2012-10-30 17:34:25 -
Toronto, Ontario CANADA, October 30, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), reiterates that it continues its exploration program focusing on the Hamama VMS deposit. The Company operates under a policy of full and clear disclosure with government of the Arab Republic of Egypt. Operating since 2007, the Company has a positive working relationship with all branches of government, including the Ministry of Petroleum, the Ministry of Investment and the Egyptian Mineral Resource Authority.
CEO & President, Alexander Massoud commented, "Under the current environment, Alexander Nubia has demonstrated an ability to effectively manage, operate and advance the Abu Marawat and Fatiri Concession, with an exploration program primarily focused on the Hamama VMS deposit. We are confident
that the government of Egypt will continue to address key issues to attract foreign investment to normalize the economy. We take our lead from established multinationals, like BP, who has recently committed to developing one of the largest gas finds in Egypt representing nearly a $10 billion investment over 5 years."
About Alexander Nubia International Inc.
Alexander Nubia International Inc. (TSX-V: AAN) is a Canadian exploration and development Company focused on the exploration of precious and base metals in the Eastern Desert of Egypt. The Company holds two exploration concessions: Abu Marawat (previously held by Centamin: TSX: CEE) and Fatiri, which cover a combined total area of 2,772 km2.
The Company is focused on exploration within the Abu Marawat concession where the Company's two main properties are situated. In this 1,027 km2 historical gold and copper mining district are numerous small workings including, historical small-scale mining at the Abu Marawat Deposit, Hamama - a volcanogenic massive sulphide deposit, and two past-producing gold mines (Semna and Sir Bakis). The principal projects, Abu Marawat and Hamama VMS, are located near excellent regional infrastructure. The projects are 35 kilometres apart and are within 30 kilometres of a highway, railway, and high-capacity electricity grid, and are near major cities: Qena, on the Nile River, and Safaga, on the Red Sea.
For more information on Alexander Nubia please contact:
A. Alexander Massoud
President and Chief Executive Officer
Egypt: +2 (0) 22 287 6914
Donald M. Cameron, CA
Chief Financial Officer
Canada: +1 (877) 607-4747
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.
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Source: Alexander Nubia International Inc. (TSX.V - AAN) www.alexandernubia.com
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