Noble Mineral Exploration Inc. has entered into a purchase agreement to acquire the Lucas Gold Project from Canada Nickel Company Inc., advancing a transaction previously outlined under a July 2026 letter of intent.

Under the transaction terms, Noble will issue 5,000,000 units valued at $0.06 per unit. Each unit comprises one common share and one-half of a non-transferable common share purchase warrant, with each full warrant exercisable at $0.15 per share for a two-year period. Canada Nickel retains a back-in right to repurchase a 25% interest in the property by paying four times Noble's exploration and maintenance expenditures. This right can be triggered earlier under specific conditions, including 36 months from closing, $5 million in exploration expenditures, or a change of control or binding sale agreement involving Noble.

The drill-ready project is located approximately 30 km north of Timmins, Ontario, and 20 km northeast of the Kidd Creek Mine. Historical work by Noble in 2018 included 15 diamond drill holes totaling 3,184 metres over a 650-metre strike length of a 1,700-metre gold-mineralized structure. The property contains six discrete induced polarization anomalous trends, with only one investigated by drilling to date.

"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," said Vance White, President and CEO of Noble.

Completion of the acquisition remains subject to legal requirements and TSX Venture Exchange approval. Noble plans to conduct future drilling on the initial anomaly while testing the remaining five undrilled targets.

Read the full announcement: Noble Mineral Exploration to Acquire Lucas Gold Project from Canada Nickel Company