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PROJECT 81: NSR Royalty to be Reduced from 5% to 2% on Patented Mineral Rights
(via TheNewswire) Toronto, Ontario / TheNewswire / March 19, 2019 - Noble Mineral Expl...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"PROJECT 81: NSR Royalty to be Reduced from 5% to 2% on Patented Mineral Rights(via TheNewswire)\n\n \nToronto, Ontario / TheNewswire / March 19, 2019 - Noble Mineral Exploration Inc. (\"Noble\" or the \"Company\") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) is pleased to announce that it has signed a letter of intent that, upon implementation, would result in the net smelter return royalty interest (the \"NSR\") on the approximate 52,000 Ha of patented mineral rights of Project 81 property being reduced from 5% to 2% but no longer subject to a purchase option. The terms and conditions of the transaction as set out in the letter of intent: (a) include a cash consideration from Noble in two instalments; (b) are currently non-binding on the parties; but the parties are moving to negotiate definitive agreements that are to be signed within 45 days. Completion of the transaction is subject to certain conditions, including the negotiation and signature of definitive agreements, the approval of the board of directors of Noble, compliance with securities laws and compliance with TSX Venture Exchange policies.\n\n\n \nVance White, Noble's President and CEO commented: \"We're pleased to have reached this understanding in relation to the NSR on Project 81, as we believe the significant reduction of the NSR Royalty will attract more Option and JV partners to pursue and fund the exploration of our Project 81. We believe our project to be a very underexplored area of lands located immediately north of the Kidd Creek mine, which has produced in excess of 160mm tons of high-grade base metals. We believe that major VMS mega deposits, such as the Kidd, occur in clusters as satellite deposits and Project 81 could potentially host these satellite deposits. Additionally, we have a number of very large Nickel+Cobalt+/-Pt+/-Pd deposits, together with a Gold Deposit and a number of drill-indicated Gold showings. Such is the search in which Noble and its partners are engaged, and, with a reduced NSR, Project 81 will be more attractive to Option and JV partners to join us. We have completed an exhaustive data compilation on the project and have identified multiple drill ready targets with prior indications of mineralization.\" \n\n\n \nRandy S C Singh P.Geo. (ON), P.Eng. (ON), VP Exploration & Project Development of Noble and a \"qualified person\" as ...