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., marking a strategic expansion of its Northern Ontario landholdings. The property is contiguous to Gowest Gold Ltd.'s Bradshaw Gold Property, which hosts the Frankfield East Deposit, a known gold resource in the Abitibi Greenstone Belt.
The acquisition consideration 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 retaining the right to buy back one-third of the royalty (0.5%) for $500,000. The transaction is subject to board approval and TSX Venture Exchange clearance.
The North Bradshaw Property lies within the Abitibi Greenstone Belt, one of Canada's premier Archean gold-producing districts. Geological similarities to the adjacent Gowest Bradshaw deposit suggest the potential for significant gold mineralization. The Gowest deposit is hosted in mafic and ultramafic volcanic rocks with strongly altered shear zones, where gold occurs in a broad, altered, and brecciated structural zone rather than a narrow quartz vein. Higher-grade gold is concentrated along the margins of the main shear zone, associated with disseminated pyrite, fine free gold, quartz-carbonate alteration, and silica flooding.
Noble's CEO, H. Vance White, commented, "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."
In a separate announcement, Noble provided final information on its recently completed plan of arrangement, which took effect on May 27, 2026. Under the arrangement, shareholders exchanged each Old Noble Share for one New Noble 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 per Old Noble Share. The fair market value of each Homeland Share was set at $0.39, based on the closing price on May 26, 2026, and the distribution is treated as a return of capital.
This acquisition aligns with Noble's strategy to expand its exploration portfolio in Ontario's prolific gold camps. The company holds mineral rights in approximately 70,000 hectares in Northern Ontario and additional properties in Quebec and Newfoundland. The North Bradshaw Property adds to Noble's existing ground in the Timmins-Cochrane area, which includes the Project 81 land package hosting diversified drill-ready gold, nickel-cobalt, and base metal targets.
The technical content of this release has been reviewed and approved by Wayne Holmstead, P.Geo., an independent Qualified Person under National Instrument 43-101. Detailed information about the Gowest Bradshaw pre-feasibility study is available on Gowest Gold's website at www.gowestgold.com. More information about Noble can be found at www.noblemineralexploration.com.
Forward-looking statements in this release are based on assumptions and involve risks and uncertainties, including metal prices, exploration results, and regulatory approvals. Readers should not place undue reliance on forward-looking information, as actual results may differ materially.
