Exploration Update Noble Closes Acquisition of 50% Interest in Claims in Carnegie, Kidd, Wark and Prosser Townships near Timmins, Ontario
TSX.V: NOB FWB: NB7 OTCQB: NLPXF
Exploration Update
Noble Closes Acquisition of 50% Interest in Claims in Carnegie, Kidd,
Wark and Prosser Townships near Timmins, Ontario
Toronto, Ontario – October 5 , 2021 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTCQB.PK:NLPXF) is pleased to announce that it
is in the process of closing a Purchase and Sale Agreement in a 50/50 partnership with 11530313
Canada Inc (“11530313”) to acquire 317 patented and tenure identified mining claims (the “Claims”)
in Carnegie, Kidd, Wark and Prosser Townships totaling about 6,600 hectares formerly held by Explor
Resources, a wholly owned subsidiary of Galleon Gold Corp. (“Galleon”)..
Pursuant to the terms of the Agreement, 11530313 has paid $250,000 to Galleon, and Noble is issuing
to Galleon 2,000,000 common shares of Noble (the “Noble Shares”). At closing, Noble and 11530313
will each have a 50% ownership of the Claims. The transaction has received final approval from the
TSX Venture Exchange and approval of the Board of Directors of Noble. The Noble Shares will be
subject to a four month hold period under applicable Canadian securities laws.
The Claims cover volcanic rocks of the Kidd Munro assemblage that have been periodically intruded
by Nickel Copper (“Ni-Cu”) bearing mafic to ultramafic intrusions. This assemblage hosts one of the
world’s largest volcanogenic massive sulphide (“VMS”) deposit at Kidd Creek approximately 3 km to
the south and Ni-Cu deposits such as Enid Creek in Loveland Twp., and the Crawford Nickel-Cobalt-
Palladium deposit in Crawford Twp. The Kidd Creek Mine has produced in excess of 150 million
tonnes of copper and zinc ore since 1966. The area is thus highly prospective for both Ni -Cu and
VMS deposits. Like other prospects in the Timmins region, the area is covered by thick glacial till and
conductive clays (up to 50 m) that hampered earlier exploration efforts.
Vance White, CEO and Pr esident of Noble commented. “We are very pleased to partner with
11530313 in order to be able to acquire an interest in the Explor lands in Carnegie and Kidd Townships
to further consolidate our Project 81 holdings. The proximity of the ground to the proli fic Kidd Creek
Mine will make it a valuable asset in the extensive stable of Noble properties in the Timmins area. A
thorough review of historic and recent work carried out on these patented and regular claims is taking
place to be followed up by additional exploration work. Further, we welcome Galleon as a significant
Noble shareholder.”
Michael Newbury PEng (ON), 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 Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. 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, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins -Cochrane
areas of Northern Ontario known as Project 81 as well as an additional ~11,000 hectares in the
Timmins area. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration
targets at various stages of exploration. It also ow ns the Buckingham Graphite Property, the
Laverlochere Nickel, Copper, PGM property and the Cere- Villebon Nickel, Copper Pgm property all
oof which are in the province of Quebec. More detailed information is available on the website at
www.noblemineralexploration.com .
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.
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 t o 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, fu ture
events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: [email protected]
Investor Relations
Email: [email protected]