NLPXF - Noble Completes Acquisition of Additional Areas in MacDiarmid and Jamieson Townships
(TheNewswire)
Toronto, Ontario – TheNewswire - February 12, 2021 – Noble MineralExploration Inc. ( “Noble” or the“Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) is pleased toannounce that it has completed its previously announced acquisition of39 mining claims (the “ Claims ”) in MacDiarmid and LovelandTownships from International Explorers& Prospectors Inc(“ IEP ”). (See Noble’s news releases of January 19, 2021 andFebruary 2, 2021 for details of the transaction.) The transactionhas been approved by the TSX Venture Exchange.
While historic exploration data is available from theOntario Government, much of it online, IEP has access to unpublishedexploration data that will be of great value in exploring MacDiarmidand Loveland Townships. A Mineral Exploration Research Center-industryconsortium project is currently acquiring high resolution audiomagneto-telluric (AMT) data within parts of this area to betterunderstand the 3D distribution of sulfide-bearing units.
Terms of the transaction are as follows:
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- payment of $25,000 cash by Noble;
- issuance of 250,000 common shares of Noble;
- transfer of 100,000 common shares of CNC fromNoble’s holdings; and
- the transfer of $500,000 of assessment credits to IEPat the request of IEP at any time up to December 31, 2021.
All 39 mining claims to be acquired are subject to a0.25% net smelter returns royalty (the “ First Nations Royalty ”), and 4 of the mining claims to be acquired are alsosubject to a 2.0% net smelter returns royalty held by other parties(the “ ExistingRoyalty ”). Both the First Nations Royaltyand the Existing Royalty will continue to apply. For the 35 miningclaims that are not subject to the Exiting Royalty, a 1.75% netsmelter returns royalty will be granted to IEP (the “ IEP Royalty ”). Noble will have a purchase right applicable to the Existing Royaltyand 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 total2.0%) and 0.875% of the IEP Royalty (out of the total 1.75%).
About Noble Mineral ExplorationInc.:
Noble Mineral Exploration Inc. is a Canadian-basedjunior exploration company which, in addition to its shareholdings inCanada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonaldMines Exploration Ltd., and its interest in the Holdsworth goldexploration property in the area of Wawa, Ontario, holds approximately72,000 hectares of mineral rights in the Timmins-Cochrane areas ofNorthern Ontario known as Project 81. Project 81 hosts diversifieddrill-ready gold, nickel-cobalt and base metal exploration targets atvarious stages of exploration. More detailed information is availableon the website at www.noblemineralexploration.com .
Noble’s common shares trade on the TSX VentureExchange under the symbol “NOB”.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. No stock exchange,securities commission or other regulatory authority has approved ordisapproved the information contained herein.
The foregoing information may contain forward-lookingstatements relating to the future performance of Noble MineralExploration Inc. Forward-looking statements, specifically thoseconcerning future performance, are subject to certain risks and uncertainties, andactual results may differ materially from the Company’s plans andexpectations. These plans, expectations, risks and uncertainties aredetailed herein and from time to time in thefilings made by the Company with the TSX Venture Exchange andsecurities regulators. Noble Mineral Exploration Inc. does notassume any obligation to update or revise its forward-lookingstatements, whether as a result of new information, future events orotherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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