Noble Mineral to acquire 695 Ontario claims

Apr 6, 2022

2022-04-06 11:33 ET – News Release

Mr. Vance White reports

NOBLE COMPLETES ACQUISITION OF NAGAGAMI CLAIMS NEAR HEARST, ONTARIO

Noble Mineral Exploration Inc. has entered into an agreement with six parties to acquire approximately 695 mining claims near Hearst, Ont., covering an area of approximately 144 square kilometres.

The transaction will provide Noble with control over a contiguous area of approximately 14 kilometres by approximately 12.5 kilometres.

Transaction terms

Pursuant to the transaction, Noble will acquire the claims through the issuance of 500,000 common shares of Noble which will be subject to a four-month hold period.

Under the transaction, the Vendors will retain a 2-per-cent net smelter return royalty, with Noble having the right to buy back 50 per cent of the royalty for $1-million. The transaction is subject to approval of the company’s board of directors and the TSX Venture Exchange.

Highlights of the Nagagami property (see Noble press release dated Dec. 16, 2021)

The exploration model for the Nagagami Carbonatite/Alkalic complex is based on a Niobec-style of mineralization (Quebec), where niobium has been produced since 1976, and there is also a rare earth element resource. In December, 2013, Niobec reported a mineral resource estimate as shown in the attached table.

The Nagagami project falls within the Ontario government critical minerals directive issued this year, which prioritizes finding local sources of strategic materials.
Around the world, governments are implementing policies that are accelerating innovative technology that rely heavily on critical and strategic minerals as raw materials for electric vehicles, clean energy and information communications technology.
The Nagagami complex has had minimal exploration including a limited amount of drilling by Algoma in the 1960s in search of iron deposits.
Noble has initiated talks with the council of the Constance Lake First Nation on how best to proceed with this project.
Significance of niobium and rare earth elements

According to a European commission report (2020), rare earth elements (LREEs: light rare earth elements; HREEs: heavy rare earth elements) have the greatest supply risk of raw materials for key technologies. Niobium ranks No. 4. Noble Minerals is exploring for these commodities in a safe and mining-friendly jurisdiction.

Niobium

Niobium is an extraordinary and highly versatile superalloy material, and is a critical and strategic material essential to many defence and civilian applications. For example, as an alloying element in high-strength and stainless steel, as a superalloy for aerospace and land-based power generation, and in superconductors.

For instance, 200 grams of niobium added to the steel of a mid-sized automobile reduces its weight by 100 kilograms, increasing fuel efficiency by 5 per cent. The use of niobium in vehicles today is already helping to avoid the emission of an estimated 62 million tons of CO2 per year, according to Niobec (North America’s only niobium producer).

North America sources all of its niobium from Brazil (approximately 83 per cent), Canada (approximately 12 per cent) and others (approximately 5 per cent). With only three primary niobium mines globally, all of which have Chinese stakeholders, a more reliable, long-term niobium supply in North America is needed to secure critical minerals supply chains for strategic industries.

Rare earths elements

According to the European Commission (2020), rare earth elements (LREE and HREE) are highlighted as having the greatest supply risk of raw materials for key technologies. A total of 97 per cent of the world’s rare earth elements are controlled by China.

There are approximately 20 to 25 pounds of rare earths in each electronic vehicle produced.

Rare earth elements are essential for transitioning to green energy. Their importance is not limited to applications in cars, but also in solar panels, windmills, solar photovoltaic, computers, electronics, the smart grid and more. This highlights the need for a secure, domestic supply.

Vance White, president and chief executive officer of Noble, said: “we are pleased to do our part in the exploration of a domestic source of niobium and rare earth elements. We have started negotiations with the council of the Constance Lake First Nation to explore ways that they can participate in this important project.”

Michael Newbury, PEng (ON), a qualified person as such term is defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.

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 Inc., Spruce Ridge Resources Ltd. 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 40,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional approximately 11,000 hectares in the Timmins area and approximately 14,000 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 also holds its recently acquired approximately 14,000-hectare Nagagami carbonatite complex near Hearst, Ont., as well as the Buckingham graphite property, the Laverlochere nickel, copper, PGNM property and the Cere-Villebon nickel, copper, platinum group metals property, all of which are in the province of Quebec.

We seek Safe Harbor.

https://noblemineralexploration.com/