Noble Mineral Exploration to Acquire Lucas Gold Project from Canada Nickel Company

Noble Mineral Exploration Inc. has entered into a definitive Purchase Agreement to acquire the Lucas Gold Project from Canada Nickel Company Inc. (CNC), following a previously announced binding Letter of Intent dated July 13, 2026. The transaction consideration consists of 5,000,000 units valued at $0.06 per unit, issued to CNC. Each unit comprises one common share and one-half non-transferable common share purchase warrant.

CNC retains a "Back-in Right" to repurchase a 25% interest in the property after a defined Trigger Date, which is the earlier of 36 months, $5M in exploration expenditures, or a sale or change of control. Exercising this right requires CNC to pay Noble four times the exploration expenditures incurred.

The Lucas Gold Project is located approximately 30 km north of Timmins, Ontario. Historical drilling in 2018 completed 15 holes totaling 3,184m, covering approximately 650m of strike on a 1,700m gold structure. Only one of six discrete IP anomalous trends has been drilled to date.

This closing follows the TSX Venture Exchange approval and closing of the North Bradshaw property acquisition announced on August 4, 2026, and closed on September 15, 2026.

Noble Mineral Exploration Inc. (NOB) fully disclosed the acquisition via a Letter of Intent in July 2026. The definitive agreement terms remain consistent with the prior announcement, indicating no renegotiation or surprise concessions. The market had already priced in this transaction, making the closing a procedural milestone that finalizes management's strategy to expand its gold footprint in the prolific Timmins camp.

The Back-in Right structure protects CNC's potential upside while granting Noble full exploration control and funding responsibility. This arrangement does not immediately dilute existing shareholders beyond the agreed 5M units. Financially, the transaction is non-cash and aligns with the company's stated use of proceeds for exploration. It does not alter the company's going concern status or immediate liquidity position. The news is expected, incremental, and follows a clear historical progression of M&A activity.

Noble Mineral Exploration Inc. (NOB) holds approximately 70,000 hectares in Northern Ontario, along with roughly 14,000 hectares in Quebec and Newfoundland. The company’s portfolio spans gold, nickel-copper-PGM, graphite, rare earth elements (REE), and uranium.

Key assets include the Lucas Gold Project in Timmins, Ontario, and North Bradshaw within the Abitibi Greenstone Belt. Other significant holdings include the Cere-Villebon nickel-copper-PGM project, the Chapiteau and Mehmet rare earth projects, and the Gull Lake REE property, which is situated adjacent to the Montviel deposit. Noble Mineral Exploration is currently in the exploration stage and has not yet defined any mineral resources or reserves. Management’s strategy focuses on the use of advanced exploration technologies and the assembly of strategic land packages.