Noble Executes Agreement to Purchase Holdsworth Gold Property from Macdonald Mines
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 Executes Agreement to Purchase Holdsworth Gold
Property from Macdonald Mines
Toronto, Ontario – August 25, 2020 - Noble Mineral Exploration Inc. (“Noble” or the "Company") (TSX-
V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that, it has executed a n agreement with
MacDonald Mines Exploration Ltd. (TSX -V: BMK) (“MacDonald”) to acquire all of MacDonald’s interest in the
Holdsworth gold property (the “Property”), located 25 kilometres northeast of Wawa, Ontario in Corbiere and
Esquega Townships.
As payment for the Property, Noble will issue to MacDonald 4,000,000 common shares (the “Shares”) of Noble,
as well as 2,000,000 warrants (the “ Warrants”) expiring 3 years after issuance and exercisable at $0.15 per
common share of Noble. Noble and MacDonald have agreed that the Shares are valued at $0.0 7 per Share.
Noble’s common shares closed at $0.09 on August 21, 2020. The Shares and the Warrants will be subject to a
4 month hold period.
The Property was held by Noble until it was sold to MacDonald in transactions completed in 2016 and 2017.
Noble’s repurchase of the Property remains subject to TSX Venture Exchange approval.
Vance White President and CEO of Noble said “We are pleased to have reacquired this project to add to our gold
holdings portfolio in light of the work carried out by MacDonald and the discovery of a new shear zone which will
need additional follow up. Also, we have recently taken ~450kg samples of the Oxide Sands on the Property from
various pits and trenches, which have returned assay results for Gold (Au) of 3.42-7.93g/t and 15.0 – 73.9 g/t for
Silver(Ag). One 25kg. sample has been sent out for testing to a facility in Montreal to determine if it can be
converted to a concentrate from which the gold and silver can be recovered. If the testing is determined positive
and with gold prices at a current ~Cdn$2,500/oz , the Holdsworth Oxide Sands property may prove to be a near
term source of cash flow.”
Randy S.C. Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development 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. 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 .
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, OntarioM5H 1T1
Phone: 416-214-2250
Fax: 416-367-1954
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
information, future events or otherwise.
Contacts:
Noble Mineral Exploration Inc.
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: [email protected] IR Email: [email protected]