Nubian Resources Ltd. provided an update on its 100% owned Esquilache Silver-Zinc Project located in southern Peru. Nubian contracted Atticus Geoscience Consulting S.A.C. of Lima, Peru for data compilation, 3D geological modelling, and mineral resource estimation of silver, zinc and gold mineralization on the Esquilache Project which comprises approximately 1,600 hectares of mining concessions. After revision of the historical database, compiled by previous operators, the Nubian geological staff and Atticus have re-modelled 26 primary and secondary veins and have identified 26 additional veins containing significant mineralization that were not previously recognized on surface by historical geological mapping.

The Project database includes 7,075 samples from surface and underground sampling and from two historical drilling programs, totalling approximately 5,500 metres The main Esquilache vein system consists of 12 sub-parallel, sub-vertical, primary veins found in the Mamacocha and Creston zones, along with more than 40 secondary veins occurring in vein swarms in dilatant structural settings. Two mineralized breccia bodies have been recognized along structural jogs in the Elvira Vein located in the Mamacocha Zone. Mineralization in these veins has been shown to range consistently between 3.0 and 12.0 oz/t Ag.

A gold-rich zone also has been recognized in the Mamacocha Zone with an average of 1.94 g/t Au, 138 g/t Ag, and 1% Zn from the Ivet Vein. Atticus is currently modelling these vein sets with the objective of establishing drill targets to locate high-grade silver zones that would warrant initiating pre-feasibility studies as a preliminary step towards eventual production on a selective basis. As yet, no field work has been conducted by Nubian to verify all of the veins and vein systems. Esquilache covers the mineralized core of a large caldera structure that hosts a system of polymetallic, low- to intermediate-sulfidation, epithermal to mesothermal veins containing silver, lead, zinc, copper and significant gold grades.

Esquilache last saw production in 1962 when Peruvian silver producer Hochschild Mining reported the mining and processing of 1,000,000 tonnes of ore at 116.57 g/t Ag, 3.2% Pb, 4.8% Zn, 0.3% Cu over a 12-year period from 1950 to 1962. Esquilache is located in the Cordillera Occidental of southern Peru and Bolivia, on trend with major silver, gold, and copper projects including Las Bambas, Tintaya, San Gabriel in Peru and Eloro's Potosi silver deposit in Bolivia. Esquilache is located 32 km east of Buenaventura's San Gabriel Mine project that recently announced the receipt of all required permits to begin mine construction, with projected production of between 120,000 to 150,000 ounces of gold per year over a 10+ year mine life.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's Property.