Noble Closes Nickel Property Sale and Receives 3.5 Million Shares of Canada Nickel
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TSX.V: NOB FWB: NB7 OTCQB: NLPXF
Noble Closes Nickel Property Sale and Receives 3.5 Million Shares of
Canada Nickel
Toronto, Ontario – December 20 , 2021 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT:NB7, OTCQB:NLPXF) is pleased to announce that it has
closed the transaction with Canada Nickel Company Inc. (“Canada Nickel”) to vend the properties
previously optioned to the Canada Nickel (the "Transaction") , plus additional propert ies held by
Noble. Under the terms of the Transaction, the previous option and joint venture agreements
therefore terminated. In the Transaction, Noble sold 100% of the subject properties in return for
3.5 million common shares of Canada Nickel . Noble intends to distribute those shares to its
shareholders as a dividend based on a record date to be established post closing, after the 4 month
hold period on those shares has expired. Noble has retained a 2% royalty on certain of the mining
claims that are included in the properties being transferred.
Vance White, President and CEO of Noble said, “ This acquisition effectively consolidates all of the
key nickel targets within Noble’s Project 81 land package with Canada Nickel led by Mark Selby and
his team well recognized to be experts in the Nickel industry. It will allow Noble to focus on the
multiple gold/VMS targets in its remaining substantial land package. The dividend of 3.5 million
shares to Noble’s shareholders (valuation ~$12.25mm) will provide them with a direct interest in not
only the option properties , but also the Main Crawford Nickel deposit on which we expect to see
additional drill hole results and a Feasibility Study in 2022. Noble will retain a 2% NSR (subject to
buyback terms) on each of the staked mining claims in each of Mahaffy, MacDiarmid and Bradburn
Townships from which we expect to see drilling results in early 2022. Further , this transaction will
eliminate the need for Noble carry out any downstream financing in order to maintain a Joint Venture
interest in the prospects.”
Transaction Summary: Under the terms of the Transaction Canada Nickel has issued 3.5 million
of its common shares to Noble in return for:
• A 100% interest in the previously optioned properties (see press releases dated July 13,
2020, April 9, 2021 and April 22, 2021 ) plus additional claims, including the prospective
Bradburn/Dargavel property.
• Noble will retain a 2% net smelter royalty on the claims in Bradburn, Mahaffy and
MacDiarmid townships, subject to the right of Canada Nickel to re-purchase 1% (half) of the
2% royalty held by Noble for a re-purchase price of $1.5 million per property if re-purchased
during the one -year period after closing, increasing to $2.5 million per property if re -
purchased during the second year after closing, and increasing to $5 million per property if
re-purchased more than 2 years after closing.
The transaction has received conditional approval of the TSX Venture Exchange and is now subject
only to final approval.
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, will continue to hold approximately 40,000 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 will also hold its recently acquired Nagaga mi
Carbonatite Complex near Hearst Ontario as well as the Buckingham Graphite Property, the
Laverlochere Nickel, Copper, PGM property and the Cere-Villebon Nickel, Copper PGM property all
of 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 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 informati on, 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]