Mr. Nabil Kassam reports

NOBLE IRON ANNOUNCES ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Noble Iron Inc. has called an annual and special meeting of shareholders to be held on July 12, 2023. The record date for determining shareholders entitled to receive notice of and vote at the meeting has been set as May 16, 2023. At the meeting, in addition to general business such as the election of directors and the appointment of auditor, shareholders will be asked to approve a special resolution authorizing the voluntary liquidation and dissolution of Noble Iron (the winding up), which proceedings are expected to include the distribution of cash to shareholders in one or more instalments as part of the winding up. The shareholders will also be asked to approve the delisting of its common shares from the TSX Venture Exchange and the application to the Ontario Securities Commission and other applicable securities regulators to cease being a reporting issuer, both in due course, as part of the winding up. In all cases, the winding up and related resolutions will grant to the board of directors of the company the discretion to discontinue the winding up and related matters if the board determines it is in the best interests of the company to do so.

Noble Iron anticipates that an initial distribution of approximately 30 cents per share will be made as promptly as practicable following the approval of the shareholders of the winding up, by way of a return of capital. Any further distribution of cash, if any, will be made in one or more instalments following the satisfaction of all outstanding liabilities, including expenses of the winding up, and an assessment of available funds, if any, on a distribution date to be determined pursuant to the plan of liquidation and dissolution. Important information about the meeting, the winding up and the anticipated distribution can be found in the management information circular that is being mailed to shareholders and posted to SEDAR under the company's profile.

The winding up, the distribution and related matters are subject to the receipt of all required consents and approvals, including the approval of the shareholders, the securities regulators and the TSX-V, and compliance with all applicable corporate and other laws. The winding up will proceed subject to the receipt of corporate, securities and tax laws advice. There can be no assurances any capital will be distributed to the shareholders by the company. If a distribution of capital is implemented, there may be tax or other implications for shareholders. Shareholders are encouraged to consult their tax and legal advisers to determine the implications of the winding up and the distribution to them.

We seek Safe Harbor.