(via Thenewswire.ca)
Toronto, Ontario - June 3, 2013, Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) is providing an update regarding its efforts to conclude a sale of above ground rights on Block A of its Project 81 property. The Company would retain the mineral rights and a royalty on the development of any carbon credit business.
The Company confirms that it is currently in active discussions with parties who are considering a purchase of surface rights relating to Block A of Noble's Project 81, located in the Timmins area of northern Ontario. The Company has not yet concluded an agreement for such a sale, but it has been engaged in active discussions regarding the terms of a sale. Noble anticipates that any party committing to such a transaction with Noble would nonetheless have to engage in a lengthy due diligence review of Project 81 and of the applicable economic and fiscal conditions, among other things. As yet, the Company is not aware of any prospective buyer having significantly advanced with a due diligence review of this nature. IBK Capital Corp. is acting as financial advisor to Noble on the evaluation of various potential transactions.
In order to provide the Company with the necessary time and capital to complete a transaction of this nature, Noble is currently considering a variety of financing options, which could include debt or equity financings, or other asset sales.
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.
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.
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|Contacts: |. |
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|Noble Mineral Exploration Inc. |
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|H. Vance White, President |
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|Phone: |416-214-2250 |
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|Fax: |416-367-1954 |
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|eMail: |info@noblemineralexploration.com|
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|Investor Relations: |
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|Phone: |416-214-2250 |
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|eMail: |ir@noblemineralexploration.com |
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