Toronto, Ontario - April 11, 2012, Noble Mineral Exploration Inc. (the
"Company", "Noble" or "NOB") (TSX-V:
NOB, FRANKFURT: NB7, OTC.PK: NLPXF) today announced that Franco-Nevada
debenture from the Company in the principal amount of $1,500,000 (the
"Debenture"), the proceeds of which have been used to repay
a $1,500,000 promissory note. The promissory note matured on April
10, 2012 and was payable to AbiBow Canada Inc. The principal amount
of the Debenture is secured by a mortgage over the Company's Project
81, is convertible into common shares of the Company at a price of
$0.20 per share, and bears interest at 5% per annum (payable on April
11th of each year until maturity on October 6, 2014). The Debenture
is in addition to the three-year debenture previously issued to
Franco-Nevada Corporation on October 6, 2011 having a principal amount
The promissory note corresponded to the second of three payments due
to AbiBow Canada Inc. in connection with the previously announced
acquisition of the Company's Project 81. A third and final payment of
$1,500,000 which is due on October 9, 2012 remains payable to AbiBow
Canada Inc. on this property.
About Project 81:
Project 81, the Company's flagship project, is a 72,218 hectare
patented and staked land package divided into 2 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 1960's and 1970's, which have been confirmed by recent assay
results from the current, ongoing drill program.
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 and drilling for
Vanadium, Nickel, Copper, Chromium and PGM in the 'Ring of Fire'
McFauld's Lake Area of Northern Ontario, Gold in the Wawa area of
Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at
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.
Noble Mineral Exploration Inc.
H. Vance White, President
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