Clarification of Technical Disclosures as a Result of a Review by the British Columbia Securities Commission
Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) (“Noram” or the “Company”) and Alba Minerals Ltd. (“Alba”) (TSX-V: AA.V: AXVEF:US Frankfurt: A117RU) report that as result of a review by the British Columbia Securities Commission ("BCSC"), we are issuing the following news release to clarify our disclosure.
Deficiencies in Filing and Technical Disclosure
The Company filed a technical report for the Clayton Valley Lithium Brine/Clay Project, dated July 24, 2017 (the "Technical Report"). It has been determined that the Technical Report does not comply with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and that investors should not rely on the results until a compliant report is filed.
Disclosure Issues in the Technical Report
- Reliance on Experts. The Technical Report includes reliances not permitted by s. 6.4 of NI 43-101 or Item 3 of Form 43-101F1.
- Reasonable Prospects. The Company needs provide additional details with respect to constraints on the mineral resource and details to support reasonable prospects for eventual economic extraction.
The Company is currently working to correct and rectify all of the identified issues. A NI 43-101 compliant report is in preparation and will be filed as soon as practicable.
About Noram Ventures Inc.
Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits and 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 lithium projects in the Clayton Valley in Nevada, the Hector Lode in San Bernardino county, California, the Arizaro East mineral claim located in the eastern portion of the Salar de Arizaro in north- western Argentina and the 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.
Please visit our web site for further information: www.noramventures.com
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/ “Mark R. Ireton”
President & Director
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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.
To view this press release as a PDF file, click onto the following link:
Source: Noram Ventures Inc. (TSX Venture:NRM, OTC Pink:NRVTF)
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