TORONTO, July 8, 2024 – Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has signed a Binding Letter of Intent (the “LOI”) with Canada Nickel Inc. (“Canada Nickel”) whereby Noble and Canada Nickel will spin-out certain mining claims (the “Properties”) into a new company to consolidate their interests in large tonnage, low grade nickel projects east of Timmins, Ontario.
Highlights
- Noble has exercised all underlying options with Optionors on the Mann Twp properties.
- Consolidation of the Canada Nickel-Noble joint venture in Mann Township into a single private company for a future public listing
- Transfer by Canada Nickel of several exploration properties east of Timmins
- Transfer by Noble of several mining claims and patented mineral properties to Canada Nickel, as well as the right acquire surface rights that could be used within and around the Crawford Project
- Provision of certain non-dilutive exploration funding requirements to be provided to the private company by Canada Nickel
- Both Canada Nickel and Noble will retain their respective NSR’s and NSR buy back rights where applicable
