Vancouver, B.C, August 1, 2017 – Alba Minerals Ltd. (“Alba”) (TSX-V: AA.V: AXVEF:US Frankfurt: A117RU) and Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) (“Noram” or the “Company”) We are very pleased with the report that indicates an inferred resource of approximately 17 million metric tonnes at a grade of about 1,060 ppm Li over a 455,800 square meters of the core drilling program. The deposit remains open in all directions and at depth and the drilling only tested a very small portion (113 acres)(46 hectares) of the area covered by the extensive (17,739 acre)(7,178 hectare) claim holdings. There is considerable upside potential for increasing the size of the deposit.
Bench scale testing by Membrane Development Specialties (MDS) has revealed that extraction of the lithium from the sediments is feasible using a new membrane technology. Preliminary test results indicate that the process may recover approximately 90% of the lithium with a processing cost of US$2000 ±25% (not including mining costs) to recover at tonne of lithium carbonate and with the ability to recycle a major portion of the acid and water used in the process. Testing is ongoing and is expected to result in a more definitive statement about the test results in the near future. On May 31st, 2017, Noram engaged Autec Innovative Extractive Solutions to provide an independent report on the MDS membrane lithium metallurgical test process. This independent report should be completed soon.
Alba and Noram’s claims are located within 1 mile (1.6 kilometers) of Albemarle’s lithium brine operations. It is a matter of public record that lithium at Albemarle’s plant is produced from deep wells that pump brines from the basin beneath the Clayton Valley playa (Kunasz, 1970; Zampirro, 2005 and Munk, 2011). The Pure Energy resource occurs as basinal brines similar to those at Albemarle’s project, has not been verified by the author, and is not necessarily indicative of the mineralization that is the subject of this technical report. There is potential that wells, if drilled on Alba and Noram properties, could penetrate basinal brines similar to those used by Albemarle to produce lithium and similar to those announced by Pure Energy for their resource estimate and PEA. However, at present it is unknown whether the brines are present beneath Alba, Noram claims or whether lithium could be produced economically if the brines are present.
East of Pure Energy’s claims and adjacent to the west of Alba, Noram’s holdings, Cypress Development has recently completed a 9-hole core drilling program of the lithium-rich sediments. Cypress Development’s news releases indicated that they had drill intercepts of greater than 200 feet (61 meters) averaging greater than 1000 ppm. The reported results are very similar in geology and lithium grade to those reported herein, however the mineralization discovered by Cypress is not necessarily indicative of mineralization that may be found beneath the property that is the subject of this report.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.
In Argentina Millennial Lithium and Southern Lithium JV partnership has commence drilling. On July 11, 2017, Southern Lithium announced that they have started to drill there Cruz Property which is located 7km South East of Alba’s Quiron ll Project. Alba is looking forward to the drill results of Southern Lithium.
About Alba Minerals Ltd
Alba Minerals Ltd. Is a Vancouver based junior resource company with projects in North and South America, focusing on the development of our Lithium properties. Our Lithium Projects are located in Clayton Valley Nevada where we can earn up to a 50% interest in the project and just completed 46 hole drilling program. Our second lthium project Quiron II consist of 2,421 hectares of prospective exploration property in the Pocitos Salar, Province of Salta, Argentina. The Project is located approximately 7 km South East of Millennial Lithium - Southern Lithium JV Pocitos North Cruz Brine Project and 12 km northeast from the Liberty One Lithium Corp.
Please visit our web site for further information: www.albamineralsltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Art Brown”
President & Director
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.