(via Thenewswire.ca)
Toronto, Ontario - March 6, 2013, Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) is pleased to announce the results of its annual and special meeting of shareholders held on February 28, 2013.
H. Vance White, Gordon McKinnon, J. Birks Bovaird, and Michael Newbury were re-elected to the Company's Board of Directors (the "Board"). Richard Nemis, who did not stand for re-election, was thanked for his service to the Company and will remain a consultant to the Company.
Two new directors, Edward Godin and Paul Millar, were elected to the Board. Mr. Godin is the President of Continental Precious Minerals Inc. and is involved with several other exploration-stage companies. Mr. Millar is the President of York London Holdings Limited (a real estate development company) and is a director of Richmond Minerals Inc. and Superior Copper Corporation.
The Company's shareholders:
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1.authorized, by way of special resolution, the Board to fix the number of directors within the range provided in the Company's constating documents;
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2.approved the issuance of shares to settle certain debts owed, or to be owed, to insiders for management fees;
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3.re-appointed McCarney Greenwood LLP as the Company's auditor; and
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4.re-approved the Company's stock option plan.
Over the course of the meeting, shareholders were updated on the efforts being pursued to monetize the value of Project 81 in order to provide a liquidity event for the Company and its shareholders. Management and its advisors confirmed that these efforts might have to involve a transaction that would recognize the value of Project 81 as a carbon offset project, as a timber reserve and as a sizeable holding of undeveloped real estate, in addition to its value from a mineral resource perspective.
At a Board meeting held after the shareholders' meeting, the Board re-elected the following as the officers of the Company for the ensuing year, all of whom previously served as officers of the Company: H. Vance White (President & CEO), Gaetan Chabot (Chief Financial Officer), Randy Singh (Vice President of Exploration and Project Development), and Denis Frawley (Secretary). The Board elected J. Birks Bovaird, Edward Godin and Michael Newbury to serve as the Company's Audit Committee. The Board elected J. Birks Bovaird, Paul Millar and Michael Newbury to serve as the Company's Nominating, Compensation and Governance Committee.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 72,000 hectares of property in the Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at www.noblemineralexploration.com
About Project 81:
Project 81 is a 100% privately owned 58,620 hectares (144,853 acres) forested land package and this land package is one of the largest freehold land packages in the province if not the country to which all rights (surface, mineral and timber) have been retained by the company. In addition the Company holds 846 staked mineral claims covering approximately 13,536 hectares (33,448 acres).
Project 81 is located within the Northern Ontario Boreal Biome. Globally, the boreal biome is the world's largest and most important forest carbon storehouse holding almost twice as much carbon per unit area as tropical rain forests. Canada's boreal forest stores about 71.4 billion tonnes of carbon in its forest ecosystems and 136.7 billion tonnes in its peatland ecosystems.
Project 81 is the Company's flagship project of patented and staked land package divided into two blocks. The patents include surface, mineral and timber rights, and host a significant timber resource plus a number of zones that have historical exploration identifying nickel and gold mineralization (these sample results are historical and non 43-101 compliant) from work carried out in the 1960s and 1970s, which have been confirmed by recent assay results from the current, ongoing drill program.
Cautionary Statement:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email:info@noblemineralexploration.com
Investor Relations
Phone: 416-214-2250
Email: ir@noblemineralexploration.com
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