(TheNewswire)
TORONTO, February 24, 2025 TheNewswire – Noble Mineral Exploration Inc. (‘ Noble ‘ or the ‘ Company ‘) (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has closed the transactions under the Implementation Agreement (‘ Agreement ‘) with Canada Nickel Company Inc. (‘ Canada Nickel ‘) that were previously announced in the news releases of the Company dated July 8, 2024 and January 7, 2025.
Noble has received final acceptance from the TSX Venture Exchange for the transactions under the Agreement. However, the closing of the transactions remains subject to Canada Nickel obtaining final acceptance from the TSX Venture Exchange.
Among other things accomplished in the transactions, Noble and Canada Nickel have spun out certain mining claims in and around Mann Township, Ontario into East Timmins Nickel Ltd. (‘ ETN ‘), a newly incorporated subsidiary of Canada Nickel, to consolidate their interests in bulk tonnage nickel projects northeast of Timmins, Ontario. Noble owns a 20% interest in ETN, with Canada Nickel owning the balance. Certain of the exploration results were released by CNC on the Mann properties (for details, please see Canada Nickel’s news release dated December 11, 2024). In addition to the consolidation of properties in ETN, as part of the transactions, Noble transferred its Project 81 interests to Canada Nickel, retaining the right to explore for gold, silver, copper, lead and zinc. Noble retains an up to 2% royalty on all properties it transferred pursuant to the transactions, except to the extent those properties are already bound by other royalties. Canada Nickel likewise retained a 2% royalty in the properties it transferred to ETN, except to the extent those properties were likewise already bound by other royalties. Furthermore, Noble transferred to Canada Nickel the option it previously held to acquire approximately 5,000 acres of surface lands in the Project 81 at pre-determined prices.
As stated previously and commenting on the transaction, Vance White, CEO of Noble said, ‘We felt that consolidating the eastern properties into a separate exploration company would maximize the value of the Mann Township properties without incurring significant upfront dilution to Noble, and at the same time gain exposure to additional identified nickel sulphide targets in the Timmins camp in which Noble currently has no interest. ETN will control ~1,814 mining claims totaling over ~38,729 hectares and will include Reaume, Mann and Newmarket Townships as well as McCool, Moody, Galna and other properties currently held by Canada Nickel. Noble will vend its interest in Project 81, together with the right to acquire surface rights over Project 81. For properties transferred from Noble to Canada Nickel, Noble will retain a 5-year exploration right to any non-nickel exploration target therein. This 5-year exploration right will be subject to an annual exploration right thereafter upon both parties’ consent. Noble intends to use its best efforts so that upon ETN going public, a portion of Noble’s holdings in ETN will be distributed to Noble shareholders in order that they may have a direct benefit as ETN advances all underlying properties to the development stage, although that is a future event and we cannot provide any assurances that this will be done We anticipate that resource estimates will be available on at least two of the projects in Q2 2025′.
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About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel, and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~2,215 hectares in Thomas Twp in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. It will also hold its ~4,845 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec, ~569 hectares in the Chateau (Uranium, Rare Earths, Phosphorus, Silver) Property in Kitivik, northern Quebec, and the ~461 hectare Taser Uranium-Molybdenum property in northern Quebec. 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 .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel’s common shares trade on the TSX Venture Exchange under the symbol ‘CNC.’
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
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: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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