Update On Zeus Property In Central Nevada

VANCOUVER, BC - Noram Ventures Inc. plans for a Q3-Q4 2020 drill campaign and a Preliminary Economic Assessment on its Zeus lithium claystone property. Currently a review of recent developments in central Nevada is warranted. Noram's Zeus lithium claystone deposit has, at a base case 900 ppm lithium cut-off, has 124 million tonnes at 1136 ppm lithium as indicated resources, and 77 million tonnes lithium at 1045 ppm lithium as inferred resources (0.75 and 0.43 million tonnes lithium carbonate equivalent - "LCE" , respectively. There are over two square kilometers of fertile ground yet to be drill-tested on the Zeus property.

Over the last 3 years, there has been increasing interest in lithium claystone deposits in Clayton Valley, Nevada, near Albemarle's Silver Peak lithium brine operations which remains North America's only lithium producer at present. Along with Noram's Zeus deposit, Cypress Development (CYP-X) has the Dean lithium claystone deposit adjacent and to the southwest, and American Lithium (LI-X) has the TLC deposit located ~40 km to the north-northeast from Zeus.

Cypress Development recently completed a full Pre-feasibility Study (PFS) with favorable economics for its claystone deposit next door to Zeus . Both Cypress' Dean deposit and Noram's Zeus deposit are within the same Esmeralda Formation lithium claystones that have been demonstrated to be non-refractory, meaning that lithium is liberated to solution from the clays within using a low pH solution.

The other major lithium claystone deposit in the vicinity is American Lithium's TLC deposit. Also located in Esmeralda Formation (or equivalent) play lake sediments, the TLC deposit is at surface or under a thin veneer of alluvial sediments. On 2020-05-21, American Lithium announced the maiden resource estimate of 5.37 million tonnes of LCE in Measured and Indicated Resource categories, and 1.76 million tonnes LCE in the Inferred Resource category. American Lithium has initiated metallurgical studies on their claystone material, and as for Zeus and Dean, their clay minerals are non-refractory and treatable in low pH solutions. The company is currently exploring novel techniques for lithium processing and is aiming to produce an early economic study in 2020.

C. Tucker Barrie, President and CEO said, “Continued exploration and development of large lithium claystone deposits reveals that lithium is recoverable in low pH solutions, as shown by Cypress Development's Pre-Feasibility Study; and by the successful pilot plant testing by Ioneer Ltd. and Lithium Americas for their respective Nevada claystone projects. The demand for lithium is growing significantly due to the rapid expansion of the electric vehicle market. Furthermore, the United States government is proactive in promoting and developing critical metals within the USA, including lithium. This means that there is strong support for developing projects like Zeus which is on Bureau of Land Management ground in Nevada, one of the most favorable jurisdictions for mining globally."