Noram Lithium Corp. is providing an update on its Phase VII drilling program underway at its 100% owned Zeus Lithium Project ("Zeus" or the "Project"), located in Clayton Valley, Nevada. In November 2023, the Company announced a ten-hole drill program at Zeus (Phase VII) which was designed to test for the presence of a second high-grade layer, increase the drill density in the high-grade core of the deposit and complete step-out drilling to the south-east and north-west to validate the geological model.

Assay results from the first two holes of the program are reported in this release. Holes CVZ-082 and CVZ-083 were step-out holes designed to test for extension of the existing mineralized zone to the north-west. Both holes intersected wide bands of favourable claystone and mudstones (see news releases dated November 29 and December 6, 2023).

Highlights from the assay results from the two holes are as follows: Highlights: CVZ-082: 47.7 meters at 1,108 ppm Li from 4.3 meters to 52.0 meters, including 5.7 meters at 1,454 ppm Li from 24.1 meters to 29.8 meters. CVZ-083: 85.1 meters at 966 ppm Li from 4.1 meters to 89.2 meters; including 5.5 meters at 1,377 ppm Li from 36.9 meters to 42.4 meters, and 2.4 meters at 1,471 ppm Li from 48.5 meters to 50.9 meters, and 6.1 meters at 1,409 ppm Li from 57 meters to 63.1 meters. Step out drilling to the north-west has validated the geological model and expanded upon the known high-grade core of the deposit.

Based on an extensive surface mapping and core re-logging exercise in Third Quarter 2023 by Big Rock Exploration ("BRE"), a geological model was developed for Zeus which was based on a classic geological tenet of "Source-Pathway-Trap", and which is analogous to the model developed for Lithium America's Thacker Pass project. In holes CVZ-082 and CVZ-083, the drilling revealed lithium trapped in near-surface tan-olive clays, with higher grade lithium layers found in black, sulphidic clays underlying the resource grade material. As the drilling progressed below the concentrated black layer, resource grade lithium concentrations were again observed in greenish clays.

All three layers of clay represent the "trap" component of the geological model. Deeper, the "source" material was intersected - a previously unknown quartz-phyric rhyolitic lapilli tuff material which contains low levels of lithium and an underlying tuff breccia.