Base Metals

Nobel Resources Corp. (TSX–V: NBLC; OTC: NBTRF) (the "Company" or "Nobel") has received assays for 10 drill holes from its initial diamond drill program on its recently acquired Salvadora copper project in Chile (the "Project") (see Table 1 below). Copper mineralization has been intersected in all drill holes, including significant intervals grading more than 1% copper. Drill holes are located within two areas of the Project (Figure 3). Mineralization in both areas remains open. Results obtained to date have confirmed the discovery of a significant copper sulfide mineralized zone west of outcropping copper oxide mineralization. The sulfide mineralization is less than 70m below surface on average and remains open to the north, south and west as well as at depth. The potential for a covered oxide zone associated with a newly identified sulfide zone at the southern target area remains to be tested with additional drilling along with delineation of the outcropping oxide zone at the northern target area.

Results to date include:

  • SAL-001 intersected 12m grading 0.97% copper and 17m grading 0.69% copper within a 52m zone that graded 0.57 % copper.
  • SAL-008 intersected 6m grading 1.17% copper within a 27m zone grading 0.68% copper.
  • SAL-009 intersected 11m grading 1.1% copper within a 20.3 m grading 0.91% copper.
  • SAL-016 intersected 6m grading 0.97% copper, 8m grading 1.24% copper, 15m grading 1.3% copper and 15m at bottom grading 0.36% copper within a 72 m wide oxidized mineralized breccia with certain of the sampled intervals still with pending assays.
  • SAL-006 intersected 10m grading 0.96% copper within a 20m zone grading 0.64% copper.

Figure 1: Location of the Salvadora project is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/73db5aa6-4edd-4a43-b1ad-cdca83e8002c

La Salvadora Project

The La Salvadora iron oxide copper gold ("IOCG") project is located in the vicinity of the large Manto Verde (Anglo American) and Santo Domingo (Capstone Mining) IOCG deposits (Figure 2). The area is well serviced by all-weather roads and can be worked year-round. The region is well established as a mining area where community support is known to be strong and there is good access to infrastructure, including electricity, water and ports and mining infrastructure in region.

The initial drill program focused on two areas:

  1. Area of a reverse circulation hole (SLVA-RC-0002) which reported 72 meters grading 1.21% copper and 0.21 g/t gold. This area is wide open for expansion.
  2. A southern area with a distinct magnetic anomaly approximately 1 kilometer to the south with only a single drill hole in it (SLVA-RC-0010) which intersected 20 meters grading 0.6% copper and 0.15g/t gold at shallow depths.
  3. One drill hole, SAL-016, which was drilled into the outcropping oxide zone

All the holes drilled to date by Nobel have intersected mineralization containing chalcocite, chalcopyrite as well as specularite, pyrite, magnetite hosted in hydrothermal breccias varying in core thickness from 30 meters to 73.4 meters. Three drill holes ended in mineralization (SAL-09, SAL-11 and SAL-13) however casing was left in these holes and they can be completed later. The widest intersection to date on the southern target area was in hole SAL-008, (Figure 3), . This hole intersected 53m of mineralized breccia from 144m to 197m. including 27m grading 0.68%Cu.

The first five drill holes targeted the depth and lateral extensions down dip from previously identified copper oxide mineralization at surface in the vicinity of historical RC drill hole SLVA-RC-0002 (see news releases dated November 8, 2021 and January 26, 2022). Following completion of the initial scout holes on this target, the drill was moved to the area of a distinct magnetic anomaly, where holes 6 to 15 and 17 are located. Hole 16 is located within the outcropping oxide zone and was drilled to confirm previously reported reverse circulation assay results. Table 1 below summarizes the results from holes 3, and 6 to 17 inclusive.

Results obtained to date have confirmed the discovery of a significant buried mineralized sulfide zone west of the previously known outcropping oxide mineralization. The mineralization starts less than 70m below surface on average and remains open to the north, south and west as well as at depth. The potential for a hidden oxide zone associated with the new sulfide zone on the southern area remains to be tested with additional drilling.

According to David Gower, P.Geo., CEO of Nobel, "These are excellent results from the initial scout drilling program for the Project. Copper mineralization at shallow depths occurs in two areas more than 1 km apart. Geological work by our field crews indicate that it is possible that the southern zone represents a fault offset to the west of the northern area and its possible mineralization may be continuous between the two areas. There is an extensive copper mineralized system here that extends for well over a kilometer."

According to Vernon Arseneau, P.Geo., COO of Nobel, "The results obtained to date at Salvadora confirm the presence of at least two extensive mineralized bodies associated with hydrothermal breccias that are typical of deposits that are being mined presently in this area of Chile. It is very early in the exploration program, however drilling has demonstrated there is a thick zone of mineralized hydrothermal breccia that is continuous between the holes drilled to date. Subsequent exploration will attempt to expand the zones and delineate the higher grade areas. The Company is planning to complete this initial scout phase of drilling and use it to plan the next phase of drilling to better define size, continuity, and grade of these exciting targets."

Figure 2: Location map showing the La Salvadora Project as well as major projects and operations in the region is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dede9ef2-32fe-4415-a895-90b96aa7ea84

Figure 3: Location of the two target areas and drill holes at La Salvadora Project is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e882b009-e906-4bd3-aedb-8a582796ae1f


TABLE 1: DRILL HOLE ASSAYS

HOLE# FROM TO INTERVAL m COPPER% GOLD g/t North East Dip Azimuth
SAL-001 85 88 3 0.82 0.19 385004 7113277 -60 60
146 198 52 0.57
INCLUDING 149 161 12 0.97 0.15
AND 168 185 17 0.69
SAL-002 129 134 5 0.34 384965 7113243 -60 60
INCLUDING 132 134 2 0.58 0.13
154 158 4 0.37
INCLUDING 154 156 2 0.52 0.13
170 174 4 0.34
208 210 2 0.45
SAL-003 168 173 5 0.59 385050 7113257 -60 60
179 182 3 0.45
205 208 3 0.47
SAL-004 154 158 4 0.26 384971 7113334 -60 60
207 210 3 0.34
SAL-005 137 159 22 0.42 384935 7113369 -60 60
INCLUDING 139 149 10 0.65
SAL-006 180 200 20 0.64 385144 7112534 -60 60
INCLUDING 190 200 10 0.96 0.2
SAL-007 ASSAYS PENDING 385252.6 7112390.58 -60 60
SAL-008 159 186 27 0.68 0.11 385181 7112626.55 -60 60
INCLUDING 162 168 6 1.17 0.16
SAL-009 130.5 150.8 20.3 0.91 0.18 385013 7112287 -60 60
INCLUDING 131.5 142.5 11 1.1 0.22
SAL-10 146 151.5 5.5 0.9 0.16 385251 7112597 -60 60
SAL-11 ASSAYS PENDING 385338 7112646 -60 60
SAL-12 135.5 148 12.5 0.49 385320 7112707 -60 60
SAL-13 ASSAYS PENDING 385364 7112731 -60 60
SAL-14 93 100.5 7.5 0.34 385446 7112774 -60 60
SAL-15 64.9 69 4.1 0.39 385450 7112735 -60 60
SAL-16 36 42 6 0.97 0.12 385367 7113279 -60 60
48 56 8 1.24 0.16
62 77 15 1.3 0.1
INCLUDING 68 77 9 1.8
93 108 15 0.36
SAL-017 ASSAYS PENDING 385450 7112630 -60 60

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

About Nobel
Nobel Resources has the right to acquire 100% interest in each of the Algarrobo project and the La Salvadora project, both potential Iron Oxide Copper Gold Ore (IOCG) style, high grade copper properties in Chile. The country is a top mining jurisdiction as it is strategically located within 25 km from port and has world-class IOCG deposits within the Major Candelaria belt. Chile's mining capabilities benefit from close to surface, high grade mineralization within the mining face and has the necessary permitting in place.

For further information, please contact:
David Gower
Chief Executive Officer
info@nobel-resources.com
www.nobel-resources.com

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, regarding the prospectivity of each of the Algarrobo project and the La Salvadora project (collectively, the "Projects"), the mineralization of the Projects, the Company's ability to explore and develop the Projects, timing of the Company receiving drill permits; access to drilling equipment; 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 Nobel, 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 Nobel 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. Nobel 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.


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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.

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