Nebu Resources Inc.
TSX VENTURE : NBU

Nebu Resources Inc.

June 02, 2009 12:26 ET

Nebu Resources Inc. Continues to Acquire Prospective Gold Projects in Ontario

TORONTO, ONTARIO--(Marketwire - June 2, 2009) - Nebu Resources Inc. (TSX VENTURE:NBU) is pleased to announce that it has staked a significant land position in the Burntbush area of Ontario. A total of 45 claim units containing 654 claim units covering a nominal 10,500 hectares were staked as two contiguous claim blocks. Interest in the area relates to the gold and base metal potential of this under-explored greenstone belt.

Recent airborne geophysical surveys, combined with new geological observations and interpretations suggest that the western extension of the Casa-Berardi Deformation Zone ("CBDZ") is located within the Nebu staked claims. The gold deposits at the operating Les Mines Casa-Berardi gold mine are located within the CBDZ, approximately 30 km east of the Burntbush Project. Current exploration interest in the potential of the CBDZ to host additional gold mineralization is highlighted by the sale of 52 mining claims located in Dieppe Township (Quebec) by Virginia Mines Inc. to Agnico Eagle Mines Limited for $1,000,000 (in common shares). These claims are situated east of the Nebu property and west of the Les Mines Casa-Berardi along the CBDZ.

Compilation of historical assessment work will precede field work. A first stage exploration program to commence in August will feature geological, geochemical (including overburden drilling) and geophysical surveys, at an estimated cost of $400,000.

G.A. Harron, P.Eng., a qualified person under the definitions established by National Instrument 43-101 has reviewed the technical information disclosed in this release regarding this project.

The Company also wishes to announce that it has acquired through staking a 100% interest in three non contiguous gold properties located in the Quest Lake Area in northwestern Ontario.

The claim groups known as the Quill Lake, Hilltop Lake and Princess Lake Properties collectively cover an area of approximately 2000 hectares or 20 square kilometres and are located in the Sturgeon Lake Area approximately 20 kilometers east of the past producing Mattabi and Lyon Lake VMS Deposits.

The properties cover a gold bearing iron formation where surface samples taken in 1991 by a local prospector returned values upto 8.4 grams per tonne from a grunerite (an iron rich amphibole) bearing silicate iron formation containing minor amounts of pyrrhotite and arsenopyrite.

Hemlo Gold Mines briefing optioned the property in 1991 and 1992 and were successful in outlining two zones of sporadic gold mineralization: the Benderite Zone which includes the original gold occurrence was traced by Hemlo Gold Mines for over 150 meters along strike on surface with anomalous gold values reported within arsenopyrite-pyrrhotite bearing lean iron formation and the South Zone where gold values are associated with arsenopyrite bearing sheared chlorite schists, located sub-parallel and approximately 100 meters south of Benderite Zone. These results are based on public records and have yet to be verified by a Qualified Person on behalf of Nebu.

The company has retained MPX Geophysics Ltd. to complete a detailed 270 line kilometre airborne geophysical magnetic survey at a nominal 40 metre line spacing over the known gold bearing horizons with the objective of identifying targets for ground follow-up during the 2009 summer field program.

Bruce Mackie, P. Geo., a qualified person under the definitions established by National Instrument 43-101 has reviewed the technical information regarding this project as disclosed in this release.

About Nebu Resources Inc.

Nebu is a junior exploration company now focused on gold exploration projects in Ontario. It also has an interest in several gold properties in the west Timmins area, which it expects to drill later this year. Nebu currently has 36,604,173 common shares issued and outstanding.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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