TORONTO, Oct. 21, 2021 /CNW/ - Nubian Resources Ltd.
(TSXV: NBR) (OTCQB: NBRFF) ("Nubian" or the "Company") is pleased
to provide a further update on its property option agreement (the
"Property Option Agreement") with Athena Gold Corporation
(OTCQB: AHNR) (CSE: ATHA) ("Athena") for the divestment of the
Company's Excelsior Springs exploration project (the "Property")
located in Esmeralda County,
Nevada, USA. Nubian is pleased to report that Athena
received listing approval from the Canadian Securities Exchange
(the "Exchange") with the shares commencing trading October 18, 2021 under the symbol
"ATHA". This listing fulfills the only outstanding
condition precedent to Athena's exercise of its option to acquire
the remaining 90% interest in the Property that it does not already
beneficially own and further triggers a 30 day completion time and
in connection therewith, the issuance of the remaining 45 million
shares of Athena to be issued to Nubian in consideration of the 90%
interest.
![Logo (CNW Group/Nubian Resources Ltd.) Logo (CNW Group/Nubian Resources Ltd.)](https://mma.prnewswire.com/media/1666951/Nubian_Resources_Ltd__Nubian_Provides_Update_on_Athena_Gold_Tran.jpg)
Martin Walter, President and CEO
of Nubian stated, "We are pleased that Athena has achieved listing
status on the Canadian Securities Exchange, allowing for finalizing
the Company's divestment of the Excelsior Springs Project unlocking
value for Nubian shareholders."
Details on the Property Option Agreement are included in
Nubian's press releases dated September 20,
2021, August 13, 2020 and
December 13, 2020.
ABOUT NUBIAN
Nubian Resources Ltd. is a publicly traded precious and base
metals exploration company listed on the TSX Venture Exchange. The
Company is managed by a team of experienced mining and geological
professionals. Nubian's projects are focused in key mining
jurisdictions in central Victoria
and Tasmania, Australia and
Peru.
For further information, please contact:
Martin Walter, Chief Executive
Officer, Nubian Resources Ltd., at +1-416-389-5692 or
martin@nubianr.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.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance, including the exercise, if any, by
Athena of the Second Option, and potential distribution of Athena
Shares and any listing of Athena Shares on any stock exchange. The
use of any of the words "could", "intend", "expect", "believe",
"will", "projected", "estimated" and similar expressions and
statements relating to matters that are not historical facts are
intended to identify forward-looking information and are based on
Nubian's current belief or assumptions as to the outcome and timing
of such future events. Actual future results may differ
materially. Although such statements are based on reasonable
assumptions of Nubian's management, there can be no assurance that
any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks
inherent in the exploration and development of mineral deposits,
including risks relating to changes in parameters of the Projects
as plans continue to be redefined, risks relating to variations in
grade or recovery rates, risks relating to changes in mineral
prices and the worldwide demand for and supply of minerals, risks
related to the COVID-19 pandemic and current global financial
conditions, increased competition, access and supply risks,
reliance on key personnel, operational risks, regulatory risks,
including risks relating to licenses and permits, financing,
capitalization and liquidity risks and title and environmental
risks.
The forward-looking information contained in this release is
made as of the date hereof, and Nubian is not obligated to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
applicable securities laws.
Because of the risks, uncertainties and assumptions contained
herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained herein.
SOURCE Nubian Resources Ltd.