Noble Agrees to Additional Property Transactions with Canada Nickel Company Inc.
2500 – 120 Adelaide St. West, Toronto, OntarioM5H 1T1
Phone: 416-214-2250
Fax: 416-367-1954
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Agrees to Additional Property Transactions with Canada Nickel Company Inc.
TORONTO, March 4, 2020 - Noble Mineral Exploration Inc. (TSX-V: NOB) ("Noble" or the "Company")
announces that it has signed a Memorandum of Agreement (the “MoA”) with Canada Nickel Company
Inc. (TSX-V: CNC) (“Canada Nickel”) with respect to additional nickel-prospective areas within Noble’s
Project 81, including entering into option agreements on 5 other targets near the Canada Nickel
Crawford Nickel-Cobalt Sulphide Project (“Crawford”) near Timmins, Ontario.
The Crawford Nickel -Cobalt Sulphide Project is located in the heart of the prolific Timmins -Cochrane
mining camp in Ontario, Canada, and is adjacent to well -established, major infrastructure associated
with over 100 years of regional mining activity. An initial resource for the project was recently published
(see Noble news release March 2, 2020).
Transaction Summary:
Canada Nickel has agreed to pay to Noble $500,000 in cash and issue 500,000 Canada Nickel common
shares to acquire the Crawford Annex property and acquire options to earn up to an 80% interest in 5
additional nickel targets within the Project 81 land package. The Crawford Annex comprises 4,909
hectares in Crawford and Lucas townships, and the 5 option areas (Crawford- Nesbitt-Aubin, Nesbitt
North, Aubin-Mahaffy, Kingsmill-Aubin, and MacDiarmid) (“Option Properties”) range in size of 903 to
5,543 hectares. See Figure 1 for a map of property locations.
Canada Nickel can earn up to an 80% interest in each of the Option Properties on the following terms
and conditions.
1) Canada Nickel can initially earn a 60% interest in each of the Option Properties within 2 years
by:
- funding at least $500,000 of exploration and development expenditures on each option
property;
- paying all property maintenance costs for each option property, including all applicable mining
land taxes; and
- making a payment to Noble of an additional $250,000 in cash or, at Noble’s election, Canada
Nickel common shares.
2) Canada Nickel has the right to then increase its interest to 80% in each of the Option Properties
within 3 years by funding an additional $1,000,000 of exploration and devel opment
expenditures on each Option Property (for a total of $1,500,000 per option property).
If the conditions to earn a 60% interest or 80% interest have been satisfied, a joint venture would be
formed on that basis and a 2% net smelter return royalty would be granted to Noble on the portion of
the property which are mining claims and are not cur rently subject to any royalty. (The overall result
would be a total of 2% royalty on each Option Property.)
2500 – 120 Adelaide St. West, Toronto, OntarioM5H 1T1
Phone: 416-214-2250
Fax: 416-367-1954
Figure 1 – Location of Option Properties
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Vance White, President and CEO of Noble, commented “This transaction continues our project
generator strategy to unlock the potential of our Project 81 holdings , which we believe have potential
for gold, VMS, and nickel deposits , through joint ventures and other transactions. Given Canada
Nickel’s success to date and their nickel industry expertise, we are very happy to partner with that team
on these additional properties , and the additional equity that we’d receive on this transaction would
allow our shareholders to potentially realize additional value on these properties as they are explored.
If Canada Nickel were to fully exercise all its rights and options it could mean additional cash and/or
shares to the Noble treasury of up to $2.0 milion and additional exploration expenditures over the term
of the options.”
Mark Selby, Chair and CEO of Canada Nickel commented “Given our demonstrated success at
Crawford, this transaction provides us the larger footprint to fully develop Crawford, along with additional
exploration targets which can potentially host nickel-cobalt deposits that are similar to Crawford.”
2500 – 120 Adelaide St. West, Toronto, OntarioM5H 1T1
Phone: 416-214-2250
Fax: 416-367-1954
The transaction is subject to certain specific conditions, including prior approval of the TSX Venture
Exchange and third party approvals.
Contacts (Noble):
H. Vance White, President
Phone: 416-214-2250 Fax: 416-367-1954
Email: [email protected]
Investor Relations Email: [email protected]
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, Spruce Ridge Resources and MacDonald Mines Exploration , and its
interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of
78,000 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”.
Forward-Looking Information
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.
The foregoing information may contain forward- looking statements relating to the future performance
of Nobl e 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. The Company does not assume any obligation to update or revise its forward-
looking statements, whether as a result of new information, future events or otherwise.