American Marconi Wireless News - Noram Advances Updated Preliminary Economic Assessment to Reflect Current Industry Standards and Expanded Critical Minerals Potential

"Our team has remained disciplined in advancing the Zeus Project while preserving shareholder value through prudent capital management," said Sandy MacDougall, Chairman and Director.

"Rather than pursuing repeated equity financings during one of the most challenging capital markets in recent history for the junior mining sector, we have focused on enhancing the technical quality of the project and maintaining a strong capital structure. Noram has engaged Global Resource Engineers (GRE) to update the Zeus Preliminary Economic Assessment (PEA). The update represents an important milestone in the evolution of Zeus.

Equally important, the updated study in progress will evaluate the contribution of additional critical minerals identified within the Zeus Project. We believe Zeus has the potential to evolve well beyond a stand-alone lithium project into a broader critical minerals development opportunity, supporting North America's domestic supply chain.

The Company remains committed to disciplined capital allocation, technical excellence and creating long-term shareholder value as we advance one of Nevada's most significant critical mineral development projects."

The updated Preliminary Economic Assessment, expected by late October, incorporates significant technical, engineering and metallurgical work completed since the Company's previous PEA in 2021. The current study uses a long-term lithium carbonate (LCE) price of US$24,000 per tonne, consistent with assumptions applied in several recent peer technical studies. In addition, the updated PEA will incorporate revised pit optimization parameters, including a lower cut-off grade than previously utilized, together with updated mine planning and engineering criteria. The updated study will also evaluate the potential contribution of additional critical mineral by-products, including cesium, rubidium and potash, where supported by ongoing geological, metallurgical and economic analysis. The Company believes this broader evaluation reflects the continued evolution of the Zeus Project from a lithium development project towards a strategically significant critical minerals asset. "From previous Preliminary Economic Assessments, Zeus has a resource of several hundred million tonnes of lithium-rich clays and, depending on the cutoff grade, perhaps greater than 1 billion tonnes" stated Brad Peek, Vice President of Exploration for Noram.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and is Vice President of Exploration for Noram.

About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is focusing on advancing its 100%-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.

Please visit our web site for further information: www.noramlithiumcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159

Investor Relations
Sean Davis
[email protected]
C: +1604.838.6158

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.

SOURCE: Noram Lithium Corp.

View the original press release on ACCESS Newswire

S.F.Warren--AMWN