Vancouver, British Columbia – December 3, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce that the Company has resumed drilling after the US Thanksgiving holiday with two drills and two crews. The LF-70 rig is completing CVZ-62 and the second crew has started CVZ-63 (Site A as previously announced in news release titled “Noram Receives Permits for Zeus Fall Phase V Drill Campaign and Commences Drilling” dated November 10, 2020) with a Longyear 44. The Company intends to complete all 12 holes this month. Additionally, the Company has been in contact with the Bureau of Land Management and is anticipating the expansion of the permit to include all 12 holes in very short order.
Upon completion of CVZ-61 (with one of the longest lithium claystone intervals to date – see release dated November 17, 2020 titled “Noram Drills One of the Thickest Claystone Intersections to Date in Previously Undrilled Area”), the Company immediately sent samples to ALS Labs located in Reno, Nevada for processing on a rush basis due to favourable visual inspections of the core. An overview of the stratigraphy and the corresponding core photos is exhibited below.
Figure 1. Stratigraphy and core photos for drill hole CVZ-61. This drill hole has 91 meters of lithium claystone in units of variable color. All of the claystone units except the brown silty claystone have relatively high lithium concentrations in previous drill holes on the property.
“Noram is exceptionally pleased with Phase V to date, the immense support of the market and our loyal shareholder base. We passionately believe in the value of the Zeus Project and have gone to exceptional lengths to protect this asset from unlawful actions and succeed despite challenging conditions. Management does not take fees or salaries and we have contributed the bulk of the funding since the maiden resource was first discovered. The focus of which is to minimize dilution and maximize share value. With the next significant milestones fully funded, we will aggressively move forward as a major player in Clayton Valley and in the future of lithium claystone extraction” stated Anita Algie, CFO and Director.
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 focus since formation has been the exploration of mineral projects. 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.