Mr. Vern Arseneau reports

NOBEL WITHDRAWS FROM OPTION TO ACQUIRE THE PIRCAS VERDES PROJECT IN CHILE

Nobel Resources Corp. has withdrawn from its option to acquire the Pircas Verdes project in Chile, pursuant to the terms of the Pircas Verdes option agreement (see the company's Nov. 18, 2022, press release for further details).

As reported by Nobel on June 21, 2023, during the surface mapping at Pircas Verdes, seven samples from different pulses of intrusive rocks were collected and analyzed for age dating. The objective of this work was to determine when the various intrusive pulses mapped on the project were emplaced and determine if the intrusive phases were related to the Miocene porphyry belt. Miocene-age rocks host several world-class porphyry deposits in Chile. More specifically, the Pelambres and Pachon deposits that have 2,125 million tons at 0.64 per cent Cu (copper)/180 parts per million (ppm) Mo (molybdenum) and 3,300 million tons at 0.47 per cent Cu, respectively, occur within 20 kilometres of the Pircas Verdes property.

Results obtained from the age dating indicate that the emplacement time of the different granite porphyry pulses at Pircas Verdes fluctuated between 68.5 million and 79 million years ago, corresponding to the Cretaceous period and not the Miocene, which is the age of the major deposits in the area. The rocks surrounding the Pelambres mine also belong to the Cretaceous period, however, the mineralization occurs in the Miocene intrusive pulses outcropping in the mine.

Although it is possible that porphyry-style mineralization can be found on the project, the Cretaceous systems are characterized by lower tonnage and are less likely to achieve dimensions required for a large-scale commercial operation.

According to Vern Arseneau, chief operating officer of Nobel: "The Pircas Verdes property hosts alteration zones and copper mineralization in outcrops at various locations. Had the age date corresponded to the major Miocene mineralizing event, this prospect would have been highly compelling."

Nobel is currently evaluating opportunities in an effort to reactivate its business and build shareholder value.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by David Gower, PGeo, in accordance with National Instrument 43-101 of the Canadian Securities Administrators.

About Nobel Resources Corp.

Nobel Resources is a Canadian resource company focused on identifying and developing prospective mineral projects. The company has a team with a strong background of exploration success.

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