NLPXF - Noble Options its Properties in Mann Hanna Duff and Reaume Twps and Sells its Patents in Kingsmill and Mabee Twps to Canada Nickel
(TheNewswire)
Toronto, Ontario - TheNewswire - November 22, 2021 - Noble MineralExploration Inc. ( “Noble” or the“Company” ) (TSXV:NOB )( FRANKFURT:NB7 )( OTC:NLPXF) is pleased to announce that it hasentered int a Letter of Intent with Canada Nickel Company(“ CNC ”) to option its mining claims (the “Claims ” ) in Mann, Hanna,Duff, and Reaume Townships, and to sell its MROPatents (the “Patents”) in Kingsmill and Mabee Townships .
Deal Terms
The terms of the Option to earn into the mining claimsin Mann, Hanna, Duff, and Reaume Townships over four years will bepayments of $400,000, delivery of 400,000 shares of Canada Nickel, andcompletion of $1,700,000 of exploration work, after which theproperties would be held in an 80/20 Joint Venture between CanadaNickel and Noble. Noble will also retain a 2% NSR on the staked claimsthat are included in the Claims, and retain a buyback right on thethird-party NSR that applies to the other optioned Claims both ofwhich are subject to certain buyback rights as to 50%.
The terms of the sale of the MRO patents in Kingsmilland Mabee Townships will be the issuance of 500,000 shares of CanadaNickel to Noble.
The transactions are subject to definitive agreementsbeing prepared and agreed to, to the approval by the Board ofDirectors of each party, to approval by the TSX Venture Exchange andto compliance with securities and other laws and regulations. Theapproval of Noble’s shareholders may also be required.
Vance White, President and CEO of Noble, said “we areextremely pleased to be able to invite Canada Nickel, with theirexpertise, to secure this very large land package as it represents a20km strike length where evidence of nickel, cobalt, PGM’s, rhodiumand rare earth minerals have been found to be present in work carriedout by past explorers. We look forward to Canada Nickel moving theoptioned properties to a JV stage ,and to seeing Canada Nickel advancethe exploration of the Kingsmill and Mabee Township properties. Abudget and plan of exploration will be developed by Canada Nickel. Iam confident this will turn out to be a very exciting project.”
Michael Newbury PEng (ON), a "qualifiedperson" as such term is defined by National Instrument 43-101,has reviewed the data disclosed in this news release, and hasotherwise reviewed and approved the technical information in this newsrelease 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. and MacDonaldMines Exploration Ltd., and its interest in the Holdsworth goldexploration property near Wawa, Ontario, holds approximately 72,000hectares of mineral rights in the Timmins-Cochrane areas of NorthernOntario known as Project 81. Project 81 hosts diversified drill-readygold, nickel-cobalt and base metal exploration targets at variousstages of exploration. More detailed information is available on thewebsite 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 orother regulatory 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 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 Email: info@noblemineralexploration.com
Phone: 416-214-2250 Investor Relations
Fax: 416-367-1954 Email: ir@noblemineralexploration.com
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