Mr. Greg McCunn reports

NORAM LITHIUM PROVIDES UPDATE

Noram Lithium Corp. has provided a corporate update and an update on its 100-per-cent-owned Zeus lithium project located in Clayton Valley, Nevada.

Zeus lithium project update

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 million tonnes (Mt) lithium carbonate equivalent (LCE) (1,034,000 tonnes at 941 parts per million (ppm) lithium (Li)), and an additional inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off. Following the updated MRE, the company initiated a number of project derisking initiatives:

• Engaged SRK Consulting to optimize the Zeus mine plan, focusing on the high-grade core of the Zeus deposit;
• Initiated a further round of metallurgical test work to confirm and refine the proposed flowsheet for the project, which is based on known technology to produce high-purity lithium carbonate from Zeus mineralized material; and
• Engaged Ausenco to complete a prefeasibility for the project.

"The last four months have been very successful at derisking the Zeus project," stated Greg McCunn, chief executive officer of Noram. "Early results from the metallurgical test program are confirming and validating our process flowsheet, as well as identifying efficiencies to reduce overall operating costs. By focusing the project on the high-grade core of the Zeus project, we are expecting to materially increase grades of material fed to the processing plant for the first 15 to 20 years of operations. This will allow us to reduce the scale of the process facility, which is expected to result in lower capital costs, while still maintaining meaningful levels of lithium carbonate production for the electric vehicle battery market.

"Preliminary results from phase 1 of the PFS have outlined a robust business case for the project and we are now optimizing the business case based on a series of trade-off studies. We are expecting to begin releasing preliminary result from this important work when it becomes available later in the third quarter."

Corporate update

On May 31, the company announced that it had engaged Creative Direct Marketing Group Inc. (CDMG) to provide the company with marketing services and to raise public awareness of the company. Over the past two months, the company has been working with CDMG to prepare for the future campaign, which is expected to include both digital and direct mail campaigns. The campaign is expected to get under way in September.

Sandy MacDougall, executive chairman, said: "We are looking forward to communicating the exciting results from our technical work so far this year, as they become available later this quarter. We are making extensive efforts with this new investor awareness campaign. Noram is looking forward to widening its reach by broadening our audience and sharing the merits of this incredible project with a largely untapped investor base. While the campaign will be focused largely on the United States, our existing investor base in Europe will continue to be communicated with through our VP [vice-president] of corporate development, Simon Studer, who is multilingual and based in Switzerland."

About Noram Lithium Corp.

Noram Lithium is focusing on advancing its 100-per-cent-owned Zeus lithium project located in Clayton Valley, Nevada, an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the company aims to become a key participant in the domestic supply of lithium in the United States. The company is committed to creating shareholder value through the strategic allocation of capital

Qualified person

The technical information contained in this news release has been reviewed and approved by Brad Peek, MSc, CPG, vice-president of exploration for Noram, a qualified person with respect to Noram's Clayton Valley lithium project, as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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