Canada Nickel Announces Property Transactions

Canada Nickel Company Inc. has entered into a Binding Letter of Intent to sell the Lucas Gold Project to Noble Mineral Exploration Inc. The consideration for the Lucas Gold Project consists of 5,000,000 units in Noble Mineral Exploration Inc., valued at $0.06 per unit for a total equity value of $300,000. Each unit contains one common share and one-half non-transferable warrant, with the full warrant exercisable at $0.15 for two years.

Under the terms of the agreement, Canada Nickel retains a back-in right to reacquire a 25% interest in Lucas Gold if specific expenditure or timeline triggers are met. These triggers require $5 million in expenditures within 36 months.

Additionally, Noble Mineral Exploration Inc. has acquired a 100% interest in mining claims in Lucas Township, which falls within the Crawford Nickel Project footprint. The acquisition was made for 60,000 common shares subject to a four-month hold, plus a 1.5% Net Smelter Return (NSR) royalty. Noble holds a 50% NSR buydown option for $500,000.

The transaction remains subject to a definitive agreement, legal requirements, and approval from the TSX Venture Exchange. Canada Nickel’s CEO described the move as a strategy to generate value from a non-core property.

Noble Mineral Exploration Inc. (NOB) announced a strategic property acquisition that aligns with its historical pattern of staking and consolidation, following previous acquisitions such as Mehmet, Gull Lake, and Chapiteau in late 2025. The transaction requires no immediate cash outlay, consisting instead of $300,000 in equity consideration, a nominal share issuance, and an NSR royalty.

The deal results in the issuance of 5.06 million new shares and warrants, representing approximately 2.0% dilution to the company’s current share count of roughly 254.9 million. This structure allows Noble to expand its critical mineral footprint without straining its limited cash reserves. The agreement includes a back-in right that provides future upside for Canada Nickel but does not materially impact Noble’s near-term operations or balance sheet.

Viewed in the context of prior news, including the March 2026 $1.05 million private placement, the May 2026 Homeland distribution, and ongoing drilling at Timmins and REE sites, this acquisition represents a routine portfolio expansion rather than a transformative event.

Noble Mineral Exploration Inc. is a pre-revenue mineral exploration company focused on critical minerals, including rare earth elements (REE), nickel (Ni), copper (Cu), gold (Au), uranium (U), and graphite. The company holds approximately 70,000 hectares in Northern Ontario and roughly 24,000 hectares in Quebec.

Its portfolio includes the Mann Central project, a joint venture with Canada Nickel that has seen an initial resource estimate announced, and the Crawford area, which is strategically located near Canada Nickel’s advanced project. Additional targets include the Mehmet and Gull Lake REE prospects in Quebec, the Chapiteau REE project in Labrador, and the Cere-Villebon Ni-Cu-PGE property.

Exploration activities range from early to advanced stages, though no NI 43-101 mineral resources have been defined to date. Technical work is verified by independent Qualified Persons Wayne Holmstead P.Geo and Mike Kilbourne P.Geo. The company’s corporate strategy involves aggressive land staking, joint venture partnerships, and strategic portfolio holdings to fund exploration through equity markets and asset dispositions.