. Rees”
President & Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding exploration work on the properties and the completion of the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, and (7) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.