Business
Noble Options its Properties in Mann, Hanna, Duff and Reaume Twps and Sells its Patents in Kingsmill and Mabee Twps to Canada Nickel
(TheNewswire) Toronto, Ontario - TheNewswire - November 22, 2021 ...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Noble Options its Properties in Mann, Hanna, Duff and Reaume Twps and Sells its Patents in Kingsmill and Mabee Twps to Canada Nickel\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario -\n \n \n TheNewswire -\n \n \n November 22, 2021 - Noble Mineral\nExploration Inc.\n \n \n (\n \n \n “Noble” or the\n“Company”\n \n \n ) (TSXV:NOB\n \n \n )\n(\n \n \n FRANKFURT:NB7\n \n \n )\n(\n \n \n OTC:NLPXF) is pleased to announce that it has\nentered int a Letter of Intent with Canada Nickel Company\n(“\n \n \n CNC\n \n \n ”) to option\n \n \n \n \n its mining claims\n \n \n (the “Claims\n \n \n ”\n \n \n )\n \n \n in Mann, Hanna,\nDuff, and Reaume Townships,\n \n \n and to sell its MRO\nPatents\n \n \n (the “Patents”)\n \n \n in Kingsmill and Mabee Townships\n \n \n .\n \n \n \n \n Deal Terms\n \n \n \n \n The terms of the Option to earn into the mining claims\nin Mann, Hanna, Duff, and Reaume Townships over four years will be\npayments of $400,000, delivery of 400,000 shares of Canada Nickel, and\ncompletion of $1,700,000 of exploration work, after which the\nproperties would be held in an 80/20 Joint Venture between Canada\nNickel and Noble. Noble will also retain a 2% NSR on the staked claims\nthat are included in the Claims, and retain a buyback right on the\nthird-party NSR that applies to the other optioned Claims both of\nwhich are subject to certain buyback rights as to 50%.\n \n \n \n \n The terms of the sale of the MRO patents in Kingsmill\nand Mabee Townships will be the issuance of 500,000 shares of Canada\nNickel to Noble.\n \n \n \n \n The transactions are subject to definitive agreements\nbeing prepared and agreed to, to the approval by the Board of\nDirectors of each party, to approval by the TSX Venture Exchange and\nto compliance with securities and other laws and regulations.  The\napproval of Noble’s shareholders may also be required.\n \n \n \n \n Vance White, President and CEO of Noble, said “we are\nextremely pleased to be able to invite Canada Nickel, with their\nexpertise, to secure this very large land package as it represents a\n20km strike length where evidence of nickel, cobalt, PGM’s, rhodium\nand rare earth minerals have been found to be present in work carried\nout by past explorers. We look...