Noble Mineral, Canada Nickel property agreement

Mar 5, 2025

2025-03-04 16:40 ET – Property Agreement

The TSX Venture Exchange has accepted for filing documentation pertaining to an arm’s-length implementation agreement between Noble Mineral Exploration Inc. and an arm’s-length party, Canada Nickel Company Inc. (CNC), whereby the company and CNC contributed their interests in certain mineral exploration properties in and near Mann township in Ontario into a new company, East Timmins Nickel Ltd. (ETN), to consolidate their interest in bulk-tonnage nickel projects in the area of Timmins, Ont. In addition, the company transferred its Project 81 property to CNC, but retained the right to explore for gold, silver, copper, lead and zinc on the transferred properties for an initial period of five years (which can be renewed thereafter by mutual agreement of the parties).

Pursuant to the agreement, the company contributed its remaining 20-per-cent interest in certain mining properties forming part of the Mann property into ETN in exchange for a 20-per-cent ownership interest in ETN; (ii) transferred certain mining claims directly to CNC; and (iii) transferred its remaining right to purchase, at a predetermined price, 5,000 acres of surface lands over Project 81 and CNC’s Crawford project. CNC in turn, contributed: (i) its 80-per-cent interest in certain mining properties forming part of the Mann property to ETN in exchange for an 80-per-cent ownership interest in ETN; and (ii) transferred certain mining claims to the ETN, among other contributions.

The company retains an up-to-2-per-cent royalty on all staked mining claims it transferred pursuant to the transactions, except to the extent those properties are already bound by other royalties.

For further details, please refer to the company’s news releases dated July 8, 2024, Jan. 7, 2025, and Feb. 24, 2025.

https://noblemineralexploration.com/