Noble Receives Final Court Order for Arrangement

• Ontario Superior Court of Justice issued a final order approving Noble's plan of arrangement to reorganize share capital.
• Company will distribute approximately 9,000,000 common shares of Homeland Nickel Inc. to existing shareholders.
• Distribution ratio is approximately 0.034 Homeland shares per Noble common share.
• Estimated value of distribution is ~$4 million USD/CAD based on recent Homeland closing prices.
• Record date for distribution is Wednesday, May 27, 2026, at 12:00 a.m.
• Effective date of arrangement is Wednesday, May 27, 2026, at 12:01 a.m.
• New trading date under new CUSIP expected Friday, May 29, 2026.
• Shareholders must exercise warrants/options by Friday, May 22, 2026 to ensure settlement by record date.
• Noble will retain more than 10 million shares of Homeland Nickel Inc. following completion.
• CEO Vance White notes total historic distributions (including CNC) exceed $28 million in value returned to shareholders.

• The news confirms the execution of a plan announced in February 2026, making it largely priced into the market over the preceding months.
• Returning ~$4 million in value directly to shareholders is positive but expected given prior announcements regarding the Homeland distribution ratio and volume.
• Retaining >10 million Homeland shares post-distribution preserves significant asset value on Noble's balance sheet for future potential distributions or strategic options.
• The court order removes regulatory uncertainty, allowing the transaction to proceed as scheduled without further legal hurdles.
• Dilution risk exists if warrants/options are exercised prior to record date (May 26), increasing share count before distribution ratio is finalized.
• No material negative impact on exploration operations; summer programs commenced May 11 remain unaffected by capital reorganization.

• Noble Mineral Exploration Inc. is an exploration company focused on critical minerals including Rare Earth Elements (REE), Nickel, Scandium, and Base Metals.
• Flagship Projects: Timmins District VMS/Nickel projects (via partnership with Canada Nickel), Quebec REE/Scandium properties (Gull Lake, Mehmet, Scandium Property).
• Portfolio includes ~70,000 ha in Northern Ontario and ~24,000 ha elsewhere in Quebec.
• Strategic focus on high-potential critical mineral jurisdictions aligned with Canadian government initiatives.
• Significant holdings in public companies (Homeland Nickel Inc., previously Canada Nickel Company) utilized for shareholder distributions.