Noble Provides Update on Conditional Sale of Surface Rights to Block A of Project 81
23 January 2014 - 12:30AM
Access Wire
Toronto, Ontario - January 22, 2014, Noble
Mineral Exploration Inc. (the
"Company", "Noble"
or "NOB")
(TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces
that it has agreed to extend the deadline for the completion of due
diligence by the US private equity firm (the "Purchaser") with which
Noble has signed an agreement for the sale of the surface rights
and timber rights to Block A of the Company's Project 81
(approximately 145,000 acres, or 58,000 hectares), located in the
Timmins area of northern Ontario.
As disclosed by Noble
in its press release of October 24, 2013, the Company has signed a
purchase and sale agreement for the sale of those surface and
timber rights. The agreement provided the Purchaser with a due
diligence deadline that would have expired on Monday, January 20,
2014. Noble and the Purchaser have now agreed to extend the
deadline for the completion of due diligence to Monday, January 27,
2014.
The sale would be
subject to the approval of the TSX Venture Exchange. IBK Capital
Corp. is acting as financial advisor to Noble on this
transaction.
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.
Contacts:
Noble Mineral Exploration Inc.
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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