ABBOTSFORD, BC,
Aug. 25, 2011 /PRNewswire/ - Nubian
Resources Ltd (TSX.V:NBR) is pleased to announce the appointment of
Larry Treadgold as CEO of Nubian
Resources Ltd., following the resignation of Graham Chisholm.
Mr. Treadgold joined the Board of Nubian in
September 2010 as Non Executive
Director and was appointed Chairman of the Technical Committee. His
contribution towards the re‐structuring of the company and in
particular his metallurgical and mining expertise has been
invaluable.
Nubian over the last 12 months has sold off all
of its mining equipment, raised working capital through private
placement, acquired and joint ventured its gold property in
Nevada for accelerated
exploration, restructured its shares through a reverse split, and
signed a 100% lease for a Pb‐Zn‐Ag prospect in Idaho, USA. As of 1st August Dr.
Christopher JV Wheatley, Economic Geologist, joined the Board and
further enhanced Nubian's technical expertise.
Nubian still has property interests in the DRC
and Zambia and is in the process
of further re‐organizing these interests, as well as focusing on
precious metals in new areas. The company is expecting first drill
results from its Nevada gold
prospect and first sampling results of its Idaho Pb-Zn-Ag prospect
within the next two to three weeks.
The company has 7.2 million shares outstanding;
net cash and receivables of approx. CAD $1.2
million, and a Board with extensive mining and geological
expertise. For further information, please visit Nubian's
website www.nubianr.com.
Mr. Treadgold will take over from Mr. Chisholm
effective 1st September, 2011 and the prime objective
will be to complete Nubian's restructuring. Mr. Graham Chisholm has resigned as CEO and from the
Board of Nubian, after five years tenure, effective 31st
August to proceed with other business. Nubian thanks Mr. Chisholm
for his contributions and wishes him success in his new
ventures.
Lead Director of Nubian, Markus Janser comments: "We are pleased to have
found an in‐house solution for Nubian to guarantee continuity at
highest level. Larry has proven leadership and extensive mining
business valuation skills, which will help Nubian achieve its goals
and prepare the company for future growth".
"Markus Janser"
Markus Janser
Lead Director
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.
SOURCE Nubian Resources Ltd.