Nubian Acquires Idaho Sedex Prospect

By Nubian Resources Ltd., PRNE
Thursday, July 21, 2011

ABBOTSFORD, British Columbia, July 22, 2011 -


 

Nubian Resources Ltd. (NBR:TSX.V) is pleased to announce that it
has signed a lease agreement with Timberwolf Minerals Ltd., a
private corporation, to acquire a 100% interest in
Timberwolf’s  Idaho Sedex lead-zinc-silver prospect area in
Lemhi County, Idaho effective June 30th 2011.

Nubian paid the Lessor an upfront payment of USD $5,000 upon
signature of the contract and will pay the Lessor a minimum annual
payment on the anniversary date (June 30th 2011) of the
signed agreement as follows:

a. Pay Lessor USD $10,000 on or before the first anniversary
date, start of year two.

b. Pay Lessor USD $10,000 on or before the second anniversary
date, start of year 3, and each successive year thereafter, for as
long as Lessee maintains this Agreement in good standing.

c. From the start of production onward, Lessee shall pay Lessor
USD $30,000 or a one percent (1%) NSR, whichever is greater. Each
such payment shall be made on or before the successive anniversary
of the execution of this lease. Royalty payments shall be made
quarterly of each year. Lessee may purchase the NSR, on or before
the Start of Year 6 of this Agreement for a final one-time buyout
payment of USD $2,000,000 exclusive of all prior payments.

About the Idaho Sedex Property

The prospect area, which includes the historic Worthing-Kauffman
mine, is located in the Birch Creek Mining District about 38 miles
southeast of Leadore, Lemhi County, Idaho.  Lead and silver
were discovered in the district about 1880, and the district’s
mines were among the most important in Idaho in the eighties, and
district production up to 1944 is estimated at about five million
dollars
in lead, silver and copper.  Zinc was not recovered in
early mining efforts.  Most of the district ore production is
oxidized.

The Birch Creek deposits have been characterized as structurally
controlled replacements in steeply dipping lower Paleozoic
quartzite.  Recently, however, the U. S. Geological Survey has
reclassified the origin of the ore as possible basin-margin,
carbonate-shale-hosted, stratabound deposits along the eastern
margin of an island-arc and inner-arc basin located to the
west.  The primary mineralization can be correlated with a
modern “sedimentary-exhalative” deposit model.  Regional
metamorphism has in some cases remobilized the metals into
structurally controlled deposits.

Within the prospect area, two prominent lead-zinc gossans, each
40-100 feet wide, dip nearly vertically along the structure and
bedding.  Beyond this zone, stockwork mineralization may
extend in favorable stratigraphy for another 200-500 feet. 
The overall mineralized zone in this part of the prospect area
varies from 400-1,000 feet wide following the structure a distance
of over 5,000 feet.  Twelve surface grab samples collected by
Timberwolf, some less oxidized and with visible sulfides, averaged
0.67% lead and 1.72% zinc.  Nubian has collected 19 additional
samples of mineralized rock, results pending.

Nubian has staked 14 additional mining claims, bringing the
total holdings to 18 contiguous claims (approximately 372 acres)
and is gathering additional historic and modern geologic and
prospecting data.  The current land holdings cover all the
known lead-zinc gossans.  The company will conduct geologic
mapping and sampling with the intention of formulating a drill
exploration program.

Peter H. Hahn, C.P.G., a Qualified Person (QP) as defined by
National Instrument 43-101 supervised the preparation of the
technical information in this news release.  The information
presented is historical in nature and has not been verified for
accuracy and completeness.

President and CEO Graham Chisholm comments:  “We find the
lead-zinc gossans attractive and worthy of further exploration and
we are also interested in the copper prospects. Additional staking
is currently taking place as well as additional surface grab
sampling.

Graham Chisholm

Graham Chisholm

President & CEO

This release includes certain
statements that are “forward-looking statements”. All statements in
this release, other than statements of historical facts that
address future exploration, development and production activities,
and other circumstances, events and developments that the Company
expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results, events
and developments may differ materially from those in the
forward-looking statements. The occurrence of certain risk factors,
the probability of which is unknown, may also affect actual
results, events and developments expected by the Company.

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.

For further information:
Graham Chisholm
graham@nubianr.com
Office: +1-604-859-3007; Cell: +1-604-302-0746

Jeannette Durand
href="mailto:jeannette@nubianr.com">jeannette@nubianr.com

Web Page:  href="www.nubianr.com">www.nubianr.com

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