Noram Lithium Corp · TSXV:NRM
Noram Lithium — Investor Presentation (September 2026)
22 slides from Noram Lithium's investor presentation, September 2026
Slide 1: Noram Lithium Corp. Zeus Lithium Project Investor Presentation
Nz NORAM LITHIUM CORP. ZEUS LITHIUM PROJECT Clayton Valley, Nevada Investor Presentation SEPTEMBER 2026 TSXV: NRM | OTCQB: NRVTF | FRA: N7R Adefined U.S. lithium resource Ahigher-grade core. Updated economics in progress.
Slide 2: Disclosure: Important information
DISCLOSURE Important information Forward-looking information, technical disclosure and adjacent-property context. FORWARD-LOOKING INFORMATION This presentation includes forward-looking information within the meaning of applicable Canadian securities laws, Forward-looking information reflects current
Slide 3: Zeus at a Glance
ZEUS AT A GLANCE A current 2024 resource, seven drilling phases and an updated PEA expected in late October 2026. 586 Mt 300 Mt 166 Mt 92 ~1.6 km INDICATED RESOURCE INFERRED RESOURCE HIGHER-GRADE CORE DRILLHOLES TO SILVER PEAK 957 ppm Li | 2.987 Mt LCE 861 ppm Li | 1.375 Mt LCE Indicated @ 1,121 ppm
Slide 4: Clayton Valley, Nevada
CLAYTON VALLEY, NEVADA Zeus sits beside long-standing lithium activity, established road access and power infrastructure. ~1.6 km from Albemarle’s Silver Peak lithium operation • Silver Peak has produced lithium in Clayton Valley since 1965. • Century Lithium’s project lies immediately west of Zeus.
Slide 5: Seven Phases of Drilling
SEVEN PHASES OF DRILLING Noram has drilled Zeus since 2016. The current technical database contains 92 holes and 7,777 metres. Phase VII 10 holes | 2,060 m Selected 2024 results CVZ-086 98.0 m @ 1,125 ppm Li incl. 2.8 m @ 2,234 ppm Li CVZ-085 86.3 m @ 1,108 ppm Li incl. 9.2 m @ 1,671 ppm Li CVZ-090
Slide 6: Current 2024 Mineral Resource
CURRENT 2024 MINERAL RESOURCE The May 2024 SRK estimate is the current technical resource basis for Zeus. 586 Mt 300 Mt 525 ppm ~2,800 ac INDICATED INFERRED LI CUT-OFF LAND POSITION 957 ppm Li | 2.987 Mt contained LCE 861 ppm Li | 1.375 Mt contained LCE Conceptual pit constrained 146 placer + 136 lo
Slide 7: The Higher-Grade Core
THE HIGHER-GRADE CORE 166 Mt Indicated at 1,121 ppm Li sits inside the larger Zeus resource. 166 Mt Indicated @ 1,121 ppm Li Grade bands inside the core 54 Mt >1,325 ppm Li 1,496 ppm average 49 Mt 900–1,325 ppm Li 1,108 ppm average 64 Mt <900 ppm Li 814 ppm average SRK 2024 NI 43-101, Table 14-6 and
Slide 8: Phase VII: Focusing on the Core
PHASE VII: FOCUSING ON THE CORE Ten holes were drilled to tighten spacing, test extensions and check the geological model. PROGRAM OBJECTIVES 1 Increase drill density through the higher-grade core. 2 Step out to the northwest and southeast. 3 Test deeper mineralization and the geological model. What
Slide 9: How the Mineralization Sits
HOW THE MINERALIZATION SITS The resource occurs in gently dipping claystone and mudstone units within the Esmeralda Formation. Deposit geometry • Lithium mineralization occurs in gently dipping claystone and mudstone units. • The model separates higher-grade zones from surrounding lower-grade minera
Slide 10: 2021 PEA
2021 PEA The 2021 study established a positive economic starting point under the assumptions used at the time. US$1.30B 31% 3.2 yrs US$528M US$3,355/t AFTER-TAX NPV8 AFTER-TAX IRR PAYBACK INITIAL CAPEX OPERATING COST Base case at US$9,500/t LCE Base case After-tax 2021 estimate Lithium carbonate Min
Slide 11: Since the 2021 PEA
SINCE THE 2021 PEA Since 2021, Noram has completed additional drilling, updated the geological model and resource, and expanded the metallurgical work being used in the 2026 PEA. 2021 2023 2024 2025 2026 PEA GEOLOGICAL MODEL RESOURCE BYPRODUCT ASSAYS UPDATED PEA GRE is incorporating Historical econo
Slide 12: Updated PEA | Expected Late October
UPDATED PEA | EXPECTED LATE OCTOBER The study will bring the 2024 resource, revised mine planning, current metallurgy and updated assumptions into one economic model. US$24,000/t LCE long-term lithium carbonate assumption Lower cut-off than the 2024 MRE Revised pit optimization and mine plan Updated
Slide 13: Metallurgy
METALLURGY Test work has shown high lithium extraction in acid leach tests and has produced lithium carbonate at laboratory scale. Feed Impurity Solution Acid leach preparation removal polishing Reported test-work highlights • Leach testing reported lithium recoveries above 90% in parts of the progr
Slide 14: Additional Minerals Under Evaluation
ADDITIONAL MINERALS UNDER EVALUATION Historic assays identified cesium, rubidium and potassium in lithium-rich intervals; molybdenum was added to the 2026 test program. 290 ppm 55 ppm 5.17% K Mo RUBIDIUM CESIUM POTASH MOLYBDENUM Average in selected >1,000 ppm Li Average in selected >1,000 ppm Li Ave
Slide 15: Access and Infrastructure
ACCESS AND INFRASTRUCTURE Zeus can be reached by paved road to the property edge, with power infrastructure already serving the district. Getting to Zeus • Paved access via Highway 95 and Silver Peak Road to the edge of the property. • Power lines serving Silver Peak cross the Zeus claim group. • To
Slide 16: U.S. Critical-Minerals Priority
U.S. CRITICAL-MINERALS PRIORITY Domestic critical-mineral supply is now being treated explicitly as an economic and national-security issue in the United States. Federal policy Where Zeus fits Thacker Pass 2025–2026 actions have linked critical • Large domestic lithium resource minerals directly to
Slide 17: What Comes After the PEA
WHAT COMES AFTER THE PEA The late-October study will set the priorities for the next stage of technical and permitting work. 1 2 3 4 5 PEA ENGINEERING PERMITTING METALLURGY DEVELOPMENT DECISION Updated economics, Advance federal and Continue process Sequence the work that adds Refine mine, process a
Slide 18: Capital Structure
CAPITAL STRUCTURE A tight share count remains one of the cleaner parts of the Noram setup. 100.13M C$1.07M C$0.15 405K SHARES OUTSTANDING FEB. 2026 FINANCING WARRANT EXERCISE OPTIONS OUTSTANDING C$0.10–C$0.80 exercise range Post-February 2026 financing 10.675M units @ C$0.10 10.675M warrants | 36 mo
Slide 19: Management, Board & Advisors
MANAGEMENT, BOARD & ADVISOR Current leadership across finance, exploration, corporate development, geology and public-company governance. Sandy MacDougall Chairman & Founder C. Tucker Barrie, Ph.D., P.Geo. Independent Director Founder of Noram Lithium with 30+ years in investment banking and finance
Slide 20: Why Noram | Why Now
WHY NORAM | WHY NOW The next few months bring the first current economic look at Zeus since 2021. Scale 586 Mt Indicated plus 300 Mt Inferred in the current 2024 resource. Core 166 Mt Indicated higher-grade core at 1,121 ppm Li. Work done 92 holes, seven drilling phases and 7,777 m of drilling. Loca
Slide 21: Noram Lithium Corp.
NORAM LITHIUM CORP. Zeus Lithium Project | Clayton Valley, Nevada Investor Relations Sean Davis 604.838.6158 Sean@noramlithiumcorp.com noramlithiumcorp.com TSXV: NRM | OTCQB: NRVTF | FRA: N7R
Slide 22: Technical References
TECHNICAL REFERENCES 01 SRK Consulting (U.S.), Inc. — NI 43-101 Technical Report, Mineral Resource Estimate, Zeus Project; effective May 15, 2024; report dated July 10, 2024. 02 ABH Engineering — Preliminary Economic Assessment, Zeus Project, December 2021. 03 Noram Lithium — Final Phase VII Drill R
Noram Lithium — Investor Presentation (September 2026) on 6ix