Base Metals

Nobel29 Resources Corp. (TSX-V: NBLC) (the "Company" or "Nobel29") announces results of channel sampling at surface and underground from its Algarrobo Iron Oxide copper-gold project (the "Project") in Chile (Figure 1 Location Map). The Company has completed an extensive chip-channel sampling program on underground and surface exposures of mineralization at its Algarrobo copper gold project in advance of its drill program. A total of 133 chipchannel samples were collected from the existing workings as well as trenches and surfaces exposures. The mineralization is typically characterized by very high grade veins ranging from 0.5 to 5 meters thick with mineralized wall rock adjacent that commonly has copper grades that can vary from 0.8% to 5% copper where they can sampled. The mining has been geared to high grade, small scale production for direct shipping +12% copper ore to the Enami smelter 45 km south in the city of Copiapo, and as such the narrow working generally do not expose the entire width of the mineralized wall rock as it does not meet the direct shipping cutoff grade. A complete list of the samples and results is included below. Additional information in respect of the Algarrobo Project can be found the Company's technical report prepared by Richard T. Walker, M.Sc., P. Geo. and Enrique Grez Armanet, B.Sc., P. Geo. titled "NI 43-101 Technical Report Algarrobo Property III Region, Chile at 27° 02' 34' E Latitude, 70° 33' 52' Longitude" with an effective date of February 28, 2021, which has been filed on SEDAR ( www.sedar.com ) (the "Technical Report").

Diamond drilling and ground magnetic surveys have commenced on the Project and results will be announced as they become available. According to David Gower, P.Geo., CEO, "We are incredibly excited to commence the work to delineate the resources on this Project. It's very rare to see copper grades as high as we see on this Project. This is a large mineralized system that extends for at least 6 kilometers along strike based on the historical workings in the area and sampling done by Nobel29 geologists. Having recently closed a capital raising of approximately $9 million that was escrowed until trading commenced this week, the Company is well financed to execute on a major drill campaign at Algarrobo."

Highlights

  • Chip/channel samples across the high-grade mineralized structures have returned values as high as 36.22% copper with numerous samples grading from 5 % to 30% copper (Table 1).
  • Copper-rich samples show consistent gold enrichment with values ranging from 0.24-3.37 g/t gold and locally values as high as 15 g/t and 27.4 g/t gold.
  • Artisanal mining has been producing ore to a 12% copper cut off and direct shipping it to the smelter in Copiapo for treatment.
  • Workings on the Project generally do not exceed 40 meters depth, however historical mining to 350 meters depth has occurred on an adjacent property and to 500 meters within 5 km of the Project.
  • The Project is characterized by a very extensive mineralized system that extends at least 6 km along strike in a northeast direction and major mineralized veins form a horsetail structure that is more than 2 km across strike. Besides the numerous major vein structures there are thousands of smaller copper mineralized veins with varying orientations that have not been sampled within the mineralized area (see Figure 2).
  • The Project is in an area with excellent infrastructure, 25 km by paved highway from the port of Caldera and 45 km north of the smelting complexes located in the city of Copiapo also by paved highway.

Table 1: Highlights from the rock sampling program.

SAMPLE N° SOURCE WIDTH (m) TYPE Cu% Au (g/t) VEIN
58148 Underground 1.20 Vein 36.22 0.80 VETA GRUESA
58140 Surface 0.50 Vein 30.77 2.05 EMILIANA
58134 Surface 0.85 Vein 24.43 0.52 MM
58141 Underground 0.50 Vein 22.94 1.09 DESCUBRIDORA
55852 Surface 0.65 Vein 0.21 27.40 DESCUBRIDORA
58150 Underground 1.10 Vein 18.11 0.99 MM
58139 Underground 0.80 Vein 16.96 2.31 DESCUBRIDORA
58109 Underground 0.40 Vein 16.37 1.64 DESCUBRIDORA
58110 Surface 0.70 Vein 14.16 3.99 DESCUBRIDORA
58112 Underground 0.40 Vein 5.77 15.00 DESCUBRIDORA
58147 Surface 0.50 Vein 16.02 0.51 VETA GLORIA
58149 Underground 2.00 Vein 14.15 2.05 DESCUBRIDORA
58143 Underground 0.45 Vein 14.07 1.79 ESTACA FALSA
58114 Underground 3.00 Vein 10.3 3.37 DESCUBRIDORA
58133 Surface 1.00 Vein 11.15 2.14 MM
58135 Surface 0.85 Vein 10.68 0.60 MM
58128 Underground 1.00 Vein 9.71 0.40 VETA GRUESA
58144 Surface 0.45 Vein 8.97 0.17 GLORIA
58130 Surface NO Waste 8.80 0.03 VETA GLORIA
58123 Underground 2.00 Vein 7.79 0.24 VETA GRUESA
58129 Surface 2.00 Vein 7.77 0.26 VETA GRUESA
58113 Underground 0.80 Vein 4.70 1.74 DESCUBRIDORA
55853 Surface 0.85 Vein 5.14 0.42 MM


https://www.globenewswire.com/NewsRoom/AttachmentNg/e4d67991-02ef-4e9b-937e-9899529b6267

Figure 1: Location of the Algarrobo IOCG Project.

https://www.globenewswire.com/NewsRoom/AttachmentNg/8f703e58-5b82-43ae-a3be-830d8947b739

Figure 2: Map of the northeast part of the Property showing the numerous major mineralized structures sampled by Nobel29 and from which production has occurred. The area with the historical and current mine workings is concentrated in the northeaster quadrant of the Property extending approximately six km along strike in a southwesterly direction. The numbers beside certain of the sample site refer to copper values in % from the high grade vein systems. The inset map showing the Gloria Vein occurs 3 km southwest along the trend and off the map.

Sampling Procedure

Rock chip samples were acquired perpendicular to the mineralized structures in a strip 20 cm wide and 2 to 3 cm deep. Samples were an average of approximately 1.0 m in length, not less than 0.4 m in length and range up to 3 meters in length. In exceptional cases, samples of less than 0.20 m were taken. Approximately 130 linear m of variably mineralized veins and structures were sampled. Sections to be sampled were selected and marked with paint by the supervising Geologist according to the mineralization characteristics of the different units and considering their contact relationships. Samples of the wall rock were taken adjacent to the mineralized veins, however sampling did not cross the lithological boundary. A total of 133 samples, approximately 3.5 kg each, were collected, with 26 samples inserted for Quality control (16.35% of the total samples analyzed), including duplicates (5.03%), reference material (standards 6.29%) and sterile samples (blanks 5.03%). Samples were bagged, labeled and submitted to ALS Global Laboratory for assay. Samples were prepared according to a standard, resulting in pulps with 85% at

Stock Options

The Company has granted a total of 1,550,000 stock options to various directors and officers pursuant to its stock option plan. The options may be exercised at a price of $0.64 per option for a period of five years from the date of grant. The grant of options remains subject to the approval of the TSX Venture Exchange.

FOR FURTHER INFORMATION PLEASE CONTACT:

David Gower

Nobel29 Resources Corp.

Telephone: (416) 356-4839

Email: dgower@nobel-resources.com

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Vernon Arseneau, P.Geo, and Mr. David Gower P.Geo., Qualified Persons as defined by National Instrument 43-101 of the Canadian Securities Administrators.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the mineralization of the Project, the prospectivity of the Project, the Company's exploration program and the results thereof, the Company's drill program and the grant of stock options and the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel29, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel29 has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel29 does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.


PROJECT: ALGARROBO Au-AA23 Cu-AA62 Co-AA62
TABLE 2: ASSAYS FOR ALL SAMPLES FROM THE INITIAL MAPPING PROGRAM - ALGARROBO PROJECT Au Cu Co
SAMPLE N° WGS84_E WGS84_N ALT. SOURCE WIDTH (m) TYPE ppm % % VEIN
58001 STD1 STD1 STD1 STD1 STD1 STD1 0.501 3.826 0.031
58002 344654 7009455 951 Surface 0.90 Host Rock 0.016 0.687 0.009 NN
58003 344654 7009455 951 Surface 0.75 Vein 0.036 0.1 0.002 NN
58004 344654 7009455 951 Surface 0.50 Vein 0.277 0.294 0.004 NN
58005 344654 7009455 951 Surface 0.75 Vein 0.06 0.127 0.004 NN
58006 344654 7009455 951 Surface 1.05 Host Rock 0.11 0.587 0.013 NN
58007 345425 7009036 1149 Surface 0.90 Host Rock 0.028 1.646 0.033 MM1
58008 345425 7009036 1149 Surface 0.80 Vein 0.132 0.292 0.002 MM1
58009 345425 7009036 1149 Surface 1.50 Vein 1.52 0.133 0.002 MM1
58010 345425 7009036 1149 Surface 0.75 Vein 0.103 0.103 0.012 MM1
58011 345425 7009036 1149 Surface 1.00 Host Rock 0.022 2.262 0.078 MM1
58012 345617 7009054 1177 Surface 2.05 Vein 0.217 0.323 0.022 MM0
58013 345617 7009054 1177 Surface 1.30 Host Rock 0.262 1.339 0.048 MM0
58014 345471 7009042 1156 Surface 0.85 Vein 0.147 2.799 0.021 MM0
58015 345471 7009042 1156 Surface 2.20 Vein 0.607 0.612 0.021 MM0
58016 345471 7009042 1156 Surface 0.90 Host Rock 0.354 1.851 0.009 MM0
58017 345360 7009035 1107 Surface 0.80 Host Rock 0.425 0.045 MM2
58018 345360 7009035 1107 Surface 1.10 Vein 0.486 0.142 0.003 MM2
58019 345360 7009035 1107 Surface 1.60 Vein 0.044 1.043 0.063 MM2
58020 345360 7009035 1107 Surface 0.75 Vein 0.252 0.301 0.018 MM2
58021 STD2 STD2 STD2 STD2 STD2 STD2 1.265 0.446 0.007
58022 345314 7009030 1091 Adit 0.95 Vein 1.84 0.736 0.038 MM3
58023 345314 7009030 1091 Adit 2.80 Host Rock 0.011 0.214 0.02 MM3
58024 345314 7009030 1091 Adit 1.00 Host Rock 0.042 1.143 0.009 MM3
58025 345183 7008810 1031 Surface 0.90 Vein 0.474 0.756 0.027 2A
58026 345183 7008810 1031 Surface 0.20 Vein 0.037 0.195 0.002 2A
58027 345183 7008810 1031 Surface 0.80 Host Rock 0.018 0.072 0.002 2A
58028 345154 7008825 1031 Surface 0.75 Vein 0.146 0.976 0.022 2A
58029 345090 7009035 1019 Adit 1.05 Vein 0.055 2.915 0.111 MM4
58030 345090 7009035 1019 Adit 1.30 Brecha 0.183 1.937 0.119 MM4
58031 345099 7009035 1019 Adit 1.10 Host Rock 0.087 0.319 0.128 MM4
58032 345099 7009035 1019 Adit 1.15 Vein 0.194 0.676 0.148 MM4
58033 344621 7008985 974 Surface 1.05 Vein 0.025 0.05 0.014 MM5
58034 344621 7008985 974 Surface 1.20 Host Rock 0.023 0.038 0.022 MM5
58035 344621 7008985 974 Surface 0.95 Host Rock 0.005 0.015 0.011 MM5
58036 343694 7007910 908 Surface 1.20 Host Rock 0.033 0.451 0.022 DESCUBRIDORA
58037 343694 7007910 908 Surface 1.25 Vein 3.02 0.463 0.05 DESCUBRIDORA
58038 343694 7007910 908 Surface 2.30 Host Rock 0.832 0.091 0.026 DESCUBRIDORA
58039 343556 7007893 873 Adit 1.15 Host Rock 0.098 3.534 0.023 DESCUBRIDORA
58040 343556 7007893 873 Adit 0.50 Vein 3.92 1.576 0.056 DESCUBRIDORA
58041 STD3 STD3 STD3 STD3 STD3 STD3 >10.0 1.627 0.007
58042 343663 7007605 937 Adit 0.60 Vein 1.995 6.611 2.38 ESTACA FALSA
58043 343663 7007605 937 Adit 1.00 Host Rock 0.042 0.807 0.055 ESTACA FALSA
58044 343727 7007599 962 Surface 0.65 Vein 0.245 0.811 0.046 ESTACA FALSA
58045 343714 7007648 946 Surface 0.95 Vein 0.013 0.207 0.006 ESTACA
58046 343714 7007648 946 Surface 1.50 Brecha 0.295 6.168 0.131 ESTACA
58047 344284 7007014 917 Surface 1.30 Host Rock 0.242 2.483 0.221 VETA GRUESA
58048 344284 7007014 917 Surface 1.50 Vein 0.106 1.236 0.031 VETA GRUESA
58049 344284 7007014 917 Surface 1.00 Host Rock 0.068 0.584 0.058 VETA GRUESA
58050 BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO 0.003 0.001 BCO. GRUESO
58051 BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO 0.001 BCO. FINO
58052 344284 7007014 917 Surface 0.80 Host Rock 0.023 1.504 0.026 VETA GRUESA
58053 344444 7007078 916 Surface 1.00 Host Rock 0.092 2.552 0.061 VETA GRUESA
58054 344444 7007078 916 Surface 0.45 Vein 0.327 0.394 0.012 VETA GRUESA
58055 344444 7007078 916 Surface 0.80 Host Rock 0.023 0.375 0.043 VETA GRUESA
58056 344444 7007078 916 Surface 0.90 Host Rock 0.018 0.964 0.038 VETA GRUESA
58057 343661 7007887 907 Surface 0.90 Vein 0.724 1.414 0.089 DESCUBRIDORA
58058 341607 7006450 721 Surface 0.60 Vein 0.619 1.885 0.045 VETA GRUESA
58059 341607 7006450 721 Surface 0.70 Vein 0.301 4.155 0.196 VETA GRUESA
58060 STD1 STD1 STD1 STD1 STD1 STD1 0.553 3.787 0.031
58061 341398 7006469 708 Surface 1.00 Host Rock 0.056 0.819 0.067 DESCUBRIDORA
58062 341398 7006469 708 Surface 1.20 Host Rock 0.078 1.059 0.108 DESCUBRIDORA
58063 341398 7006469 708 Surface 1.00 Vein 0.103 1.354 0.068 DESCUBRIDORA
58064 341398 7006469 708 Surface 1.20 Host Rock 0.086 0.582 0.098 DESCUBRIDORA
58065 341398 7006469 708 Surface 2.20 Vein 0.147 0.607 0.159 DESCUBRIDORA
58066 345407 7009114 1141 Surface 1.20 Vein 0.236 0.229 0.026 VETA VERDE
58067 345407 7009114 1141 Surface 0.25 Vein 0.815 4.824 0.231 VETA VERDE
58068 345407 7009114 1141 Surface 0.60 Host Rock 0.015 0.045 0.002 VETA VERDE
58069 345919 7009498 1085 Surface 1.10 Host Rock 1.92 1.634 0.016 VETA VERDE
58070 345919 7009498 1085 Surface 2.00 Vein 0.556 2.745 0.021 VETA VERDE
58071 345919 7009498 1085 Surface 2.00 Vein 0.323 0.656 0.005 VETA VERDE
58072 345919 7009498 1085 Surface 2.00 Host Rock 0.709 4.439 0.01 VETA VERDE
58073 346004 7010264 999 Adit 1.00 Host Rock 0.293 0.004 ECUADOR
58074 346004 7010264 999 Adit 0.80 Vein 3.15 0.625 0.005 ECUADOR
58075 346004 7010264 999 Adit 1.00 Host Rock 0.95 0.35 0.006 ECUADOR
58076 345189 7010359 983 Surface 0.60 Vein 0.058 0.624 0.034 MILLONARIA
58077 345189 7010359 983 Surface 0.80 Vein 0.177 1.017 0.021 MILLONARIA
58078 344873 7009765 985 Adit 1.25 Host Rock 0.08 0.394 0.018 RUBÉN
58079 344873 7009765 985 Adit 0.65 Vein 0.077 3.167 0.021 RUBÉN
58080 STD2 STD2 STD2 STD2 STD2 STD2 1.275 0.445 0.007
58081 344873 7009765 985 Adit 0.60 Vein 0.512 1.466 0.021 RUBÉN
58082 344873 7009765 985 Adit 1.00 Vein 2.72 3.402 0.01 RUBÉN
58083 345090 7009035 1019 Adit 0.80 Vein 0.113 0.661 0.047 MM4
58084 345780 7009091 1140 Surface 0.35 Vein 0.69 0.62 0.009 DESCUBRIDORA
58085 345780 7009091 1140 Surface 0.40 Host Rock 0.074 2.473 0.042 DESCUBRIDORA
58086 345780 7009091 1140 Surface 1.50 Vein 0.613 4.534 0.072 DESCUBRIDORA
58087 345780 7009091 1140 Surface 1.70 Host Rock 0.075 0.315 0.04 DESCUBRIDORA
58088 345803 7009049 1143 Surface 0.70 Host Rock 0.482 1.602 0.005 DESCUBRIDORA
58089 345803 7009049 1143 Surface 0.65 Vein 1.98 4.301 0.019 DESCUBRIDORA
58090 345803 7009049 1143 Surface 0.75 Host Rock 0.088 1.281 0.01 DESCUBRIDORA
58091 345803 7009049 1143 Surface 0.25 Vein 0.53 0.899 0.042 DESCUBRIDORA
58092 345803 7009049 1143 Surface 0.70 Vein 0.207 1.308 0.029 DESCUBRIDORA
58093 345803 7009049 1143 Surface 0.90 Host Rock 0.039 0.099 0.007 DESCUBRIDORA
58094 346206 7008971 1142 Surface 0.50 Vein 2.05 0.167 0.021 DESCUBRIDORA
58095 346206 7008971 1142 Surface 1.20 Host Rock 1.01 0.497 0.12 DESCUBRIDORA
58096 346011 7008751 1190 Adit 0.85 Vein 2.35 0.214 0.053 DESCUBRIDORA
58097 342321 7006995 883 Surface No Desmonte 0.016 4.335 0.008 VETA GRUESA
58098 342596 7006312 825 Surface 0.95 Host Rock 0.4 1.154 0.006 VETA GRUESA
58099 342596 7006312 825 Surface 0.90 Vein 1.18 1.107 0.011 VETA GRUESA
58100 BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO 0.006 0.003 BCO. GRUESO
58101 BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO 0.019 0.001 BCO. FINO
58102 342596 7006312 825 Surface 0.95 Host Rock 0.473 3.13 0.005
58103 339509 7002477 717 Surface 0.60 Vein 0.366 7.262 0.116 VETA GLORIA
58104 339509 7002477 717 Surface 1.00 Host Rock 0.012 0.071 0.02 VETA GLORIA
58105 STD3 STD3 STD3 STD3 STD3 STD3 >10.0 1.622 0.009
58106 343778 7006231 818 Surface NO Vein 0.082 2.011 0.005 S/N
58107 343556 7007893 873 Surface 0.70 Vein 0.27 8.878 0.129 DESCUBRIDORA
58108 344701 7008113 1047 Surface Acopio Acopio 0.533 4.031 0.014 DESCUBRIDORA (San Sebastian)
58109 344701 7008113 1047 Adit 0.40 Vein 1.64 16.37 0.023 DESCUBRIDORA (San Sebastian)
58110 343591 7007900 899 Surface 0.70 Vein 3.99 14.16 0.057 DESCUBRIDORA
58111 343591 7007900 899 Surface 1.00 Vein 0.687 4.759 0.018 DESCUBRIDORA
58112 343591 7007900 899 Adit 0.40 Vein >10.0 5.773 0.132 DESCUBRIDORA
58113 343591 7007900 899 Adit 0.80 Vein 1.735 4.704 2.27 DESCUBRIDORA
58114 343591 7007900 899 Adit 3.00 Vein 3.37 10.3 0.117 DESCUBRIDORA
58115 343783 7006959 1060 Surface 1.00 Host Rock 0.032 0.095 0.082 VETA GRUESA
58116 343783 7006959 1060 Surface 0.80 Vein 0.091 0.197 0.04 VETA GRUESA
58117 343783 7006959 1060 Surface 0.50 Vein 0.095 1.584 0.23 VETA GRUESA
58118 343783 7006959 1060 Surface 1.05 Vein 0.113 0.226 0.04 VETA GRUESA
58119 343739 7006953 922 Surface 1.30 Host Rock 0.066 0.137 0.048 VETA GRUESA
58120 STD1 STD1 STD1 STD1 STD1 STD1 0.55 3.833 0.034 VETA GRUESA
58121 343739 7006953 922 Surface 1.25 Vein 0.056 0.153 0.046 VETA GRUESA
58122 343739 7006953 922 Surface 1.00 Vein 0.899 1.202 0.069 VETA GRUESA
58123 343930 7006930 920 Adit 2.00 Vein 0.244 7.786 0.022 VETA GRUESA
58124 343930 7006930 920 Adit 0.80 Host Rock 0.148 0.5 0.071 VETA GRUESA
58125 344284 7007014 917 Adit 1.00 Vein 0.141 0.215 0.044 VETA GRUESA
58126 344284 7007014 917 Adit 1.40 Host Rock 0.017 0.118 0.016 VETA GRUESA
58127 344284 7007014 917 Adit 1.00 Host Rock 0.014 1.516 0.177 VETA GRUESA
58128 344284 7007014 917 Adit 1.00 Vein 0.404 9.707 0.034 VETA GRUESA
58129 344310 7007019 927 Surface 2.00 Vein 0.257 7.771 0.845 VETA GRUESA
58130 339862 7002376 618 Surface NO Desmonte 0.031 8.804 0.074 VETA GLORIA
58131 STD1 STD1 STD1 STD1 STD1 STD1 0.643 3.702 0.03
58132 345231 7009463 1078 Surface 0.60 Vein 1.245 0.61 0.013 NN
58133 345231 7009463 1078 Surface 1.00 Vein 2.14 11.15 0.037 NN
58134 345494 7009045 1161 Surface 0.85 Vein 0.515 24.43 0.05 MM0
58135 345494 7009045 1161 Surface 0.85 Vein 0.599 10.675 0.16 MM0
58136 345570 7009051 1162 Surface 0.40 Vein 0.145 3.795 0.116 MM0
58137 BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO 0.015 0.001 BCO. GRUESO
58138 BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO 0.003 0.001 BCO. FINO
58139 344701 7008113 1047 Adit 0.80 2.31 16.96 0.033 DESCUBRIDORA (San Sebastian)
58140 344731 7008485 1084 Surface 0.50 2.05 30.77 0.033 EMILIANA
58141 344701 7008113 1047 Adit 0.50 1.09 22.94 0.026 DESCUBRIDORA (San Sebastian)
58142 STD1 STD1 STD1 STD1 STD1 STD1 0.526 3.739 0.03
58143 343663 7007605 937 Adit 0.45 1.79 14.07 0.232 ESTACA FALSA
58144 339509 7002477 717 Surface 0.45 0.174 8.965 0.137 GLORIA
58145 BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO BCO. GRUESO 0.032 0.001 BCO. GRUESO
58146 BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO BCO. FINO 0.003 0.001 BCO. FINO
58147 339937 7002367 652 Surface 0.50 Vein 0.514 16.015 0.071 GLORIA
58148 343930 7006930 920 Adit 1.20 Vein 0.804 36.22 0.311 VETA GRUESA
58149 343591 7007900 899 Adit 2.00 Vein 2.05 14.145 0.07 DESCUBRIDORA
58150 345314 7009030 1091 Adit 1.10 Vein 0.987 18.11 0.026 MM3
55851 346011 7008751 1190 Adit 0.85 Vein 0.703 0.009 0.212 DESCUBRIDORA
55852 346011 7008751 1190 Surface 0.65 Vein >10.0 0.205 0.04 DESCUBRIDORA
55853 345471 7009042 1156 Surface 0.85 Vein 0.415 5.138 0.041 MM0
55854 344284 7007014 917 Surface 1.50 Vein 0.072 0.691 0.038 VETA GRUESA
55855 343739 7006953 922 Surface 1.25 Vein 0.06 0.237 0.073 VETA GRUESA
55856 343556 7007893 873 Adit 0.50 Vein 1.75 1.227 0.074 DESCUBRIDORA
55857 344621 7008985 974 Surface 1.05 Vein 0.031 0.04 0.009 MM5
55858 344621 7008985 974 Surface 1.20 Vein 0.016 0.03 0.021 MM5
55859 341398 7006469 708 Surface 2.20 Vein 0.067 1.136 0.116 DESCUBRIDORA
55860 STD1 STD1 STD1 STD1 STD1 STD1 0.457 3.815 0.03



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Nobel Resources

Nobel Resources

Overview

The idea that copper is “the new oil" may seem strange at first, but there's good reason for these claims. With the copper industry facing a potential 4.7 million metric ton deficit by 2030—experts like Trafigura Group are now saying new mines will need to be built to supply the estimated 10 million tonnes required to meet global demands for this metal.

There's no denying how much global demand there is for copper. In the last year alone, prices have surged from US$2.50 per pound to US$4.58. This has led investors to shift their attention to Chile, the world's top copper producer, as they look to invest in companies capable of supplying this increasing demand.

Nobel Resources (TSXV:NBLC) (OTCQB:NBTRF) is a mining company that's looking to take advantage of mineralized IOCG deposits in Chile through its flagship Algarrobo project. The company is operating in northern Chile, a strategic and relatively unexplored project that boasts past production that has persisted for decades and continues today. Presently artisanal miners are are direct-shipping ore grading at least 12 percent copper to the plant in Copiapo for processing.

An Iron oxide copper gold ore deposit (IOCG) deposits tend to be large in size, metallurgically simple, relatively high-grade, and suitable for highly profitable mines. The famous Candelaria Mine in the region which is owned by the lundin Group is a member of this deposit classification.

Nobel Resources CEO, David Gower, notes that the area has “never really been explored from a modern perspective" and hopes that “we'll be the first group to go in and apply modern techniques to prove up what's a very large system of mineralization."

Gower also explained to INN how the “Chilean coastal copper belt… is one of the most prolific copper belts in the world." It boasts “exceptional grades," with initial underground sampling with values as high as an approximately 15-30 percent copper range. Copper and, to a lesser extent, gold make Chile the ideal location for a new mining investment project.

The Company is planning a drill campaign, commencing September 10, to test 5 large targets comprising magnetic and coincident IP anomalies and with associated copper mineralization identified near surface in most cases (Figure 2 below shows the targets and approximate locations of the planned drilling). The campaign will comprise 40-50 diamond drill holes ranging in depth from 100 meters to approximately 500 meters for a total of 10,000 – 12,500 meters of drilling. Given the large scale of particularly the Central Target, several long holes per section will be required to evaluate the anomalies. The configuration used for the IP survey penetrates to at least 400 meters and the anomalies persist to that depth. Typically, IOCG deposits have a large vertical extent that can exceed 1 km.

Chile is a world-class, top mining country that contains valuable IOCG deposits. The country's mining potential is even more lucrative when you consider that a large portion of the high-grade mineralization occurs close to the surface. The Algarrobo project is located within 25km of a port and a smelter, plant and mill are located 45km south by road in the nearby city of Copiapó.

Gower describes the opportunity as “a very unique story" and believes Nobel Resources's main project has “a bright future at least for the next few years." Drilling operations have already begun, and the physical program for the project is halfway to completion. The business has achieved a National Instrument (NI) 43-101 from Canada with this progress.

Having started with a C$5 million budget, the company successfully raised over C$9 million, allowing it to accelerate the project and deliver further results over the next 12 months, according to the CEO. As of April 2021, the company maintains a strong cash position. Nobel Resources boasts a fully-funded and permitted exploration program.

Fully diluted, the company has 71,440,690 shares outstanding, which includes 3,755,000 and 1,907,400 shares worth of options and warrants respectively. Nobel Resources can be an excellent opportunity for investors, as it allows them access to an advanced, high-grade IOCG project in an active region with great discovery potential.

Company Highlights

  • Nobel Resources has a fully funded and permitted exploration program with a tight capital structure and shareholder alignment.
  • The company boasts a proven leadership team, with CEO David Gower bringing over 20 years of industry experience through his time at Falconbridge (now Glencore), and serves as a current Director of Alamos Gold (TSX:AGI).
  • Initial samples taken at the Algarrobo project site revealed mineralized veins that may be capable of producing up to 14MM tonnes of copper and gold.
  • The company is operating in a mining-friendly jurisdiction with access to critical infrastructure and additional copper mines in the area.
  • Nobel Resources has the right to acquire 100 percent of the Algarrobo IOCG property.
  • Nobel Resources also received approval from the TSX Venture Exchange to acquire 100 percent of the La Salvadora project.

Key Project

Algarrobo IOCG Project in Chile

Algarrobo is an extensively mineralized iron oxide copper gold (IOCG) ore region with significant large-scale potential.

The project is strategically located in Chile because the country is a top mining jurisdiction. Chile's mining capabilities benefit from mineralization that is high-grade and close to the surface. Permits are already in place for the operation as well.

Algarrobo is also an ideal mining environment thanks to a low elevation of less than 1,000m above sea level. It's covered and surrounded mainly by a shallow sand cover in the Atacama desert. The ores are of exceptional grade, with mineralized structures in the northeast trend extending at least 6 km. A new mineralized trend called the Gloria Trend has been discovered in thesouth part of the property. Where the two mineralized trends intersect is precisely where the large Central target has been identified in an area that is dune covered and completely unexplored.

Geophysical anomalies and planned drilling at Algarobbo. Partiularly note the Central Target which is 4 km by 2.5 km in an area where the two mineralized structural trends intersect.

The region offers developed infrastructure that's capable of supporting the project. The operation in Algarrobo is within 25 km of port Caldera on the Pacific Ocean, and the world-class IOCG deposits are part of the Major Candelaria coastal belt. A smelter, plant and mill all owned by ENAMI (Chile's National Mining Company) are available for use within 45 km in Copiapó. Paved roads are accessible throughout for easy access.

The deposit type is comparable to that of the major Candelaria deposit 60 km down south or Michilla in the north

Algarrobo contains significant high-grade copper mineralization near the surface. An oxide layer extends over 100 meters in depth, and sulphide mineralization is making its way down 500 meters in adjacent mines. The materialized stockpile has a cut-off grade below 12 percent copper.

Related projects both in the surrounding area and in the past point to the region's high potential for profitable mining operations. Algarrobo is surrounded by mid and large-sized operations; 6 active copper mines can be found within 100 km. For instance, Lundin Mining's Candelaria mine is indicative of IOCG deposits in the district: a 2019A production boasting 320 Mlbs Cu and 88 Koz Au.

The Property has been undercapitalized and possesses a significant upside potential. Nobel is conducting the first systematic evaluation on the 6,161 ha land package and its ample mineralization potential. Deposit mining has only been completed up to 40m, compared to over 500m in adjacent properties. The veins range in thickness between 1m and 8m. The big prize however would be a large tonnage system of the scale Chile is renowned for and targets have been identified with that scale associated with the extensive copper mineralization on the Property.

Management Team

David Gower, P.Geo. – CEO

Mr. Gower has held Executive and Director positions with several junior and midsize mining companies for the past 12 years. He has worked with Emerita Resources Corp. and has served as President of Brazil Potash Corp. David spent over 20 years with Glencore (formerly Falconbridge) as Director of Global Nickel and PGM exploration and as a member of the Senior Operating Team for mining projects and operations. He led exploration teams that made brownfield discoveries at Raglan, Sudbury, Matagami and Falcondo and greenfield discoveries at Araguaia in Brazil, Kabanga in Tanzania and Amazonas in Brazil. Mr. Gower is a Director of Alamos Gold.

Lawrence Guy – Director

Mr. Guy is Chief Executive Officer of North 52nd Asset Management Inc. and Chair of Emerita Resources Corp. Previously, Larry was a Portfolio Manager with Aston Hill Financial Inc. Prior to Aston Hill, Mr. Guy was Chief Financial Officer and Director of Navina Asset Management Inc., a company he co-founded that was subsequently acquired by Aston Hill Financial Inc. Mr. Guy has also held senior offices at Fairway Capital Management Corp. and First Trust Portfolios Canada Inc. Mr. Guy holds a Bachelor of Arts (Economics) degree from the University of Western Ontario and is a Chartered Financial Analyst.

Jeff Glass – Director

Jeff Glass is a partner at Blakes, Cassels & Graydon LLP where he advises leading investment dealers and senior issuers on public financings and securities regulatory matters. He also founded the Firm's Investment Products & Asset Management Practice. Jeff has been involved in the reformulation of the regulations and policies of the Ontario Securities Commission and has assisted the Toronto Stock Exchange in a review of its policies and procedures for the regulation of listed entities.

Michael D. Shuh – Director

Michael leads Canaccord Genuity's Financial Institutions Group in Canada. Before he joined Canaccord Genuity in 2017, he was Head of Financial Institutions Investment Banking at CIBC and also worked at National Bank Financial. As well as covering traditional financial institutions, Michael has deep expertise in structured products and special purpose acquisition corps ( SPACs). He also provides advice on raising capital and M&A to alternative financiers and FinTech companies. Michael has a Bachelor of Business Administration Honors from the Lazaridis School of Business & Economics at Wilfrid Laurier University and a Master of Business Administration from the Richard Ivey School of Business at the University of Western Ontario.

Vernon Arseneau, P.Geo. – COO and Director

Mr. Arseneau has over forty years of experience in exploration, project management and development, of which the last twenty-five have been in South America, principally in Peru, Chile and Argentina. Vern spent 20 years working as exploration manager and senior geologist for Noranda Inc. in Canada and South America. He was general manager of Noranda's Peru office and project manager of the El Pachon porphyry Cu-Mo project in Argentina. He has consulted on numerous base and precious metals projects, including work as Vice President of Exploration for Zincore Metals Inc. Arseneau was responsible for the exploration and feasibility studies of two zinc deposits and the discovery of the Dolores Cu-Mo porphyry in Peru. More recently, he was COO of Royal Road Minerals Ltd. exploring for gold in Colombia and Nicaragua. Vern holds a Bachelor of Science in geology.

Greg Duras – CFO

Mr. Duras is a senior executive with over 20 years of experience in the resource sector in corporate development, financial management and cost control positions. He's held the position of CFO at several publicly traded companies, including Savary Gold Corp., Nordic Gold Corp and Avion Gold Corp. He is currently CFO of Red Pine Exploration. Greg is a Certified General Accountant and a Certified Professional Accountant and holds a Bachelor of Administration from Lakehead University.

Damian Lopez – Corporate Secretary

Mr. Lopez is a corporate securities lawyer who works as a legal consultant to various TSX and TSX Venture Exchange listed companies. He previously worked as a securities and merger & acquisitions lawyer at a large Toronto corporate legal firm, where he worked on a variety of corporate and commercial transactions. Mr. Lopez obtained a Juris Doctor from Osgoode Hall and has received a Bachelor of Commerce with a major in Economics from Rotman Commerce at the University of Toronto.

Paul Pint – Director

Paul Pint is a Chartered Professional Accountant with over 30 years of capital markets experience. Mr. Pint started his professional career in 1991 with Ernst & Young in the Financial Services Group. Beginning in 1995, he moved into Institutional Equities with CIBC World Markets. Over the next 20+ years he worked in various senior roles in the investment banking and equity sales industry, holding several senior roles with large Canadian banks as well as boutique investment banks and dealers.

Cyprium Metals Ltd AUD50M Secured Offtake Prepayment Facility for Nifty Copper

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce that it has entered into an exclusive Letter of Intent with Glencore International AG ("GLN" or "Glencore") for AUD50 million in respect of a Copper Cathode Offtake Secured Prepayment Facility which will be used for funding the Nifty Copper , as part of the debt financing for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs.

HIGHLIGHTS

- An exclusive Letter of Intent for a Secured Copper Cathode Prepayment Facility has been signed with Glencore, under which:

o Offtake arrangement for 100% of the Copper Cathode produced during Phase 1 of the Nifty Copper Project restart
o AUD50M Secured Offtake Prepayment Facility

- The Secured Offtake Prepayment Project Funding from Glencore is part of a total debt funding package for the Nifty Copper Project restart

- Advanced discussions are continuing with Senior Debt counterparties, who are undertaking due diligence activities and reviewing financing documentation

Managing Director Barry Cahill commented:

"We are very pleased to enter into an exclusive Letter of Intent for a Copper Cathode Offtake Secured Prepayment Facility with Glencore. This is part of a fully funded finance package for the restart of the Nifty Copper Project.

The restart project economics are very robust, and we have continued to make further improvements to the Nifty Copper Project during the financing process.

We are looking forward to completing our total funding package so that we can commence executing our Nifty Copper Project restart development plans."

This exclusive Letter of Intent includes a non-binding term sheet for both offtake arrangement and project funding. This is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project, which is expected to include senior secured financing and secured offtake financing.

Under the terms of the exclusive Letter of Intent, CYM and GLN will work towards finalising outstanding due diligence activities, and documentation for the project funding for execution, which is being done in conjunction with ongoing advanced discussions with the potential secured senior debt providers.

Key Terms of the Copper Cathode Prepayment Facility

Indicative terms - Offtake

- 100% of Copper Cathode produced at the Nifty Copper Project, up to a maximum of 120,000 tonnes

- Offtake pricing of copper cathode shipments determined by reference to average market rates

Indicative terms - Prepayment Facility

- Facility amount: AUD50 million

- Facility term: 60 months



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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