Nubian Resources Closes Private Placement

JULY 15, 2016 – Nubian Resources Ltd. (“Nubian” or the “Company”) (TSX VENTURE: NBR) is pleased to
announce that it has closed a non-brokered private placement (“Private Placement”) announced June 24,
2016, as amended July 6, 2016, by the issuance of 6,000,000 units (“Units”) at a purchase price of CDN $0.05
per Unit for gross proceeds of CDN $300,000. Each Unit consists of one common share in the capital of the
Company and one transferable share purchase warrant, each warrant entitling the holder to purchase one
common share in the capital of the Company on or before July 15, 2018, at a purchase price of CDN $0.06 per
share.

All securities issued by the Company pursuant to the Private Placement are subject to a hold period of four months and one day and cannot be resold until November 16, 2016. No finder’s fees were paid.

The Company intends to allocate the net proceeds as follows: (i) lease payment BLM fee and final down payment to maintain mining claims on its Excelsior Springs Property located in Esmeralda County, Nevada – CDN $130,000; (ii) regulatory filing fees and audit fees – CDN $50,000; (iii) outstanding liabilities – CDN $50,000; and (iv) general working capital – CDN $70,000. The Private Placement is subject to final approval of the TSX Venture Exchange.

FOR FURTHER INFORMATION PLEASE CONTACT:

Larry Treadgold
Chief Executive Officer
Nubian Resources Ltd.
Office: 604 870-4988
Jeannette Durand: [email protected]
Web Page: www.nubianr.com