Mr. Vance White reports

NOBLE MINERAL EXPLORATION TO ACQUIRE LUCAS GOLD PROJECT FROM CANADA NICKEL COMPANY

Noble Mineral Exploration Inc. has entered into a purchase agreement to acquire the Lucas gold project from Canada Nickel Company Inc. (CNC). Noble has previously announced the entering into a letter of intent with CNC in its news release issued on July 13, 2026.

Transaction structure

• Noble will issue five million units in the capital of Noble, with the units being valued at six cents per unit. Each unit will consist of one common share and one-half non-transferable common share purchase warrant. One common share purchase warrant will be exercisable allows at 15 cents per share for a period of two years.
• CNC will be granted the right (the back-in right) to purchase from Noble a 25-per-cent interest in the property, at any time beginning on the trigger date (as defined below), by making a payment to Noble equal to four times the expenditures incurred by Noble for the exploration and maintenance of the property (including any costs of geological, scientific and other analyses and reports). The trigger date will be the date that is the earlier of: (1) 36 months from the closing of the transaction; (2) the date when at least $5-million of exploration expenditures have been incurred on or with respect to the property (including any adjacent properties); and (3) the date when Noble enters into a binding agreement for the sale of the property, or the date when a change of control occurs with respect to Noble unless the back-in right is not affected by such transaction.

The transactions under the purchase agreement remain subject to compliance with legal requirements and any requirements of the TSX Venture Exchange. As such, Noble and CNC will announce further details as work on the transaction proceeds.

Vance White, president and chief executive officer of Noble, said: "We are very pleased to be proceeding with the repurchase of an excellent gold prospect on which we know from past work carried out by Noble of an existing gold zone but also a number of untested parallel zones. We believe this to be a very valuable asset to Noble in a space we expect improving forecasted gold price in these uncertain geopolitical times."

About the Lucas gold project

The Lucas Township gold project is a drill-ready project located approximately 30 kilometres north of Timmins, Ont., world famous for greater than 75 million ounces of gold production. It is also located 20 km northeast of the world-class Kidd Creek mine celebrating its 58th year of continuous production consisting of greater than 150 million tonnes of ore. In addition, it is also located about 20 km east of the Crawford Nickel Resource currently being developed by CNC.

Full industry services, supplies and infrastructure are in place in Timmins with access via paved Highway 655. There is ample access to power and water. Noble also has a MoU (memorandum of understanding) signed with local first nations.

In 2018, Noble completed 15 NQ size diamond drill holes totalling 3,184 metres covering approximately 650 m strike length of the 1,700 m gold mineralized structure/trend identified from 2012 and 2018 airborne electromagnetic and differential magnetic surveys. Noble located 37 historical drill-hole collars in the field and twinned three of these historical drill holes. No further work has been done since 2018.

The Lucas gold project has six discrete IP anomalous trends which require follow-up exploration. Only one trend has been investigated by diamond drilling to date. Gold mineralization in the Lucas gold deposit is interpreted to be structurally controlled and occur as discrete lenses stacked within the pyrite plus gold mineralized tuffaceous unit.

As mentioned previously the Lucas gold project is drill ready with a first nation MoU in place. Future work would include drilling on the initial IP anomaly to further define the gold mineralization. In addition, testing the other five, undrilled, IP anomalies to test for gold mineralization similar to the initial IP anomaly.

Table 1: Gold intersections in a Noble, 2018 diamond drill program (true width not known at this time).

Qualified persons and data verification

Stephen J. Balch, PGeo (ON), vice-president, exploration, of CNC and a qualified person as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company.

Wayne Holmstead PGeo (ON), a qualified person as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company, Homeland Nickel Inc., East Timmins Nickel Inc. (20 per cent) and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont.

Noble holds mineral and/or exploration rights in approximately 67,000 hectares in Northern Ontario and approximately 12,000 ha elsewhere in Quebec and Newfoundland, upon which it plans to generate option/joint venture exploration programs.

Noble holds mineral rights and/or exploration rights in approximately 18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, approximately 2,231 hectares in Thomas Twp/Timmins, as well as an additional 20-per-cent interest in approximately 38,700 hectares in the Timmins area, approximately 317 hectares in the Holdsworth gold property near Wawa, Northern Ontario, approximately 4,619 hectares in the Nagagami Carbonatite complex and approximately 210 hectares in the Boulder project both near Hearst, Ont. In Quebec, Noble holds approximately 721 hectares in the Buckingham graphite property, approximately 325 hectares in the Havre St. Pierre nickel, copper, PGM (platinum group metals) property, and approximately 1,573 hectares in the Cere-Villebon nickel, copper, PGM property, approximately 569-hectare uranium/rare-earth property (Chateau) and an approximately 461-hectare uranium/molybdenum property (Taser North), approximately 4,473 hectares REE Mehmet property; the approximately 3,300-hectare Gull Lake REE property; and the approximately 1,232 hectare Opawica scandium and REE property, all of which are in the province of Quebec. In Newfoundland and Labrador, it holds the approximately 647-hectare Chapiteau REE property.

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

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