Noble Metal Group Incorporated

July 04, 2008 16:22 ET

Noble Hydrocarbons Alta Ltd. ("NHA") Announces Oil Shale Exploration Permits Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2008) - Noble Metal Group Incorporated (TSX VENTURE:NMG) -

The Company is pleased to announce that for each of its oil shale exploration permits located near Tisdale, Saskatchewan, it has received from the Saskatchewan government confirmation and approval that the work commitment expenditures required for all five years of the permits have been fulfilled. Prior to receiving approval of expenditures, all oil shale cores are required to be stored at the Saskatchewan Industry and Resources Subsurface Geological Laboratory located in Regina. NHA completed this requirement in May 2008 on delivery of all cores from its 9 hole drill program to that facility. NHA holds three oil shale exploration permits in the Tisdale area covering 28,447 hectares (70,294 acres).

Samples of the cores from the 9 hole drill program were sent for laboratory testing and analysis to Baseline Laboratories in Texas under the supervision and chain of custody of Wayne F. Downey Jr., Professional Geologist for GRH (Global Resource Holdings, LLC). Mr. Downey left GRH's employ in late 2007. He has been retained by NHA to prepare a report relating to the Baseline Laboratory results on the tests he commissioned. NHA is awaiting a final copy of his report.

NHA also holds in the Hudson Bay area of Saskatchewan a further oil shale exploration permit covering parts of 5 townships comprising 37,980 hectares (93,851 acres). Investors may be aware of the significant coal deposit discovery made by Goldsource Mines Inc. approximately 50 kms (30 miles) northeast of the community of Hudson Bay, Saskatchewan. The northeast corner of NHA's oil shale exploration permit area abuts the southwest corner of the coal permits recently granted by the Saskatchewan government to Goldsource Mines Inc. including the discovery deposit. NHA's exploration rights are exclusive in its permit area and extend from the surface to the top of the Precambrian geological layer. Should coal be encountered by NHA during the course of its exploration of the permit area, it has confirmed with the Saskatchewan Industry and Resources that it has the option of converting part of its oil shale exploration permit area to a coal lease.



JJ McIntyre, President

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For statements of historical fact relating to the Company, this news release contains certain "forward-looking information" within the meaning of applicable securities law. "Forward-looking information" is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events "may", "will", or "could" occur. There are uncertainties inherent in forward-looking information including factors beyond the company's control, and no assurance can be given that the programs will be completed on time, on budget or at all. The reader is cautioned not to place undue reliance on forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Contact Information

  • Noble Metal Group Incorporated
    JJ McIntyre
    (604) 683-9338
    (604) 683-9293 (FAX)