Noble Announces Resignation of Walter Brooks
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Announces Resignation of Walter Brooks
Toronto, Ontario – October 26, 2012, Noble Mineral Exploration Inc. (the "Company", “Noble” or “NOB”) (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces that Walter Brooks has resigned from his roles as a director and Vice President of the Company. Having served on the Company’s board since 2003, Mr. Brooks has advised that he is seeking to reduce his full-time commitments.
Commenting on Mr. Brooks’ resignation, President Vance White stated “We thank Walter for his immeasurable contributions to the organization and management of Noble over the years. We wish him well with his future endeavours. Given Walter’s history with Noble and his knowledge of the industry, we are pleased he has agreed to remain available as a consultant to the Company.”
About Project 81:
Independent valuations of the Company’s holdings indicate a real estate valuation of the freehold lands of Project 81 to be in the order of $20-25 million, a discounted present value of timber resources on Project 81 to be in the order of $18.5 million, and a preliminary discounted net present value of potential carbon sequestration on Project 81 lands to be in the order $24.4 million to $72.5 million using carbon prices of $8.60 and $14 per tonne respectively.
Project 81, the Company’s flagship project, is a 72,218 hectare patented and staked land package divided into 2 blocks. The patents include surface, mineral and timber rights, and host a significant timber resource plus a number of zones that have historical exploration identifying nickel and gold mineralization (these sample results are historical and non 43-101 compliant).
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 72,000 hectares of property in the Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at www.noblemineralexploration.com
Cautionary Statement:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Noble Mineral Exploration Inc.
H. Vance White, President Phone: 416-214-2250 Fax: 416-367-1954 eMail: [email protected]
Investor Relations Phone: 416-214-2250 eMail: [email protected]