VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 13, 2016) – Alexander Nubia International Inc. (TSX VENTURE:AAN) (the “Company” or “Alexander Nubia“) is very pleased to announce the appointment of Mr. Anthony Clements and Mr. David Laing to its Board of Directors. These new appointments greatly increase the depth of operational and project development, financing and corporate experience at the Company and is a very timely addition as the Company advances its Egyptian projects, including the flagship Hamama deposit.
Mr. Laing
Mr. Laing was most recently the COO of True Gold Mining Inc., which developed a gold heap leaching operating in Burkina Faso and was acquired by Endeavour Mining Corporation in April 2016. Prior to joining True Gold, Mr. Laing was the COO and led the origination and execution of stream financing transactions of Quintana Resources, a base metals streaming company. He was also one of the original executives of Endeavour as the group grew from one mine in Burkina Faso to a 500,000 ounce gold producer in West Africa. He was an integral part of the acquisition and integration by Endeavour of three junior gold producers and led the feasibility of a fourth project in Burkina Faso.
Prior to these recent roles, Mr. Laing held senior positions in mining investment banking at Standard Bank in New York, technical consulting at MRDI in California, the Refugio project at Bema Gold Corp. and various roles at Billiton, Royal Dutch Shell’s mining business. He is currently a non-executive director of Sandspring Resources Ltd.
Mr. Clements
Anthony Clements is a former investment banker with Fox Davies Capital Limited, a London-based firm specializing in mining and oil & gas corporations. He began his career specializing in natural resources, having gained a B.Sc. in Economics followed by a post-graduate course in accountancy. He joined the Electricity Pension Fund in 1970 as Senior Investment Analyst before moving on in 1973 to the Post Office Pension Fund, latterly renamed Postel and then Hermes. Mr. Clements spent several years managing Postel’s resource portfolio before moving on to manage a billion dollar North American portfolio. In 1987 Mr. Clements moved over to the sales side of the investment industry, becoming involved with corporate finance and North American resource issuers in particular. Mr. Clements was formerly Head of Corporate Finance at ODL Securities, and prior to taking up his position with ODL Securities, he worked with several firms, including T. Hoare and Co. and Yorkton Securities Inc.
Mr. Clements and Mr. Laing join the Company at a key time in its development, as the exploration work continues to expand the strike and scope of the Hamama Project VMS system.
Mark Campbell, President and Chief Executive Officer stated: “We are very pleased to welcome Anthony and David to our Board, and they bring significant experience in financing, structuring and developing new projects which we are excited to use in advancing the Hamama Project. We are currently drilling the Hamama oxide and primary sulphides to a true vertical depth of 150 meters and to generate our maiden resource at Hamama West. We are working closely with the Egyptian Mineral Resource Authority (EMRA) to discuss the application of the updated mining law that came into effect towards the end of 2015.”
About Alexander Nubia International Inc.:
Alexander Nubia (TSX VENTURE:AAN) is in the business of exploring for and developing potentially economic gold deposits in the Central Eastern Desert of Egypt in the Arabian Nubian Shield (“ANS”). The Company’s 100%- owned concessions, Abu Marawat and Fatiri, between them cover 2,772 km of underexplored ground. Evidence of gold and copper mining in the concessions dates the many surface workings to pre-historic (Bronze Age) and Old Kingdom (Pharaonic), through Ptolemaic, Roman, Early Arab times and into the European Era of the early to mid 20th Century. Three historic gold mines occur within the two concessions: British miners produced gold at Sir Bakis, Semna and Abu Zawal into the 1950s.
Much of the gold-vein mineralization in the ANS is of the orogenic, quartz-carbonate-type and is associated with major north-northwest and northeast trending shear-zones. Centamin’s Sukari gold mine is located 400 km to the south of Abu Marawat, in the same mountain belt.
The Abu Marawat and Fatiri Concessions are underlain by the Proterozoic-aged Pan-African greenstone belt of the ANS. The ANS also underlies the Red Sea and large parts of Saudi Arabia, The Sudan, Eritrea and Ethiopia. Significant VMS deposits in the ANS include Barrick’s and Ma’aden 50:50% JV of Jabal Sayid in Saudi Arabia; Nevsun’s Bisha Main and Harena in Eritrea; La Mancha’s Hassai and Hadal Awatib in the Sudan and Sunridge Emba Derho, Debarwa and Adi Nefas in Eritrea. The Company’s Hamama gold-rich VMS shares key geological similarities with these major VMS deposits.
Similar geological settings to the ANS include the greenstone belts of the Yilgarn of Western Australia, the Birimian of West Africa and the Abitibi in Quebec, Canada. The ANS is most similar in age to the Birimian.
The Company’s land package, located 350-400 km southeast of Cairo, includes excellent infrastructure; Hamama has direct access to two four-lane highways, a zero-gradient railway bed that runs through Abu Marawat concession to a Red Sea port, multiple high-voltage (capacity 220kV) power lines that cross between the two concessions, a water pipeline and nearby major cities: Qena, on the Nile River, 70 km to the west, and Port of Safaga, on the Red Sea, 50 km to the east. The city of Luxor, ancient Thebes, is a two-hour drive from Hamama and has an international airport.
Qualified Person:
Rick Cavaney is Alexander Nubia’s Exploration Manager. As a fellow of the Australian Institute of Mining and Metallurgy (Aus.I.M.M) is a competent person under the Joint Ore Resources committee (JORC) Code and is a Qualified Person, as such term is defined in NI 43-101 of the Canadian Securities Administrators. Mr, Cavaney has reviewed and approved this release.
For more information on Alexander Nubia, visit us at www.alexandernubia.com.
Cautionary Note Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements. Since forward-looking statements address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mark W. Campbell
President and Chief Executive Officer
[email protected]
Alexander Nubia International Inc.
General Information
+1 (604) 727-1813
[email protected]
www.alexandernubia.com
