Noble Mineral Exploration acquiring Lucas Gold Project from Canada Nickel

Noble Mineral Exploration Inc. [TSXV: NOB; FRANKFURT: NB7; OTCQB: NLPXF] reported that it has entered into a Purchase Agreement to acquire the Lucas Gold Project from Canada Nickel Company Inc. [TSXV: CNC; OTCQX: CNIKF]. Noble previously announced the entering into a letter of intent with CNC in its news release issued on July 13, 2026.

Noble will issue 5,000,000 units in the capital of Noble with the Units being valued at $0.06 per Unit. Each Unit will consist of one Common Share and one half non-transferable Common Share Purchase Warrant. One Common Share Purchase Warrant will be exercisable allows at $0.15 per share for two years.

CNC will be granted the right (Back-in Right) to purchase from Noble a 25% interest in the property, at any time beginning on the Trigger Date (as defined below), by making a payment to Noble equal to four times the expenditures incurred by Noble for the exploration and maintenance of the property (including any costs of geological, scientific and other analyses and reports) (Exploration Expenditures).  The “Trigger Date” will be the date that is the earlier of 36 months from the closing of the transaction; the date when at least $5 million of Exploration Expenditures have been incurred on or with respect to the property (including any adjacent properties); the date when Noble enters into a binding agreement for the sale of the Property, or the date when a change of control occurs with respect to Noble unless the Back-in Right is not affected by such transaction. The transactions under the Purchase Agreement remain subject to compliance.

Vance White, President and CEO of Noble, said: “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. We believe this to be a very valuable asset to Noble in a space we expect improving forecasted gold price in these uncertain geopolitical times.”

The Lucas Township Gold Project is a drill-ready project located approximately 30 km north of Timmins, Ontario, world famous for >75 million ounces of gold production. It is also located 20 km northeast of the world class Kidd Creek Mine with 58 years of continuous production consisting of >150 million tonnes of ore. In addition, it is also located about 20 km east of the Crawford Nickel Resource currently being developed by CNC.

Full industry services, supplies and infrastructure are in place in Timmins with access via paved Highway 655. There is ample access to power and water. Noble also has a MoU signed with local First Nations.

In 2018, Noble completed 15 NQ size diamond drill holes totaling 3,184 meters covering approximately 650 metres strike length of the 1,700-metre gold mineralized structure/trend identified from 2012 and 2018 airborne electromagnetic and differential magnetic surveys. Noble located 37 historical drill-hole collars in the field and twinned three of these historical drill holes. No further work has been done since 2018.

The Lucas Gold Project has six discrete IP anomalous trends which require follow-up exploration. Only one trend has been investigated by diamond drilling to date. Gold mineralization in the Lucas Gold Deposit is interpreted to be structurally controlled and occur as discrete lenses stacked within the pyrite plus gold mineralized tuffaceous unit.

As mentioned previously, the Lucas Gold Project is drill ready with a First Nation MoU in place. Future work would include drilling on the initial IP Anomaly to further define the gold mineralization. In addition, testing the other five, undrilled, IP anomalies to test for gold mineralization similar to the initial IP Anomaly. Refer to original press release for detailed drill results.

Noble Mineral Exploration has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and its interest in the Holdsworth gold exploration property near Wawa, Ontario.

Noble holds mineral and/or exploration rights in ~67,000ha in Northern Ontario and ~12,000ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs.

Noble holds mineral rights and/or exploration rights in ~18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,231 hectares in Thomas Twp/Timmins, as well as an additional 20% interest in ~38,700 hectares in the Timmins area, ~317 hectares in the Holdsworth gold property near Wawa, Northern Ontario, ~4,619 hectares in the Nagagami Carbonatite Complex and ~210 hectares in the Boulder Project both near Hearst, Ontario.

In Quebec, Noble holds ~721 hectares in the Buckingham Graphite Property, ~325 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~569 hectare Uranium/Rare Earth property (Chateau) and a ~461 hectare Uranium/Molybdenum property (Taser North), ~4,473 hectares REE Mehmet Property; the ~3,300 hectare Gull Lake REE Property; and the ~1,232 hectare Opawica Scandium and REE Property all of which are in the province of Quebec. In Newfoundland and Labrador, it holds the~ 647-hectare Chapiteau REE property.