Annual General Meeting of Shareholders
PRESS RELEASE 13-03 ANNUAL GENERAL MEETING OF SHAREHOLDERS
May 2, 2013 – Nubian Resources Ltd. (NBR:TSX.V) (the “Company”) announces that it held its Annual General Meeting of Shareholders (the “Meeting”) on Tuesday, April 30, 2013 at which Meeting the following individuals were re-elected directors of the Company: Markus Janser, David A. Fynn, Lawrence G. Treadgold and Christopher J.V. Wheatley. Shareholders approved the re-appointment of Morgan & Co., as auditors of the Company and continuation of the Company’s 10% rolling stock option plan. Disinterested Shareholders also approved the re-pricing of an aggregate of 355,000 stock options, to purchase common shares held by certain insiders of the Company, to $0.10 per share and the extension of an aggregate of 210,000 options to the maximum term of ten years from the original date of grant, subject to acceptance by the TSX Venture Exchange.
Immediately after the Meeting, the Board of Directors appointed the following officers of the Company:
Lawrence G. Treadgold Chief Executive Officer David A. Fynn, CA Chief Financial Officer Jeannette Durand Corporate Secretary
Markus Janser will continue his role as Lead Director of the Company and Dr. Christopher J.V. Wheatley will also continue his role as Technical Director, of which he is Chair of the committee.
David A. Fynn, Markus Janser and Christopher J.V. Wheatley were appointed members of the Audit Committee for the ensuing year, of which David A. Fynn is Chair.
Nubian is also pleased to announce that Global Geoscience (Global) has exceeded US$ 1,000,000 expenditure for exploration work on the Excelsior gold property. Consistent with the joint agreement between the two companies Global has paid Nubian US$ 50,000. Global is currently undertaking the next phase of geophysical exploration in order to identify additional targets prior to embarking on a further drilling program. In order to complete their earn-in Global will have to spend a further US$ 2,000,000 before 31st December 2014. The project is well funded through Global’s agreement with Osisko Mining Corp.
“Larry Treadgold”
Larry Treadgold CEO Nubian Resources Ltd
Office: (604) 859-3007 Jeannette Durand [email protected] Web Page: www.nubianr.com
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.