Business
Nubian to Option Excelsior Springs Property
Mar. 28, 2011 (Canada NewsWire Group) -- ABBOTSFORD, BC, March 28 /CNW/ - Nubian Resources Lt...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n Mar. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nABBOTSFORD, BC, March 28 /CNW/ - Nubian Resources Ltd (TSXV: NBR) is\n pleased to announce that it has signed a definitive agreement with\n Paradigm Minerals USA Corporation, a wholly owned subsidiary company of\n Global Geoscience Ltd, a public company listed on the Australian\n Securities Exchange (ASX: GSC), for the option to earn a 70% interest\n in the Excelsior Springs Gold property in Esmeralda County, Nevada.\n Nubian presently has a 100% lease on the property.\n\n\n\nTo earn a 70% interest Paradigm will be required to pay Nubian $100,000\n USD cash and spend $3 Million USD on exploration over four years.\n Paradigm will solely fund and manage all exploration and property\n related costs on the property during the option phase.\n\n\n\nThe minimum exploration expenditure commitment required in the first\n year is $150,000 USD and assuming results are satisfactory an\n additional amount of $350,000 USD must be spent on exploration by July\n 31, 2012 a further $500,000 USD by December 31, 2013 and a further $2\n Million USD by December 31, 2014 to earn a 70% interest in the\n property. Nubian to receive $50,000 USD upon signing and a further\n $50,000 USD once Paradigm exercises its option interest in the\n property.\n\n\nAbout the Excelsior Springs Property\n\n\nThe Excelsior Springs Gold Prospect, including the Buster Mine, is\n located in westcentral Esmeralda County, Nevada approximately 50 miles\n WSW of ...