Nebu Resources Inc.

Nebu Resources Inc.

November 10, 2010 13:47 ET

Nebu Resources Inc. Commences Drilling at Its Beehive Property in the Timmins Gold Camp, Ontario

TORONTO, ONTARIO--(Marketwire - Nov. 10, 2010) - Nebu Resources Inc. (TSX VENTURE:NBU) "Nebu" is pleased to announce the commencement of diamond drilling on its Beehive Property in the prolific Timmins Gold Camp. Drilling begins today, November 10, 2010.

NPLH Drilling Ontario Corporation has been awarded the surface diamond-drilling contract for approximately 3000 meters of NQ diamond drilling over 6 holes.

The primary focus of the initial drilling program is the evaluation of the gold potential of the southwestern portion of the property to host the extension of the gold mineralized zone extending from the southeast at the Naybob Mine currently being explored by Metals Creek and Goldcorp.

The secondary target is to explore the potential along strike from the historic Desantis and McEnaney gold mines located to the west of the west boundary of the Beehive property.

The Beehive Property consists of 11 patented mining units in the Timmins Mining Camp for a total of approximately 440 acres and lies immediately to the north of the Nabob (Kennilworth) mine which operated between 1932 and 1964 producing just over 50,000 ounces of gold and is reported to still host a resource of 135,500 tons grading 0.25 ounces gold per ton (8.6 g/t Au) in the North Zone and 600,000 tons grading 0.20 ounces gold per ton (6.9 g/t Au) in the South Zone.

Bruce Durham, P.Geo., a qualified person under NI-43-101 reviewed this release and is the person responsible for the technical information contained in this release. All technical data in this release is of a historical nature and has not been verified by a Qualified Person.

Nebu currently has 50,998,976 common shares issued and outstanding.

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
    (416) 903-6649
    Current Market Communications
    Clark Kent
    (647) 519-2646