Mr. Cyrus Driver reports

NORAM LITHIUM EXTENDS HIGH-GRADE ZONE AT ZEUS

Noram Lithium Corp. has provided a second update from its phase VII drilling program under way at is 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, 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, CVZ-082 and CVZ-083, were previously released (see news release dated Jan. 16, 2024) and showed stepout drilling to the northwest has validated the geological model and expanded upon the known high-grade core of the deposit.

Assay results from three further holes, CVZ-087, CVZ-088 and CVZ-089, have been received and are reported herein. These holes were designed to test for the presence of a second high-grade layer as well as increase the drill density in the high-grade core of the deposit. All three holes intersected wide bands of favourable claystone and mudstones. Highlights from the assay results from the three holes are as follows.

Highlights:

• CVZ-087:
  • 66.3 metres at 1,153 parts per million lithium from 18.0 metres to 84.3 metres;
  • Including 6.8 metres at 1,783 parts per million lithium from 36.3 metres to 43.1 metres;
• CVZ-088:
  • 64.6 metres at 1,080 parts per million lithium from zero metres to 64.6 metres;
  • Including 3.3 metres at 1,705 parts per million lithium from 4.0 metres to 7.3 metres;
  • And 11.0 metres at 1,330 parts per million lithium from 12.0 metres to 23.0 metres;
• CVZ-089:
  • 55.4 metres at 1,074 parts per million lithium from 8.5 metres to 63.9 metres;
  • Including 2.9 metres at 1,302 parts per million lithium from 22.2 metres to 25.1 metres;
• Deeper drilling in the high-grade core of the deposit has extended the high-grade mineralization, concentrated in the black, sulphidic clay layer below previous drilling depth.

"The second set of results from the phase VII drill program further proves our geological thesis for the Zeus deposit," stated Greg McCunn, chief executive officer of Noram. "The extension of the high-grade mineralization in areas where there was previously only shallow drilling is expected to add further high grade to our mineral resource estimate and mine plan."

The geological thesis of the formation of the Zeus deposit developed following an extensive surface mapping and core relogging exercise in 2023 is being confirmed by assay results from new drilling in the high-grade core. A strip log of hole CVZ-087 highlights the concentration of lithium and other elements in the black, sulphidic clay layer, with corresponding addition of potassium and depletion of sodium.

CVZ-033 was a shallow hole drilled during a previous phase of drilling that ended in high-grade mineralization, with the final samples on the shallow hole averaging 2,380 parts per million lithium. Nearby, CVZ-087 has confirmed this high-grade mineralization and shown that it extends a further 10 metres to 15 metres in depth.

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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