Noram Ventures Closes Acquistion of Clayton Valley Lithium Property in Nevada
Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) is pleased to announce that, further to the news release dated April 25, 2016, it has closed the acquisition of 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.
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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]).
Mark Ireton, President, said, “We are pleased to have concluded this acquisition which is a significant step toward Noram’s goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits.”
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 with 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/noram04272016.pdf
Source: Noram Ventures Inc. (TSX Venture:NRM)
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