Noble agrees to acquire 5% NSR
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
PROJECT 81
Noble agrees to acquire 5% NSR
Toronto, Ontario – October 24, 2019 – Noble Mineral Exploration Inc. ( “Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that
further to its news release of March 19, 2019, it has now entered into a R oyalty Assignment
Agreement (the “RAA”) with the royalty holder that, upon implementation, would result in Noble
(or a subsidiary of Noble) acquiring the 5% net smelter return royalty interest (the “NSR”) that
applies to the patented properties that are located within Noble’s Project 81. Project 81
encompasses an area of approximately 79,000 ha. The patented properties within Project 81
account for approximately 55,000ha, with the balance of the area (or approximately 24 ,000ha)
being made up of mining claims.
The terms and conditions of the NSR purchase under the RAA are as follows:
(a) Noble must pay $50,000 as a deposit upon entering into the RAA (the “First
Deposit”)(paid);
(b) Noble must pay $950,000 as an additional deposit within five (5) business days
after the satisfaction of certain conditions, including the TSX Venture Exchange
having approved the transactions under the RAA (the “Second Deposit”); and
(c) Noble must pay $1,000, 000 (the “Balance of the Assignment Price”) by the
closing.
As an additional condition to the completion of the NSR purchase, the RAA provides that the
proposed NSR purchase would only be completed if a right of first refusal that relates to the
purchase is not exercised.
Vance White, Noble’s President and CEO commented: “We’re very pleased to be moving ahead
with this transaction. It has been under discussion for some time, and I am pleased to report that
is now moving ahead. We will continue to work on securing arrangements that would ensure that
Noble can complete this purchase, as previously announced by Noble on March 19, 2019.”
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition
to its shareholdings in Spruce Ridge Resources Ltd. and in MacDonald Mines Exploration Ltd.
and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, 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. 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, speci fically 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:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: [email protected]
Investor Relations
Email: [email protected]