Nubian Completes Acquisition of Nine Properties in Nevada, Montana, New Mexico and Idaho, USA

Abbotsford, British Columbia, November 1 (ots/PRNewswire) -

Nubian Resources Ltd is pleased to announce the acquisition of a
portfolio of nine exploration properties situated in Nevada, Montana,
New Mexico and Idaho, USA, from Timber Wolf Minerals Ltd.

The portfolio consists of nine separate properties with
unpatented claims on gold and base metals targets which include
Excelsior Springs, Nevada and Worthing Canyon (Sedex), Idaho, where
Nubian Resources Ltd is the lessee. One additional property has been
leased out and one sold, subject to certain payment conditions.

The transaction includes Excelsior Springs in Esmeralda County,
Nevada over which Nubian entered into a lease agreement with Timber
Wolf Minerals in August 2010, and subsequently concluded a 30/70
Joint Venture agreement with Paradigm Minerals (USA) Corporation (a
wholly-owned subsidiary of Global Geoscience Ltd., a public company
listed on the Australian Securities Exchange) regarding exploration
of the property. Updated promising drill results were reported in
September 2011. With the acquisition of the Excelsior Springs
property, Nubian becomes the sole owner of any Net Smelter Royalty
due on the unpatented claims of Excelsior, and on the other
properties in the Timber Wolf Minerals portfolio.

The transaction price for 100% ownership of the 217 unpatented
claims on the nine properties is USD $260,000. USD $100,000 will be
paid on closing of the transaction and the remainder is payable in 36
monthly installments of USD $ 4,618 per month, including interest at
2.5% per annum.

Nubian has also arranged a placement of $130,000 in principal
amount of convertible notes with its directors and officers. The
notes will have a term of 2 years, bear interest at 10% per annum
compounded and payable annually, and be convertible at the option of
the holder into common shares at a price of $0.18 per share. The
offering remains subject to Exchange approval.

Nubian still has property interests in the DRC and Zambia and is
in the process of re-organizing the interests. The company has 7.2
million shares outstanding; net cash and receivables of approx. CAD
$1.1 million, and a Board with extensive mining and geological
expertise. For further information, please visit Nubian's website
http://www.nubianr.com.

CEO of Nubian, Larry Treadgold comments: "The acquisition of the
Timber Wolf properties adds significant value and potential to the
Nubian portfolio. We will continue to identify and evaluate
additional properties that will be of value to Nubian and at the same
time enhance the value of existing properties by a strategic
exploration program".

"Larry Treadgold"
Larry Treadgold
CEO Nubian Resources Ltd

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:
Office: +1(604)859-3007
Jeannette Durand
Web Page:
jeannette@nubianr.com

http://www.nubianr.com

ots Originaltext: Nubian Resources Inc.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
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