Nubian Resources Ltd Announces Management Change
ABBOTSFORD, BC, Aug. 25, 2011 /PRNewswire/ – Nubian Resources Ltd (TSX.V:NBR)
is pleased to announce the appointment of Larry Treadgold as CEO of
Nubian Resources Ltd., following the resignation of Graham Chisholm.
Mr. Treadgold joined the Board of Nubian in September 2010 as Non
Executive Director and was appointed Chairman of the Technical
Committee. His contribution towards the re structuring of the company
and in particular his metallurgical and mining expertise has been
Nubian over the last 12 months has sold off all of its mining equipment,
raised working capital through private placement, acquired and joint
ventured its gold property in Nevada for accelerated exploration,
restructured its shares through a reverse split, and signed a 100%
lease for a Pb Zn Ag prospect in Idaho, USA. As of 1(st) August Dr. Christopher JV Wheatley, Economic Geologist, joined the
Board and further enhanced Nubian’s technical expertise.
Nubian still has property interests in the DRC and Zambia and is in the
process of further re organizing these interests, as well as focusing
on precious metals in new areas. The company is expecting first drill
results from its Nevada gold prospect and first sampling results of its
Idaho Pb-Zn-Ag prospect within the next two to three weeks.
The company has 7.2 million shares outstanding; net cash and receivables
of approx. CAD $1.2 million, and a Board with extensive mining and
geological expertise. For further information, please visit Nubian’s
Mr. Treadgold will take over from Mr. Chisholm effective 1(st) September, 2011 and the prime objective will be to complete Nubian’s
restructuring. Mr. Graham Chisholm has resigned as CEO and from the
Board of Nubian, after five years tenure, effective 31(st) August to proceed with other business. Nubian thanks Mr. Chisholm for
his contributions and wishes him success in his new ventures.
Lead Director of Nubian, Markus Janser comments: “We are pleased to have
found an in house solution for Nubian to guarantee continuity at
highest level. Larry has proven leadership and extensive mining
business valuation skills, which will help Nubian achieve its goals and
prepare the company for future growth”.
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.
SOURCE Nubian Resources Ltd.