Noble Mineral to acquire 5% NSR on Project 81

Oct 25, 2019

2019-10-24 08:50 ET – News Release

Mr. H. Vance White reports

NOBLE AGREES TO ACQUIRE 5% NSR

Further to its news release of March 19, 2019, Noble Mineral Exploration Inc. has entered into a royalty assignment agreement (RAA) with the royalty holder that, upon implementation, would result in Noble (or a subsidiary of Noble) acquiring the 5-per-cent net smelter return royalty interest (NSR) that applies to the patented properties that are located within Noble’s Project 81. Project 81 encompasses an area of approximately 79,000 hectares. The patented properties within Project 81 account for approximately 55,000 hectares, with the balance of the area (or approximately 24,000 hectares) being made up of mining claims.

The terms and conditions of the NSR purchase under the RAA are as follows:

Noble must pay $50,000 as a deposit upon entering into the RAA (paid);
Noble must pay $950,000 as an additional deposit within five business days after the satisfaction of certain conditions, including the TSX Venture Exchange having approved the transactions under the RAA;
Noble must pay $1-million by the closing.

As an additional condition to the completion of the NSR purchase, the RAA provides that the proposed NSR purchase would only be completed if a right of first refusal that relates to the purchase is not exercised.

Vance White, Noble’s president and chief executive officer, commented: “We’re very pleased to be moving ahead with this transaction. It has been under discussion for some time, and I am pleased to report that is now moving ahead. We will continue to work on securing arrangements that would ensure that Noble can complete this purchase, as previously announced by Noble on March 19, 2019.”

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, Ont., holds in excess of 79,000 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