Nubian Receives TSXV Approval to Close Acquisition of Yandoit Advanced Gold Project in Victoria, Australia
Nubian Receives TSXV Approval to Close
Acquisition of Yandoit Advanced Gold Project
in Victoria, Australia
TORONTO
,
Nov. 23, 2020
/CNW/ - Nubian Resources Ltd. (TSX-V: NBR) ("Nubian" or the
"Company") is pleased to announce that the Company has received TSX Venture Exchange approval
to proceed with closing the Company's acquisition of a 60% interest in the Yandoit Gold Project (the
"Project"), situated in the historic Daylesford gold corridor of central
Victoria, Australia
. The Project
consists of approximately 38 square kilometre (3,800 ha) of property interest held under one Mining
Licence and two Exploration Licences, containing six historic gold mines. In connection with the
acquisition, the Company's wholly-owned subsidiary Blackwood Prospecting Pty Ltd ("Blackwood")
will now proceed with the closing anticipated to occur
Thursday, November 26
, 2020.
ABOUT NUBIAN
Nubian Resources Ltd. is a public traded precious and base metals exploration company listed on
the TSX Venture Exchange. The Company is managed by a team of experienced mining and
geological professionals. Nubian's main asset is the Esquilache Silver-Zinc Project located within the
Tintaya porphyry copper belt of southern Peru. In
May 2020
, Nubian entered into an agreement to
acquire and develop the Yandoit Gold Project in central
Victoria, Australia
.
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.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward-looking information
and are based on Nubian's current belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. In particular, this release contains forward looking
information relating to, among other things, statements with respect to the completion of the
acquisition, the terms and conditions of the acquisition and the potential benefits of the acquisition
and the Project. Various assumptions or factors are typically applied in drawing conclusions or
making the forecasts or projections set out in forward-looking information. Those assumptions and
factors are based on information currently available to Nubian. Although such statements are based
on reasonable assumptions of Nubian's management, there can be no assurance that any
conclusions or forecasts will prove to be accurate.
Forward-looking information contained in this news release is based on certain factors and
assumptions regarding, among other things, the Project and other similar matters. While Nubian
considers these assumptions to be reasonable based on information currently available to them, they
may prove to be incorrect. Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements to
be materially different from any future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks inherent in the exploration and
development of mineral deposits, including risks relating to changes in project parameters as plans
continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to
changes in mineral prices and the worldwide demand for and supply of minerals, risks related to the
COVID-19 pandemic and current global financial conditions, increased competition, access and
supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to
the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title
and environmental risks and risks relating to delay or failure to satisfy the closing conditions to the
Acquisition and the Private Placement.
The forward-looking information contained in this release is made as of the date hereof, and Nubian
is not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained herein, investors should not place
undue reliance on forward-looking information. The foregoing statements expressly qualify any
forward-looking information contained herein.
SOURCE
Nubian Resources Ltd.
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http://www.newswire.ca/en/releases/archive/November2020/23/c8868.html
%SEDAR: 00024798E
For further information:
please contact Martin Walter, Chief Executive Officer, Nubian Resources
Ltd., at +1-416-389-5692 or [email protected].
CO: Nubian Resources Ltd.
CNW 13:24e 23-NOV-20