Nubian Resources Ltd. announced results further drill results on its maiden drill program and on the surface geochemistry sampling completed at the Company's Yandoit Gold Project in the Central Victorian Goldfields, Australia. A total of 1,164 metres of reverse circulation and 743.3 metres of diamond core was completed during 2021, focused on the Goldsmith and Golconda lines of lode in the northeast of the project area. Other areas along and across trend were also tested by 2,711 reconnaissance soil samples, identifying dozens of new prospect areas.

The Yandoit Gold Project is characterized by the presence of multiple north-south striking quartz vein systems, each spaced approximately 50 metres apart, marked by quartz float and abundant historic workings. The Company believes that less than 5% of the prospective strike length of quartz vein has been drill tested at Yandoit. Alluvial goldfields drain the areas of quartz reef, and were the source of production during the 19th century.

The completed program focused on the northern extension of the Goldsmith and Golconda mines which were in production until approximately 1908, and were known for rich structurally controlled shoots of free gold. Highlights from the drill holes disclosed in this release (GDD003 – GDD006) include 0.5m @3.97 g/t Au from 87.0m and 0.2m @ 2.04 g/t from 90.4m in GDD005. True thickness is interpreted to be greater than 60% of drilled thickness.

2021 drilling and surface sampling results from Yandoit have highlighted the widespread presence of prospective quartz reef with laminated textures and sulphide content that provide encouragement for gold mineralization. Bonanza grade gold occurs in the Goldsmith trend up to 2m @ 52.4 g/t gold from 28m in hole YRC008 indicates the potential for rich shoots similar to that which supported decades of historic production. Furthermore, Nubian sampling during 2021 identified gold at surface within sulphide minerals that may not have been recovered by historic miners.

Nubian has identified multiple drill targets on EL6274 in the west of the project area. The Sardinia line of lode lies 1.6 km's to the west of previous drilling where soil sampling and ground penetrating radar has already been completed. Surface rock geochemistry by the previous tenement holder here returned up to 0.61 g/t Au and 2,041 ppm arsenic.

Permitting for a drilling program is now in progress. The completed pXRF soil campaigns have identified dozens of potentially gold bearing locations. Final batches of soil identified as containing elevated arsenic have been screened and are in process of being delivered at the Genalysis Intertek assay laboratory to confirm arsenic anomalism and detect the value of gold.

Interestingly, pXRF analysis of soil returned occasional silver which may contribute as a diagnostic in targeting and defining these newer prospect areas.