Nebu Resources Inc. (TSX VENTURE:NBU) - 

MALLARD PROPERTY

Nebu Resources Inc. ("Nebu" or the "Company") (TSX VENTURE:NBU) is pleased to
announce the acquisition of the right to earn a 100% interest in an extensive,
highly prospective land position (the "Mallard Property") adjacent to the north
of the Augen Gold Corp.'s Jerome Property, and northwest of Trelawney Mining and
Exploration Inc.'s Cote Lake Property.


Highlights:



--  The Mallard Property covers 11,600 acres (290 mineral claim units) in
    Mallard Township 
--  Covers the location of historic gold occurrences and the extensions of
    historic gold occurrences 
--  Diamond drilling on or very near the Mallard Property (exact locations
    for some holes uncertain at this time) returned gold values of up to
    0.20 ounces gold per ton over 7.1 feet (6.9 g/t over 2.2 meters) and
    0.054 ounces gold per ton over 20.5 7 feet (1.9 g/t over 6.25 meters)
    (Noranda - Beryl Resources) 
--  One hole drilled to test a parallel gold zone approximately 366 meters
    to the northeast on the Mallard Property assayed 0.155 ounces gold per
    ton over a 12.6 foot core length (5.3 g/t over 3.84 meters) 
--  Just east of the Mallard Property, historic drilling in 1959 intersected
    gold mineralization that assayed 0.20 ounces per ton gold over a core
    length of 13.5 feet (6.9 g/t over 4.11 meters) 
--  Other parallel, northwest striking shears, quartz veins and gold
    occurrences have been reported on and near the Mallard Property, none of
    which have been properly evaluated 
--  The Mallard Property covers 9 kilometers of the large shear zone and
    geological terrain intruded by felsic intrusions 
--  Extension of the shear zone between the two gold occurrence areas is
    largely covered by overburden and has never been drill tested over the
    4000 meter interval 
--  Extensive areas of strong shearing, strong carbonate alteration and
    quartz veining reported on and near the Mallard Property in limited
    historic data 
--  Most areas of gold mineralization on and near the Mallard Property
    remain mostly untested 
--  Historic ground geophysical surveys indicate the presence of
    chargeability anomalies in the area of the historic gold occurrences
    indicating the likely presence of significant accumulations of sulphide
    mineralization in proximity of the gold occurrences 
--  Several areas of known felsic intrusions similar to the main host to
    gold mineralization on the Trelawney and Augen Gold properties to the
    southeast 
--  Comprehensive exploration program to commence immediately 



Click on link to view map: http://neburesources.com/pdfs/NebuCompilationMap.pdf.

Terms of the acquisition

Nebu has the option to earn 100% interest in the entire 290 claims unit property
by making a series of payments totaling $352,000 and issuing a total of
1,100,000 common shares of the Company to the group of five vendors, one of whom
is a Non Arm's Length Party to the Company by virtue of being a director of
Nebu. In addition, $200,000 of exploration expenditures must be completed by the
second anniversary.


Bruce Durham, P. Geo. is a Qualified Person within the terms defined by National
Instrument 43-101 and is the non-independent Qualified Person responsible for
the information contained in this press release. Mr. Durham is experienced in
all aspects of the work completed and has visited the project site. All
technical data contained in this release is of a historical nature and as such
should not be unduly relied upon.


OTHER MATTERS

Further, the Company announces that it is issuing a total of 2,000,000 options
to officers, directors and consultants of the Company. The options entitle the
optionees to acquire the common shares of Nebu at the price of $0.15 for a
period of up to five years. 


ABOUT NEBU RESOURCES INC.

Nebu Resources Inc. is a junior exploration company focused on gold exploration
in Ontario, Canada, in four specific and distinct areas: Trelawney area,
Timmins, Quest Lake in the Thunder Bay mining district and Burntbush, Ontario,
exploring the Ontario extension of the Casa Berardi Deformation Zone. Nebu's
shares are listed for trading on the TSX Venture Exchange under the symbol NBU.
Nebu currently has 60,123,976 common shares issued and outstanding.


Visit our website at www.neburesources.com.
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