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File: #409171-v2-AAN - Press Release Re Additional Shares for Debt Settlement 22 May 2015.pdf

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FOR
  IMMEDIATE
  RELEASE
                       
  

                                                ALEXANDER
  NUBIA
  INTERNATIONAL
  INC.
  

                                            ANNOUNCES
  SHARES
  FOR
  DEBT
  SETTLEMENT
  

May
   22,
   2015
   �
   Alexander
   Nubia
   International
   Inc.
   (the
   "Company")
   (TSX-V:
   AAN)
   announces
   that
   it
   has
  
entered
   into
   a
   settlement
   agreement
   with
   certain
   creditors
   of
   the
   Company
   pursuant
   to
   which
   the
  
Company
  will
  issue
  common
  shares
  (the
  "Shares")
  in
  full
  and
  final
  settlement
  of
  the
  amounts
  owing
  to
  
such
  creditors.
  
  Specifically,
  the
  Company
  agreed,
  subject
  to
  approval
  of
  the
  TSX
  Venture
  Exchange,
  to
  
issue
   an
   aggregate
   of
   819,319
   Shares
   at
   a
   deemed
   price
   of
   $0.125
   per
   Share
   to
   settle
   $102,414.90
   of
  
debt
   as
   part
   of
   an
   overall
   settlement
   and
   write-off
   of
   approximately
   $161,000
   of
   debt.
   
   The
   Company
  
chose
   to
   settle
   this
   outstanding
   indebtedness
   with
   Shares
   in
   order
   to
   preserve
   its
   working
   capital
   for
  
operations
   and
   the
   exploration
   activities
   outlined
   in
   connection
   with
   the
   closing
   of
   a
   non-brokered
  
private
  placement
  of
  the
  Company
  on
  March
  5,
  2015.
  
  All
  Shares
  issued
  in
  connection
  with
  the
  shares
  
for
   debt
   transaction
   are
   subject
   to
   a
   four-month
   statutory
   hold
   period,
   in
   accordance
   with
   applicable
  
securities
  legislation.
  
  


  About
  Alexander
  Nubia
  International
  Inc.:
  
Alexander
  Nubia
  (TSX-V:
  AAN)
  is
  in
  the
  business
  of
  exploring
  for
  and
  developing
  of
  economic
  gold
  and
  
copper
   deposits
   in
   the
   Central
   Eastern
   Desert
   of
   the
   ANS.
   
   The
   Company's
   100%-owned
   concessions,
  
Abu
  Marawat
  and
  the
  Fatiri,
  between
  them
  cover
  2,772
  km2
  of
  underexplored
  ground.
  
  Evidence
  of
  gold
  
and
  copper
  mining
  on
  the
  concessions
  dates
  the
  many
  surface
  workings
  to
  pre-historic
  (Copper
  Age)
  and
  
Old
  Kingdom
  (Pharaonic),
  through
  Ptolemaic
  and
  Roman
  and
  into
  Early
  Arab
  times.
  
  Several
  historic
  gold
  
mines
  and
  numerous
  gold
  showings
  and
  gossans
  occur
  within
  the
  two
  concessions.
  
  

The
   Eastern
   Desert
   is
   host
   to
   a
   number
   of
   historically-significant
   gold
   mines.
   The
   world's
   oldest
   gold
  
mine
  map
  for
  Wadi
  Hamad,
  the
  Turin
  Papyrus
  Map,
  was
  prepared
  for
  Ramesses
  IV;
  it
  dates
  to
  1,160
  BC
  
and
   describes
   the
   wadi
   (dry
   river
   bed)
   routes
   to
   these
   important
   gold
   mine
   sites.
   
   The
   Sukari
   gold
   mine,
  
controlled
   by
   Centamin
   [TSX:
   CEE]
   was
   a
   historical
   gold
   mine,
   dating
   back
   to
   New
   Kingdom/Ptolemaic
  
and
  Roman
  age.
  (Source:
  Klemm
  and
  Klemm
  (2013):
  Gold
  and
  Gold
  Mining
  in
  Ancient
  Egypt
  and
  Nubia,
  
Springer-Verlag,
  649
  pp)
  
  Sukari,
  located
  300
  km
  to
  the
  South
  of
  Abu
  Marawat
  Concession,
  contains
  7.7
  
Moz
   of
   proven
   and
   probable
   gold
   reserves
   at
   1.05
   g/t
   Au.
   
   Gold
   production
   began
   at
   Sukari
   in
   2009;
  
forecasted
   production
   for
   2015
   is
   420,000
   ounces
   of
   gold
   at
   a
   cash
   cost
   of
   $700
   per
   ounce.
   Gold
  
recovery
   is
   88%
   and
   head
   grade
   is
   1.40
   g/t
   Au.
   Gold
   mineralization
   at
   Sukari
   has
   been
   intersected
   to
  
depths
  of
  1,350
  m
  below
  the
  wadi
  surface
  (source:
  Centamin
  website).
  

Abu
   Marawat
   and
   the
   Fatiri
   concessions
   are
   underlain
   by
   a
   Proterozoic-aged
   Pan-African
   greenstone
  
belt
   of
   the
   ANS,
   which
   has
   been
   intruded
   by
   at
   least
   two
   main
   ages
   of
   granodiorite
   intrusions.
   Gold-
sulphide
  mineralization
  is
  of
  the
  mesothermal
  (orogenic),
  quartz-carbonate
  vein-type
  and
  is
  associated
  



409171 v2
                                                                             -2-


with
   major
   NNW
   and
   NE
   trending
   shear-zones.
   Alteration
   includes
   epidote
   (distal),
   carbonate
  
(intermediate)
   and
   sericite-quartz
   (proximal).
   
   Similar
   geological
   settings
   include
   the
   greenstone
   belts
   of
  
the
  Yilgarn
  of
  Western
  Australia,
  the
  Birimian
  of
  West
  Africa
  and
  the
  Abitibi
  in
  Quebec,
  Canada.
  
  

The
  ANS
  covers
  both
  sides
  of
  the
  Red
  Sea
  and
  includes
  parts
  of
  Egypt,
  Saudi
  Arabia,
  The
  Sudan,
  Eritrea
  
and
   Ethiopia.
   
   Significant
   VMS
   deposits
   in
   the
   ANS
   include
   Barrick
   [TSX:
   ABX]
   and
   Ma'aden
   50:50%
   JV
   of
  
Jabal
  Sayid
  in
  Saudi
  Arabia,
  Nevsun
  [TSX:
  NSU]
  Bisha
  Main
  and
  Harena
  in
  Eritrea,
  La
  Mancha's
  Hassai
  and
  
Hadal
  Awatib
  in
  the
  Sudan,
  and
  Sunridge
  [TSX:
  SGC]
  Emba
  Derho,
  Debarwa
  and
  Adi
  Nefas
  in
  Eritrea.
  
  
  

An
   example
   of
   the
   size
   and
   grade
   of
   these
   deposits
   is
   La
   Mancha's
   HadalAwatib
   East,
   which
   has
   54.2
   Mt
  
of
  Indicated
  Resources
  in
  primary
  sulphide
  mineralization
  at
  grades
  of
  1.0%
  Cu,
  1.11
  g/t
  Au
  and
  0.8%
  Zn,
  
and
  13.25
  Mt
  of
  Inferred
  Resources
  at
  1.2%
  Cu,
  1.0
  g/t
  Au
  and
  0.5%
  Zn
  and
  has
  a
  strike
  length
  of
  2,500
  
m,
  mineralization
  widths
  of
  up
  to
  100
  m,
  has
  been
  drilled
  to
  400
  m
  and
  geophysics-projected
  depths
  of
  
mineralization
  to
  900
  m.
  
  
  

Cautionary
  notes:
  The
  QP
  has
  been
  unable
  to
  verify
  the
  information
  reported
  for
  HadalAwatib
  East
  and
  
that
   the
   information
   is
   not
   necessarily
   indicative
   of
   the
   mineralization
   of
   the
   Company's
   property.
  
Mineral
   reserves
   and
   or
   resources
   present
   on
   other
   VMS
   properties
   does
   not
   imply
   that
   similar
  
resources
  or
  mineralization
  will
  be
  identified
  on
  the
  Company's
  properties.
  

The
  Company's
  land
  package
  is
  located
  some
  400
  km
  southeast
  of
  Cairo
  and
  is
  enhanced
  by
  expanding
  
infrastructure,
   including
   access
   to
   two
   four-lane
   highways,
   railway
   right-of-way,
   high-voltage
   (capacity
  
220kV)
   power
   lines,
   and
   nearby
   major
   cities;
   Qena,
   on
   the
   Nile
   River,
   70
   km
   to
   the
   West,
   and
   Port
   of
  
Safaga,
  on
  the
  Red
  Sea,
  only
  50
  km
  to
  the
  East.
  

Qualifying
  Person:
  

The
   technical
   information
   contained
   in
   this
   News
   Release
   was
   prepared
   by
   Danae
   A.
   Voormeij,
   MSc,
  
PGeo,
   Exploration
   Manager
   for
   Alexander
   Nubia
   Inc.
   
   Ms
   Voormeij
   is
   a
   qualified
   person
   under
   CIM's
  
National
  Instrument
  43-101
  Standards
  of
  Disclosure
  for
  Mineral
  Projects.
  
  
  

For
  more
  information
  on
  Alexander
  Nubia
  visit
  us
  at
  www.alexandernubia.com
  or
  please
  contact:
  

A.
  Alexander
  Massoud
  
  
President
  and
  Chief
  Executive
  Officer
  
Egypt:
  
   +2
  (0)
  22
  287
  6914
  
Email:
  
   amassoud@alexandernubia.com
  

  
Giles
  Baynham
  
Director
  �
  Corporate
  Development
  
Canada:
  +
  1
  (778)
  806-5151
  ext.
  107
  
Email:
   gilesb@alexandernubia.com
  

  
General
  Information
  




409171 v2
                                                                          -3-


Canada:
  +
  1
  (778)
  806-5151
  
Email:
  
   info@alexandernubia.com
  

  
Cautionary
  Note
  Regarding
  Forward-Looking
  Statements
  

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.
  


  




409171 v2