Nobel Resources Corp announced on January 6 that it has entered into binding agreements to acquire a 100% interest in four separate copper projects in Chile's Antofagasta Region.

The four projects, collectively known as Cuprita, Janett, Pampa Austral, and Anais, are being acquired by Nobel's wholly-owned Chilean subsidiary, Mantos Grandes Resources Chile SpA.

Cuprita is the most advanced project and will be Nobel's primary asset after the transaction closes. It's a highly prospective copper project with multiple near-surface targets identified during recent rock sampling campaigns. It is located in the renowned Paleocene Porphyry Copper Belt. This 1,000-hectare property boasts year-round road access and several untested geological features indicating potential for a significant copper deposit.

Janett and Pampa Austral possess abundant copper oxide mineralization at surface, with several small-scale artisanal operations historically operating there.

Janett mine is a past-producing deposit which is a part of the coastal "stratabound Copper ore deposit" belt. It exhibits copper oxide mineralization open in multiple directions, while the Michos sector displays disseminated copper oxide.

Pampa Austral is a 2,700-hectare project situated 35km north of Diego de Almagro. It has shown promising results of copper mineralization within the Iron Oxide Copper Gold belt and is close to important infrastructure like power, water, and ports.

Anais, a smaller project, holds promise based on previous exploration results showing high-grade copper intercepts. This 100-hectare project boasts high-grade copper results from historical drilling. An artisanal mine located nearby returned grades similar to those reported from Mantos material.

Transaction Terms

The acquisition of each project is subject to specific option agreements outlining cash payments and royalty structures. Key points include:

•             Cuprita Project: Nobel will make staged cash payments over 48 months totaling $1.2 million USD, along with a 2% NSR royalty (with a 0.5% buyback option for $2 million USD). Additionally, 5 million Nobel shares will be issued upon closing and achieving a compliant mineral resource estimate on the project.

•             Pampa Austral Project: Cash payments totaling $1.2 million USD will be versd over 48 months, with a 2% NSR royalty (0.5% buyback option for $820,000 USD).

•             Janett Project: The agreement entails $500,000 USD in staged cash payments spread over 48 months and a 2% NSR royalty (0.5% buyback option for $820,000 USD).

•             Anais Project: Acquisition costs include $50,000 USD in staged cash payments over 48 months and a 2% NSR royalty (0.5% buyback option for $360,000 USD).

The TSX Venture Exchange approval is a prerequisite for closing the transaction, which is expected to be an arm's length transaction with no finder's fees involved. Trading of Nobel's common shares will remain halted on the TSXV until the required documentation is received and reviewed.