Mr. Sandy MacDougall reports

NORAM FULLY FUNDED FOR 2026 AND ENGAGES GRE TO UPDATE PEA WITH MULTIPLE HIGH-VALUE CRITICAL MINERAL BYPRODUCT CREDITS

Noram Lithium Corp. has contracted Global Resource Engineering (GRE) to update the PEA (preliminary economic assessment) for the Zeus project.

Noram will significantly advance the Zeus project in Clayton Valley, Nevada, and has engaged GRE to: (1) supervise the metallurgical testing on samples from Noram's Zeus deposit to determine the feasibility of recovering potentially economical byproducts rubidium (Rb), cesium (Cs), molybdenum (Mo) and potash (K); and (2) to update the Zeus mineral resource estimate (MRE) and preliminary economic assessment (PEA) for the deposit, including these potential credits as an important part of the economic analysis.

The Zeus deposit

In May, 2024, SRK Consulting completed a mineral resource estimate on the Zeus project (National Instrument 43-101 technical report available on Noram Lithium's website and on SEDAR+). The estimate used data from 91 core holes spanning seven drilling campaigns. Chairman Sandy MacDougall commented: "Due to the significantly greater drilling density and stringent standards, the company has employed in evaluating our project, Noram boasts a much higher level of confidence in the Zeus deposit than peer lithium projects. As the only company to examine and integrate the extraction of cesium, rubidium, molybdenum and potash as valuable byproducts in our PEA, we are confident that our strategy will substantially increase the project's overall profitability while derisking the project by adding four other high-value and critical commodities as saleable products. Timing is everything, and with the recent announcement of Project Vault, a $12-billion government-backed strategic critical minerals stockpile, Noram is in the perfect position to capitalize on this aggressive industrial and national security move made in the wake of rising demand."

The SRK study reported a significant lithium clay deposit with a high-grade core and peripheral halom as stated in an attached table. The MRE was based on a lithium carbonate price of $24,000 (U.S.) per tonne.

The deposit is a gently dipping deposit that crops out at surface and is amenable to open-pit mining.

The updated MRE and PEA

GRE will supervise the metallurgical testing of representative Zeus samples from the core drilling and determine the economics for the recovery of the Rb, Cs and potash from the Zeus lithium clays.

Rubidium and cesium are rare, strategically important elements mainly sourced as byproducts from lithium and pollucite mining. They serve critical roles in advanced electronics, telecommunications and medical technologies. Their scarcity and specialized demand maintain a high value. Potash is a widely used additive to crop fertilizers. Potash is most commonly sold for fertilizers as potassium chloride (KCl) or potassium sulphate (K2SO4).

Assay data

The data analyzed are from seven phases of drilling spanning seven years (2016 to 2023) and includes 91 core holes and 3,407 assayed intervals. Of these assays, 1,267 with greater than 1,000 parts per million lithium and over a minimum 15-foot thickness were selected as being the most likely to be mined due to their high grade and location. A summary of these assays is given in an attached table.

Discussion

As described in the release dated Aug. 18, 2025, prices for rubidium and cesium (greater than 99.5 per cent) are approximately $3,327 (U.S.) per ounce and $2,873 (U.S.) per ounce (Shanghai Metals Market prices, Aug. 16, 2025, VAT (value-added tax) included), respectively. Muriate of potash (KCl) has a current price between $358 (U.S.) per tonne (World Bank Price data) and $489 (U.S.) per tonne (USDA (U.S. Department of Agriculture) agricultural marketing service). With the greater than 1,000 ppm Li claystone material containing average values of 290 ppm Rb, 55 ppm Cs and greater than 5 per cent K, these metals have the potential to significantly enhance the value of the Zeus deposit. They also have the potential to increase the tonnage of the deposit by combining the value of the byproducts with that of the lithium to determine revised cut-off grades for the deposit.

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 vice-president of exploration for Noram.

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