Noble Provides Project 81 Update
TORONTO, ON – Noble Mineral Exploration Inc. (the “Company” or “Noble”) TSXV:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) is pleased to provide an update on its Project 81 which is one of the largest freehold land positions in the province of Ontario if not the country.
Currently the Company retains all rights to the property including mineral surface and timber rights. The Company is in the process of reviewing the option to sever the major Block A (approximately 58,563 hectares or 144,712 acres) into three separate parcels as outlined in the table below and comprised of the various makeup in each parcel. In this scenario, the mineral rights to each parcel would also be severed from the above- ground rights which would include timber, real estate and potential for carbon sequestration. (A map of the parcels has been uploaded to the Company’s website.)
UPDATED TIMBER VALUATION
The company has recently received an updated valuation of the timber on Block A of Project 81 from its Forestry Consultant, Merin Forest Management. A summary of the valuations are set out in the table below with the details of the valuation procedure and species of timber available on the Company’s website.
Comparing this valuation to the valuations obtained by Noble for Block A of Project 81 in 2011, the current value of the Merchantable timber has increased by more than $3.1 million or approximately 39%, The value of the Unmerchantable timber has declined by approximately $600,000 and is directly related to the rates used in 2011 in the Timmins District NPV Matrix for unmerchantable young growth (which are now old and not reflective of today) vs. the rates ($2.42/m3) used in the current valuation.
ABOUT NOBLE MINERAL EXPLORATION INC.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 72,000 hectares of freehold property and staked or acquired mineral claims 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, Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
Randy Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development a “qualified person” as such term defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.
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 forwardlooking statements, whether as a result of new information, future events or otherwise.
