Noble Completes Royalty Reduction Agreements

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

(TheNewswire)

December 19, 2019 – TheNewswire - Noble Mineral Exploration Inc. (TSXV:NOB) (OTC:NLPXF) (FSE:NB7) (“Noble” or the “Company”) is pleased to announce that it has completed the acquisition of the 5% net smelter royalty applicable to ~55,000 hectare of patented mineral rights on its Project 81 in the Timmins-Cochrane area of northern Ontario.  As a result of doing so, those patented properties are now only subject to a 2% royalty.  (See Noble’s news releases of October 24, 2019 and November 28, 2019 for more information.)  Approximately 24,000 additional hectares of the Company’s Project 81 are not subject to any royalty.

 

As previously announced, Noble entered into a royalty assignment agreement for the purchase of the current 5% royalty that applies to parts of Project 81.  (See Noble’s news release of October 24, 2019.)  Noble also entered into agreements requiring that, after having purchased the 5% royalty, Noble will terminate that royalty with respect to Noble’s properties, leaving in place a newly-granted 2% royalty applicable to the same properties as the 5% royalty.

Vance White, Noble’s President and CEO commented: “We’re very pleased to have been able to complete this transaction. We believe that reducing the royalty on a 55,000 hectare portion of Project 81 from 5% to 2% will open up the opportunity of bringing in additional option and joint venture partners for the exploration and development of Project 81, consistent with our project generator business model.”

 

About Noble Mineral Exploration Inc.

 

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in in 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 in excess of 78,000 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”.

 

Contacts (Noble):
H. Vance White, President

Phone: 416-214-2250 Fax: 416-367-1954 Email: info@noblemineralexploration.com
Investor Relations Email:
ir@noblemineralexploration.com

 

Forward-Looking Information

 

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.

 

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, timing for completion of the proposed transaction, the amount and uses of proceeds, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Noble’s publicly available documents filed under SEDAR. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Noble disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Copyright (c) 2019 TheNewswire - All rights reserved.