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 property is contiguous to the Gowest Bradshaw Gold Property, historically known as the Frankfield East Deposit, which is held by GoWest Gold Ltd. The acquisition price includes $73,000 in cash payable over three years and the issuance of 600,000 common shares of Noble. Additionally, the vendors will receive a 1.5% net smelter returns royalty, with Noble holding the right to buy back one-third of the royalty (0.5%) for $500,000.
The North Bradshaw Property lies within the Abitibi Greenstone Belt, one of Canada's premier Archean gold-producing districts. The Gowest Bradshaw Gold Property, which has a pre-feasibility study completed in 2015, is hosted in mafic volcanic rocks, ultramafic units, strongly altered shear zones, and local intrusive rocks. Gold mineralization occurs in a broad, altered, and brecciated structural zone rather than a narrow quartz vein. Previous exploration identified the principal orebody as following the contact between hanging-wall basalt and footwall ultramafic rocks, consisting of a thick tabular body with excellent continuity. Higher-grade gold is concentrated along the margins of the main shear zone, with gold 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 the release has been reviewed by Wayne Holmstead, P.Geo., an independent Qualified Person as per National Instrument 43-101.
In addition to the acquisition, 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, pre-arrangement common shares of Noble were 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 per Old Noble Share. No fractional shares or cash in lieu were issued, with the number of Homeland Shares rounded down to the nearest whole share. The company used Homeland Nickel Inc.'s closing price of $0.39 per share on May 26, 2026, as the fair market value for the distribution, treating $0.39 per Homeland Share as a return of capital to shareholders. Noble disclaims responsibility for the tax treatment adopted by shareholders and encourages them to seek independent advice.
This acquisition strategically positions Noble in a prolific gold district, potentially enhancing its exploration portfolio and offering significant upside for shareholders. The proximity to the Gowest Bradshaw Gold Property, which has established gold resources, suggests that the North Bradshaw Property could host similar mineralization, making it a valuable addition to Noble's holdings. For industry observers, this move underscores the continued interest in the Abitibi Greenstone Belt, a region known for its rich gold deposits and ongoing exploration success. The transaction also highlights Noble's commitment to expanding its mineral rights in Ontario, complementing its existing projects such as Project 81 and the Holdsworth gold exploration property.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company with holdings in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc., and interests in various exploration properties across Ontario, Quebec, and Newfoundland. The company's common shares trade on the TSX Venture Exchange under the symbol "NOB." More information is available at www.noblemineralexploration.com.
