VANCOUVER, July 30, 2018 /CNW/ - Nubian Resources Ltd.
("Nubian" or the "Company") (TSX VENTURE: NBR) is pleased to announce that the Company has finalized the previously announced
acquisition of the Esquilache silver-lead-zinc project ("Esquilache") from Zinc One Resources Inc. ("Zinc One") through the
issuance of 1,638,151 common shares to Compañia Minera Vensix S.A.C., a company owned by Zinc One. The closing of the
Esquilache acquisition has been approved by the TSX Venture Exchange ("TSXV").
The Company also announces the results of recent financing activities, with the Company having received subscriptions for
2,000,000 units at a price of CDN $0.25 per unit, with each unit comprising one common share and
one-half of a transferable share purchase warrant (a "Warrant"), and with each whole Warrant exercisable for a period a 24
months at $0.40 (the "Units", and the "Private Placement", previously announced on May 29, 2018). On July 24, 2018, the Company closed the first tranche of the
Private Placement through the issuance of 1,600,000 Units, to raise gross proceeds of CDN $400,000. Insiders of the Company subscribed for 180,000 units aggregating CDN $45,000 and finder's fees in the amount of $6,000 in cash and 24,000 broker
warrants, each such broker warrant exercisable at CDN $0.25 per broker warrant into Units, were
issued to a registered dealer in relation to one subscriber. In accordance with regulatory requirements, all securities
issued under the Private Placement are subject to a four month and one day "hold period". The Private Placement is subject to
final approval by the TSX Venture Exchange.
All outstanding warrants that were scheduled for expiry on July 15, 2018 have been exercised by
warrant holders resulting in a further 4,300,000 common shares being issued pursuant to receipt of $258,000 in cash proceeds.
Proceeds of the Private Placement will be used to undertake a work program on the Esquilache Project including core drilling,
sampling, geological mapping, feasibility studies, metallurgical and mine permitting and for general corporate purposes. The
Esquilache Project includes the historical Esquilache underground silver mine and adjacent Virgen de Chapi prospect located
in the Puno Department of Southern Peru and features three main mineralized zones (Sepulvada, Creston and Mamacocha). The Project covers more than 1,600 hectares across a set of hills (4,900 meters ASL)
and valleys (4,300 meters ASL) where more than 200 mineralized veins and breccia showings have been mapped. These veins
form "horse tail" shapes and can be traced and sampled at surface. Nubian filed a National Instrument 43-101
technical report on the Esquilache Project in May 2018.
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.
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in
this news release which are not purely historical are forward looking statements, including without limitation any statements
concerning the Company's intentions, plans, estimates, beliefs or expectations regarding the future. Although the Company
believes that any such intentions, plans, estimates, beliefs and expectations in this news release are reasonable, there can be
no assurance that any such intentions, plans, beliefs and expectations will prove to be accurate. The Company cautions readers
that all forward looking statements, including without limitation those relating to the Company's future operations and business
prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could
cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised
to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking
statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to
update the forward looking statements, or to update the reasons why actual events or results could or do differ from those
projected in the forward looking statements. The Company assumes no obligations to update any forward looking statements, whether
as a result of new information, future events or otherwise.
SOURCE Nubian Resources Ltd.
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