Noble Enters Binding Letter of Intent to Vend its Wawa-Holdsworth Project Interest to MacDonald Mines
2500 – 120 Adelaide St. West, Toronto, Ontario M5H 1T1
Phone: 416-214-2250
Toll Free: 866-214-9486
Fax: 416-367-1954
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Enters Binding Letter of Intent to Vend its Wawa-Holdsworth
Project Interest to MacDonald Mines
Toronto, Ontario – March 30, 2017 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that
it has signed a binding Letter of Intent (“LOI”) with MacDonald Mines Exploration Ltd. (TSX -V:
BMK) (“MacDonald Mines”, “MacDonald”) to acquire all of Noble’s interest in the Holdsworth
property (the “Property”), located 25 kilometres northeast of Wawa, Ontario. MacDonald
previously entered into an Option and Joint Venture (“JV”) agreement with Noble on December
7, 2016 to advance exploration on the Holdsworth property. The LOI supersedes the JV
agreement.
LOI Highlights
To acquire a 100% interest in the Holdsworth property, MacDonald Mines agreed under the LOI
to:
• Issue 5,500,000 MacDonald units, each unit consisting of one Class A common share of
MacDonald and one non- transferable Class A common share purchase warrant of
MacDonald exercisable at $0.30 per share for a period of three years from the date of
issuance.
• Grant Noble a 1.5% net smelter return royalty (the “NSR”) on the Holdsworth property,
with MacDonald having the right to re-purchase one half of the NSR for $500,000 at any
time.
• Pay the equivalent of 5,000 ounces of gold equivalent to Noble once MacDonald has
extracted, refined and sold a minimum of 50,000 ounces of gold from the oxide sands
portion of the Property.
Quentin Yarie, MacDonald’s President and CEO commented: “In the few months our team has
worked on the Holdsworth property, we’ve determined that there is a good potential for gold
extraction there. We’ve already initiated a bulk sampling program of the oxides sands –the main
gold target on the property. S ecuring 100% interest ensures that MacDonald can continue to
aggressively advance the Wawa- Holdsworth Project and significantly increase shareholder
value.”
Vance White, Noble’s President and CEO commented: “By vending the balance of the Wawa
Holdsworth interest Noble will become a significant shareholder in MacDonald, have a potential
gold streaming revenue stream and an ongoing NSR over the entire project area whilst allowing
MacDonald to aggressively proceed w ith the plans for an oxide sand bulk sampling program
and follow up to the newly discovered gold bearing shear zone reported in a news release dated
December 13, 2016. This will allow Noble to focus on Project 81, where we plan an Airborne
Gravity Gradiometer Survey over the entire ~70,000 Hectare Project Area as well as an
airborne EM/Mag survey over the two southern townships (Carnegie and Crawford) which sit
2500 – 120 Adelaide St. West, Toronto, Ontario M5H 1T1
Phone: 416-214-2250
Toll Free: 866-214-9486
Fax: 416-367-1954
immediately north of the world class Kidd Creek mine of Exstrada celebrating its fiftieth year of
production”.
Randy Singh P.Geo(ON), P.Eng (ON), VP Exploration & Project Development of Noble and 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 the Company.
About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto,
Ontario focused on gold and silica exploration in Canada. The Company has built a portfolio of
safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for
return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project
and Charlevoix Silica Property.
Wawa-Holdsworth Project Highlights:
• Approximately 285 hectares, 20 kilometres northeast of the town of Wawa
• Neighbouring Argonaut's >6Moz gold Magino Deposit & Richmont's >1Moz gold Island
Gold Mine;
• Numerous gold showings with diversified mineralization styles occurring in a 500 metres-
wide deformation corridor;
• Lode Gold in traditional quartz veins, known as the "The Soocana Vein;
• an oxidized cap at surface developed over a massive pyrite zone (Algoma Iron
Formation) known as the “The Oxide Sands";
• the precursor to the Oxide Sands - a massive pyrite zone (Algoma Iron Formation) at
depths, known as "The Massive Sulphide";
• Year-long road access and easy access to rail, road, electrical power, labour force and
suppliers;
• Fee simple absolute ownership of both surface and mineral rights property-wide
facilitates the early and advanced exploration process and timelines.
The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in
excess of 70,641 hectares of mineral rights in the Timmins - Cochrane areas of Northern
Ontario. The Company also holds a portfolio of diversified exploration projects at various stages
of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern
Saskatchewan. More detailed information is available on the website at
www.noblemineralexploration.com.
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.
2500 – 120 Adelaide St. West, Toronto, Ontario M5H 1T1
Phone: 416-214-2250
Toll Free: 866-214-9486
Fax: 416-367-1954
The foregoing information may contain forward- looking statements relating to the future
performance of Noble Mineral Expl oration 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 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]