ACROW LIMITED — Capital/Financing Update 2010

Jan 31, 2010

29 JANUARY 2010

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MORE HIGH GRADE INTERSECTIONS AT CAPE THREE POINTS

BROTET LICENCE SIGNED

ANNOUNCEMENT

Noble Mineral Resources Ltd (ASX: NMG) is pleased to announce drill results recently received from the Cape Three Points Licence in SW Ghana. High grade values include:

1m @ 40.06 g/t 2 m @ 18.65 g/t 1m @ 21.3 g/t

The Company has also concluded a purchase agreement for the Brotet Prospecting Licence which adjoins the north eastern boundary of the Cape Three Points Licence.

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Mr. Wayne Norris MD of Noble Mineral Resources Ltd and Mr. Adolf Tagoe MD of Brotet Mining Ltd in Accra.

A campaign of fifty one (51) RC drill holes for 3,995 metres was completed on the Cape Three Points Project in late December. Significant gold mineralisation was identified in the Satin North Prospect which lies two kilometres north of the historic Satin underground mine. Two fences of shallow RC holes identified

Hole NSRC086: 46 to 65 metres, 19 metres @ 2.67 g/t Including: 2 metres @ 18.65 g/t Hole NSRC087: 64 to 81 metres, 17 metres @ 2.10 g/t Including: 2 metres @ 7.36 g/t

Significant gold mineralisation was also identified within the northern extensions to the Morrison Prospect. Eight fences of RC drilling extended the known extent of the Morrison mineralised structure for 750 metres north of high grade values identified in hole MNRC024 (1m @ 62.19 g/t) in September last year:

Hole NMRC052: 5 to 7 metres, 2 metres @ 13.15 g/t Including: 1 metre @ 21.33 g/t 32 to 33 metres, 1 metre @ 40.06 g/t

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15 Bowman Street, South Perth, Western Australia, 6151 PO Box 371, South Perth, Western Australia, 6951 T: (61-8) 9474 6771 F: (61-8) 9474 6772 W: www.nobleminres.com.au

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Brotet PL
Cape Three Points PL
Recent drilling
2m @ 18.65 g/t
Mbapehia Adit
2m @ 7.36 g/t Satin North
545,000 mN
Yeiso adit
Recent Drilling
2m @ 13.15 g/t
SatinMine % Morrison
540,000 mN
Recent and historical drilling
=
=
MORRISON TrendMORRISON TrendMORRISON TrendMORRISON Trend
nddndd
SATIN trendSATIN trendSATIN trendSATIN trend
BEOKROM TrendBEOKROM TrendBEOKROM TrendBEOKROM Trend
Brotet TrendBrotet TrendBrotet TrendBrotet Trend
605,000 mE 610,000 mE 615,000 mE
=== =
=== =
ΙΙΙ Ι
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Drilling on the Satin and Morrison Prospects in the northern portion of CTP Licence area.

The figure above shows areas of drilling activity during December 2009 on the two major mineralised trends within the Cape Three Points Licence. The Satin and Morrison Trends are clearly defined by aerial magnetic images and trend in a sub-parallel north north east direction that lie 2.5 kilometres apart.

The Satin North Prospect has not been soil sampled or trenched. Drilling targeted bedrock mineralisation identified by field mapping and represents a two kilometre northern step-out to the Satin trend drill pattern. Follow up drilling is expected to commence upon completion of a soil sampling program and further field mapping.

The December round of RC drilling has traced the Morrison mineralised trend on to the Brotet Licence and confirmed that it falls within the five kilometre soil anomaly identified by Anmercosa in the1990s. Both Satin and Morrison mineralisation is associated with quartz veins and pyrite within an andesitic package of volcanic rocks. Diamond drilling will confirm the occurrence of a quartz porphyry intrusive that appears to be associated with gold mineralisation in the northern portion of the Morrison Prospect.

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A list of significant intersections obtained from the December drilling campaign are presented below:

Hole	Prospect	From	To Width(m)	To Width(m)	Grade(g/t)
NSRC086	Satin North	46	65	19	2.67
including		46	48	2	18.65
NSRC087	Satin North	64	81	17	2.10
including		69	71	2	7.36
NMRC034	Morrison	85	88	3	1.14
NMRC040	Morrison	13	14	1	5.85
		36	38	2	1.01
		59	61	2	2.74
NMRC041	Morrison	77	78	1	3.07
NMRC044	Morrison	56	57	1	2.08
NMRC047	Morrison	19	20	1	1.65
		22	23	1	6.12
		60	61	1	1.07
		77	78	1	1.61
NMRC048	Morrison	42	43	1	1.21
NMRC052	Morrison	5	7	2	13.15
including		5	6	1	21.33
		17	19	2	5.97
		24	25	1	1.95
		32	33	1	40.06
		51	52	1	2.71
		87	88	1	10.08

The Company has signed a Transfer and Option agreement with Brotet Mining Ltd to immediately acquire 85% of the Brotet Prospecting Licence which lies to the north east of the Cape Three Points Licence. Noble have paid Brotet Mining Ltd US$50,000 for their Prospecting Licence and will allocate Brotet Mining Ltd the equivalent of US$ 100,000 of Noble shares upon approval of the agreement by the Ministry of Lands, Forestry and Mines. The allotment of the Noble shares is subject to compliance with any required regulatory and shareholder approvals.

The Brotet Licence covers 35.35 square kilometres and contains a soil anomaly defined by Anmercosa in the mid 1990s that trends for five kilometres northwards from the Morrison Prospect on the Cape Three Points Licence.

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Brotet PL
550,000 mN
Anmercosa
soil anomaly
Cape Three Points PL
Recent drilling
2m @ 18.65 g/t
2m @ 7.36 g/t Satin North Mbapehia Adit
545,000 mN
Yeiso adit Recent Drilling
2m @ 13.15 g/t
SatinMine % Morrison
540,000 mN
Recent and historical drilling
MORRISON TrendMORRISON TrendMORRISON TrendMORRISON Trend
dddd
=
=
SATIN trendSATIN trendSATIN trendSATIN trend
BEOKROM TrendBEOKROM TrendBEOKROM TrendBEOKROM Trend
6.8 km
Brotet TrendBrotet TrendBrotet TrendBrotet Trend
605,000 mE 610,000 mE 615,000 mE
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ΙΙΙ Ι
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The Brotet Prospecting Licence showing Morrison drilling and Anmercosa soil anomaly

Authorised by:

Wayne Norris Managing Director

Competent Person’s Statement

The information in this report that relates to the Cape Three Points licence area is based on information compiled by Mr Simon Edward Meadows Smith (BSc (Geology)), who is a member of the Institute of Materials, Minerals and Mining. Mr Meadows Smith is employed by SEMS Exploration Services Ltd. Mr Meadows Smith has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Meadows Smith consents to the inclusion in the report of the matters based on his information in the form and content in which it appears.

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About Noble Mineral Resources Limited

Noble Mineral Resources Ltd (“Noble”) listed on the Australian Securities Exchange on 26 June 2008 with a focus on exploring for large-scale gold deposits in the world-class Ashanti Gold Belt in Ghana. In November 2009, the Company entered into an agreement for the acquisition of the Bibiani Gold Mine, a project located in the Sefwi-Bibiani Gold Belt in Ghana, host to over 30 million ounces of gold. A review is currently being undertaken on the Bibiani Gold Project involving developing the necessary funding and a fresh mining strategy for the project.

Noble’s other primary gold concessions are two Exploration Licences, Cape Three Points and Tumentu , which cover some 88km² and are located within the world-class Ashanti Gold Belt in south western Ghana. Ghana is the second largest gold producer in the African continent and is the 10th largest gold producing nation in the world, with annual production of approximately 2.4 million ounces.

Noble’s ongoing exploration focus will be to evaluate the Cape Three Points Concession within the southern extension of the Ashanti Gold Belt. Initial exploration will be targeted towards the Satin Mine Project and the Morrison Project, which both lie in an area of historic underground gold production. Noble believes that there is significant potential for the delineation of additional high-grade gold mineralisation relating to the along strike extension to these zones.

As well as these more advanced exploration opportunities, the Cape Three Points concession hosts three other project areas for immediate follow-up and five lower-priority prospect areas that Noble has earmarked for ongoing exploration.

The Tumentu Concession is located along strike between the Prestea gold mine and the 1.6 million ounce Salman-Anwia gold deposit currently being explored by ASX-listed Adamus Resources Limited. Artisanal mining, soil sampling, mapping and trench sampling, geological mapping and magnetic surveys have been undertaken and indicate anomalous gold levels within the concession.

The Company intends to apply the latest conceptual geological models and exploration strategies to these relatively under explored, highly prospective projects, with the aim of rapidly defining a JORC-compliant resource for development.

www.nobleminres.com.au

ASX Code: NMG

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