Nebu Resources Inc.
TSX VENTURE : NBU

Nebu Resources Inc.

April 27, 2011 10:47 ET

Nebu Commences Drilling at Its Extensive Property Holdings in the Trelawney and Augen Gold District, Ontario

TORONTO, ONTARIO--(Marketwire - April 27, 2011) - Nebu Resources Inc. ("Nebu" )(the "Company")(TSX VENTURE:NBU) is pleased to announce the commencement of an initial diamond drill program on its extensive, highly prospective land position adjacent to the north of the Augen Gold Corp. ("Augen") Jerome Property and northwest of the Trelawney Mining and Exploration ("Trelawney") Cote Lake Property where Trelawney has just filed a report outlining an inferred mineral resource of more than 4.2 million ounces of gold.

Highlights

The initial drill program, part of a comprehensive exploration program planned for the spring and summer of 2011, will consist of approximately 1200 meters of diamond drilling over 6 holes. The targeted areas will test at least 6 separate and isolated buried gold targets on the eastern part of the extensive property along the direction of the known shearing on the property.

Several areas of known felsic intrusions similar to the main host of gold mineralization on the Trelawney and Augen Gold properties to the southeast are known to occur on the property. The company has recently completed compiling historic and recently completed magnetic and induced polarization anomalies over a portion of the property and has identified a number of untested targets that warrant diamond drilling. Historic ground geophysical surveys indicate the presence of induced polarization chargeability anomalies in the area of the historic gold occurrences indicating the likely presence of significant accumulations of sulphide or graphite mineralization in proximity of the gold occurrences.

Mallard Property

The Mallard Property covers 11,600 acres (290 mineral claim units) in Mallard Tp. in Ontario Canada. Most areas of gold mineralization on and near the property remain mostly untested, in part because gold mineralization in the area was first discovered in the 1930's when access was very difficult.

The property covers 9 kilometers of the large shear zone and geological terrain intruded by felsic intrusions. A number of northwest striking shears, quartz veins and gold occurrences have been reported on and near the property, none of which have been properly evaluated.

To view a map of the Mallard Property, click or cut and paste the following: http://neburesources.com/pdfs/NebuCompilationMap.pdf

The Company has the right to earn a 100% in the Mallard Property (the "Property), under the terms of an Option and Assignment Agreement (see Press Release dated February 22, 2011).

About Nebu Resources

Nebu Resources Inc. is a junior exploration company focused on gold exploration in Ontario, Canada, in 4 specific and distinct areas: Trelawney area, Timmins, Quest Lake in the Thunder Bay mining district and Burntbush, Ontario, exploring the Ontario extension of the Casa Berardi Deformation Zone. Nebu's shares are listed for trading on the TSX Venture Exchange under the symbol NBU.V. Nebu currently has 60,123,976 common shares issued and outstanding.

Mr. Bruce Durham P.Geo, a Qualified Person, is the Company's Qualified Person (QP) and is the non-independent Qualified Person responsible for the information contained in this press release. The Qualified Person is experienced in all aspects of the work completed, has visited the project site. All technical data contained in this release is of a historical nature and as such should not be unduly relied upon.

Visit our website at www.neburesources.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.

Contact Information

  • Nebu Resources Inc.
    R. Brian Murray
    President & CEO
    (416) 985-7810

    Nebu Resources Inc.
    John V. Hickey
    CFO
    (416) 637-2139

    Nebu Resources Inc.
    Clark Kent
    Current Market Communications
    (647) 519-2646