Noble Mineral Exploration Inc. Announces a Private Placement of Shares and Mobilization of Lucas Gold Target Drill Program
16.04.2012 | Marketwire
TORONTO -- (Marketwire - Apr 16, 2012) - Noble Mineral Exploration Inc. (the "Company") (TSX VENTURE: NOB) (FRANKFURT: NB7) (PINKSHEETS: NLPXF) is pleased to announce that it has engaged IBK Capital Corp ("IBK") to complete on a best efforts basis a brokered private placement of up to 20,000,000 common shares at a price of $0.10 per share for gross proceeds of up to $2,000,000. No warrants will be issued in connection with this placement. IBK will be paid a cash commission of 7% and broker warrants equal to 10% of the shares placed. Each broker warrant allows the holder to acquire one common share of the Company at a price of $0.10 per share for 24 months after the closing date.The placement is subject to the approval of the TSX Venture Exchange. All securities issued in connection with this placement will be subject to a four-month hold period from the closing date.
Proceeds will be used to add to its working capital position and to mobilize a drill program on its Lucas gold target on which historic (non NI 43-101 compliant) results have been released on December 1st and 5th, 2011.
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 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