Dr. C. Tucker Barrie reports

NORAM PROVIDES UPDATE ON LITHIUM CLAYSTONE DEPOSITS IN CENTRAL NEVADA

As Noram Ventures Inc. plans for a third quarter/fourth quarter 2020 drill campaign and a preliminary economic assessment on its Zeus lithium claystone property, a review of recent developments in central Nevada is warranted. Noram's Zeus lithium claystone deposit has, at a base-case 900-part-per-million-lithium cut-off, has 124 million tonnes at 1,136 ppm lithium as indicated resources and 77 million tonnes lithium at 1,045 ppm lithium as inferred resources (750,000 and 430,000 tonnes lithium carbonate equivalent (LCE), respectively). There are over two square kilometres of fertile ground yet to be drill tested on the Zeus property.

Over the last three years, there has been an increasing interest in lithium claystone deposits in Clayton Valley, Nevada, near Albemarle's Silver Peak lithium brine operations, which remain North America's only lithium producer at present. Along with Noram's Zeus deposit, Cypress Development has the Dean lithium claystone deposit adjacent and to the southwest, and American Lithium has the TLC deposit located approximately 40 kilometres to the north-northeast from Zeus.

Cypress Development recently completed a full prefeasibility study (PFS) with favourable economics for its claystone deposit next door to Zeus (see Cypress press release dated May 19, 2020). Both Cypress's Dean deposit and Noram's Zeus deposit are within the same Esmeralda formation where lithium claystones have been demonstrated to be non-refractory, meaning that lithium is liberated to solution from the clays within using a low pH solution.

Note that mineralization hosted on adjacent and/or nearby properties and operations is not necessarily indicative of mineralization hosted on the company's property.

The other major lithium claystone deposit in the vicinity is American Lithium's TLC deposit. Also located in Esmeralda formation (or equivalent) play lake sediments, the TLC deposit is at surface or under a thin veneer of alluvial sediments. On May 21, 2020, American Lithium announced the maiden resource estimate of 5.37 million tonnes of LCE in measured and indicated resource categories, and 1.76 million tonnes of LCE in the inferred resource category. American Lithium has initiated metallurgical studies on its claystone material, and as for Zeus and Dean, their clay minerals are non-refractory and treatable in low pH solutions. The company is currently exploring novel techniques for lithium processing and is aiming to produce an early economic study in 2020.

Note that mineralization hosted on adjacent and/or nearby properties and operations is not necessarily indicative of mineralization hosted on the company's property.

Dr. C. Tucker Barrie, president and chief executive officer of Noram Ventures, commented: "Continued exploration and development of large lithium claystone deposits reveals that lithium is recoverable in low pH solutions, as shown by Cypress Development's prefeasibility study and by the successful pilot plant testing by Ioneer Ltd. and Lithium Americas for their respective Nevada claystone projects. The demand for lithium is growing significantly due to the rapid expansion of the electric vehicle market. Furthermore, the United States government is pro-active in promoting and developing critical metals within the USA, including lithium. This means that there is strong support for developing projects like Zeus, which is on Bureau of Land Management ground in Nevada, one of the most favourable jurisdictions for mining globally."

American Lithium's TLC lithium claystone deposit is located approximately 40 kilometres to the north-northeast. The Zeus lithium claystone deposit is present at the surface or under a thin alluvium veneer, and has a strip ratio of 0.1 to 1. The deposit is thicker, has higher grades to the south and east, and is open in this direction. There is a probable fault on the southeast side that currently bounds these resources; however, there is evidence from earlier drilling that the lithium-rich claystones continue on the other side of this fault. To the south, similar faults that cut the Esmeralda formation lithium claystones have displacements of metres only. There are greater than two square kilometres of area to the south and east available for future drill testing.

The technical information contained in this news release has been reviewed and approved by C. Tucker Barrie, PhD, PGeo, who is a qualified person with respect to Noram's Clayton Valley lithium project as defined under National Instrument 43-101.

About Noram Ventures Inc.

Noram is a Canadian-based junior exploration company, with a goal of developing lithium deposits and becoming a low-cost supplier. The company's primary business focus since formation has been the exploration of mineral projects. Noram's long-term strategy is to build a multinational lithium mineral company to produce and sell lithium into the markets of Europe, North America and Asia.

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