Noram Ventures Signs Agreement to Acquire Clayton Valley Lithium Property in Nevada

Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) is pleased to announce it has entered into an agreement to acquire 201 mineral claims comprising 3,998.18 acres, in Clayton Valley, Nevada. The two non-contiguous claim groups (the “Li Group Claims”) are located in the same geological formation as, Rockwood’s and Lithium X’s operations. Noram will pay USD$ 100,000 for the 201 mineral claims, by way of a promissory note to the vendor and a net smelter returns royalty (NSR) of 2.5%. The definitive agreement and transfer of tenure is expected to be completed in 10 days. In addition, Noram will pay up to USD$ 90,000 to the Bureau of Land Management and the State of Nevada, with respect to fees on the claims.

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Highlights: 

• Within 2 km to largest Lithium Producer in USA; Albemarle Corporation.

• Albemarle Corporation has been in continuous production of Lithium Carbonate and Lithium Hydroxide products from Clayton Valley brines since 1967.

• Two Target Horizons, Lithium potential contained within beds and brines.

• Close to infrastructure (power, transport and labor).

• Project is situated adjacent to Lithium X’s North block (recently acquired permits to drill*).

• Within 11km of Pure Energy’s holdings (NI 43-101 Inferred Resource of 816,000 Tonnes Lithium Carbonate**).

* Lithium X press release March 23, 2016.

* *(N I 43-101 Inferred Resource of 816,000 tonnes of Lithium Carbonate, [Pure Energy press release, July 29, 2015]).

Why is Clayton Valley important to Lithium production?

Clayton Valley is a region well documented for lithium bearing brines and significantly rich beds.  Clayton Valley is home to the only lithium producer in the USA; Albemarle’s Silver Peak Lithium Brine Operation which has been producing been Lithium Carbonate and Lithium Hydroxide products since 1967.  The Li Group Claims Project is located within the Clayton Valley and only 2 km from the Albemarle Operation. 

Currently, Lithium X and Pure Energy have begun exploration work within Clayton Valley and several other companies are actively engaged in pursuing acquisitions.  

Geology

The geology is considered to comprise a sequence of sediments with strata composing aquifer systems which hosts and produces lithium rich brine.  Multiple wetting and drying periods during the Pleistocene resulted in the formation of lacustrine sediments with salt beds and lithium rich brines forming in the sediments within the Clayton Valley basin.  These deposits form the Esmeralda Formation which has clay bearing siltstones near the base to fine grained lacustrine sediments near the top. Up to six aquifers have been identified within the basin.  It appears that lithium is ubiquitous throughout the area with hot springs and aquifers to the north of the town of Silver Peak containing lithium of approx. 40ppm.  The Esmeralda Formation has been reported to contain from 350 to 1,171 ppm lithium (USGS open file report 82-415).

During the mid-to late 1970’s the U.S. Geological Survey (“USGS”) evaluated lithium deposits and resources around the world.  During the course of the program they drilled 22 holes in Nevada and Arizona including seven drill holes in the Clayton Valley Basin.  The USGS holes drilled closest to the Li Group Claims Project reported 1.3 and 1.7 parts per million (“ppm”) lithium in the brines and 287 and 364 ppm lithium in the sediments.

Pure Energy has identified lithium concentrations of up to 400ppm in brines in two aquifers on their Clayton Valley claims which are located to the south of the Li Group Claims.  Pumping tests resulted in approx. 9 liters per minute at 225ppm lithium in their test well CV-1.  Pure Energy reported a N.I. 43-101 Inferred Resource of 816,000 tonnes of Lithium Carbonate (Pure Energy Minerals press release, July 29, 2015).

In regards to infrastructure, sources of power and water are located less than 10 km from the Li Group Claims Project. Labor and supplies are available at Tonopah, Las Vegas or Reno which are local and regional mining and supply centers.

Mark Ireton, President, said, “Lithium prices have risen significantly since 2015. Demand is forecast to continue to expand for lithium and graphite and Noram expects to play a significant role in Green Energy Revolution through the development of lithium and graphite deposits, development of New Processes and through Strategic Alliances.”

The technical information contained in this news release has been reviewed and approved by Michael Collins, P.Geo., who is a Qualified Person with respect to the Li Claim Group Property as defined under NI 43-101.

About Noram Ventures Inc.:

Noram Ventures Inc. (TSX-V: NRM) is a Canadian based junior exploration company with interests in lithium and graphite claims, and a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral projects that include the Clayton Valley lithium project in Nevada and Jumbo graphite property in British Columbia.  Noram’s long term strategy is to build a multi-national lithium-graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.

For further information, please visit www.noramventures.com.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ “Mark R. Ireton”

President & Director

Direct: (604) 761-9994

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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. 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.

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