Noble Acquires Newfoundland Claim
Toronto, Ontario – TheNewswire - May 30, 2023 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) announces that it has entered into an agreement with a vendor (the “Vendor”) to acquire one mining claim (the “Claim”) in Newfoundland covering an area of approximately 175 hectares (the “Transaction”). For further details regarding the Claim, please refer to the section entitled “Newfoundland Project” of the news release issued by Noble on January 17, 2023 (see Figure 1).
Pursuant to the Transaction, Noble is acquiring the Claim through the issuance of 25,000 common shares of Noble which will be subject to a four month hold period and payment of $5,000 Canadian dollars in cash. Under the Transaction, the Vendor will retain a 2% net smelter royalty (“NSR”) with Noble having the right to buy back 1% NSR for $500,000 Canadian dollars and the remaining 1% NSR for 1,000,000 Canadian dollars. The Transaction is subject to approval of the Board of Directors and the TSX Venture Exchange.
Figure 1: Newfoundland new Property in relation to Spruce Ridge Drilling and Property
About Noble Mineral Exploration Inc.:
About Noble Mineral Exploration Inc. Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as its ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, its ~518 hectares in the Laverlochere Nickel, Copper, PGM property, all of which are in the Province of Quebec. More detailed information is available on the website at: https://www.noblemineralexploration.com
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.
Neither 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
H. Vance White, President