Noble Mineral Exploration Inc. to Acquire Lucas Gold Project

TORONTO, Ontario — July 13, 2026 — Leads & Copy — Noble Mineral Exploration Inc. (“Noble” or the “Company”) announced Monday it has entered into a binding Letter of Intent to acquire the Lucas Gold Project from Canada Nickel Company Inc. (“CNC”).

Under the terms of the proposed transaction, Noble will issue 5,000,000 units, valued at $0.06 per unit. Each unit will comprise one common share and one-half of a non-transferable common share purchase warrant. These warrants will be exercisable at $0.15 per share for a period of two years.

CNC will retain the right to reacquire a 25% interest in the property, referred to as the “Back-in Right.” This right can be exercised at any time, starting on the “Trigger Date,” which is defined as the earlier of 36 months from the transaction's closing, the date when at least $5 million in exploration expenditures have been incurred on or with respect to the property (including adjacent properties), or the date Noble enters into a binding agreement for the sale of the property or experiences a change of control, provided such transaction does not affect the Back-in Right.

The transaction is contingent on the negotiation of a definitive agreement and compliance with legal requirements and the TSX Venture Exchange. Further details will be released as the transaction progresses.

Noble’s President and CEO, Vance White, expressed enthusiasm for repurchasing the gold prospect, noting past work by Noble identified an existing gold zone and several untested parallel zones.

The Lucas Township Gold Project is situated approximately 30 km north of Timmins, Ontario, a region renowned for its significant gold production. It is also located 20 km northeast of the Kidd Creek Mine and about 20 km east of CNC’s Crawford Nickel Resource. The project benefits from access to full industry services, supplies, and infrastructure in Timmins, with connectivity via Highway 655. Noble also has a Memorandum of Understanding (MoU) in place with local First Nations.

In 2018, Noble conducted a 15-hole diamond drilling program totaling 3,184 meters, covering approximately 650 meters of the 1,700-meter gold mineralized structure/trend identified by earlier surveys. During this program, Noble located 37 historical drill-hole collars and twinned three of them. No further work has been conducted since 2018.

The Lucas Gold Project features six distinct IP anomalous trends requiring further exploration, with only one having been previously investigated by diamond drilling. Gold mineralization within the Lucas Gold Deposit is believed to be structurally controlled and occurs as discrete lenses within the pyrite and gold mineralized tuffaceous unit.

Future exploration plans include drilling on the initial IP Anomaly to further define the gold mineralization and testing the other five undrilled IP anomalies for similar gold mineralization.

Stephen J. Balch P.Geo. (ON), VP Exploration of CNC, and Wayne Holmstead P.Geo (ON), have reviewed and approved the technical information disclosed in this news release as qualified persons under National Instrument 43-101.

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company with various holdings and interests in mineral properties across Ontario and Quebec, including gold, nickel, cobalt, base metals, graphite, copper, PGM, uranium, rare earth elements, and scandium.

Source: Noble Mineral Exploration Inc.