Noram Lithium Corp announced a significant increase in its estimated mineral resources at the Zeus Lithium Project, following the completion of the Phase VI drill program during the second quarter of 2022. Highlights of the Updated Resource Estimate: An increase of 190% in Measured and Indicated lithium carbonate equivalent Resources from the August 2021 Mineral Resource Estimate. M&I Resources increased to 5.17 million tonnes LCE (1,034 Mt at 941 parts per million lithium) at a 400 ppm Li cut-off grade.

Substantial Inferred Resources remain from the 2022 Phase VI drill program. Inferred Resources are 1.09 Mt LCE (235 Mt at 871 ppm Li) at a 400 ppm Li cut-off grade. Near Surface = Low Strip Ratio.

The majority of the deposit occurs at or near the surface, resulting in relatively low mining costs. Results from the Preliminary Economic Study 1 indicate that the life of mine strip ratio would be ~0.07:1 (waste:ore). High level of confidence in the deposit modelled given the density of the drill program with 82 holes drilled to-date.

All holes were core holes for more precise sampling and stratigraphic correlations. High grade core (60 meters thick x 1.2 kilometers wide x 3.0 kilometers long) represents an opportunity for optimizing the mine plan. At a 1,200 ppm Li cut-off the Measured and Indicated Resources total 1.2 Mt LCE (169 Mt at 1,326 ppm Li).