NOB:CC - Noble Minerals - Corrected Update on Exploration Projects in Ontario and Quebec

(TheNewswire)

This news release corrects andreplaces the news release dated May 17, 2023 issued by Noble MineralExploration Inc.  The introduction to that news release incorrectlystated the palladium sampling results from the drill program on theCere Villebon project.

Toronto, Ontario – TheNewswire - May 17, 2023 – Noble Mineral ExplorationInc. ( “Noble” or the “Company” )(TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) is pleased to report on several active explorationprojects in Ontario and Quebec.

• Cere Villebon Project - Initial sampling from the Cere Villebon drill programindicates 5.2 meters of 0.66% copper, 0.94% nickel, 0.04% cobalt, 0.25g/t platinum and 0.66 g/t palladium within 40 meter wide mineralized zone (true width not knownat this time).  Additional sampling within this zone is pending withanalyses expected by the end of June.

• Nagagami Project - Sampling of the core in hole NG-22-02 has identified a61.0 metre* long mineralized zone on the Nagagami Project in Ontario. The mineralized zone grades 0.554% Total Rare Earth Oxide (TREO) and0.098% Nd 3. Airbornesurvey is planned to help define the size of the mineralizedzone.

• Boulder Project - Electromagnetic targets will be followed up on the ground thisSpring with drill targets to follow on the Boulder Project nearHearst, Ontario.

• Kidd Project -A line-cutting and geophysical program has been completed on the KiddProject.  Drill targets  are being generated in preparation fordrilling in the early summer.

• Buckingham Project - Isabelle Robillard P.Geo. (OGQ) has completed an update tothe 43-101 report on the Buckingham Graphite Project.

• Newfoundland Project - The Newfoundland Project covers the northern extension ofthe Spruce Ridge Property where recent drilling intersected 51.00 metres averaging 1.69 grams of gold pertonne (g/t Au) in hole SP21-01, 15.00 metres of 2.36 g/t Au (including4.00 metres of 5.29 g/t Au) in SP21-03, 21.20 metres of 1.75 g/t Au inSP21-08, 17.60 metres of 1.34 g/t Au in SP21-11 and 21.00 metres of2.06 g/t Au in SP21-14

• Canadian Mining Expo - Wayne Holmstead and Ed van Hees will be presenting at theCanadian Mining Expo in Timmins, Ontario.  Topics will include adiscussion of the Kidd Creek Project, the Boulder Project and theNagagami Project.

( https://virtex.canadianminingexpo.com/)

Cere Villebon Project

A drill program and geophysical surveys has beencompleted on the Cere Villebon Project southeast of Val d’Or,Quebec.  The program included 7 diamond drill holes for a total of1,955 meters.  Significant mineralization was encountered in holes 1and 5.  Analysis results of samples taken have been received for Hole1.

H istoric drilling and resourceestimates done by the Groupe La Fosse Platinum Inc on the North Zone(1987) evaluated a historical resource of 421,840 tonnes grading 0.52%copper, 0.72 % nickel and 1.08 g/t combined platinum-palladium (GroupeLa Fosse Platinum Inc., 1987 Annual Report).

This estimate is historical in nature, non-compliant toNI 43-101 Mineral Resources and Mineral Reserves standards, andtherefore should not be relied upon. A Qualified Person has not donesufficient work to classify the historicalestimate as current mineral resources, and these estimates should onlybe considered has an indication of the mineral potential of theProperty.

Significant mineralized sections from the current drillprogram are included in Table 1.  The intermediate sections notinitially sampled have been sampled and sent for analysis.  PortableXRF readings have indicated similar mineralization from 188 to 228meters downhole.

Table1: Significant Intersections in Hole 1

*Gold Equivalent calculation based on a gold price of$2000/oz, copper $4/lb, nickel $10/lb, cobalt $15/lb, platinum$1000/oz and palladium $1500/oz all in US$

Subsequent to the drilling a 7.2 kilometer program ofInduced Polarization and Magnetometer Survey was done in the vicinityof the diamond drilling.  Figure 1 is a pseudo-section in thevicinity of Hole 1.  The pseudo-section shows a strong chargeabilityanomaly associated with a resistivity low reflecting the sulphidemineralization encountered in the core. (Image 1)

Figure 1: Pseudo-section in the Vicinity of Hole1

Click Image To View Full Size

Image 1: Drillcore from Hole 1, 220.5m depth down hole.

Click Image To View Full Size

Nagagami Project

A 61 metre* long mineralized intercept from HoleNG-22-02 contains an average of 0.554% Total Rare Earth Oxide (TREO)and 0.098% Nd 2 O 3 . The 61 metre*zone includes a 17 metre* long zone that has average TREO andNd 2 O 3 grades of 0.665% and  0.118%,respectively. These grades are 20% higher than those of the 61 metre*intercept.

• 61.0 metre* intercept (between 373 and 434m) contains0.554% Total Rare Earth Oxides and 0.098% Nd

• Above intercept includes 17.0 metres* (between 380 and397m) containing 0.665% TREO and 0.118% Nd

• Two smaller intercepts contain 0.573 % TREO and 0.105%Nd over 4 metres* (between 528 and 532m) and0.605 % TREO and 0.119% Nd over 7 metres(between 538 and 545m).

• A slightly longer mineralized intercept also contains0.24% Ce over 89 metres* (345 to 434m).

The average Dy 2 O 3 ,Nd 2 O 3, Pr 2 O 3 , and Tb 2 O 3 content of the61 metre intercept is equivalent to 3.25 g/t of gold. ( this calculation was done with a goldprice of US$ 2000/ounce)

Additional work being undertaken on the Nagagamiproject include; geophysical surveys to identify the rock units in thecore of the carbonatite complex; studying the area around the propertyto identify a possible location f(or a new road to facilitatemobilizing a diamond drill onto the property via ground rather thanusing a helicopter; meetings in communities near Hearst to shareNoble’s planned exploration program with the public; andlithogeochemical and mineralogical studies to characterize thewallrocks that host the mineralized zone(s) and identify theTREO-bearing minerals .

Total Rare Earth Oxides = Ce 2 O 3 +Dy 2 O 3 +Er 2 O 3 +Eu 2 O 3 +Gd 2 O 3 +Ho 2 O 3 +La 2 O 3 +Lu 2 O 3 +Nd 2 O 3 +Pr 2 O 3 +Sc 2 O 3 +Sm 2 O 3 +Tb 2 O 3 +Tm 2 O 3 +Yb 2 O 3 +Y 2 O 3

*true width not known at this time

For a video on the Nagagami drillproject, please see:

Boulder Project

Noble Minerals has Identified several explorationtargets using the recently completed magnetic and electromagneticairborne survey. (See figure 2 below).

Steps being taken to prepare for exploration on theNoble Minerals’ Boulder Project property include;

• submitting an exploration permit application to MLASfor the planned diamond drilling program;

• multiple targets identified from Airborne Geophysics.(see figure 2 below)

• organizing a prospecting program to explore foroutcrop/boulders that could explain the targets;

• follow up talks with surface rights owners aboveNoble’s mining claims to arrange access for drill rigs to theexploration targets located on or near their properties;

• and meetings in the communities near Hearst to opendialogue on the project.

Click Image To View Full Size

Figure 2: Boulder Location with possible up-ice sourceon magnetic background and EM picks (stars)

B uckingham Graphite Property

The following was adapted from the April 11, 2023report titled, Technical Report on the Buckingham Graphite Project,Buckingham Township, Quebec, Canada by Isabelle Robillard P,Geo,OGQ

The Buckingham Graphite Property of Noble MineralExploration fully deserves further investigation as severalmineralized intersections were drilled over historical conductors. Three zones of interest were identified as follows:

• Zone 1 as the Northeast end of the 1.3 km longconductor in the West Claim Block;

• Zone 2 as the two conductors in the East Claim Blockthat underwent exploration works in the eighties and

• Zone 3 a and b, respectively corresponding to a shortconductor in the NE portion of the East Claim block and the RobidouxGraphite Prospect.

A three phase work program is proposed:

• A first, non-contingent phase of C$526,000 includesadditional drilling and metallurgical testing in Zone 1, along withprospecting works in Zones 2 and 3.

• A contingent second phase totalling 700,000 CAD$ isrecommended and consists of a detailed drilling program in Zone 1 anda ground geophysical survey in Zones 2 and 3, if supported by theresults obtained from Phase 1.

• Phase 1 and Phase 2 programs would total 1,226,000CAD$.Based on the positive results of the detailed drilling program ofPhase 2,

• A third drilling phase of 700,000CAD$ could be addedfor Zone 1, in order to complete a first calculation of the mineralresources.

• This third phase would bring the total to 1,926,000CAD the exploration work on Buckingham Property.

The NI 43 101 Report will be posted on the Company’swebsite within the next 30 days.

Newfoundland Project

The Newfoundland property covers the northernextension of the Spruce Ridge Property where recent drilling intersected 51.00 metres averaging 1.69 grams ofgold per tonne (g/t Au) in hole SP21-01, 15.00 metres of 2.36 g/t Au(including 4.00 metres of 5.29 g/t Au) in SP21-03, 21.20 metres of1.75 g/t Au in SP21-08, 17.60 metres of 1.34 g/t Au in SP21-11 and21.00 metres of 2.06 g/t Au in SP21-14.

14.

Figure 3: Newfoundland new Property in relation toSpruce Ridge Drilling and Property

Michael Newbury P.Eng. (ON), a “qualified person”as such term is defined by National Instrument 43-101, has reviewedthe Ontario data disclosed in this news release, and has otherwisereviewed and approved the technical information in this news releaseon behalf of Noble.

Mitch Lavery (OGQ), a “qualified person” as suchterm is defined by National Instrument 43-101, has reviewed the CereVillebon data disclosed in this news release, and has otherwisereviewed and approved this technical information in this news releaseon behalf of Noble.

Isabelle Robillard (OGQ) a “qualified person” assuch term is defined by National Instrument 43-101, has reviewed theBuckingham Graphite data disclosed in this news release, and hasotherwise reviewed and approved this technical information in thisnews release on behalf of Noble.

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., Go MetalsCorp. and MacDonald Mines Exploration Ltd., and its interest in theHoldsworth gold exploration property in the area of Wawa, Ontario,will continue to hold ~25,000 hectares of mineral rights in theTimmins-Cochrane areas of Northern Ontario known as Project 81, aswell as an additional ~11,000 hectares in the Timmins area and ~14,400hectares of mining claims in Central Newfoundland.  Project 81 hostsdiversified drill-ready gold, nickel-cobalt and base metal explorationtargets at various stages of exploration.  It will also hold its~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600hectares in the Boulder Project both near Hearst, Ontario, as well asits ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property,its ~3,700 hectares in the Buckingham Graphite Property, its ~10,152hectares in the Havre St Pierre  Nickel, Copper, PGM property, its~518 hectares in the Laverlochere Nickel, Copper, PGM property, all ofwhich are in the Province of Quebec.  More detailed information isavailable on the website at: https://www.noblemineralexploration.com

Noble’s common shares trade onthe TSX Venture Exchange under the symbol “NOB”.

Cautionary Statement

Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. No stock exchange, securities commission or otherregulatory authority has approved or disapproved the informationcontained 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 anduncertainties, and actual results may differ materially from theCompany’s plans and expectations. These plans, expectations, risksand uncertainties are detailed 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: ir@noblemineralexploration.com

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