Wednesday, October 8, 2025

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Canada Nickel, Noble To Consolidate Nickel Assets

Canada Nickel Company Inc. (TSXV: CNC) has entered into a binding letter of intent with Noble Mineral Exploration Inc. (TSXV: NOB) to form a new private company (ExploreCo) aimed at consolidating their nickel mining properties in northeastern Ontario. The announcement marks a strategic move to streamline the development and enhance the value of their extensive asset portfolios in the region.

ExploreCo will incorporate 1,989 mining claims, covering approximately 42,000 hectares, encompassing properties in Mann, Newmarket, Reaume Townships, and additional properties held by Canada Nickel in Calder, Galna, McCool, Moody, Mortimer, and Stimson.

ExploreCo’s properties, shown in magenta, are located east of Highway 655 and north of Highway 101, all east of Timmins. Canada Nickel’s properties are shown in red. 
Source: Canada Nickel

Under the agreement, Canada Nickel will hold an initial 80% ownership in ExploreCo, with Noble holding the remaining 20%. The funding for ExploreCo’s first $5 million will come from existing funds of Canada Nickel.

Canada Nickel’s current Vice President of Exploration, Steve Balch, will lead the new entity. Governance will include a five-member board, with Canada Nickel appointing two directors, Noble appointing one, and two mutually agreed upon directors.

Mark Selby, CEO of Canada Nickel, emphasized the strategic importance of this venture: “Today is the first of a set of transactions designed to unlock value from our significant asset portfolio. The creation of ExploreCo will facilitate the ability to realize the future value of these properties that are not currently recognized in Canada Nickel’s market value.”

A significant aspect of the transaction includes the consolidation of mining and surface rights in the Crawford region. Noble will transfer 832 mining claims and 291 mining patents to Canada Nickel in various townships, including Calder, Duff, Jamieson, Jessop, and MacDiarmid. This consolidation aims to simplify the development process for the Crawford Nickel Sulphide Project, a flagship asset of Canada Nickel.

“This transaction allows the Company to consolidate the surface rights, remaining claims, and patents around the Crawford Nickel Sulphide Project to simplify the development of Crawford and our future projects,” Selby said.

The completion of the transactions under the letter of intent is contingent upon negotiating a definitive agreement, obtaining all necessary regulatory approvals, and receiving the approval of the TSX Venture Exchange. Additionally, Canada Nickel will issue 162,000 common shares to Noble to consolidate ownership of certain properties currently held by third parties.

Noble retains specific exploration rights for non-nickel opportunities on properties it previously owned, subject to Canada Nickel’s approval, ensuring potential future exploration and development beyond the immediate focus on nickel.

ExploreCo may seek to become a publicly listed company if market conditions permit, offering further opportunities for investment and growth in the nickel mining sector.

Canada Nickel last traded at $1.23 while Noble last traded at $0.055 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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