PROJECTS IN HAND

SW DUNEIBET EL QULEIB BLOCK

A PRODUCTION SHARING AGREEMENT “PSA”
WAS SIGNED ON THE 30TH OF JULY 2019 BY AND BETWEEN:

SHALATEEN MINERAL RESOURCES COMPANY “SMRC” – (THE CONCESSION OWNER)

NUBIAN MINING COMPANY “NMC” – (THE CONTRACTOR)

WHERE THE DUTIES OF THE CONTRACTOR ARE AS FOLLOWS:

I.

DIRECTLY EXPLOIT AN AREA
OF 15 KM2 (EXPLOITATION
GRANT - DUNEIBET EL QULEIB
BLOCK) “PRIORITY”, AND

II.

PROCESS AND EXTRACT GOLD FROM ORE.UNDER THE SUPERVISION OF
SMRC.

THE MENTIONED BLOCK LIES WITHIN
THE VICINITY OF SOUTH ASWAN BLOCK
AND THUS, IT’S CONSIDERED A
STRATEGICAL PIVOT POINT IN REGARD
TO NMC’S EXPLORATION PROGRAM
FOR THE FOLLOWING REASONS:

  • LOGISTICS: PROXIMITY OF THE BLOCK
    TO THE ASPHALTIC ROAD
  • CONSTANT PRESENCE: A FIELD CAMP
  • FRUGALITY: REDUCTION OF
    OPERATIONS/EXPLORATION COSTS IN
    TERMS OF MOBILIZATION, SUPPLIES,
    AND PROXIMITY TO WORKING SITES

SOUTH ASWAN “UMM SHAKAIB” (Exploration Block)

BLOCK

SOUTH ASWAN BLOCK IS THE SOUTHERNMOST PART OF ASWAN BLOCK - SMRC CONCESSION BLOCK - AND COVERS A TOTAL AREA OF 666.07 KM2 , WHERE IT IS BOUNDED TO THE WEST BY LAKE NASSER, TO THE SOUTH AND EAST BY SIMILAR LITHOLOGICAL UNITS (ULTRAMAFIC, METASEDIMENTS, AND METAVOLCANIC UNITS) IN EMPTY BLOCKS, AND TO THE NORTH BY THE CONTINUATION OF ASWAN BLOCK.

SOUTH ASWAN BLOCK CONSISTS OF SEVERAL E-W TO NE-SW TRENDING MOUNTAIN CHAINS THAT ARE INTERCUT BY INCISED V-VALLEYS WHICH CONNECTS EVENTUALLY TO THE MAIN DRAINAGE DRY RIVER U-VALLEYS CONNECTED AT THEIR TIPS TO LAKE NASSER. IN TERMS OF TOPOGRAPHY, HIGH MOUNTAIN CHAINS ARE ON AVERAGE 300M ABOVE SEA-LEVEL WHERE THE HIGHEST RECORDED ELEVATION WAS THE PEAK OF DUNEIBET EL QULEIB MOUNTAIN “343M” AND LOWEST ELEVATION RECORDED WAS AT THE BOUNDARY BETWEEN U-VALLEYS AND LAKE NASSER “200 -190M”.

OUR LONG-TERM GOAL IS TO BECOME A LEADING, SUSTAINABLE AND EFFICIENT MEDIUM SIZED GOLD PRODUCERS.

SOUTH ASWAN EXPLORATORY BLOCK WAS PROMOTED THROUGH AN INTERNATIONAL STANDARD BIDDING PROCESS BY THE CONCESSION RIGHTS OWNER SHALATEEN MINERAL RESOURCES COMPANY (SMRC) IN JUNE, 2019. NUBIAN MINING COMPANY PARTICIPATED IN THAT BID AND SUBMITTED TECHNICAL AND FINANCIAL PROPOSALS. NMC PARTICIPATED IN THE SECOND ROUND OF BIDDING IN SEPTEMBER 2019, ULTIMATELY AFTER EVALUATION OF TECHNICAL AND FINANCIAL PROPOSALS AWARDING THE BID TO NUBIAN MINING COMPANY