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Noble Mineral Exploration Inc (2)
Symbol NOB
Shares Issued 96,207,529
Close 2018-06-20 C$ 0.095
Market Cap C$ 9,139,715
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Noble Mineral comments on investee MacDonald's update

2018-06-20 09:15 ET - News Release

Mr. Vance White reports

NOBLE REPORTS ON MACDONALD MINES EXPLORATION UPDATE ON THE WAWA-HOLDSWORTH PROJECT

Noble Mineral Exploration Inc. has commented on MacDonald Mines Exploration Ltd.'s exploration updates on the Wawa-Holdsworth project as reported in news releases of May 29, 2018, and June 6, 2018.

MacDonald reported that it will complete a bulk sample of the oxide sands this summer in preparation for negotiating an offtake agreement for the extraction of the precious-metals-bearing sands at its Wawa-Holdsworth project.

MacDonald also reported that a National Instrument 43-101 resource estimate of the oxide sands, currently being undertaken by Golder Associates, will provide MacDonald with an estimate of the quantity of material available for the bulk sample, whereas the bulk sample will quantify the precious metal content and metallurgy in the oxide sand deposit.

MacDonald Mines will also trench and surface map the main gold prospects on the Wawa-Holdsworth property this summer. The Reed-Booth and the Golden Goose showings, located in the southern end of the property, are prospective targets for gold mineralization. A channel sample taken in the 1930s at the Reed-Booth showing contained 23.6 grams per tonne gold over three metres (OFR5798); while grab samples* taken by the Ontario Geological Survey in the waste rock of the vein system contained to 124.49 g/t gold and 33.86 g/t silver (OFR5798). The mechanized trenching and mapping will define the geometry, size and grade distribution of the targeted structures and validate the historic assays reported for the Reed-Booth showing.

The bulk sample will be collected in an area defined by the Golder Associates resource calculation. Sonic drilling highlights from the area are shown in the associated table.

Hole No.         From      To     Length         Au       Ag      AuEq  
                   (m)     (m)        (m)      (g/t)    (g/t)     (g/t)

HW-17-003           0    3.23       3.23       7.46     36.2       7.9
including        0.84    1.69       0.85       16.3     73.1     17.21
HW-17-017           0    3.96       3.96       3.83     23.7      4.13
including        1.43    3.96       2.53       5.36     32.1      5.76
HW-17-023           0    3.66       3.66       4.24     33.0      4.65
including        1.22    3.05       1.83       4.81     29.3      5.18
HW-17-027           0    5.33       5.33       3.55     62.6      4.33
including        0.46    4.95       4.49       4.14     73.3      5.06
HW-17-029           0    7.62       7.62       2.46     13.4      2.63
including        3.05    6.48       3.43       5.18     27.2      5.52
HW-17-030           0    5.49       5.49       3.95     32.0      4.35
including        0.15    3.66       3.51       5.45     42.6      5.98
HW-17-031           0    4.57       4.57       4.70     46.3      5.28

* Gold-equivalent calculated using spot price of $1,312 (U.S.)/ounce for gold and $16.41 (U.S.)/ounce for silver taken at market closure on May 7, 2018. AuEq equals (grade Au) plus ((grade Ag) divided by (gold price divided by silver price)) (ratio rounded to 80). Drilling intersections reported as intersection lengths are estimated to represent greater-than-95-per-cent true width of the precious-metal-rich layer of the soil formation.

MacDonald Mines also reported that the company is teaming up with Northern Sun Mining Corp. and its plant in Timmins, Ont., to develop a process that will maximize precious metal recoveries from the Wawa-Holdsworth oxide sands deposit.

The companies are concentrating their efforts on (1) optimizing precious metal grades in the sands prior to shipping, (2) managing the moisture content of the sands being shipped and processed, (3) meeting and improving the metallurgical efficiencies that were achieved in preliminary lab testing through the processing of a bulk sample this summer.

Quentin Yarie, PGeo, is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release for MacDonald Mines.

Vance White, Noble's president and chief executive officer, commented: "As Noble is a significant shareholder in MacDonald we are pleased to see the advance of the Oxide sand zone on which Noble retains a potential gold streaming revenue stream and an ongoing NSR over the entire project area. Noble will continue to focus on its about 70,000-hectare Project 81, where its option and JV partners are preparing for summer exploration activities."

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration is a mineral exploration company headquartered in Toronto, Ont., focused on gold exploration in Canada. The company has built a portfolio of safe jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The company is aggressively advancing its highly prospective Wawa-Holdsworth gold project.

Wawa-Holdsworth project highlights:

  • Approximately 285 hectares, 20 kilometres northeast of the town of Wawa;
  • Neighbouring Argonaut's greater-than-six-million-ounce gold Magino deposit and Richmont's greater-than-one-million-ounce gold Island Gold mine;
  • Numerous gold showings with diversified mineralization styles occurring in a 500-metre-wide deformation corridor;
  • Lode Gold in traditional quartz veins, known as the Soocana vein;
  • An oxidized cap at surface developed over a massive pyrite zone (Algoma iron formation) known as the oxide sands;
  • The precursor to the oxide sands -- a massive pyrite zone (Algoma iron formation) at depths, known as the massive sulphide;
  • Year-long road access and easy access to rail, road, electrical power, labour force and suppliers;
  • Fee simple absolute ownership of both surface and mineral rights property-wide facilitates the early and advanced exploration process and timelines.

The company's common shares trade on the TSX Venture Exchange under the symbol BMK.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company, which, apart from its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Wawa-Holdsworth gold exploration property in Wawa, Ont., has as its flagship program Project 81, a contiguous land package of approximately 70,000 hectares covering 12 townships immediately north of the Kidd Creek mine (celebrating its 51st year of operation). Project 81 has seen very limited mineral exploration over the last 50 years and has had a number of historical drill indicated gold, copper, lead-zinc, silver and nickel showings. Noble confirmed the discovery of a very large, low-grade nickel-cobalt deposit in the Kingsmill township in 2012, which is within the project area. The Lucas gold showing was also drill tested by Noble in 2012 with additional follow-up drilling to be carried out during the 2018 winter exploration season.

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