Noble Mineral Exploration Inc. (TSXV: NOB) (OTCQB: NLPXF) has entered into an agreement to acquire the North Bradshaw Property from Gravel Ridge Resources Ltd. and 1544230 Ontario Inc. The purchase price includes $73,000 in cash payable over three years and the issuance of 600,000 common shares of Noble. The vendors will also receive a 1.5% net smelter returns royalty, with Noble holding the right to buy back one-third of the royalty (0.5%) for $500,000. The transaction is subject to board and TSX Venture Exchange approvals.
The property is contiguous to the Gowest Bradshaw Gold Property, historically known as the Frankfield East Deposit, held by GoWest Gold Ltd. A pre-feasibility study completed in 2015 on the Gowest property identified indicated and inferred gold resources, as reported on GoWest Gold's website. Both properties lie within the Abitibi Greenstone Belt, one of Canada's premier Archean gold-producing districts.
The Gowest deposit is hosted in mafic volcanic rocks, ultramafic units, strongly altered shear zones, and local intrusive rocks. Gold mineralization occurs in a broad, altered, and brecciated structural zone rather than a narrow quartz vein. Previous exploration identified the principal orebody as following the contact between hanging-wall basalt and footwall ultramafic rocks, consisting of a thick tabular body with excellent continuity. Higher-grade gold is concentrated along the margins of the main shear zone, occurring primarily as disseminated pyrite, fine free gold, quartz-carbonate alteration, silica flooding, and sericite-carbonate alteration.
Noble's CEO, H. Vance White, stated, "We are pleased to be proceeding with the purchase of prospective mining claims in Ontario. Noble believes these projects offer significant potential for new discoveries and continued exploration success."
The technical content has been reviewed and approved by Wayne Holmstead, P.Geo., an independent Qualified Person under NI 43-101.
Additionally, Noble provided final information on its recently completed plan of arrangement under the Business Corporations Act (Ontario), effective May 27, 2026. Under the arrangement, each pre-arrangement common share was exchanged for one new Noble share and a pro rata portion of 9,000,000 common shares of Homeland Nickel Inc., at an exchange ratio of approximately 0.034060787614 Homeland shares per Old Noble share. No fractional shares or cash in lieu were issued. The fair market value of each Homeland share was set at $0.39, based on the closing price on May 26, 2026, and treated as a return of capital. Noble disclaims responsibility for shareholders' tax treatment and encourages seeking independent advice.
Noble is a Canadian-based junior exploration company with holdings in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and the Holdsworth gold exploration property in Wawa, Ontario. It holds exploration rights to approximately 70,000 hectares in Northern Ontario and 14,000 hectares elsewhere in Quebec and Newfoundland, including Project 81 in Timmins-Cochrane, which hosts diversified drill-ready gold, nickel-cobalt, and base metal targets. Noble also holds properties in Quebec and Newfoundland, including the Buckingham Graphite, Havre St Pierre Nickel-Copper-PGM, and various rare earth properties.
This acquisition aligns with Noble's strategy to expand its footprint in the Abitibi Greenstone Belt, leveraging the geological similarities to the Gowest deposit to potentially unlock value. The arrangement details provide clarity for shareholders on the distribution of Homeland shares, reinforcing the company's commitment to transparency.
