Noble Mineral optionee exercises Mann option

Apr 22, 2024

2024-04-22 11:11 ET – News Release

Mr. Vance White reports

NOBLE ANNOUNCES CANADA NICKEL EXERCISING ITS OPTION ON NOBLE’S MANN TOWNSHIP PROPERTY

Noble Mineral Exploration Inc. optionee Canada Nickel Company Inc. is exercising its option to acquire an 80-per-cent interest in the Mann nickel property from Noble in the Timmins area of Northern Ontario.

The option terms included:

Exploration expenditures of $1.7-million on the property (completed);
Cash payment to Noble of $350,000 (made);
Annual cash payments to Noble of $100,000 (payments are current);
Underlying net smelter return rights to previous claim optionors and to Noble (to be registered).

See Noble’s news releases of Feb. 24, 2022, for a more in-depth review of the option terms.

Vance White, president and chief executive officer of Noble, commenting on the exercise of the option, said: “We are very pleased for Canada Nickel to be earning the 80-per-cent interest in the Mann project, and also pleased with the exploration results encountered to date. We very much look forward to seeing how the project is to be advanced.”

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company, Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont., will continue to hold approximately 25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20-per-cent interest in approximately 11,000 hectares in the Timmins area and approximately 175 hectares of mining claims in central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its approximately 14,600 hectares in the Nagagami carbonatite complex and its approximately 4,600 hectares in the Boulder project, both near Hearst, Ont., as well as approximately 3,700 hectares in the Buckingham graphite property, approximately 10,152 hectares in the Havre St. Pierre nickel, copper, platinum group metal property, approximately 518 hectares in the Laverlochere nickel, copper, PGM property and approximately 482 hectares in the Cere-Villebon nickel, copper, PGM property, all of which are in the province of Quebec.

We seek Safe Harbor.

https://noblemineralexploration.com/