Noble Mineral to settle debt with cash, warrants

Mr. H. Vance White reports NOBLE UNDERTAKES DEBT SETTLEMENT Noble Mineral Exploration Inc. has reached an agreement with an arm's-length creditor to settle bona fide debt through the payment of $14,000 in cash and issuance of 466,666 broker warrants, each warrant being exercisable for one common share of Noble at a price of 12.5 cents per share for a period of two years following their issuance. The transaction remains subject to approval of the TSX Venture Exchange and the board of directors of Noble. All warrants to be issued in this transaction will be subject to a four-month hold period. About Noble Mineral Exploration Inc. Noble Mineral is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company, Homeland Nickel, East Timmins Nickel Inc. (20 per cent) and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont. Noble holds mineral and/or exploration rights in approximately 70,000 hectares in Northern Ontario and approximately 24,000 hectares elsewhere in Quebec, 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 and approximately 2,215 hectares in Thomas township/Timmins, as well as an additional 20-per-cent interest in approximately 38,700 hectares in the Timmins area held by East Timmins Nickel. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble also holds approximately 4,600 hectares in the Nagagami carbonatite complex and its approximately 3,200 hectares in the Boulder project, both near Hearst, Ont., approximately 3,700 hectares in the Buckingham graphite property, approximately 10,152 hectares in the Havre St. Pierre nickel, copper, platinum group metal property, approximately 1,573 hectares in the Cere-Villebon nickel, copper, PGM property, approximately 569 hectares of the uranium/rare earth property (Chateau), approximately 461 hectares of the uranium/molybdenum property (Taser North), approximately 4,465 hectares of the rare earth element Mehmet property and the approximately 3,300-hectare Gull Lake REE property, all of which are in the province of Quebec, and the approximately 647 hectares of the Chapiteau REE property in Labrador. Noble's common shares trade on the TSX-V under the symbol NOB.