Vancouver, British Columbia – February 27, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt: N7R / OTCPINK: NRVTF) retracts specific statements within press releases of February 26 and February 5, 2020, in keeping with NI 43-101 standards, and following guidance provided by the Investment Industry Regulatory Organization of Canada (IIROC), the Regulation Services Provider. These news releases were not pre-filed with IIROC.
In both news releases, data were presented that added inferred mineral resources to indicated mineral resources, which is prohibited by section NI 43-101, 2.2(c). In the February 26 news release, an estimate of the in-situ value resource was given, based on current lithium carbonate prices and the total lithium carbonate equivalent in-situ for the total indicated and inferred resources. This is prohibited as per NI 43-101, 2.3 (c). In the same news release, an economic comparison was made between the lithium claystone deposit on Noram’s Zeus property, within the Miocene to Pliocene Esmeralda Formation playa lakebed sediments, with the lithium claystone deposit on the adjacent property, also within the Esmeralda Formation. This is prohibited as per NI 43-101 2.3 (1) (b) as potentially misleading information, as there are no published economic studies of the Zeus deposit to date.
All other information in these news releases remains as stated.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist 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 / OTCPINK: 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/ “C. Tucker Barrie, Ph.D., P. Geo.”
President and CEO
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.