Noram Lithium Provides Update on Zeus Lithium Project Mine Plan Optimization Work

VANCOUVER, BC / ACCESSWIRE / September 6, 2023 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is providing an update on its 100% owned Zeus Lithium Project ("Zeus" or the "Project"), located in Clayton Valley, Nevada.

In mid-March, the Company produced an updated Mineral Resource Estimate (MRE) for Zeus which outlined a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off¹. Following the updated MRE, the Company initiated several Project de-risking initiatives, including engaging an independent consultant to optimize the Zeus mine plan, focusing on the high-grade core of the deposit.

Highlights of the mine plan optimization analysis work completed to-date:

This analysis was derived from the existing MRE using a variable cut-off grade stockpiling strategy. Preliminary results of the work are as follows:

• Higher-grade material ("HGO") for direct feed to processing: 39 Mt at 1,450 ppm Li
• Higher-grade material stockpiled for processing after HGO: 22 Mt at 1,360 ppm Li
• Medium-grade material stockpiled for processing after HGO: 7 Mt at 1,120 ppm Li
• Lower-grade material stockpiled for potential processing: 37 Mt at 850 ppm Li
• Waste material: 38 Mt
• Implied strip ratio of 0.36 (waste:material for processing)
• Contained LCE of 668,000t, approximately 11% of the overall mineral resources
• 19-years of operations processing high/medium-grade material plus a potential additional mine life of 11 years processing low-grade stockpile, at a nominal processing rate of 3.5 Mt/year

"The mine optimization work based on our updated Mineral Resource Estimate has been successful at delineating a significant amount of material at grades over 50% higher than our resource grade" stated Greg McCunn, CEO of Noram. "The high-grade feed to the processing plant allows a reduction in throughput and lower upfront capital, while maintaining meaningful levels of lithium carbonate production for the electric vehicle battery market.