Noble Minerals Update on Exploration Projects in Ontario and Quebec

Toronto, Ontario – January 17, 2023 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) is pleased to report on several active exploration projects in Ontario and Quebec.

Highlights

• Additional sampling of the core in Nagagami Project hole NG-22-02 has identified a 61.0 metre* long mineralized zone that has an average grade of 0.554% Total Rare Earth Oxide (TREO) and 0.098% Nd3 (includes both new and December 5, 2022, results); 
• Numerous exploration targets have been identified on Boulder Project near Hearst, Ontario. A total of 88 additional mining claim cells have been acquired to bring the total to 147 (single cell and multicell) claims;  
• Application has been made to the Quebec Government for a drill program on the Cere Villebon project; 
• A line-cutting and geophysical program is in progress on the Kidd Project in preparation for diamond drilling; 
• Isabelle Robillard has been commissioned to update a 43-101 report on the Buckingham Graphite Project; 
• A property has been acquired in Newfoundland from a local prospector. The property covers the northern extension of the Spruce Ridge Property where recent drilling intersected 51.00 metres averaging 1.69 grams of gold per tonne (g/t Au) in hole SP21-01, 15.00 metres of 2.36 g/t Au (including 4.00 metres of 5.29 g/t Au) in SP21-03, 21.20 metres of 1.75 g/t Au in SP21-08, 17.60 metres of 1.34 g/t Au in SP21-11 and 21.00 metres of 2.06 g/t Au in SP21-14. 

Nagagami Project

Newly obtained analytical results from Hole NG-22-02 on the Company’s Nagagami Property near Hearst, Ontario (see Figure 1),  filled gaps between and around the 4.0 and 10.0 metre* long intercepts (reported December 5, 2022), such that a 61.0 metre*-long mineralized intercept is now recognized in the core. The 61.0 metre* long mineralized intercept contains an average of 0.554% Total Rare Earth Oxide (TREO) and 0.098% Nd2O3. The 61.0 metre* zone includes a 17.0 metre* long zone that has average TREO and Nd2O3 grades of 0.665% and  0.118%, respectively. These grades are 20% higher than those of the 61.0 metre* intercept.

• 61.0 metre* intercept (between 373 and 434m) contains 0.554% Total Rare Earth Oxides and 0.098% Nd 
• Above intercept includes 17.0 metres* (between 380 and 397m) containing 0.665% TREO and 0.118% Nd 
• Two smaller intercepts containing 0.573 % TREO and 0.105% Nd over 4.0 metres* (between 528 and 532m) and 0.605 % TREO and 0.119% Nd over 7.0 metres (between 538 and 545m), were also discovered. 
• A slightly longer mineralized intercept also contains 0.24% Ce over 89.0 metres* (345 to 434m). 

For comparison purposes, the average Dy2O3, Nd2O3, Pr2O3, and Tb2O3 content of the 61.0 metre intercept is equivalent to 5.2 g/t of gold (comparison made using US$ REE + Gold prices reported by Kitco.com at 4 pm on January 13, 2022).

Additional work being undertaken on the Nagagami project would include; preparation for geophysical surveys to identify the distribution of rock units in the core of the carbonatite complex; studying the area around the property to identify a possible location for a new road to facilitate mobilizing a diamond drill onto the property via ground rather than using a helicopter; meetings with communities near Hearst to share Noble’s planned exploration program; and lithogeochemical and mineralogical studies to characterize the wallrocks hosting the mineralized zone(s) and identify the TREO-bearing minerals..

Total Rare Earth Oxides = Ce2O3+Dy2O3+Er2O3+Eu2O3+Gd2O3+Ho2O3+La2O3+Lu2O3+Nd2O3+Pr2O3+Sc2O3+Sm2O3 +Tb2O3+Tm2O3+Yb2O3+Y2O3  

*true width not known at this time

For a video on the Nagagami drill project, please see:

Figure 1: Location of Noble Minerals Drill Holes in the Nagagami Complex

Boulder Project

Noble Minerals has identified several exploration targets using the recently completed magnetic and electromagnetic airborne survey. Some targets were located on property adjacent to the existing Boulder Project property.  Noble acquired 88 additional mining claims to cover geophysical anomalies near the existing land package (see Figure 2 below).

The next steps being taken to prepare for exploration on the Noble Minerals’ Boulder Project property will include;

• submitting an exploration permit application to the Ontario Mining Lands Administration System (MLAS) for the planned diamond drilling program;  
• organizing a prospecting program to explore for outcrop/boulders that could explain the geophysical targets;  
• follow up talks with surface rights owners above Noble’s mining claims to arrange access for drill rigs to the exploration targets located on or near their properties;  
• and meetings in the communities near Hearst to open dialogue on the project. 

Figure 2: Boulder Project Claim Boundary with Magnetics and EM picks

Buckingham Graphite

Isabelle Robillard MSc. P. Geo has been commissioned to update a 43-101 report on the Buckingham Graphite Project. Ms. Robillard was responsible for the planning, execution and monitoring of the drilling programs conducted in 2016 for Ashburton Ventures. The author has also supervised the splitting and sampling of the core material for Ashburton.

Cere Villebon

Application has been made to the Quebec Government for a Spring 2023 drill program on the Cere Villebon project.

Drilling and resource estimates done by the Groupe La Fosse Platinum Inc on the North Zone in 1987 (see Figure 3) evaluated a historical resource of 421,840 tonnes grading 0.52% copper, 0.72 % nickel and 1.08 g/t combined platinum-palladium (Groupe La Fosse Platinum Inc., 1987 Annual Report).

This estimate is historical in nature, non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and therefore should not be relied upon. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources, and these estimates should only be considered as an indication of the mineral potential of the Property.

Figure 3: Cere Villebon North Mineralized Zone

Newfoundland Project

A property has been acquired in Newfoundland from a local prospector. The property covers the northern extension of the Spruce Ridge Property (see Figure 4) where recent drilling intersected 51.00 metres averaging 1.69 grams of gold per tonne (g/t Au) in hole SP21-01, 15.00 metres of 2.36 g/t Au (including 4.00 metres of 5.29 g/t Au) in SP21-03, 21.20 metres of 1.75 g/t Au in SP21-08, 17.60 metres of 1.34 g/t Au in SP21-11 and 21.00 metres of 2.06 g/t Au in SP21-14

Figure 4: Newfoundland new Property in relation to Spruce Ridge Drilling and Property

Qualified Person

Michael Newbury PEng (ON), a “qualified person” as such term is defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland.  Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~6,000 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre  Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec.  More detailed information is available on the website at:

https://www.noblemineralexploration.com/

Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.

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: ir@noblemineralexploration.com