Noble Executes Definitive Agreement 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 Executes Definitive Agreement to Vend its Wawa-Holdsworth
Project Interest to MacDonald Mines
Toronto, Ontario – May 4, 2017 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that,
following the execution of a binding Letter of Intent (“LOI”) (as was previously announced in a
news release dated March 30, 2017), it has executed a definitive Purchase and Sale Agreement
(“PSA”) 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 Property. The PSA supersedes the JV
agreement and LOI.
PSA Highlights
To acquire a 100% interest in the Property, MacDonald Mines has agreed under the PSA to:
• Issue to Noble 5,500,000 MacDonald common share 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;
• Make a quarterly gold payment to Noble equal to ten percent (10%) of the amount which
is obtained by: (i) multiplying the production of gold from the Oxide Sands by the average
gold price received during the quarter; and (ii) subtracting the sum of all deductions and
any capital and operating costs being amortized over the life of the project, up to a
maximum aggregate payment of 5,000 ounces of gold;
• Grant Noble a 1.5% net smelter return royalty (the “NSR”) on the Property (and any other
properties acquired within a 2 mile radius of the Property. MacDonald will have the right
to re-purchase one half of the NSR for $500,000 at any time.
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 and metallurgical testing of the
oxides sands –the initial gold target on the Property. Securing 100% interest ensures that
MacDonald can continue to aggressively advance the Wawa-Holdsworth Project and significantly
increase shareholder value, especially with the prospect of near term cash flow from the extraction
of the oxide sands.”
Vance White, Noble’s President and CEO commented: “We’re pleased to have been able to work
with MacDonald to unlock the current value of our Holdsworth project, while also retaining an
interest in the property through the NSR and 5,000 ounce gold payment. At current market prices,
the shares of MacDonald received to date (2,500,000 shares) and to be received when the PSA
closes (5,500,000) have a value in excess of $1.6 Million, with Noble looking to generate further
gains through the acc ompanying 8,000,000 warrants. This will also allow MacDonald to
2500 – 120 Adelaide St. West, Toronto, Ontario M5H 1T1
Phone: 416-214-2250
Toll Free: 866-214-9486
Fax: 416-367-1954
aggressively proceed with the plans for an oxide sand bulk sampling program and metallurgical
work and also to follow up on 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
immediately north of the world class Kidd Creek mine of Glencore 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 demons trate the greatest market potential for
return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project.
Wawa-Holdsworth Project Highlights:
• Approximately 285 hectares, 20 kilometres northeast of the town of Wawa;
• 18 fee simple absolute patented claims, including surface and mining rights;
• 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 metre-
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; and
• 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 which, in addition
to its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold
exploration property in the area of Wawa, Ontario, holds in excess of 70,641 hectares of mineral
rights in the Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts
diversified drill-ready gold 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”.
2500 – 120 Adelaide St. West, Toronto, Ontario M5H 1T1
Phone: 416-214-2250
Toll Free: 866-214-9486
Fax: 416-367-1954
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 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]