Noble Mineral Exploration Inc. Acquires Lucas Gold Project from Canada Nickel

Noble Mineral Exploration Inc. (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) announced that it has entered into a binding Letter of Intent to acquire the Lucas Gold Project from Canada Nickel Company Inc. (CNC). The transaction involves Noble issuing 5,000,000 units, each valued at $0.06 and consisting of one common share and one-half non-transferable common share purchase warrant exercisable at $0.15 per share for two years. Additionally, CNC will retain a Back-in Right to purchase a 25% interest in the property by paying Noble four times the exploration expenditures incurred, with a trigger date set at the earlier of 36 months from closing, $5 million in exploration expenditures, or a sale or change of control of Noble.

The Lucas Gold Project is a drill-ready asset located approximately 30 km north of Timmins, Ontario, a region renowned for over 75 million ounces of gold production. It is also 20 km northeast of the Kidd Creek Mine, which has produced over 150 million tonnes of ore in its 58-year history, and 20 km east of the Crawford Nickel Resource being developed by CNC. The project benefits from full infrastructure, including access via paved Highway 655, power, water, and a Memorandum of Understanding with local First Nations.

Noble previously conducted exploration in 2018, completing 15 diamond drill holes totaling 3,184 meters over a 650-meter strike length of a 1,700-meter gold mineralized trend identified from airborne surveys. The company located 37 historical drill-hole collars and twinned three of them. The project has six discrete IP anomalous trends, but only one has been drill-tested. Gold mineralization is interpreted as structurally controlled lenses within a pyrite-plus-gold mineralized tuffaceous unit. Future work will include drilling on the initial IP anomaly to further define mineralization and testing the five undrilled IP anomalies.

Vance White, President and CEO of Noble, stated, "We are very pleased to be proceeding with the repurchase of an excellent gold prospect on which we know from past work carried out by Noble of an existing gold zone but also a number of untested parallel zones." The acquisition is subject to negotiation of a definitive agreement and approval from the TSX Venture Exchange.

Stephen J. Balch, P.Geo. (ON), VP Exploration of CNC, and Wayne Holmstead, P.Geo. (ON), have reviewed and approved the technical information as qualified persons under National Instrument 43-101. For more details, visit Noble Mineral Exploration.