Mr. Sandy MacDougall reports

NORAM ADVANCES UPDATED PRELIMINARY ECONOMIC ASSESSMENT TO REFLECT CURRENT INDUSTRY STANDARDS AND EXPANDED CRITICAL MINERALS POTENTIAL

Noram Lithium Corp. has provided shareholders with a corporate update outlining recent progress at its 100-per-cent-owned Zeus critical mineral project in Clayton Valley, Nevada, and the company's priorities as it continues advancing one of the largest lithium development projects in the United States.

"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 to update the Zeus preliminary economic assessment. 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 equivalent price of $24,000 (U.S.) per tonne, consistent with assumptions applied in several recent peer technical studies. In addition, the updated PEA will incorporate revised pit optimization assumptions, 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 byproducts, including cesium, rubidium and potash, where supported by continuing geological, metallurgical and economic analysis. The company believes this broader evaluation reflects the continued evolution of the Zeus project from a lithium development project toward 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 cut-off grade, perhaps greater than one 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 Mr. Peek, MSc, 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 is focusing on advancing its 100-per-cent-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.

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