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NUBIAN PROVIDES UPDATE ON EXCELSIOR SPRINGS FOLLOW-UP DRILLING BY ATHENA GOLD CORPORATION
NUBIAN PROVIDES UPDATE ON EXCELSIOR SPRINGS FOLLOW-UP DRILLING BY ATHENA GOLD CORPORATION...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n \n \n \n NUBIAN PROVIDES UPDATE ON EXCELSIOR SPRINGS FOLLOW-UP DRILLING BY ATHENA GOLD CORPORATION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 1, 2022\n \n \n /CNW/ - Nubian Resources Ltd. (TSXV: NBR) (OTCQB: NBRFF) (\"Nubian\" or the \"Company\") is pleased to announce that Athena Gold Corporation (CSE: ATHA) (\"Athena\") has begun a follow-up Reverse Circulation drilling program at the Excelsior Springs Project, located in\n \n Esmeralda County, Nevada\n \n (\"Excelsior Springs\").  This follow-up drill program has been planned to further test the previously announced high grade gold discovery through a focused step out drilling program (see Nubian's press release of\n \n June 29, 2022\n \n ).\n \n \n \n \n \n \n \n \n \n Nubian owns 50 million shares of Athena representing a 39.6% ownership stake in Athena and holds a 1% net smelter returns royalty on Excelsior Springs.  Nubian is considering plans to distribute the 50 million shares held by it, pro rata, to Nubian shareholders as a return of capital transaction (see press release of\n \n June 22, 2022\n \n ). A registration statement on Form S-1 covering the resale and distribution by Nubian to its shareholders of the Athena shares held by Nubian was filed by Athena with the U.S. Securities and Exchange Commission. The Board of Directors believes it is in the best interests of the Company to evaluate the follow-up drill program prior to making a decision on the timing of the return of capital transaction. Nubian expects to evaluate its options again in 2023 with respect to the Athena shares and further update shareholders at that time.\n \n \n \n ABOUT NUBIAN RESOURCES\n \n \n \n Nubian is a publicly traded precious and base metals exploration company managed by a team of experienced mining and geological professionals.  Nubian's projects are focused in key mining jurisdictions in central\n \n Victoria\n \n and\n \n Tasmania, Australia\n \n and\n \n Peru\n \n .\n \n \n \n Neither the TSX Venture Exchange nor its Regul...