Mr. Greg McCunn reports

NORAM LITHIUM PROVIDES DRILLING RESULTS FROM ZEUS

Noram Lithium Corp. is providing an update on its phase VII drilling program under way at its 100-per-cent-owned Zeus lithium project, located in Clayton Valley, Nevada.

In November, 2023, the company announced a 10-hole drill program at Zeus (phase VII) which was designed to test for the presence of a second high-grade layer, increase the drill density in the high-grade core of the deposit, and complete stepout drilling to the southeast and northwest to validate the geological model (see news release dated Nov. 21, 2023).

Assay results from the first two holes of the program are reported in this release. Holes CVZ-082 and CVZ-083 were stepout holes designed to test for extension of the existing mineralized zone to the north-west. Both holes intersected wide bands of favourable claystone and mudstones (see news releases dated Nov. 29 and Dec. 6, 2023). Highlights from the assay results from the two holes are as follows:

Highlights:

• CVZ-082:
  • 47.7 metres at 1,108 parts per million lithium from 4.3 metres to 52 metres, including:
  • 5.7 metres at 1,454 ppm Li from 24.1 metres to 29.8 metres.
• CVZ-083:
  • 85.1 metres at 966 ppm Li from 4.1 metres to 89.2 metres, including:
  • 5.5 metres at 1,377 ppm Li from 36.9 metres to 42.4 metres;
  • 2.4 metres at 1,471 ppm Li from 48.5 metres to 50.9 metres;
  • 6.1 metres at 1,409 ppm Li from 57 metres to 63.1 metres.
• Stepout drilling to the northwest has validated the geological model and expanded upon the known high-grade core of the deposit.

"The first results from the phase VII drill program are encouraging and prove our geological thesis for the Zeus deposit," stated Greg McCunn, chief executive officer of Noram. "The stepout holes are approximately two kilometres west of the high-grade core of the deposit. The results show resource-grade lithium clay mineralization starting from surface and extending down 50 to 100 metres. Within this material, there are high-grade layers from two to six metres thick at grades more than 50 per cent higher than the average mineral resource grade. With these two additional drill holes in this area, we are expecting to be able to expand our high-grade resources."

Geological model

Based on an extensive surface mapping and core re-logging exercise in Q3 2023 by Big Rock Exploration (BRE), a geological model was developed for Zeus which was based on a classic geological tenet of source-pathway-trap, and which is analogous to the model developed for Lithium America's Thacker Pass project (see news release dated Nov. 7, 2023).

In holes CVZ-082 and CVZ-083, the drilling revealed lithium trapped in near-surface tan-olive clays, with higher-grade lithium layers found in black, sulphidic clays underlying the resource-grade material. As the drilling progressed below the concentrated black layer, resource-grade lithium concentrations were again observed in greenish clays. All three layers of clay represent the trap component of the geological model. Deeper, the source material was intersected -- a previously unknown quartz-phyric rhyolitic lapilli tuff material which contains low levels of lithium and an underlying tuff breccia. The

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, who is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also vice-president of exploration for Noram.

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