Noram Announces Strategic Addition To The Advisory Board; Pre-Feasibility Study In Final Stages
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
Founder, Chief Executive Officer and Director
For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
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).