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Drill Results Deliver Highest Lithium Values to Date from Alba and Noram's Clayton Valley Project

15.02.2017  |  Newsfile
Vancouver, February 15, 2017 - Alba Minerals Ltd. (TSXV: AA.H) (OTC Pink: AXVEF) ("Alba") and Noram Ventures Inc. (TSXV: NRM) (FSE: N7R) (OTCBB: NRVTF) ("Noram" or the "Company") are pleased to announce the initial sample results from the first 10 holes of the 46-hole Phase I core drilling program that focused on the Zeus portion of its Clayton Valley Lithium Project in Nevada (see Figure 1) (http://www.noramventures.com/Maps/Figure-1_CV-SBE.jpg). The Zeus claims are located within two kilometers (1.25 miles) of Albemarle's Silver Peak Lithium Mine that has been in production since 1966 and is the only lithium-brine production operation in North America.

The 10 holes consisted of 139.3 meters (457 feet) of core drilling with an average hole depth of 13.9 meters (45.7 feet) and core sampling done primarily on 1.22 meter (4-foot) intervals. Bradley C. Peek, MSc and Certified Professional Geologist supervised the collection of the cores and samples; and sample analysis was performed by ALS Labs (Reno, NV) on 116 samples from the 10 holes using a 4-acid digestion and MS-ICP methods for 48 elements.

Table 1 lists each drill hole's location (NAD 83, Zone 11S), elevation and depth - all in meters. All holes were vertical. All core size was BQ.

Table 1 - Drill Hole Location Information
Hole ID UTM
Easting
UTM
Northing
Approx.
Elev.

Depth

Dip
CVZ-01 455519.5 4180579.7 1369.6 15.1 -90
CVZ-02 455574.9 4180542.2 1353.7 14.6 -90
CVZ-03 455583.5 4180419.2 1357.4 14.5 -90
CVZ-04 455652.1 4180441.4 1357.9 14.0 -90
CVZ-05 455624.4 4180375.4 1360.8 13.4 -90
CVZ-06 455840.1 4180350.4 1362.5 11.0 -90
CVZ-07 455608.8 4180596.2 1356.3 14.6 -90
CVZ-08 455684.3 4180599.5 1357.0 14.5 -90
CVZ-09 456084.3 4180778.6 1369.3 15.2 -90
CVZ-12 456147.2 4180742.4 1371.4 12.2 -90

Drill holes CVZ-01 through CVZ-08 are located in an area measuring approximately 366 meters (1,200 feet) by 213 meters (700 feet ). The other two holes, CVZ-09 and CVZ-12 are located approximately 366 meters (1,200 feet) northeast of the main drill-hole grouping (see Figure 2) (http://www.noramventures.com/Maps/CV_Phase-1-Drill-Hole-Map.jpg). Lithium values were found to be very consistent across both groupings.

Table 2 lists the samples, their intervals, their weights and their lithium analytical results. The core holes were vertical and the sedimentary units that were tested are horizontal or dipping at less than 5º, so the intervals sampled are true widths.

Hole ID
Sample
ID
Sample
Wt. (kg)
From
(ft)
To
(ft)
From
(m)
To
(m)
Li
(ppm)
CVZ-01 289501 0.76 0 4 0.00 1.22 1010
CVZ-01 289502 0.4 4 8 1.22 2.44 1010
CVZ-01 289503 0.58 8 12 2.44 3.66 1050
CVZ-01 289504 0.8 12 16 3.66 4.88 1120
CVZ-01 289505 0.7 16 20 4.88 6.10 840
CVZ-01 289506 0.82 20 24 6.10 7.32 940
CVZ-01 289507 0.66 24 28 7.32 8.53 790
CVZ-01 289508 0.72 28 32 8.53 9.75 750
CVZ-01 289509 0.7 32 36 9.75 10.97 760
CVZ-01 289510 0.72 36 40 10.97 12.19 1010
CVZ-01 289511 0.76 40 44 12.19 13.41 710
CVZ-01 289512 0.76 44 48 13.41 14.63 910
CVZ-01 289514 0.36 48 49.5 14.63 15.09 990
CVZ-02 289515 0.42 0 4 0.00 1.22 940
CVZ-02 289516 0.96 4 8 1.22 2.44 1410
CVZ-02 289517 0.76 8 12 2.44 3.66 1000
CVZ-02 289518 0.86 12 16 3.66 4.88 1060
CVZ-02 289519 0.9 16 20 4.88 6.10 770
CVZ-02 289520 0.72 20 24 6.10 7.32 920
CVZ-02 289521 0.56 24 28 7.32 8.53 1140
CVZ-02 289522 0.4 28 32 8.53 9.75 1090
CVZ-02 289523 0.62 32 36 9.75 10.97 850
CVZ-02 289525 0.72 36 40 10.97 12.19 920
CVZ-02 289526 0.8 40 44 12.19 13.41 780
CVZ-02 289527 0.62 44 48 13.41 14.63 720
CVZ-03 289551 0.34 0 4 0.00 1.22 1630
CVZ-03 289552 0.9 4 8 1.22 2.44 1190
CVZ-03 289553 0.86 8 12 2.44 3.66 1100
CVZ-03 289554 0.92 12 16 3.66 4.88 1330
CVZ-03 289555 0.8 16 20 4.88 6.10 810
CVZ-03 289556 0.82 20 24 6.10 7.32 910
CVZ-03 289557 0.86 24 28 7.32 8.53 1300
CVZ-03 289558 0.48 28 32 8.53 9.75 1220
CVZ-03 289559 0.7 32 36 9.75 10.97 1200
CVZ-03 289560 0.86 36 40 10.97 12.19 1280
CVZ-03 289561 0.92 40 44 12.19 13.41 950
CVZ-03 289562 0.64 44 47.5 13.41 14.48 1050
CVZ-04 289563 0.94 0 4 0.00 1.22 1850
CVZ-04 289564 0.6 4 8 1.22 2.44 1200
CVZ-04 289565 0.84 8 12 2.44 3.66 1050
CVZ-04 289566 0.72 12 16 3.66 4.88 1160
CVZ-04 289567 0.72 16 20 4.88 6.10 880
CVZ-04 289568 0.66 20 24 6.10 7.32 1090
CVZ-04 289569 0.68 24 28 7.32 8.53 1290
CVZ-04 289570 0.86 28 32 8.53 9.75 670
CVZ-04 289571 0.94 32 36 9.75 10.97 920
CVZ-04 289572 0.76 36 40 10.97 12.19 860
CVZ-04 289573 0.84 40 44 12.19 13.41 1010
CVZ-04 289574 0.26 44 46 13.41 14.02 1100
CVZ-05 289576 0.3 0 4 0.00 1.22 1530
CVZ-05 289577 0.8 4 8 1.22 2.44 1610
CVZ-05 289578 0.72 8 12 2.44 3.66 1500
CVZ-05 289579 0.7 12 16 3.66 4.88 1630
CVZ-05 289580 0.76 16 20 4.88 6.10 1110
CVZ-05 289581 0.88 20 24 6.10 7.32 1000
CVZ-05 289582 0.74 24 28 7.32 8.53 900
CVZ-05 289583 0.38 28 32 8.53 9.75 930
CVZ-05 289584 0.74 32 36 9.75 10.97 1240
CVZ-05 289585 0.8 36 40 10.97 12.19 880
CVZ-05 289586 0.84 40 44 12.19 13.41 860
CVZ-06 289543 0.72 0 4 0.00 1.22 1400
CVZ-06 289544 0.9 4 8 1.22 2.44 990
CVZ-06 289545 0.72 8 12 2.44 3.66 980
CVZ-06 289546 1.02 12 16 3.66 4.88 1400
CVZ-06 289547 0.76 16 20 4.88 6.10 2320
CVZ-06 289548 0.94 20 24 6.10 7.32 1290
CVZ-06 289549 1.3 24 28 7.32 8.53 940
CVZ-06 289550 1.74 28 32 8.53 9.75 1040
CVZ-06 289601 1.22 32 36.25 9.75 11.05 940
CVZ-07 289631 0.54 0 4 0.00 1.22 1050
CVZ-07 289632 0.76 4 8 1.22 2.44 1130
CVZ-07 289633 0.9 8 12 2.44 3.66 1280
CVZ-07 289634 0.82 12 16 3.66 4.88 970
CVZ-07 289635 0.94 16 20 4.88 6.10 970
CVZ-07 289636 0.92 20 24 6.10 7.32 750
CVZ-07 289637 0.84 24 28 7.32 8.53 1010
CVZ-07 289638 1.12 28 32 8.53 9.75 990
CVZ-07 289639 0.58 32 36 9.75 10.97 900
CVZ-07 289640 0.84 36 40 10.97 12.19 940
CVZ-07 289641 0.42 40 44 12.19 13.41 810
CVZ-07 289642 0.74 44 48 13.41 14.63 690
CVZ-08 289588 0.42 0 4 0.00 1.22 1020
CVZ-08 289589 0.68 4 8 1.22 2.44 1080
CVZ-08 289590 0.56 8 12 2.44 3.66 1010
CVZ-08 289591 0.48 12 16 3.66 4.88 1130
CVZ-08 289592 0.56 16 20 4.88 6.10 1340
CVZ-08 289593 0.94 20 24 6.10 7.32 1150
CVZ-08 289594 0.92 24 28 7.32 8.53 980
CVZ-08 289595 0.88 28 32 8.53 9.75 870
CVZ-08 289596 0.5 32 36 9.75 10.97 600
CVZ-08 289597 0.8 36 40 10.97 12.19 890
CVZ-08 289598 1 40 44 12.19 13.41 1070
CVZ-08 289599 0.8 44 48 13.41 14.63 850
CVZ-09 289603 0.52 0 4 0.00 1.22 1020
CVZ-09 289604 0.74 4 8 1.22 2.44 980
CVZ-09 289605 0.72 8 12 2.44 3.66 1180
CVZ-09 289606 0.8 12 16 3.66 4.88 1260
CVZ-09 289607 0.66 16 20 4.88 6.10 1630
CVZ-09 289608 0.54 20 24 6.10 7.32 930
CVZ-09 289609 0.54 24 28 7.32 8.53 1220
CVZ-09 289610 0.72 28 32 8.53 9.75 1460
CVZ-09 289611 0.7 32 36 9.75 10.97 1800
CVZ-09 289612 0.76 36 40 10.97 12.19 1590
CVZ-09 289613 0.3 40 44 12.19 13.41 1320
CVZ-09 289614 0.36 44 48 13.41 14.63 1210
CVZ-09 289615 0.38 48 50 14.63 15.24 1050
CVZ-12 289617 0.66 0 4 0.00 1.22 1060
CVZ-12 289618 0.52 4 8 1.22 2.44 1110
CVZ-12 289619 0.24 8 12 2.44 3.66 1010
CVZ-12 289620 0.22 12 16 3.66 4.88 920
CVZ-12 289621 0.92 16 20 4.88 6.10 980
CVZ-12 289622 1.28 20 24 6.10 7.32 1780
CVZ-12 289623 0.98 24 28 7.32 8.53 1050
CVZ-12 289624 1.04 28 32 8.53 9.75 860
CVZ-12 289625 1.12 32 36 9.75 10.97 1070
CVZ-12 289626 1.08 36 40 10.97 12.19 1030

Samples intervals were split by geologists at the drilling program staging area. Half of the core was retained in the core boxes for future review and/or sampling. The other half was securely sent to ALS Laboratories in Reno, Nevada, USA for testing. Core recovery for these first 10 core holes averaged 79.5%.

The lithium content of the 116 samples had an interval-weighted average of 1,087.1 ppm with a minimum value of 600 ppm and a maximum value of 2,320 ppm, both over 1.22m (4 ft) intersections. The samples had a median value of 1020 ppm Li. These results are well above those seen in the 73 surface samples collected from the drilling area and analyzed during exploration work in 2016 and indicate that some leaching of the lithium has occurred at surface.

Laboratory standards with two different lithium ranges (1,237 ppm and 783 ppm) were inserted into the sample stream, along with lithium blanks and duplicate samples (8 QA/QC samples, in all, with this sample batch). The standards and blanks were obtained from MEG Labs of Reno, Nevada, USA. Duplicate samples were obtained by splitting the remaining half of the split core (1/4 of the original core). All analyses of the standards, blanks and duplicates were well within acceptable ranges.

"These initial results are better than expected and it is rare to see drill core sample values that exceed the best of previously reported surface-sampling results (Dec 8 2016) (http://www.noramventures.com/News_Archive/2016/NEWS_12-08-16.html). The amazing consistency of the lithium values, both vertically and horizontally, across the initial 10 holes is also very encouraging," said Sandy McDougall, Chairman.

Analytical results from the remaining 36 drill holes from the Phase 1 drilling program are pending.

Noram is amassing one of the largest land packages in Nevada's Clayton Valley. Its non-contiguous North and South Blocks now total 888 claims covering 17,738 acres and are positioned both north and south of Albemarle's Silver Peak mine, North America's only lithium producer.

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.

About Alba Minerals Ltd.:

Alba Minerals Ltd. (TSXV: AA.H) (OTC Pink: AXVEF) is a Vancouver based junior resource company focusing on the development of Lithium properties in the Clayton Valley of Nevada where drill results have delivered the highest Lithium values to date. Alba also continues to move forward on it's Salta Lithium Project in Argentina.

Please visit our web site for further information: www.albamineralsltd.com or call (604) 662-7902.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ "Arthur Brown"

CEO & 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 circumstance 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.

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