Noble Mineral Exploration Sells Island Pond Claims to Benton Resources in Strategic Newfoundland Deal

Noble Mineral Exploration Inc. has entered into an agreement to sell its Island Pond mining claims in Newfoundland & Labrador to Benton Resources Inc., a strategic transaction that consolidates Benton's position in the promising Great Burnt Copper-Gold Project area. The deal involves seven mining claims covering approximately 175 hectares in Central Newfoundland, strategically located north of Benton's existing South Pond Gold Zone.

Under the terms of the agreement, Benton will acquire the claims in exchange for 1,000,000 common shares of Benton and a cash payment of $30,000. The shares will be subject to the standard four-month hold period required by TSX Venture Exchange policies. Noble will retain significant ongoing interest through a 1% net smelter returns royalty on the property, which is not subject to any buyback rights, though Benton maintains a right of first refusal should Noble consider selling the royalty in the future.

The transaction represents a strategic consolidation within the Great Burnt Copper-Gold Project area, potentially enhancing the development prospects for the broader mineral district. The property already carries a pre-existing 2% net smelter returns royalty, adding to the layered ownership structure that characterizes many advanced mineral exploration projects.

H. Vance White, Noble's CEO, commented on the transaction, stating the company looks forward to Benton's future results while maintaining exposure to the property's potential through the retained royalty. The deal requires approval from Noble's Board of Directors and the TSX Venture Exchange before closing can be completed.

This transaction highlights the ongoing consolidation and strategic positioning occurring within Canada's mineral exploration sector, particularly in Newfoundland's emerging mining districts. The Great Burnt area has gained attention for its copper-gold potential, making property consolidation a logical step for companies seeking to optimize exploration efficiency and resource development potential.

The deal structure, combining share consideration with retained royalty interests, represents a common approach in junior mining transactions where companies seek to maintain exposure to exploration upside while generating immediate value. For investors, this transaction demonstrates how exploration companies can monetize non-core assets while preserving future revenue streams through royalty arrangements.

More detailed information about Noble Mineral Exploration Inc. is available through their corporate website at https://www.noblemineralexploration.com. The transaction's completion remains subject to regulatory approvals, reflecting the structured governance requirements within Canada's public mining sector.