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 holding the right to buy back one-third of the royalty for $500,000.
The property is contiguous to the Gowest Bradshaw Gold Property, historically known as the Frankfield East Deposit, which is held by GoWest Gold Ltd. A pre-feasibility study on that property, amended in September 2015, identified both indicated and inferred gold resources, as detailed on GoWest Gold's website. Both properties lie within the Abitibi Greenstone Belt, one of Canada's premier Archean gold-producing districts. The gold mineralization in the area is hosted in mafic volcanic rocks, ultramafic units, strongly altered shear zones, and local intrusive rocks. Previous exploration indicates the main 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, occurring as disseminated pyrite, fine free gold, quartz-carbonate alteration, silica flooding, and sericite-carbonate alteration.
Noble's CEO, H. Vance White, stated, "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 technical content of this release has been reviewed by Wayne Holmstead, P.Geo., an independent Qualified Person under National Instrument 43-101.
In addition, Noble provided final information on its recently completed plan of arrangement under the Business Corporations Act (Ontario), which took effect on May 27, 2026. Under the arrangement, each pre-arrangement common share of Noble was 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. No fractional shares or cash in lieu were issued. For tax purposes, Noble used Homeland Nickel's closing price of $0.39 per share on May 26, 2026, as the fair market value and treated that amount as a return of capital. The company disclaims responsibility for individual tax treatments and encourages shareholders to seek their own advice.
This acquisition aligns with Noble's strategy of expanding its exploration portfolio in Northern Ontario. Noble holds mineral and/or exploration rights in approximately 70,000 hectares in Northern Ontario and additional properties in Quebec and Newfoundland, including Project 81 in the Timmins-Cochrane area, which hosts diversified drill-ready gold, nickel-cobalt, and base metal targets. The company also holds interests in Canada Nickel Company Inc., Homeland Nickel Inc., and East Timmins Nickel Inc., and continues to advance its Holdsworth gold exploration property near Wawa, Ontario.
The transaction is subject to customary conditions, including board and TSX Venture Exchange approvals. Noble's shares trade on the TSX Venture Exchange under the symbol "NOB" and on the OTCQB under "NLPXF." More information is available at Noble's website.
