Vancouver, British Columbia – October 6, 2022 – Sandy MacDougall, CEO of Noram Lithium Corp. (“Noram” or the “Company”) (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the appointment of Dr. Vahid Sohrabi, Senior Hydrogeologist/Geochemist to the Advisory Board.
Founder and CEO Mr. MacDougall states: “As we accelerate and finalize a new updated resource model and subsequent prefeasibility study in Q4 of 2022, we are pleased to add Dr. Sohrabi to Noram’s advisory board, and add further strength to our technical team in the important components of hydrogeology and geochemistry. Dr. Sohrabi, is a respected leader as a hydrogeologist/geochemist and geoscientist, and brings an extensive ESG-friendly environmental, groundwater, surface water and soil-related global expertise. We look forward to Dr. Sohrabi’s significant contributions in assisting the Company with the completion of the upcoming prefeasibility and definitive feasibility studies of the Zeus Lithium Deposit.”
Dr. Sohrabi is a Senior Hydrogeologist/Geochemist at Ecoventure and has more than 19 years of experience in the field of environmental services in Canada and internationally. He earned his Ph.D. with a major in hydrogeology/geochemistry from the University of Waterloo, Ontario, Canada.
Dr. Sohrabi has been involved in numerous mining/oil and gas/environmental projects including different resource projects in the O&G and Mining industries. His hydro-geochemical knowledge and environmental management expertise have been instrumental in a wide array of resource projects in different stages of their lifecycle, including the design of feasibility studies of mines and mineral processing units.
More recently Dr. Sohrabi has been involved in several lithium projects and played a major role in the feasibility study of lithium brine projects in the Middle East by contributing to the field program testing design, the onsite trial management, the result evaluations and the decision-making for ongoing activities of such deposits, in addition to the final mine development planning.
About Noram Lithium Corp.
Noram Lithium Corp. is a well-financed, development-stage junior mining company based in Vancouver, Canada.
The company’s flagship asset is the Zeus lithium project, located in Clayton Valley, Nevada. The Zeus project contains a current NI 43-101 measured and indicated resource estimate of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off.
In December, 2021, a robust PEA indicated an after-tax net present value (8 per cent) of $1.3-billion (U.S.) and an internal rate of return of 31 per cent using $9,500 (U.S.) per tonne lithium carbonate equivalent (LCE). Using the LCE long-term forecast of $14,000 (U.S.) per tonne, the PEA indicates an after-tax NPV (8 per cent) of approximately $2.67-billion (U.S.) and an IRR of 52 per cent at $14,250 (U.S.) per tonne LCE.
Noram is aggressively advancing its Zeus lithium project through the development-stage level towards the completion of a prefeasibility study in Q4 2022.
Please visit our website for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder, Chief Executive Officer and Director
[email protected]
C: 778.999.2159
For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
[email protected]
C: 778.344.4653
Featured Image Depositphotos @ Depositphotos_330013358_S (1)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Noram Lithium Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Noram Lithium Corp.’s industry; (b) market opportunity; (c) Noram Lithium Corp.s business plans and strategies; (d) services that Noram Lithium Corp. intends to offer; (e) Noram Lithium Corp.’s milestone projections and targets; (f) Noram Lithium Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Noram Lithium Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Noram Lithium Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Noram Lithium Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Noram Lithium Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Noram Lithium Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Noram Lithium Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Noram Lithium Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Noram Lithium Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Noram Lithium Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Noram Lithium Corp.’s business operations (e) Noram Lithium Corp. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Noram Lithium Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Noram Lithium Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Noram Lithium Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Noram Lithium Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Noram Lithium Corp. or such entities and are not necessarily indicative of future performance of Noram Lithium Corp. or such entities.
