Country for PR: United States
Contributor: PR Newswire New York
Saturday, November 28 2020 - 04:10
Nubian Completes Acquisition of Yandoit Advanced Gold Project in Victoria, Australia
TORONTO, Nov. 28, 2020 /PRNewswire-AsiaNet/ --

Nubian Resources Ltd. (TSXV: NBR) ("Nubian" or the "Company") is pleased to 
announce that further to the Company's press release of November 23, 2020, the 
Company has completed its acquisition of a 60% interest in the Yandoit Gold 
Project (the "Project"), situated in the historic Daylesford gold corridor of 
central Victoria, Australia.  The Project consists of approximately 38 square 
kilometre (3,800 ha) of property interest held under one Mining Licence and two 
Exploration Licences, containing six historic gold mines. In connection with 
the acquisition, the Company's wholly-owned subsidiary Blackwood Prospecting 
Pty Ltd ("Blackwood"), paid Ballarat Investment Management Pty Ltd ("BIPM"), 
the owners of the Project, A$370,000 (C$X) and issued 4,695,093 common shares 
in the capital of the Company at a deemed price of C$0.15 per share.  The 
common shares issued are subject to the statutory four month hold period in 
accordance with securities laws.  

In connection with closing, the Company also issued a promissory note that 
provides for the payment by the Company of the consideration to acquire the 
remaining 40% of the Project within 18 months of closing, or the return of 35% 
of the shares of BIPM, reducing the Company's ownership in BIPM to 25%, in the 
event the Company does not wish to proceed with the acquisition of 100% of the 
Project.  The Company also entered into a shareholders' agreement with respect 
to the ownership of the shares of BIPM and the governance of BIPM.   Both 
agreements are more fully described in the Company's press release of October 
27, 2020.  


Nubian Resources Ltd. is a public traded precious and base metals exploration 
company listed on the TSX Venture Exchange. The Company is managed by a team of 
experienced mining and geological professionals.  Nubian's main asset is the 
Esquilache Silver-Zinc Project located within the Tintaya porphyry copper belt 
of southern Peru.   In May 2020, Nubian entered into an agreement to acquire 
and develop the Yandoit Gold Project in central Victoria, Australia.   

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 

Caution Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking 
information. These statements relate to future events or future performance. 
The use of any of the words "could", "intend", "expect", "believe", "will", 
"projected", "estimated" and similar expressions and statements relating to 
matters that are not historical facts are intended to identify forward-looking 
information and are based on Nubian's current belief or assumptions as to the 
outcome and timing of such future events. Actual future results may differ 
materially. Various assumptions or factors are typically applied in drawing 
conclusions or making the forecasts or projections set out in forward-looking 
information. Those assumptions and factors are based on information currently 
available to Nubian.  Although such statements are based on reasonable 
assumptions of Nubian's management, there can be no assurance that any 
conclusions or forecasts will prove to be accurate. 

Forward-looking information contained in this news release is based on certain 
factors and assumptions regarding, among other things, the Project and other 
similar matters. While Nubian considers these assumptions to be reasonable 
based on information currently available to them, they may prove to be 
incorrect.   Forward looking information involves known and unknown risks, 
uncertainties and other factors which may cause the actual results, performance 
or achievements to be materially different from any future results, performance 
or achievements expressed or implied by the forward-looking information. Such 
factors include risks inherent in the exploration and development of mineral 
deposits, including risks relating to changes in project parameters as plans 
continue to be redefined, risks relating to variations in grade or recovery 
rates, risks relating to changes in mineral prices and the worldwide demand for 
and supply of minerals, risks related to the COVID-19  pandemic and current 
global financial conditions, increased competition, access and supply risks, 
reliance on key personnel, operational risks regulatory risks, including risks 
relating to the acquisition of the necessary licenses and permits, financing, 
capitalization and liquidity risks, title and environmental risks.

The forward-looking information contained in this release is made as of the 
date hereof, and Nubian is not obligated to update or revise any 
forward-looking information, whether as a result of new information, future 
events or otherwise, except as required by applicable securities laws. 

Because of the risks, uncertainties and assumptions contained herein, investors 
should not place undue reliance on forward-looking information. The foregoing 
statements expressly qualify any forward-looking information contained herein. 

please contact Martin Walter, Chief Executive Officer, Nubian Resources Ltd., 
at +1-416-389-5692 or

SOURCE  Nubian Resources Ltd.