Noble Mineral to reduce Project 81 NSR from 5% to 2%

Mar 20, 2019

2019-03-19 10:30 ET – News Release

Mr. Vance White reports

PROJECT 81: NSR ROYALTY TO BE REDUCED FROM 5% TO 2% ON PATENTED MINERAL RIGHTS

Noble Mineral Exploration Inc. has signed a letter of intent that, upon implementation, would result in the net smelter return royalty interest on the approximate 52,000 hectares of patented mineral rights of Project 81 property being reduced from 5 per cent to 2 per cent, but no longer subject to a purchase option. The terms and conditions of the transaction as set out in the letter of intent: (a) include a cash consideration from Noble in two instalments; (b) are currently non-binding on the parties; but the parties are moving to negotiate definitive agreements that are to be signed within 45 days. Completion of the transaction is subject to certain conditions, including the negotiation and signature of definitive agreements, the approval of the board of directors of Noble, compliance with securities laws and compliance with TSX Venture Exchange policies.

Vance White, Noble’s president and chief executive officer, commented: “We’re pleased to have reached this understanding in relation to the NSR on Project 81, as we believe the significant reduction of the NSR royalty will attract more option and JV partners to pursue and fund the exploration of our Project 81. We believe our project to be a very underexplored area of lands located immediately north of the Kidd Creek mine, which has produced in excess of 160 mm tons of high-grade base metals. We believe that major VMS mega deposits, such as the Kidd, occur in clusters as satellite deposits and Project 81 could potentially host these satellite deposits. Additionally, we have a number of very large nickel plus cobalt plus/minus Pt plus/minus Pd deposits, together with a gold deposit and a number of drill-indicated gold showings. Such is the search in which Noble and its partners are engaged, and, with a reduced NSR, Project 81 will be more attractive to option and JV partners to join us We have completed an exhaustive data compilation on the project and have identified multiple drill-ready targets with prior indications of mineralization.”

Randy S.C. Singh, PGeo (Ontario), PEng (Ontario), vice-president of exploration and project development of Noble, and a qualified person as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the company.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company that, in addition to its shareholdings in Spruce Ridge Resources and MacDonald Mines Exploration Ltd. as well as 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