TORONTO, July 13, 2026 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce it has entered into a Binding Letter of Intent with Noble Mineral Exploration Inc. ("Noble") (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) signed on July 13, 2026 to sell the Lucas Gold Project to Noble and has acquired property within the Crawford Nickel Project overall footprint.
Mark Selby, CEO of Canada Nickel said, "We are pleased to position the Company to generate value from a non-core property with Noble Mineral Exploration and wish them well with their exploration activities."
Lucas Transaction Structure
- Noble will issue 5,000,000 units in the capital of Noble (the "Units"), with the Units being valued at $0.06 per Unit. Each Unit will consist of one Common Share and one half non-transferable Common Share Purchase Warrant. One Common Share Purchase Warrant will be exercisable allows at $0.15 per share for a period of two (2) years;
- Canada Nickel will be granted the right (the "Back-in Right") to purchase from Noble a 25% interest in the Property, at any time beginning on the Trigger Date (as defined below), by making a payment to Noble equal to four (4) times the expenditures incurred by Noble for the exploration and maintenance of the Property (including any costs of geological, scientific and other analyses and reports) ("Exploration Expenditures"). The "Trigger Date" will be the date that is the earlier of: (1) 36 months from the closing of the transaction; (2) the date when at least $5 Million of Exploration Expenditures have been incurred on or with respect to the Property (including any adjacent properties); and (3) the date when Noble enters into a binding agreement for the sale of the Property, or the date when a change of control occurs with respect to Noble, unless the Back-in Right is not affected by such transaction.
The transactions under the letter of intent remain subject to the parties negotiating a definitive agreement, as well as to compliance with legal requirements and any requirements of the TSX Venture Exchange. As such, Canada Nickel and Noble will announce further details as work on the transaction proceeds.
Other Property Acquisitions
Canada Nickel has acquired a 100% interest in a set of mining claims in Lucas Township and are within the Company's proposed Crawford project overall footprint. The purchase includes the issuance of 60,000 Canada Nickel common shares (subject to a 4 month hold) and a Net Smelter Return (NSR) of 1.5%, 50% of which can be bought down for $500,000 (thus reducing the NSR to 0.75%).
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "Qualified Person" as such term is 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 Canada Nickel Company Inc.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company, which has holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario.
Noble holds mineral and/or exploration rights in ~70,000ha in Northern Ontario and ~25,000 ha elsewhere in Quebec upon which it plans to generate option/joint venture exploration programs. Among those are included Noble 's mineral rights and/or exploration rights in 18,000 hectares in the Timmins-Cochrane areas of Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, and an additional 20% interest in ~38,700 hectares in the Timmins area held by ETN. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble's holdings in Ontario also include: ~4,600 hectares in the Nagagami Carbonatite Complex; and ~3,200 hectares in the Boulder Project; both near Hearst, Ontario. In Quebec, it holds: ~3,700 hectares in the Buckingham Graphite Property; ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property; ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property; ~569 hectare Uranium/Rare Earth property (Chateau); ~461 hectare Uranium/Molybdenum property (Taser North); ~4,465 hectares REE Mehmet Property; the ~3,300 hectare Gull Lake REE Property; and the ~1,232 hectare Opawica Scandium and REE Property. In Newfoundland and Labrador, it holds the~ 647 hectare Chapiteau REE property.
https://www.noblemineralexploration.com Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel , NetZero Cobalt , NetZero Iron and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane nickel district. For more information, please visit www.canadanickel.com.
For further information, please contact:
Mark Selby CEO
Phone: 647-256-1954
Email: info@canadanickel.com
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the potential and viability of carbon sequestration generally, the impact of drilling on the definition of any resource, timing and completion (if at all) of additional mineral resource estimates, the potential of the Timmins Nickel District, strategic plans, including future exploration and development plans and results, and corporate and technical objectives. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur 2 the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Canada Nickel Company Inc.
