NSR Royalty to be Reduced from 5% to 2% on Patented Mineral Rights
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
PROJECT 81
NSR Royalty to be Reduced from 5% to 2% on Patented Mineral
Rights
Toronto, Ontario – March 19, 2019 – 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 letter of intent that, upon implementation, would result in the net smelter return
royalty interest (the “NSR”) on the approximate 52,000 Ha of patented mineral rights of Project
81 property being reduced from 5% to 2% but no longer subject to a purchase option. The terms
and conditions of the transaction as set out in the letter of intent: (a) include a cash consideration
from Noble in two instalments; (b) are currently non-binding on the parties; but the parties are
moving to negotiate definitive agreements t hat are to be signed within 45 days. Completion of
the transaction is subject to certain conditions, including the negotiation and signature of definitive
agreements, the approval of the board of directors of Noble, compliance with securities laws and
compliance with TSX Venture Exchange policies.
Vance White, Noble’s President and CEO commented: “ We’re pleased to have reached this
understanding in relation to the NSR on Project 81, as we believe the significant reduction of the
NSR Royalty will attract more Option and JV partners to pursue and fund the exploration of our
Project 81. We believe our project to be a very underexplored area of lands located immediately
north of the Kidd Creek mine, which has produced in excess of 160mm tons of high-grade base
metals. We believe that major VMS mega deposits, such as the Kidd, occur in clusters as satellite
deposits and Project 81 could potentially host these satellite deposits. Additionally, we have a
number of very large Nickel+Cobalt+/ -Pt+/-Pd depos its, together with a Gold Deposit and a
number of drill-indicated Gold showings. Such is the search in which Noble and its partners are
engaged, and, with a reduced NSR, Project 81 will be more attractive to Option and JV partners
to join us. We have completed an exhaustive data compilation on the project and have identified
multiple drill ready targets with prior indications of mineralization.”
Randy S C 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 Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition
to its shareholdings in Spruce Ridge Resources Ltd. and in MacDonald Mines Exploration Ltd.
and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in
excess of 79,000 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”.
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 t o 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]