Noble Minerals Announces Drilling Results From Noble Minerals-Canada Nickel Joint Venture

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TORONTO, Ontario - (NewMediaWire) - October 31, 2024 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce results of a drill program on joint venture properties (ExploreCo) north of Timmins Ontario (See Canada Nickel Press Release dated October 31, 2024).

Highlights

  • Drill Program completed on the Mann and Reaume Properties, part of the Noble Minerals-Canada Nickel Joint Venture (ExploreCo)

  • Mann Central Property: Drill results include 223 meters of 0.29% nickel including 10 meters of 0.51% nickel

  • Mann West Property: Drilling successfully delineated mineralization over a 1,700 meter strike length and 600 meters width

  • First assays from 2024 drilling at Mann West yield excellent results including 330 metres of 0.26% nickel in MAN24-58 including a total of 24.5 metres of 0.35% nickel; initial resource estimate expected by Q1 2025

  • Multiple gold intervals in Mann North drilling including 4.5 metres of 2.36 g/t gold within 45 metres of 0.45 g/t gold at MAN24-67

  • Reaume Property: Drilling indicated an improved nickel grade

ExploreCo, the name of which will be announced in due course, will control 1,989 mining claims totaling approximately 42,000 hectares and will include nickel properties in Mann, Newmarket, and Reaume Townships as well as Calder, Galna, McCool, Moody, Mortimer, Stimson, and other properties currently held by Canada Nickel (see Figure 1, ExploreCo properties shown in purple).

Figure 1 - Regional Map of ExploreCo Properties (purple)

Under the Binding Letter of Intent, the first $5 million of funding for ExploreCo will be provided from existing funds by Canada Nickel, after which costs will be funded by pro rata ownership basis, which will initially be 80% Canada Nickel and 20% Noble. Canada Nickel and Noble will continue to maintain their existing royalty rights on the ExploreCo claims, as will previous claim owners who had vended claims to Noble. (see NR July 8, 2024)

Mann Property

The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane. The Company has completed a drill program in three of the four identified areas within the property, Mann North, Mann West (together formerly Mann Northwest), and Central. (Figure 2). Exploration at Mann South is currently underway. Canada Nickel currently owns 80% of the Mann Property after successfully completing an earlier earn-in agreement with Noble Mineral Exploration. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.