Mr. H. Vance White reports

NOBLE GRANTS OPTIONS AND RSUS

Effective as of Aug. 2, 2023, Noble Mineral Exploration Inc.'s board has approved the grant of a total of 2,325,000 stock options and 1.99 million restricted share units to officers, directors and certain consultants of the company. The options were granted for services rendered in previous financial years and to date in the current financial year. Seventy-five thousand of the options were granted to a party which provides investor relations services to the company, and therefore vest in tranches of 25 per cent every three months. The balance of the options vest immediately. The RSUs, which vest one year after the date of grant, were granted for services to be rendered over the next year. The options and RSUs were granted pursuant to the amended and restated 2022 equity incentive plan approved at the company's shareholder meeting on Feb. 22, 2023.

The options have an exercise price of 10 cents per common share of Noble Mineral and are exercisable for three years from the date of grant. Out of the total number of options and RSUs granted, 1.2 million options and 1.1 million RSUs were granted to directors and officers of the company. Upon being fully vested, the RSUs may be settled in the corresponding number of common shares of the company, in the cash equivalent of those shares, or in a combination of shares and cash.

The grant of options and RSUs is subject to compliance with TSX Venture Exchange requirements. Following the grant of options and RSUs, the company has a total of 3.5 million stock options outstanding and 1.99 million RSUs outstanding.

About Noble Mineral Exploration Inc.

Noble Mineral is a Canadian-based junior exploration company, which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont., will continue to hold approximately 25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional approximately 11,000 hectares in the Timmins area and approximately 14,400 hectares of mining claims in central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its approximately 14,600 hectares in the Nagagami carbonatite complex and its approximately 4,600 hectares in the Boulder project both near Hearst, Ont., as well as its approximately 482 hectares in the Cere-Villebon nickel, copper, platinum group metal property, its approximately 3,700 hectares in the Buckingham graphite property, its approximately 10,152 hectares in the Havre St. Pierre nickel, copper, PGM property and its approximately 518 hectares in the Laverlochere nickel, copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the company's website.

Noble Mineral's common shares trade on the TSX Venture Exchange under the symbol NOB.

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