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Live @ PDAC Interview with Nubian Resources’ Graham Chisholm, President and CEO

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Check out the company’s profile and evaluate their resources HERE, with RI Analytics.

RI: Tell us about your Excelsior Springs project in Nevada, how and why did you acquire it?

GC: We acquired it from Peter Wolf, who is a good friend of mine. The property is located in Nevada and it’s about 43 kilometers northeast of Goldfields which produced just over 10 million ounces of gold. We’re in the right area and in the right country and we liked the mineralization that we were seeing in the drill holes.

RI: At what stage is the project at already?

GC: 53 holes have been drilled on the property thus far and we’re liking the intervals of mineralization that we’re seeing.

RI: Looking at your result from October, you’re looking at a depth of 395 feet and you’re mineralized all the way down ranging from well over 1 g/t to 2.74 g/t?

GC: Yes. It’s an interesting deposit because it’s an oxide deposit and it’s shallow so we are seeing solid mineralization right at the surface through to 90 feet and very large intervals of up to 175 at just over 1 g/t.

RI: What kind of analysis have you done on the drill results so far?

GC: We’ve taken out of the drill core and we’ve had some of those holes re-looked. We’ve looked at some pub samples and done some additional mapping and sampling just to get a better idea on the mineralogy. We’re trying to ascertain what’s controlling the mineralization and if it’s a deeper magmatic source that is pushing up the gold bearing hydrothermal fluid that’s finding its way along the veins, or if it may be a deeper Cambrian gold porphyry at depth.

RI: You’ve done 53 drill holes and you’ve got a new drill program coming up. Tell us about that and what the end result will be of that program?

GC: I think what we want to achieve first of all is thorough mapping and sampling of the area. We also want to continue with some cross-sectional analysis of the existing holes that had been drilled. We want to really do this properly and spend time getting as much value out of mapping and sampling and then go into a drill program. We do expect to have a resource at the end of that exercise. We will have a large chunk of mapping and sampling done this year and may start some drilling towards the end of the year. A much larger drill program will take place in 2012.

RI: 53 drill holes is substantial and I think you’re learning a lot, how big is the project and how much area has that taken up and what is the strike length?

GC: The strike length is about 1,000 to 1,500 feet long and is about 300 feet wide. There are a couple miles around the area where we’re seeing a lot of interesting topography with a lot of quartz-like mineralization.

RI: How well financed is Nubian Resources today?

GC: We have $1.5 million in cash and investments. We’re well-positioned from that perspective. With low share capital we’re quite happy where we stand at the moment.

RI: You’ve got a really mixed background in the sense that you’re a technical guy but you’re also a very well-versed financial guy and equity fund raiser?

GC: I would say my core strength would be on the financial side. I also have very strong technical skills that I’ve learned along the way.

RI: There aren’t very many financial guys that can build a mine like you have.

GC: I wouldn’t say “build a mine”, but certainly installing a leach circuit and cobalt circuit and putting a small plant into production in Africa.

RI: Let’s talk about the African projects as well.

GC: We’ve got a very interesting project in the DRC called the Bayombwe project. It’s a  very large land mass of 3,000 kilometers. It’s essentially a cobalt property and we’re looking at a few joint venture partners right now that are showing some interest. We’ve done some mapping and sampling and continue to do more.

RI: For an investor, what would you consider to be Nubian Resources’ highlights?

GC: I think essentially the low interest share capital of $7.2 million and we are well financed at the moment with $1.5 million in cash and investments. We have a very strong and experienced board of directors that is led by Markus Janser who is very skillful as a strategist and is very well connected in capital markets in Europe. We have a very strong technical committee and great properties in the DRC and Nevada.