Noble Mineral completes Project 81 royalty reduction

Dec 19, 2019

2019-12-19 09:47 ET – News Release

Mr. Vance White reports

NOBLE COMPLETES ROYALTY REDUCTION AGREEMENTS

Noble Mineral Exploration Inc. has completed the acquisition of the 5-per-cent net smelter return royalty applicable to approximately 55,000 hectares of patented mineral rights on its Project 81 in the Timmins-Cochrane area of Northern Ontario. As a result of doing so, those patented properties are now only subject to a 2% royalty. (See Noble’s news releases of October 24, 2019 and November 28, 2019 for more information.) Approximately 24,000 additional hectares of the Company’s Project 81 are not subject to any royalty.

As previously announced, Noble entered into a royalty assignment agreement for the purchase of the current 5% royalty that applies to parts of Project 81. (See Noble’s news release of October 24, 2019.) Noble also entered into agreements requiring that, after having purchased the 5% royalty, Noble will terminate that royalty with respect to Noble’s properties, leaving in place a newly-granted 2% royalty applicable to the same properties as the 5% royalty.

Vance White, Noble’s President and CEO commented: “We’re very pleased to have been able to complete this transaction. We believe that reducing the royalty on a 55,000 hectare portion of Project 81 from 5% to 2% will open up the opportunity of bringing in additional option and joint venture partners for the exploration and development of Project 81, consistent with our project generator business model.”

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company which, in addition to its shareholdings in in Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 78,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration.

We seek Safe Harbor.

http://www.noblemineralexploration.com