Alexander Nubia International Inc. Announces Terms of Overnight-Marketed Equity Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Alexander Nubia International Inc. ("ANII" or the "Company") (TSX VENTURE:AAN)
is pleased to announce that, in connection with its previously announced
overnight-marketed public offering (the "Offering"), it has entered into an
agreement with a syndicate of underwriters led by Wellington West Capital
Markets Inc. and including Cormark Securities Inc. and Industrial Alliance
Securities Inc. (collectively, the "Underwriters"), to sell 25,000,000 common
shares in the capital of the Company ("Common Shares") at a price of $0.20 per
Common Share (the "Offering Price") to raise gross proceeds of $5,000,000
pursuant to a short-form prospectus.


The Company has granted to the Underwriters an over-allotment option to purchase
up to 15% of the number of Common Shares sold pursuant to the Offering at the
Offering Price, exercisable in whole or in part for a period of 30 days from and
including the closing of the Offering, to cover over-allotments, if any, and for
market stabilization purposes.


The Offering is expected to close on or about May 17, 2011 and is subject to
certain customary conditions and regulatory approvals, including the approval of
the TSX Venture Exchange.


The Company intends to use the net proceeds from the Offering to expand its
drilling and exploration programs and for general corporate purposes.


About Alexander Nubia International Inc.:

The Company is a mineral exploration company whose mission is to explore for
precious and base metal by implementing technical expertise of developed
mineral-exploration jurisdictions, such as that of Canada, in resource-rich
Africa. Initially, the Company established Egypt as its platform country,
focusing on the under-developed Nubian Shield in the Eastern Desert, where
historic mining of gold and copper dates back to Pharaonic times. The Company
controls the Abu Marawat Concession, which covers an area of 1027 km2 in the
Eastern Desert. The concession contains the main Abu Marawat, Semna (auriferous
quartz veins), and Hamama (VMS) properties and other gold and base-metal
exploration targets. 


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities referred to herein in the United States or in
any jurisdiction where such offer or sale would be unlawful. The securities
referred to 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 or for the account or benefit of a "U.S. person" (as defined in Regulation S
under the U.S. Securities Act) absent registration or an applicable exemption
from the registration requirements of the U.S. Securities Act. No public
offering of securities is being made in the United States.


Nothing in this announcement constitutes an offer of securities for sale in any
jurisdiction where it is unlawful to do so.


Cautionary Note Regarding Forward-Looking Statements: Certain statements
contained herein constitute forward-looking statements, including statements
concerning the anticipated closing date of the Offering and the anticipated use
of proceeds. We believe the expectations reflected in those forward-looking
statements are reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements included herein
should not be unduly relied upon. Closing could be delayed if the Company cannot
obtain necessary regulatory approvals within anticipated timelines and will not
be completed unless certain conditions customary for transactions of this kind
are satisfied. The forward-looking statements included in this press release are
made as of the date of this press release and the Company disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
expressly required by applicable securities legislation.