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 transaction is subject to board and TSX Venture Exchange approvals.
The North Bradshaw Property is contiguous to the Gowest Bradshaw Gold Property, historically known as the Frankfield East Deposit, held by GoWest Gold Ltd. A pre-feasibility study completed in 2015 on the Gowest property identified both indicated and inferred gold resources. Both properties lie within the Abitibi Greenstone Belt, one of Canada's premier Archean gold-producing districts. The gold mineralization is hosted in a broad, altered, and brecciated structural zone rather than a narrow quartz vein, with higher-grade gold concentrated along the margins of the main shear zone. Gold occurs 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 has been reviewed by Wayne Holmstead, P.Geo., an independent Qualified Person under NI 43-101.
In addition to the acquisition, Noble provided final information on its recently completed plan of arrangement, which took effect on May 27, 2026. Under the arrangement, each pre-arrangement common share was exchanged 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 Homeland shares per Old Noble share. No fractional shares or cash in lieu will be issued. Noble used Homeland Nickel's closing price of $0.39 per share on May 26, 2026, as the fair market value for the distribution, treating the $0.39 per share as a return of capital. However, Noble disclaims responsibility for individual tax treatments, urging shareholders to seek their own advice.
Noble Mineral Exploration is a Canadian-based junior exploration company with holdings in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc., and the Holdsworth gold exploration property in Wawa, Ontario. It holds mineral rights in approximately 70,000 hectares in Northern Ontario and 14,000 hectares in Quebec and Newfoundland, including the Project 81 area in Timmins-Cochrane with diversified drill-ready gold, nickel-cobalt, and base metal targets. The company also holds interests in various other properties across Quebec and Newfoundland.
