NEWS RELEASE - GREAT!
THIS IS GREAT, BUYERS ARE COMING IN NOW BEFORE NEXT NEWS IN A FEW DAYS ABOUT THEIR GOLD DISCOVERY, GET IN NOW BEFORE IT TAKES OFF!!!
Nebu Quadruples Land Position at North Denton
11/24/2009 12:12:28 PM - Market Wire
TORONTO, ONTARIO, Nov 24, 2009 (MARKETWIRE via COMTEX News Network) --
NebuResources Inc. (the "Company") (TSX VENTURE: NBU) is pleased toannounce the acquisition of a strategic land position adjacent to theDenton North Property where the Company's exploration program ispresently ongoing. The new property is contiguous to the north and westof the area being drill tested by Nebu and is adjacent to propertiesheld by Lakeshore Gold Inc. (formerly West Timmins Mining Inc. propertyprior to the recent merger) and Melkior Resources Inc.
TheDenton North Project borders the north part of the Lakeshore Gold Inc.land position approximately 35 km west of the main part of the prolificTimmins, Ontario gold camp.
The new property (to be known asthe "North Denton Extension"), consists of 28 unpatented mining claimunits covering an area of some 1120 acres underlain by a geologicalenvironment thought to be favorable for the discovery of goldmineralization in environments similar to those being evaluated by theCompany and also by its neighbors, Lakeshore Gold Inc. and MelkiorResources Inc.
There is no record of any significantexploration work having been undertaken on the area of the newacquisition, and the Company plans to commence exploration activitieson the property immediately.
Nebu has the right to earn up to a100% interest in the claims to which this release pertains by makingpayments totaling $200,000 and issuing 680,000 shares to the vendors bythe third anniversary of the agreement. The vendors will retain a netsmelter royalty of 2%, 50% of which may be purchased by the Company for$1,000,000.
Recent drilling on the North Denton propertyreported in a release dated November 12, 2009, included assay values ofup to 8.45 g/t gold over a 5.9 metre (19.3 foot) interval in a quartzsulphide vein zone in volcanic terrain.
In addition, theCompany reported gold mineralization at the contact of, and within afelsic intrusive rock type, that assayed assayed up to 17.12 g/t goldover 1.1 metres, averaging 5.96 g/t gold over 4.0 metres. That felsicintrusive body and a part of the favorable contact continues on to thenewly acquired property.
The Company continues to awaitadditional assay results for drill hole DE-09-4 that containedsightings of visible gold (Press Release Nov 12/09) and expects to bein a position to release additional drill results by the end of themonth.
Brian Murray, President and CEO commented, "Thisproperty addition fits with our goal to become a key player in the WestTimmins Camp. We know that investors are looking for high qualityjunior companies who have the ability to provide them with exceptionalgains. We will continue to use our expertise in the area to secure keyground and to effectively explore the properties for the benefit of ourshareholders."
OTHER NEWS - In additional news, the Company ispleased to announced it has engaged Contact Financial, based inVancouver, to develop and execute a comprehensive marketing andinvestor communications plan ("Fast Focus") to help raise awareness inconjunction with the existing communications strategy designed and runby Current Market Communications based in Toronto, over a 4-monthrenewable term, subject to TSX Venture Exchange approval.
ContactFinancial is a Vancouver-based strategic marketing and communicationfirm that will increase Nebu's exposure to industry stakeholders andinvestors. Contact Financial will be responsible for providing adviceto the company with respect to corporate development, producing anddistributing effective marketing communication tools, and increasinginvestor awareness.
Under the renewable agreement, ContactFinancial will receive a fee of $24,000 for an initial term of fourmonths and $6,000 per month, on a month-to-month basis, following.Contact Financial will further receive 225,000 incentive stock optionswith an exercise price to be determined during the month of December2009.
Bruce Durham, P. Eng., is the qualified person under thedefinitions established by National Instrument # 43-101 and is theperson responsible for the technical content of this release.
NebuResources Inc. is a junior exploration company focused on goldexploration in Ontario, Canada, in 3 specific and distinct areas: WestTimmins, Quest Lake in the Thunder Bay mining district and Burntbush,Ontario, exploring the Ontario extension of the Casa BerardiDeformation Zone. Nebu's shares are listed for trading on the TSXVenture Exchange under the symbol NBU.V. Nebu currently has 47,041,063common shares issued and outstanding.
Visit our website at www.neburesources.com.
Neitherthe TSX Venture Exchange nor its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of the contents of thisrelease.
Contacts: Nebu Resources Inc. R. Brian Murray (416)985-7810 Nebu Resources Inc. John V. Hickey (416) 903-6649 CMC ClarkKent (647) 519-2646 Contact Financial Keir Reynolds (604) 689-7422
SOURCE: Nebu Resources Inc.
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