Spruce Ridge signs LOI with Private Group regarding the Crawford Township Property
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Spruce Ridge signs LOI with Private Group regarding the Crawford
Township Property
Toronto, Ontario – September 28, 2018 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF)
As previously announced, Noble signed an Option and Joint Venture Agreement (the “ Option
Agreement”) with Spruce Ridge Resources Ltd. (“Spruce Ridge”) providing Spruce Ridge the right
to earn up to a 75 percent interest in the Crawford Township Property on specific target areas
having a size of up to 2000 hectares (the “Crawford Targets”). The Crawford Township Property
comprises part of Noble’s ~ 79,000 hectare Project 81.
For full details of the Option Agreement, please see Noble’s news release dated May 8, 2018, as
clarified by Noble’s news release dated May 17, 2018.
Noble announces that it has been advised that Spruce Ridge has signed a letter of intent with a
private group of knowledgeable mining investors contemplating that such investors could acquire
up to half of the interest that Spruce Ridge can acquire in the Crawford Targets under the Option
Agreement. The letter of intent contemplates that the investors could so acquire part of Spruce
Ridge’s interest by contributing to the second payment of $50,000 owed to Noble under the Option
Agreement, and also contribute to the respective qualifying expenditures required to be made by
Spruce Ridge (SHL.V) to earn the agreed interest in the Crawford Targets. (Please refer to Spruce
Ridge's news release dated September 27, 2018 for more information on the terms of the LOI.)
Vance White, Noble’s President and CEO commented: “We are very pleased to see Spruce Ridge
move forward with the performance of the Option Agreement, and look forward to the results from
their planned drilling campaign. We will work diligently with Spruce Ridge and its new partners to
negotiate and reach agreement on the amendments to the Option A greement that are
contemplated under the terms of the LOI.”
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 ~79,000 hectares of mineral
rights in the Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts
diversified drill-ready nickel-cobalt, 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”.
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]
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