Nubian Resources Announces Private Placement Financing

Press Release 17-02

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION

IN THE UNITED STATES

NUBIAN RESOURCES ANNOUNCES PRIVATE PLACEMENT FINANCING

May 23, 2017 – Nubian Resources Ltd. (“Nubian” or the “Company”) (TSX VENTURE: NBR) is

pleased to announce a non-brokered private placement consisting of up to 2,000,000 units (“Units”)

at a price of CDN $0.20 per Unit to raise gross proceeds of up to CDN $400,000 (the “Private

Placement”). Each Unit will consist of one common share in the capital of the Company and one-half

of a transferable share purchase warrant. Each who le warrant will entitle the holder thereof to

purchase one additional common share in the capital of the Company for a period of twenty -four

months from the closing date, at a purchase price of CDN $0.30 per share.

The Company may pay finder’s fees on a portion of the Private Placement in accordance with

applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under

the Private Placement will be subject to a four month and one day “hold period” under applicable

Canadian securities legislation.

Proceeds of the Private Placement will be used for potential future property appr aisals, property

and maintenance and general working capital.

The Private Placement is subject to approval of the TSX Venture Exchange.

FOR FURTHER INFORMATION PLEASE CONTACT:

Larry Treadgold

Chief Executive Officer

Nubian Resources Ltd.

Office: 604-870-4988

Jeannette Durand: [email protected]

Web Page: www.nubianr.com

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 p urely 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, inclu ding 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 Comp any assumes no obligations to update any

forward looking statements, whether as a result of new information, future events or otherwise.