Alexander Nubia International Inc.
TSX VENTURE : AAN

Alexander Nubia International Inc.

May 17, 2011 09:29 ET

Alexander Nubia International Inc. Completes $5 Million Offering

TORONTO, ONTARIO--(Marketwire - May 17, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Alexander Nubia International Inc. ("ANII" or the "Company") (TSX VENTURE:AAN) is pleased to announce that it has completed its previously announced offering (the "Offering") of common shares of the Company (the "Common Shares"). The Offering was made by way of a short form prospectus offering in all provinces of Canada other than Québec through a syndicate of underwriters led by Wellington West Capital Markets Inc. and including Cormark Securities Inc. and Industrial Alliance Securities Inc. An aggregate of 25,000,000 Common Shares were issued pursuant to the Offering at a price of $0.20 per share for total gross proceeds of $5,000,000.

The Company intends to use the net proceeds from the Offering to expand its drilling and exploration programs and for general corporate purposes.

"This is a significant step which, with continued favourable drilling results, will enable the Company to reach an important milestone of advancing the Abu Marawat property to a 43-101-compliant resource. The goal at this stage is to develop a 43-101-compliant inferred resource of 1,000,000 oz. Au inclusive of the other valuable metals, Cu, Zn, and Ag. Roscoe Postle Associates Inc., a globally recognized consulting firm, has been engaged to complete the 43-101 technical report by the end of 2011" commented Alexander Massoud, Chief Executive Officer of the Company.

About Alexander Nubia International Inc.:

The Company is a mineral exploration company whose mission is to explore for precious and base metal by implementing technical expertise of developed mineral-exploration jurisdictions, such as that of Canada, in resource-rich Africa. Initially, the Company established Egypt as its platform country, focusing on the under-developed Nubian Shield in the Eastern Desert, where historic mining of gold and copper dates back to Pharaonic times. The Company controls the Abu Marawat Concession, which covers an area of 1027 km2 in the Eastern Desert. The concession contains the main Abu Marawat, Semna (auriferous quartz veins), and Hamama (VMS) properties and other gold and base-metal exploration targets.

For more information on the Company please visit our web site at www.alexandernubia.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities referred to herein in the United States or in any jurisdiction where such offer or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a "U.S. person" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. No public offering of securities is being made in the United States.

Nothing in this announcement constitutes an offer of securities for sale in any jurisdiction where it is unlawful to do so.

Cautionary Note Regarding Forward-Looking Statements: Certain statements contained herein constitute forward-looking statements, including statements concerning the anticipated use of proceeds and anticipated drill results. We believe the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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.

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