Noble to sell Island Pond claims to Benton Resources

* Noble Mineral Exploration (TSXV:NOB:CA [https://seekingalpha.com/symbol/NOB:CA]) said on Tuesday that it has entered into an agreement [https://seekingalpha.com/pr/20264674-noble-agrees-to-sell-island-pond-claims-to-benton-resources-inc]to sell its Island Pond claims in Newfoundland & Labrador to Benton Resources.
* The Island Pond claims are a group of 7 mining claims located in Central Newfoundland, covering an area of approximately 175 hectares.
* The Island Pond property is strategically located north of Benton’s South Pond Gold Zone within the Great Burnt Copper-Gold Project area.
* Under the agreement that was signed, Noble would sell these claims to Benton in exchange for 1M common shares of Benton and a payment of $30,000.
* The shares will have a standard four-month hold period as required under TSX Venture Exchange policies. In addition, Noble would retain a 1% net smelter returns royalty that would not be subject to any buyback rights.

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* Financial information for Noble Mineral Exploration Inc. [https://seekingalpha.com/symbol/NOB:CA/income-statement]