Noram Fully Funded for 2026 and Engages GRE to Update PEA With Multiple High-Value Critical Mineral Byproduct Credits

Rhea-AI Summary

Noram Lithium (OTCQB:NRVTF) contracted Global Resource Engineering to update the Zeus Project PEA and MRE and to supervise metallurgical testing for potential byproducts: rubidium, cesium, molybdenum and potash.

The SRK MRE (May 2024) used data from 91 core holes and a lithium carbonate price of US$24,000/tonne; selected high-grade intervals average 1,209 ppm Li, 290 ppm Rb, 55 ppm Cs and 5.17% K.

Positive

• Selected high-grade intervals average 1,209 ppm Li, indicating strong lithium grades
• Byproduct assays average 290 ppm Rb, 55 ppm Cs and 5.17% K, adding potential revenue streams
• GRE engagement to update the PEA and MRE could materially improve project economics if byproduct credits are realized

Negative

• Economic benefit from Rb, Cs and K remains unproven until metallurgical recovery tests and updated PEA are completed
• PEA economics previously used a US$24,000/tonne Li2CO3 price; lower market prices could reduce project valuation

VANCOUVER, BC / ACCESS Newswire / February 10, 2026 / Sandy MacDougall, Chairman of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to report that the Company has contracted Global Resource Engineering ("GRE") to update the PEA for the Zeus Project.

Noram will significantly advance the Zeus Project in Clayton Valley Nevada and has engaged GRE to (1) supervise the metallurgical testing on samples from Noram's Zeus deposit to determine the feasibility of recovering potentially economical byproducts Rubidium (Rb), Cesium (Cs), Molybdenum (Mo) and Potash (K), and (2) to update the Zeus Mineral Resource Estimate ("MRE") and Preliminary Economic Assessment ("PEA") for the deposit, including these potential credits as an important part of the economic analysis.

THE ZEUS DEPOSIT

In May of 2024, SRK Consulting completed a Mineral Resource Estimate on the Zeus Project (43-101 Technical Report available on noramlithium.com and on sedarplus.ca). The estimate used data from 91 core holes spanning 7 drilling campaigns. Chairman Sandy MacDougall comments "due to the significantly greater drilling density and stringent standards the Company has employed in evaluating our Project, Noram boasts a much higher level of confidence in the Zeus deposit than peer lithium projects. As the only Company to examine and integrate the extraction of cesium, rubidium, molybdenum, and potash as valuable byproducts in our PEA, we are confident that our strategy will substantially increase the project's overall profitability while derisking the project by adding 4 other high-value and critical commodities as saleable products. Timing is everything, and with the recent announcement of 'Project Vault', a $12B government-backed strategic critical minerals stockpile, Noram is in the perfect position to capitalize on this aggressive industrial and national security move made in the wake of rising demand."

Figure 1 from the SRK report shows the high density of drill holes used in the MRE along with the indicated resource extents.

Figure 1 - Drill hole density and indicated resource outlines.

The SRK study reported a significant lithium clay deposit with a high-grade core and peripheral halo as stated in Table 1. The MRE was based on a lithium carbonate price of US$24,000 per tonne.

Table 1 - MRE data from SRK Technical Report, May 2024.

The deposit is a gently dipping deposit that crops out at surface and is amenable to open pit mining, as shown in Figure 2.

Figure 2 - Plan view of estimation domains and example cross section.

THE UPDATED MRE AND PEA

GRE will supervise the metallurgical testing of representative Zeus samples from the core drilling and determine the economics for the recovery of the Rb, Cs and potash from the Zeus lithium clays.

Rubidium and cesium are rare, strategically important elements mainly sourced as by-products from lithium and pollucite mining. They serve critical roles in advanced electronics, telecommunications, and medical technologies. Their scarcity and specialized demand maintain a high value. Potash is a widely used additive to crop fertilizers. Potash is most commonly sold for fertilizers as potassium chloride (KCl) or potassium sulfate (K₂SO₄).

Assay Data

The data analyzed is from 7 phases of drilling spanning 7 years (2016-2023) and includes 91 core holes and 3,407 assayed intervals. Of these assays, 1,267 with greater than 1,000 ppm Lithium and over a minimum 15-foot thickness were selected as being the most likely to be mined due to their high grade and location. A summary of these assays is given in Table 1.

	Li(ppm)	Cs(ppm)	Rb(ppm)	K(%)
Maximum	2730	127	500	6.88
Minimum	280	8	122	1.99
Average	1209	55	290	5.17

Table 1 - Summary of potential byproduct assays.

Discussion

As described in the release dated August 18, 2025, prices for rubidium and cesium (>99.5%) are approximately $US 3,327/oz and $US 2,873/oz (Shanghai Metals Market prices, August 16, 2025, VAT included), respectively. Muriate of Potash (KCl) has a current price between US$358/tonne (World Bank Price Data) and US$489/tonne (USDA Agricultural Marketing Service). With the >1000 ppm Li claystone material containing average values of 290 ppm Rb, 55 ppm Cs and +5% K, these metals have the potential to significantly enhance the value of the Zeus deposit. They also have the potential to increase the tonnage of the deposit by combining the value of the byproducts with that of the lithium to determine revised cutoff grades for the deposit.

For additional information:

Contacts:
In Europe: VP Corporate Development simon.studer@noramlithium.com
Elsewhere: Investor Relations at ir@noramlithiumcorp.com
Website: www.noramlithiumcorp.com

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Chairman & Director
Website: www.noramlithiumcorp.com

About Noram Lithium Corp.

Noram Lithium Corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is focusing on advancing its 100%-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.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and Vice President of Exploration for Noram.

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.

Cautionary Statement Regarding Forward-Looking Information

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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.

SOURCE: Noram Lithium Corp.

View the original press release on ACCESS Newswire

FAQ

What will GRE do for Noram's Zeus Project and how will it affect the NRVTF PEA?

GRE will update the Zeus MRE and PEA and supervise metallurgical tests for byproducts. According to the company, GRE will test representative core samples to assess recoveries of rubidium, cesium, molybdenum and potash and include potential credits in the economic model.

What are the reported assay averages for lithium and potential byproducts at Zeus (NRVTF)?

High-grade intervals average 1,209 ppm Li with 290 ppm Rb, 55 ppm Cs and 5.17% K. According to the company, these figures come from 1,267 selected assays over 91 core holes covering 2016–2023.

How could rubidium and cesium byproducts impact the Zeus Project economics for NRVTF?

Rubidium and cesium could add high-value credits if recoverable from the clays. According to the company, market prices cited suggest these byproducts may meaningfully increase project revenue and could lower effective cutoff grades.

What lithium price did the SRK MRE use and why does that matter to NRVTF investors?

The SRK MRE used a lithium carbonate price of US$24,000/tonne. According to the company, that price underpins the prior economic case and future sensitivity to lower prices could weaken project economics.

When will investors see updated PEA results for Noram (NRVTF)?

GRE has been engaged to perform metallurgical testing and update the MRE and PEA, with timing to follow completion of tests. According to the company, results will be released after sample testing and model updates are finalized.