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Alexander Nubia secures an extension to the term of its exploration licenses from the Government of Egypt
Alexander Nubia secures an extension to the term of its exploration licenses from the Governme...
About this update from Aton Resources Inc.
[{"type":"text","content":"\nAlexander Nubia secures an extension to the term of its exploration licenses from the Government of Egypt\n\nAlexander Nubia secures an extension to the term of its exploration licenses from the Government of Egypt\nToronto, Ontario CANADA, April 23, 2013 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), is pleased to announce the approval by the Egyptian Mineral Resource Authority (\"EMRA\") to extend the term for the exploration phase on the Fatiri and Abu Marawat concessions.\nAlexander Massoud, Chief Executive Officer of the Company, said, \"We are pleased with the support shown by the Ministry of Petroleum and EMRA.  The extension to the exploration term is an important aspect in providing the Company due time to properly evaluate and advance the Fatiri and Abu Marawat concessions.  We believe that this encouraging decision reflects the Ministry of Petroleum's and EMRA's commitments to the development of Egypt's mineral resource sector.\"  \nHe further commented, \"The positive drill and trench results at the Hamama volcanogenic massive sulphide deposit confirm the potential for a significant VMS deposit within the Arabian-Nubian shield.  Successful development of this deposit will require a commitment from all stakeholders during these challenging times; securing the additional term for exploration of the licenses is an important step towards achieving this objective.\"\nThe award of the term extension to the licenses was a result of the Company's force majeure application to EMRA.  The force majeure application was submitted to EMRA based on delays associated with the political transition in Egypt, operating environment and global market conditions that impact the rate at which the Company is able to explore its two concessions.\nAbout Alexander Nubia International Inc.\nAlexander Nubia International Inc. is an established Canadian mineral exploration company that has been operating in Egypt since 2007.  It is committed to identifying, focusing on and advancing gold and base-metal projects in the Eastern Desert of Egypt.  The Company holds two exploration concessions in Egypt: Abu Marawat and Fatiri, which cover areas of 1,027 km2 and 1,745 km2, respectively.  The Company is focused on exploration within the Abu Marawat Concess...