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Toronto, Ontario September 17, 2026 TheNewswire - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that it has entered into a Purchase Agreement to acquire the Lucas Gold Project from Canada Nickel Company Inc. ("CNC"). Noble has previously announced the entering into a letter of intent with CNC in its news release issued on July 13, 2026.
Transaction Structure
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Noble will issue 5,000,000 units in the capital of Noble (the Units"), with the Units being valued at $0.06 per Unit. Each Unit will consist of one Common Share and one half non-transferable Common Share Purchase Warrant. One Common Share Purchase Warrant will be exercisable allows at $0.15 per share for a period of two (2) years;
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CNC will be granted the right (the Back-in Right") to purchase from Noble a 25% interest in the Property, at any time beginning on the Trigger Date (as defined below), by making a payment to Noble equal to four (4) times the expenditures incurred by Noble for the exploration and maintenance of the Property (including any costs of geological, scientific and other analyses and reports) ("Exploration Expenditures"). The "Trigger Date" will be the date that is the earlier of: (1) 36 months from the closing of the transaction; (2) the date when at least $5 Million of Exploration Expenditures have been incurred on or with respect to the Property (including any adjacent properties); and (3) the date when Noble enters into a binding agreement for the sale of the Property, or the date when a change of control occurs with respect to Noble unless the Back-in Right is not affected by such transaction.
The transactions under the Purchase Agreement remain subject to compliance with legal requirements and any requirements of the TSX Venture Exchange. As such, Noble and CNC will announce further details as work on the transaction proceeds.
Vance White, President and CEO of Noble, said:" We are very pleased to be proceeding with the repurchase of an excellent gold prospect on which we know from past work carried out by Noble of an existing gold zone but also a number of untested parallel zones. We believe this to be a very valuable asset to Noble in a space we expect improving forecasted gold price in these uncertain geopolitical times."
About the Lucas Gold Project
The Lucas Township Gold Project is a drill-ready project located approximately 30 km north of Timmins, Ontario, world famous for >75 million ounces of gold production. It is also located 20 km northeast of the world class Kidd Creek Mine celebrating its 58th year of continuous production consisting of >150 million tonnes of ore. In addition, it is also located about 20 km east of the Crawford Nickel Resource currently being developed by CNC.
Full industry services, supplies and infrastructure are in place in Timmins with access via paved Highway 655. There is ample access to power and water. Noble also has a MoU signed with local First Nations.
In 2018, Noble completed 15 NQ size diamond drill holes totaling 3,184 meters covering approximately 650m strike length of the 1700m Gold Mineralized structure/trend identified from 2012 and 2018 Airborne Electromagnetic and Differential Magnetic Surveys. Noble located 37 historical drill-hole collars in the field and twinned 3 (three) of these historical drill holes. No further work has been done since 2018.
The Lucas Gold Project has 6 discrete IP anomalous trends which require follow-up exploration. Only one trend has been investigated by Diamond Drilling to date. Gold mineralization in the Lucas Gold Deposit is interpreted to be structurally controlled and occur as discrete lenses stacked within the pyrite plus gold mineralized tuffaceous unit.
As mentioned previously the Lucas Gold Project is drill ready with a First Nation MoU in place. Future work would include drilling on the initial IP Anomaly to further define the gold mineralization. In addition, testing the other 5, undrilled, IP anomalies to test for gold mineralization similar to the initial IP Anomaly.
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Table 1: Gold intersections in a Noble, 2018 Diamond Drill Program (true width not known at this time).
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Figure 1: Mining Claims involved in transaction.
Qualified Persons and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of CNC and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~67,000ha in Northern Ontario and ~12,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs.
Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,231 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area, ~317 hectares in the Holdsworth gold property near Wawa, Northern Ontario, ~4,619 hectares in the Nagagami Carbonatite Complex and ~210 hectares in the Boulder Project both near Hearst, Ontario. In Quebec, Noble holds ~721 hectares in the Buckingham Graphite Property, ~325 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), ~4,473 hectares REE Mehmet Property; the ~3,300 hectare Gull Lake REE Property; and the ~1,232 hectare Opawica Scandium and REE Property all of which are in the province of Quebec. In Newfoundland and Labrador, it holds the~ 647-hectare Chapiteau REE property.
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB." More detailed information on Noble is available on the website at www.noblemineralexploration.com.
Cautionary Note and Statement Concerning Forward Looking Statements
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.
Contacts: H. Vance White, President
Phone: 416-214-2250 Fax: 416-367-1954Email: info@noblemineralexploration.com
Copyright (c) 2026 TheNewswire - All rights reserved.
