(TheNewswire)
Toronto, Ontario / TheNewswire / Friday, December
31, 2018 Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces that
there will be a delay in the filing of its audited annual financial statements for the year
ended August 31, 2018 (“Financial Statements”), the related management’s discussion and
analysis of those financial statements (“MD&A”) and related filings, which are due on
December 31, 2018.
As previously announced, the Company has changed auditors, and MNP LLP are now engaged in the audit of the
Company’s Financial Statements. On December 27, 2018, MNP LLP advised the Company of their recommendation that Noble should
restate certain items in its financial statements for the year ended August 31, 2017. The recommended restatements
relate to matters such as the valuation of net proceeds received on disposition of the Company’s Holdsworth
Property. The change is expected to impact accounts receivable, marketable
securities, accumulated other comprehensive income and gain on disposition of exploration assets.
Management of the Company is now working with the Company’s current auditor, and will coordinate with the
former auditor as necessary, to complete those adjustments and have the audit completed. The Company anticipates that the
adjustments and related audit will be complete on or before January 11, 2019 and is working diligently towards that end.
The Company intends to satisfy the provisions of the alternative information guidelines set out in National
Policy 12-203 until the Financial Statements, MD&A and related documents have been filed. Noble
also confirms that apart from the delay with its Financial Statements and MD&A (and related filings), all other information
concerning its affairs have been generally disclosed.
Due to the anticipated delay in filing discussed in this news release, Noble will request that the Ontario
Securities Commission (the “OSC”), its principal regulator, issue a management cease trade
order (“MCTO”) prohibiting trading in securities of Noble by the Chief Executive Officer,
Chief Financial Officer, and, potentially, members of the board of directors of Noble. The MCTO, if granted, is anticipated to be
in place until the default is remedied. Noble acknowledges that the OSC may impose an issuer cease trade order restricting all
trading in the securities of Noble if the MCTO is in place and the default is not remedied by February 28, 2019.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its
shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa,
Ontario, holds in excess of 70,641 hectares of mineral rights in the
Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold and base metal
exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com.
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”. This news release has
been authorized by Robert Suttie, the Company’s Chief Financial Officer, and by its audit committee.
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
Email: ir@noblemineralexploration.com
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