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Noble Agrees to Additional Property Transactions with Canada Nickel Company Inc.
(via TheNewswire) Toronto - TheNewswire - March 4, 2020 - Noble Mine...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Noble Agrees to Additional Property Transactions with Canada Nickel Company Inc.(via TheNewswire)\n \n \nToronto - TheNewswire - March 4, 2020 - Noble Mineral Exploration Inc. (TSXV: NOB) (OTC:NLPXF) (FSE:NB7) (\"Noble\" or the \"Company\") announces that it has signed a Memorandum of Agreement (the \"MoA\") with Canada Nickel Company Inc. (TSX-V: CNC) (\"Canada Nickel\") with respect to additional nickel-prospective areas within Noble's Project 81, including entering into option agreements on 5 other targets near the Canada Nickel Crawford Nickel-Cobalt Sulphide Project (\"Crawford\") near Timmins, Ontario. \n\n \n \nThe Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well-established, major infrastructure associated with over 100 years of regional mining activity. An initial resource for the project was recently published (see Noble news release March 2, 2020).\n\n \n \nTransaction Summary:\n\n \n \nCanada Nickel has agreed to pay to Noble $500,000 in cash and issue 500,000 Canada Nickel common shares to acquire the Crawford Annex property and acquire options to earn up to an 80% interest in 5 additional nickel targets within the Project 81 land package. The Crawford Annex comprises 4,909 hectares in Crawford and Lucas townships, and the 5 option areas (Crawford-Nesbitt-Aubin, Nesbitt North, Aubin-Mahaffy, Kingsmill-Aubin, and MacDiarmid) (\"Option Properties\") range in size of 903 to 5,543 hectares. See Figure 1 for a map of property locations.\n\n \n \nCanada Nickel can earn up to an 80% interest in each of the Option Properties on the following terms and conditions. \n\n\n \n\n\n1) Canada Nickel can initially earn a 60% interest in each of the Option Properties within 2 years by: \n\n\n\n\n \n\n\n--funding at least $500,000 of exploration and development expenditures on each option property; \n\n\n\n--paying all property maintenance costs for each option property, including all applicable mining land taxes; and \n\n\n\n--making a payment to Noble of an additional $250,000 in cash or, at Noble's election, Canada Nickel common shares. \n\n\n\n \n \n\n\n2) Canada Nickel has the right to then increase its interest to 80% in each of the Option Properties within 3 years by funding an additional $1,000,000 of exploration and develo...