Noble Mineral Exploration Inc. and Canada Nickel Company Inc. have finalized a complex transaction involving the consolidation of mining properties in northeastern Ontario, creating a new exploration entity and restructuring their respective exploration rights.
Under the agreement, the companies have established East Timmins Nickel Ltd. (ETN), a new subsidiary controlled by Canada Nickel, which now encompasses mining claims in Mann Township. Noble retains a 20% ownership stake in ETN, which controls approximately 1,814 mining claims spanning over 38,729 hectares across multiple townships.
As part of the transaction, Noble transferred its Project 81 interests to Canada Nickel while maintaining exploration rights for gold, silver, copper, lead, and zinc. The company will also retain up to a 2% royalty on transferred properties, with similar royalty arrangements for Canada Nickel.
The strategic move allows both companies to consolidate their exploration interests in the Timmins mining camp, potentially maximizing the value of their mineral assets. Vance White, CEO of Noble, highlighted the transaction's potential benefits, including exposure to additional nickel sulphide targets and the possibility of future shareholder distributions upon ETN's potential public listing.
Resource estimates for at least two projects are anticipated in the second quarter of 2025, signaling potential future development of the consolidated mining claims. This transaction represents a strategic approach to property management and exploration in the resource-rich Timmins region of Ontario.
