Mr. H. Vance White reports

NOBLE RECEIVES FINAL COURT ORDER FOR ARRANGEMENT

On May 15, 2026, the Ontario Superior Court of Justice (Commercial List) issued a final order approving Noble Mineral Exploration Inc.'s previously announced plan of arrangement under the Business Corporations Act (Ontario). Receipt of the final order follows Noble's special meeting of shareholders held on May 7, 2026, where a special resolution approving the arrangement was overwhelmingly approved by the voting shareholders of Noble.

Pursuant to the arrangement, the company is reorganizing its share capital, with current common shares being exchanged for: (a) new common shares having the same rights and privileges as the pre-exchange shares; and (b) a pro rata portion of approximately nine million common shares of Homeland Nickel Inc. (distributed among the common shareholders of the company). It is currently anticipated that each Noble common share will entitle its holder to receive approximately 0.034 of a common share of Homeland. The actual distribution ratio of Homeland shares will be confirmed on or immediately after the effective date of the arrangement based on the number of common shares of Noble that are outstanding at the record time for the arrangement.

The completion of the arrangement is subject to final approval of the TSX Venture Exchange. The company anticipates completing the arrangement pursuant to the timeline detailed in the attached table.

Those interested in acquiring common shares of Noble that will be entitled to participate in the distribution are strongly encouraged to complete their purchase of shares in the market, or to exercise their warrants or options by Friday, May 22, 2026, to ensure the transactions have settled by the record date for the distribution.

Noble will provide further updates regarding the implementation of the arrangement and the completion of the distribution as it is available.

In relation to the arrangement and distribution, H. Vance White, president and chief executive officer of Noble, stated the following: "In keeping with our past practice of allowing our shareholders to participate directly in the progress of companies in which Noble holds shares, we are very pleased to proceeding with the distribution of nine million Homeland shares to our shareholders. Homeland Nickel Inc. is a TSX-V-listed company focused on critical metals, with 10 nickel projects in Oregon, USA, hosting very large historical nickel resources. It also holds interests in copper and gold projects in Newfoundland, Canada. Details of Homeland and their most recent news releases can be found on their website, at htpps://homelandnickel.com/.

"Applying the most recent closing price for Homeland's shares on the TSX Venture Exchange, the distribution would result in approximately $4-million of value being returned to Noble's shareholders. When factoring in the earlier distributions of Canada Nickel Company Inc. (CNC) shares completed by Noble in 2020 and 2022, more than approximately $28-million of current value will have been distributed by Noble to its shareholders in the form of Homeland and CNC shares. Noble will retain more than 10 million shares of Homeland after the planned distribution has been completed. As a company, we will continue to seek other opportunities to distribute to our shareholders significant share blocks of other public companies that Noble has acquired over the years, perhaps including some of the more than 10 million Homeland shares retained after completion of the distribution."

About Noble Mineral Exploration Inc.

Noble Mineral is a Canadian-based junior exploration company that has holdings of securities in Canada Nickel Company, Homeland Nickel and East Timmins Nickel Inc. (20 per cent), and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont.

Noble holds mineral and/or exploration rights in approximately 70,000 hectares in Northern Ontario and approximately 25,000 hectares elsewhere in Quebec, upon which it plans to generate option/joint venture exploration programs. Among those are included Noble's mineral rights and/or exploration rights in 18,000 hectares in the Timmins-Cochrane areas of Northern Ontario, known as Project 81, approximately 2,215 hectares in Thomas Township/Timmins and an additional 20-per-cent interest in approximately 38,700 hectares in the Timmins area held by East Timmins Nickel. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. Noble's holdings in Ontario also include: approximately 4,600 hectares in the Nagagami carbonatite complex; and approximately 3,200 hectares in the Boulder project, both near Hearst, Ont. In Quebec, it holds: approximately 3,700 hectares in the Buckingham graphite property; approximately 10,152 hectares in the Havre St. Pierre nickel, copper and PGM (platinum group metal) property; approximately 1,573 hectares in the Cere-Villebon nickel, copper and PGM property; the approximately 569-hectare uranium/rare earth property (Chateau); the approximately 461-hectare uranium/molybdenum property (Taser North); the approximately 4,465-hectare REE (rare earth element) Mehmet property; the approximately 3,300-hectare Gull Lake REE property; and the approximately 1,232-hectare Opawica scandium and REE property. In Newfoundland and Labrador, it holds the approximately 647-hectare Chapiteau REE property.

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

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