Mar. 7, 2011 (Filing Services Canada) -- Alexander Nubia International Inc. (AAN - TSX Venture), ("Alexander Nubia" or the "Company") is pleased to announce the preliminary results of seven diamond-drill holes (AAM-001 to AAM-006 and AAM-008) and the completion of diamond-drill hole AAM-009 on its Abu Marawat Property in the Abu Marawat Concession; one of two concessions held by the Company in the Eastern Desert of Egypt.
A summary of results based on average grades over the drill-hole length are as follows:
Hole ID From To Length Au Ag Cu Zn
Metre Metre Metre Ppm Ppm % %
AAM-001 52.0 57.0 5.0 1.39 25 0.76 0.67
AAM-002 71.0 77.0 6.0 2.04 38 2.78 1.09
AAM-003 87.1 104.1 17.0 2.50 64 0.30 3.04
AAM-004 68.5 91.5 23.0 4.01 70 0.55 3.23
including 83.5 89.5 6.0 12.06 202 1.03 10.36
AAM-005 84.1 88.1 4.0 1.84 50 0.23 2.15
AAM-005 100.1 104.1 4.0 4.26 24 0.35 2.48
AAM-006 41.2 52.2 11.0 4.54 66 3.75 0.55
including 45.2 51.2 6.0 5.30 84 6.57 0.87
including 48.2 50.2 2.0 12.18 165 8.30 1.77
AAM-007 Pending
AAM-008 6.0 80.0 4.0 0.08 9 1.25 0.02
AAM-008 212.5 212.5 0.0 3.94 57 0.68 3.88*0
Summary
The initial diamond-drill holes were designed to test, verify and build upon a historical resource of 131,000 oz Au resource established in 1990 based on 19,500 metres of drilling by the previous operator, Minex. Pending are the final assay certificates from ALS Chemex confirming the above assays. Only those sections believed to contain significant precious and base-metal mineralization were sampled; further assaying is required of the entire drill lengths for AAM-001 to AAM-008.
AAM-001 twinned hole of previous operator Minex AMD-03.
AMD-03 intersected 7.5m 4.15 Au g/t, 56 Ag g/t, 1.41 Cu, 1.34 Zn
AAM-003 and AAM-005 tested the down-dip extension of the vein, demonstrating grade and vein continuity. Faulting has been identified in AAM-008 and is believed to have off-set, to the east, the northern continuation of the vein structure along strike.
AAM-004 twinned Minex's AMD -12.
AMD-12 intersected a 22.5 metres wide mineralized envelope between 65.00 and 87.5 metres containing three significant mineralized zones at: 65.0 to 69.5 metres, 75.0 to 76.5 metres, and 81.0 to 87.5 metres. The weighted average of the three zones is 3.29 g/t Au, 53 g/t Ag, 0.95% Cu and 1.95% Zn.
AAM-005, a down-dip extension of AAM-004, shows a mineralized envelope of 8 metres.
AAM-006 intersected 11.0 metres with average grades of 4.54 Au g/t, 66.36 Ag g/t, 3.75% Cu, 0.55% Zn. A twin of Minex AMD-01 intersecting 7.5 metres with average grades of 6.07 Au g/t, 110.7 Ag g/t, 1.98% Cu, and 0.5% Zn
AAM-009 is the first diamond-drill hole designed to test the geophysical anomaly. Mineralization is dominated by 5-10% disseminated pyrite with scattered intervals of up to 8 cm of massive pyrite. From 97 to 237 metres (end of the hole) the core contained (10% - 20%) significant amounts of disseminated pyrite with some sections up to 30 cm long described as massive sulphides (>50% pyrite). Near the bottom of the hole disseminated to semi-massive pyrite/chalcopyrite grains form distinct bands at a very low angle to the core axis. The banded nature of the sulphides is suggestive of formation along depositional boundaries typical of VMS deposits.
Drill Program
Drilling will continue to explore both the northern and southern extension of the CVZ vein along strike with follow-on drilling that will test further the down-dip potential. It will also continue to test the geophysical chargeability anomaly.
The Company's CEO, Mr. A. Alexander Massoud said: "Overall, we are very pleased with the first set of results. They serve to validate the technical interpretations we developed in 2009 and 2010 and establish the basis to upgrading the 131,000 oz Au historical resource to a substantially larger NI 43-101 complaint resource. Further supporting our geological model for continuity of the vein structure both along strike and at depth. Equally encouraging are the visual estimates of sulphides AAM-009 which is the first hole to test the broad 1200 x 300 m chargeability anomaly to the east of the CVZ."
Egypt and Concession Agreement
Similar to Oil & Gas concession agreements awarded through an international bid process to companies such as BP, Eni Group, Apache Corporation and Shell, the Abu Marawat and Fatiri Concession Agreements owned by the Company are decreed laws. This provides comfort to Alexander Nubia as to the title integrity during times of political transition. Although the current political environment has caused operating challenges, they have been minor, and we've been able to continue to advance our exploration of the Abu Marawat Property, operating one diamond drill rig without interruption, and we anticipate mobilizing a second one in the near term.
All assay results provided are preliminary, pending the finalized assay certificate from ALS Chemex and full ICP-61 including assay on other sections.
The technical information in this press release was prepared, reviewed and approved by Dr. John Payne (Ph.D, P. Geo) Vice President of Exploration for Alexander Nubia and Ralph Gonzalez (P. Geo), Project Manager of Alexander Nubia. Both individuals are Qualified Persons under National Instrument 43-101 regulations.
About Alexander Nubia International Inc.
AAN is a mineral exploration company whose mission is to implement the technical expertise of developed mineral-exploration jurisdictions, such as that of Canada, in resource-rich Africa. Initially, AAN has established Egypt as its platform country, focusing on the under-developed Eastern Desert, where historical mining of gold and copper dates back to Pharaonic times. AAN presently controls the Abu Marawat concession in Egypt. The Abu Marawat concession, which covers an area of 1,370 km2, contains the main Abu Marawat, Semna , Hamama VMS Property and other gold and base-metal exploration targets. The concession is located in Egypt's Eastern Desert as part of the Nubian Shield.
For more information on Alexander Nubia please visit our web site at www.alexandernubia.com or contact:
A. Alexander Massoud
President & Chief Executive Officer
Egypt: +2 (0) 22 287 6914
Canada: +1 (877) 607-4747
Email: amassoud@alexandernubia.com
Donald M. Cameron, CA
CFO
Canada: +1 (877) 607-4747
Email: dcameron@alexandernubia.com
Cautionary Note Regarding Forward-Looking Statements
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 news release.
The securities of Alexander Nubia International Inc. described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. 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.
Source: Alexander Nubia International Inc. (TSX.V - AAN) http://www.alexandernubia.com
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com