Toronto, Ontario TheNewswire – February 12, 2021 Noble Mineral Exploration Inc. is pleased to announce that it has completed its previously announced acquisition of 39 mining claims in MacDiarmid and Loveland Townships from International Explorers& Prospectors Inc . The transaction has been approved by the TSX Venture Exchange. While historic exploration data is available from the Ontario Government, much of it …
Toronto, Ontario TheNewswire – February 12, 2021 Noble Mineral Exploration Inc. ( “Noble” or the “Company” ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it has completed its previously announced acquisition of 39 mining claims (the “ Claims ”) in MacDiarmid and Loveland Townships from International Explorers& Prospectors Inc (“ IEP ”). (See Noble’s news releases of January 19, 2021 and February 2, 2021 for details of the transaction.) The transaction has been approved by the TSX Venture Exchange.
While historic exploration data is available from the Ontario Government, much of it online, IEP has access to unpublished exploration data that will be of great value in exploring MacDiarmid and Loveland Townships. A Mineral Exploration Research Center-industry consortium project is currently acquiring high resolution audio magneto-telluric (AMT) data within parts of this area to better understand the 3D distribution of sulfide-bearing units.
Terms of the transaction are as follows:
– payment of $25,000 cash by Noble;
– issuance of 250,000 common shares of Noble;
– transfer of 100,000 common shares of CNC from Noble’s holdings; and
– the transfer of $500,000 of assessment credits to IEP at the request of IEP at any time up to December 31, 2021.
All 39 mining claims to be acquired are subject to a 0.25% net smelter returns royalty (the “ First Nations Royalty ”), and 4 of the mining claims to be acquired are also subject to a 2.0% net smelter returns royalty held by other parties (the “ Existing Royalty ”). Both the First Nations Royalty and the Existing Royalty will continue to apply. For the 35 mining claims that are not subject to the Exiting Royalty, a 1.75% net smelter returns royalty will be granted to IEP (the “ IEP Royalty ”). Noble will have a purchase right applicable to the Existing Royalty and IEP Royalty which, if exercised through a payment of $1,000,000, would vest in Noble 0.25% of the Existing Royalty (out of the total 2.0%) and 0.875% of the IEP Royalty (out of the total 1.75%).
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. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at 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
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