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 retaining the right to buy back one-third of that royalty for $500,000.
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 on the Gowest property identified both indicated and inferred gold resources, underscoring the area's potential. Both properties lie within the Abitibi Greenstone Belt, one of Canada's premier Archean gold-producing districts.
Geologically, the gold mineralization at the Bradshaw deposit is hosted within a sequence of mafic volcanic rocks, ultramafic units, strongly altered shear zones, and local intrusive rocks. The orebody follows the contact between hanging-wall basalt and footwall ultramafic rocks, forming a thick tabular body with excellent continuity. Higher-grade gold is concentrated along the margins of the main shear zone, with gold occurring as disseminated pyrite, fine free gold, quartz-carbonate alteration, silica flooding, and sericite-carbonate alteration.
Noble's CEO, H. Vance White, expressed enthusiasm: "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 acquisition aligns with Noble's strategy of expanding its footprint in Northern Ontario, where it already holds significant mineral rights. The company's Project 81 in the Timmins-Cochrane area hosts diversified drill-ready gold, nickel-cobalt, and base metal exploration targets.
In addition to the acquisition, Noble provided final information on its recently completed plan of arrangement, which took effect on May 27, 2026. Under the arrangement, pre-arrangement common shares were exchanged for one new common share and a pro rata portion of 9,000,000 common shares of Homeland Nickel Inc., at an exchange ratio of approximately 0.034060787614 of a Homeland share per Old Noble share. No fractional shares or cash in lieu were distributed.
The company used Homeland Nickel's closing price of $0.39 per share on May 26, 2026, as the fair market value for the distribution, treating the $0.39 per share as a return of capital. However, Noble disclaims responsibility for individual tax treatments and encourages shareholders to seek their own advice.
The technical content of this release has been reviewed and approved by Wayne Holmstead, P.Geo., an independent Qualified Person as defined by National Instrument 43-101.
Noble Mineral Exploration Inc. 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 mineral and/or exploration rights in approximately 70,000 hectares in Northern Ontario and about 14,000 hectares in Quebec and Newfoundland, planning to generate option and joint venture exploration programs.
This acquisition underscores Noble's commitment to advancing its gold exploration portfolio in a region with proven mineralization and infrastructure. The proximity to Gowest's project provides geological confidence and potential for resource expansion.
