Noble Mineral Exploration Inc. Proceeds with a Non-Brokered Private Placement

Toronto, February 3, 2020 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that it is undertaking a non-brokered private placement (the "Private Placement") on a best efforts basis involving the issuance of 5,000,000 hard dollar Common Share Units ("HD Units") or flow through Common Share Units ("FT Units"), subject to increase of up to 25% at the discretion of Noble should investor interest warrant doing so. The gross proceeds to be raised in this Private Placement would be up to $400,000 if fully completed as HD Units, up to $600,000 if fully completed as FT Units, subject to increase as noted. The Offering Price is $0.08 per HD Unit and $0.12 per FT Unit. The Company may pay a cash commission of up to 7% of the amount raised to those providing assistance with the Private Placement, together with the issuance of broker warrants for 10% of the number of Units placed.

Each HD Unit and each FT Unit would consist of one common share and one half of one common share purchase warrant. Each such full common share purchase warrant (a "Warrant") would allow the holder to acquire one common share of Noble at an exercise price of $0.12 per share, for a period of two (2) years following the closing.

As previously announced, the shareholders of Noble have approved an arrangement pursuant to which up to 10 million common shares of Canada Nickel Company Inc. ("Canada Nickel") are to be distributed to Noble's shareholders. (For further details, see Noble's Management Information Circular dated November 29, 2019 as filed on SEDAR on December 6, 2019 under Noble's profile.)

For any common shares of Noble issued pursuant to closing(s) of this Private Placement that occur prior to the effective date of that Arrangement, the holder of those shares will be entitled to receive a portion of the shares of Canada Nickel to be distributed on the same basis, and to the same extent, as other shareholders of Noble at that time. The shares of Canada Nickel so received by investors in this Private Placement will be subject to any hold period(s) required under securities laws or TSX Venture Exchange policies, which may include a four (4) month hold.

The closing is scheduled for February 7, 2020 (or such later date as required), with the Corporation having the right close earlier or later (in its discretion), and to close in tranches.

The closing of the Private Placement is subject to completion of formal documentation and the approval of the TSX Venture Exchange, as well as any other required regulatory approvals.

Noble intends to use the proceeds raised through the Private Placement to provide working capital and fund exploration expenditures, for general and administrative expenditures, to pay debts.

Vance White, Noble's President and CEO commented: "We feel there is a tremendous opportunity to identify mineral wealth on what has been a relatively underexplored project area within Project 81, in close proximity to very satisfactory infrastructure. A number of drill ready targets have already been identified, and the capital raised through this Private Placement should allow Noble to pursue exploration alone and/or with others, as well as provide necessary working capital for the maintenance of Noble's properties and its ongoing operations. Noble remains optimistic that VMS deposits of the Kidd Creek type occur in clusters. We are continuing work on bringing in Option and JV partners on other parts of our Project 81 holdings, in order to de-risk the exploration phase on this very large land package of mineral rights".


About Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 78,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com .

Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".


Forward-Looking Information: 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.

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. The Company 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
Email: ir@noblemineralexploration.com