Nobel Resources Closes Transaction to Acquire Four Chilean Copper Projects
NOBEL RESOURCES CLOSES TRANSACTION TO ACQUIRE FOUR
CHILEAN COPPER PROJECTS
TORONTO, ONTARIO April 3, 2025 – Nobel Resources Corp. (TSX – V: NBLC) (the “Company” or
“Nobel”) is pleased to announce that it has completed the transaction to acquire four separate
copper projects, namely Cuprita, Janett, Pampa Austral and Anais (collectively, the “Projects”) in
Antofagasta Region, Chile (the “Transaction”). Pursuant to the Transaction, Nobel has acquired
an option to acquire 100% of each of the Projects (the “Options”). Please refer to the Company’s
press release dated January 6, 2025 for further details regarding the Transaction and the Projects.
T
he Cuprita Project is the most advanced Project being acquired pursuant to the Transaction and
is now the Company’s principal asset. The Cuprita Project is located in an area that is accessible
year-round. Cuprita is a highly prospective , copper project with multiple near surface targets
identified during recent rock sampling campaigns.
H
ighlights:
• Cuprita is located in the renowned Chilean Paleocene Porphyry Copper Belt that
hosts several major porphyry copper deposits, such as El Salvador, Cerro Colorado,
Spence, Sierra Gorda, Fortuna, as well as some Au deposits (see figure 1) . The
copper oxide mineralization ( atacamite with lesser brochantite and chrysocolla)
occurs in fracture fillings, within quartz veinlets, filling the matrix of hydrothermal
breccias and within structures of quartz veins. Cuprita is located at a structural
intersection between the primary NNE striking major faults and the secondary NW
striking structures (see figure 2) . This is an important structural context and is
associated with several major deposits in the region. The property has untested
geological and geophysical characteristics that indicate potential for a significant
porphyry copper deposit. High grade copper values (mainly in the veins) were
sampled by the Company during its due diligence review of Cuprita with some
anomalous molybdenite up to 165ppm. (Table 1.)
T
able 1. Due Diligence Rock Chip Samples
SAMPLE NORTH EAST ELEVATION Cu_% Au_(ppm) Ag_(ppm) Mo_(ppm)
57187 7055849 420359 1896 0.2528 0.02 2 9
57188 7055614 420428 1907 1.530 <0.02 24 13
57189 7055264 421555 2059 0.3639 0.02 6 8
57190 STD 1.741 0.47 3 21
57191 7055720 421103 1944 0.244 0.02 2 5
57192 7054549 420286 1952 2.780 0.10 14 165
57193 7053628 420592 1883 0.4457 0.03 3 20
Figure 1. Cuprita Regional Geologic Setting
• Veins up to 30cm wide with abundant copper mineralization have been mapped
and sampled on the Cuprita Project. These veins and clusters of veinlets are
interpreted as the evidence of hydrothermal fluid movement originating from
depth. The geologic characteristics of the Cuprita Project are similar to other
major porphyry deposits emplaced in the Belt. The best potential for near surface
copper oxide mineralization appears related to the hydrothermal breccias . In
multiple locations throughout the project area there is strong fracturing of the
quartz diorite due to the intersection of NW and NNE faults. A moderate to strong
system of quartz+/- copper oxide veinlets is developed in this area following NW
structures. A zone with breccias and veinlets can be followed intermittently at
surface over an area of approximately 700m in a NS direction and 200m to 400m
EW and is located within the diorite intrusive.
• T
here are at least three target zones (figure 2) identified to date marked by
coincidence of geophysical, geochemical and geological evidence supporting the
presence of hydrothermal alteration and mineralization. The review of historical
data and field verification during the Company’s due diligence review, revealed
the presence of three porphyry targets which will be the priority for the initial
exploration at Cuprita. Following is a brief description of each target:
T
arget 1 - NW Magnetic Anomaly
Th
e target is located near the NW corner of the property where an area of approximately 400 m
by 1,000 m is associated with the presence of moderate to strong quartz -tourmaline stockwork
intruding the Punta del Cobre quartz monzonite. Some isolated stringer s of copper oxides are
present in the stockwork along with quartz-tourmaline veinlets
One area of some 200 m wide contains a set of N 60 deg W sheeted quartz-tourmaline veins close
to the center of a prominent magnetic low, also oriented to the NW.
Target 2 - NE Magnetic Anomaly
The second area is located near the NE corner of the property. Old trenches revealed the
existence of extensive copper oxide mineralization associated with a set of NW trending
mineralized veins and tourmaline breccias. The Nobel team believes that it is likely the
emplacement of the vein system was controlled by NW trending faults present on the property
and that have been ide ntified along a structural corridor for several kilometers both north and
south of Cuprita.
As with target 1 described above, a distinctive ground magnetic low of comparable size to target
1, is associated with this area although here the anomaly strikes to the NNE.
The previous owners of the Project carried out a limited IP survey (three lines) over this target.
The IP response shows a low to moderate chargeability anomaly over the mineralized trenches
and the magnetic anomaly. This type of geophysical response is considered typical of low pyrite
porphyries that are present within the district. Limited soil sampling done in 2012 by the previous
owner returned a Cu-Bi-Mo over this target.
Target 3 – Southern Magnetic Anomaly
This target comprises a covered ground magnetic low in the south -central part of the property.
This anomaly is well defined, almost circular and approximately 1.0 km by 1.0 km in size. Very
wide spaced (500 m by 500 m site spacing) soil sampling done during 2012, returned copper
values up to 300 ppm and remains open to the South.
Several old workings mineralized with copper oxide have been identified near the northern edge
of the magnetic anomaly.
Figure 2. Cuprita Targets
The Other Projects Acquired in the Transaction
• Janett and Pampa Austral have abundant copper oxide mineralization at surface
and multiple small scale artisanal operations (past and present). Many of these
small pits reach a depth of 20 to 30 meters and many have underground workings.
Historic results at Pampa Austral have returned 70 m grading 0.7% copper
(including 14m grading 2.1% copper + 0.1 g/t gold). Janett has seen little modern
exploration despite the multiple, past producing mines and anomalous copper
mineralization at surface.
• The Projects are located in a highly developed mining region North of Copiapó
surrounded by many of the major companies in the global copper mining business.
The combined portfolio enjoys road access and moderate elevation making the
Projects accessible for exploration programs 12 months of the year.
Transaction Terms
Pursuant to the closing of the Transaction, Nobel has (i) issued 2.5 million common shares to the
shareholders of Austral Exploraciones SpA (“Austral”); (ii) paid an aggregate amount of
USD$70,000 in cash to the optionors of the Projects; (iii) issued a 2% NSR to the optionors of the
Cuprita Project which 0.5% can be repurchased for USD$2 million; (iv) issued a 2% NSR to the
optionor of the Pampa Austral Project of which 0.5% can be repurchased for USD$820 ,000; (v)
issued a 2% NSR to the optionor of the Janett Project of which 0.5% can be repurchased for
USD$820,000; and (vi) issued a 2% NSR to the optionor of the Anais Project of which 0.5% can
be repurchased for USD$360,000.
To maintain each of the Options in good standing and acquire a 100% interest in each of the
Projects, Nobel must make the following payments:
Cuprita Project
• USD$20,000 cash payment on the 12 -month anniversary of signing the Cuprita o ption
agreement;
• USD$50,000 cash payment on the 24 -month anniversary of signing the Cuprita option
agreement;
• USD$150,000 cash payment on the 36 -month anniversary of signing the Cuprita option
agreement;
• USD$1 million cash payment on the 48 -month anniversary of signing the Cuprita option
agreement; and
• Issuance of 2.5 million Nobel shares to the shareholders of Austral upon Nobel
establishing an NI 43-101 compliant mineral resource estimate on the Cuprita Project.
Pampa Austral Project
• USD$20,000 cash payment on the 12 -month anniversary of signing the Pampa Austral
option agreement;
• USD$50,000 cash payment on the 24 -month anniversary of signing the Pampa Austral
option agreement;
• USD$150,000 cash payment on the 36 -month anniversary of signing the Pampa Austral
option agreement; and
• USD$1 million cash payment on the 48 -month anniversary of signing the Pampa Austral
option agreement.
Janett Project
• USD$20,000 cash payment on the 12 -month anniversary of signing the Janett Option
Agreement;
• USD$50,000 cash payment on the 24 -month anniversary of signing the Janett Option
Agreement;
• USD$150,000 cash payment on the 36 -month anniversary of signing the Janett Option
Agreement; and
• USD$500,000 cash payment on the 48 -month anniversary of signing the Janett Option
Agreement.
Anais Project
• USD$10,000 cash payment on the 12 -month anniversary of signing the Anais option
agreement;
• USD$10,000 cash payment on the 24 -month anniversary of signing the Anais option
agreement;
• USD$10,000 cash payment on the 36 -month anniversary of signing the Anais option
agreement; and
• USD$500,000 cash payment on the 48 -month anniversary of signing the Anais option
agreement.
The Nobel shares issued pursuant to the Transaction are subject to a statutory four month hold
period. The Transaction has been approved by the TSX Venture Exchange and the Company has
filed a NI 43-101 technical report on the Cuprita Project on www.sedarplus.ca under the
Company’s profile and on the Company’s website.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Mr. David Gower, P.Geo., as defined by National Instrument 43 -101 of the Canadian Securities
Administrators.
About Nobel
Nobel Resources is a Canadian resource company focused on identifying and developing
prospective mineral projects. The Company has a team with a strong background of exploration
success.
For further information, please contact:
Lawrence Guy
Chief Executive Officer
+1 647-276-0533
Vincent Chen
Investor Relations
www.nobel-resources.com
Cautionary Note Regarding Forward-looking Information
Nobel has not verified the historical results contained in this press release and is not relying on
them as current mineral resources or mineral reserves. Readers are cautioned that there has
been insufficient exploration by the Company or its qualified person at each of the Projects to
define a mineral resource or mineral reserve; and it is uncertain whether further exploration will
result in these targets being delineated as a mineral resource or mineral reserve.
This press release cont ains “forward-l ooking informa tion” within t he meaning of applicable
Canadian securities legislation. Forward-l ooking information includes, without limitation, the
Transaction, the mineralization and prospectivit y of the Projects, the Company’s ability to
explore and develop the properties, the Company’s ability to obtain adequat e fina ncing and
the Company’s future plans. Genera lly, forward-l ooking information can be identified by the
use of forward-l ooking terminology such as “plans”, “expects” or “does not expect”,
“is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”
or “does not anticipate”, or “believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”
or “be achieved”. Forward- looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actua l results, level of activity,
performance or achievements of Nobel, as the case may be, to be materially different from
those expressed or implied by such forwa rd-looking information, including but not limit ed
to: general business, economic, competitive, geopolitical and social uncertainties; the actual
results of current explora tion activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased properties; foreign operations
risks; and other risks inherent in the mining industry. Although Nobel has attempted to
identify important factors that could cause actual results to differ materially from