Nubian Provides Update on Athena Gold Corporation
12 September 2024 - 10:00PM
Nubian Resources Ltd. (TSX-V: NBR | OTCQB: NBRFF) (“Nubian” or the
“Company”) is pleased to provide an update on Athena Gold
Corporation (“Athena”). Nubian owns 55 million shares of Athena,
representing an ownership stake of ~31% and holds a 1% Net Smelter
Return Royalty on Excelsior Springs, sold to Athena in 2021.
On September 11, 2024, Athena announced that it
had entered into a non-binding letter of intent a non-binding
letter of intent dated September 9, 2024 with Libra Lithium Corp.
("Libra"), a privately-held, grassroots explorer, whereby Athena
will acquire up to a 100% right, title and interest in the Laird
Lake and Oneman Lake gold projects in Ontario (the "Acquisition").
Laird Lake is favourably located in the Red Lake Gold Camp and is
hosted in a similar structural setting to Kinross Gold's Great Bear
project and West Red Lake Gold's nearby Madsen Mine. In connection
with the Acquisition, members of Libra's board and management teams
are expected to join Athena, with David Goodman, LLB, CFA, joining
the Board of Directors as Chairman, and Koby Kushner, P.Eng., CFA,
taking on the role of President, CEO and Director. John Power,
current President and CEO of Athena, is expected to remain as
Secretary and Director. Athena also announced that it plans to
redomicile to Canada. The Acquisition is expected to close on or
before October 10, 2024.
Full details of the Acquisition are available on
the link below.
https://www.accesswire.com/915842/athena-gold-announces-transformative-transaction-with-libra-to-create-a-premier-discovery-focused-gold-explorer-in-nevada-and-ontario-with-enhanced-board-and-management-team-and-plans-to-redomicile-to-canada
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
on key mining jurisdictions including Peru and Australia (central
Victoria and Tasmania).
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, without
limitation, the Athena Acquisition and value of the Athena Shares.
The use of any of the words "could", "intend", "expect", "believe",
"will", "projected", "estimated", "may" and similar expressions and
statements relating to matters that are not historical facts are
intended to identify forward-looking information and are based on
Athena and Nubian’s current beliefs 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 Athena and/or 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 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.
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