Nebu Announces Mallard Property Amendment Agreement

Nebu Resources Inc. ("Nebu" or the "Company") (TSX VENTURE:NBU) announced that
it has entered into an amendment agreement (the "Amended Agreement") to vary the
agreement (the "Option Agreement"), pursuant to which the Company has an option
to acquire 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 (the "Acquisition") (see press release dated February 22, 2011
available on SEDAR at www.sedar.com for further details of the Mallard
Property). Pursuant to the Amended Agreement the parties have agreed to vary the
Option Agreement so that Bruce Durham ("Durham"), one of the five vendors under
the Option Agreement and a Non Arm's Length Party to the Company by virtue of
being a director of Nebu, is no longer a party to the Option Agreement. Any
obligation owed to or by, and any requirement for any consent or permission to
be given to or by, Durham under the Option Agreement shall be of no further
effect. 


Pursuant to the terms of the Option Agreement as amended by the Amended
Agreement, Nebu has the option to earn 100% interest in the Mallard 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 original four vendors. In addition,
$200,000 of exploration expenditures must be completed by the second anniversary
of the Option Agreement.


The Acquisition remains subject to the approval of the TSX Venture Exchange. 

ABOUT NEBU RESOURCES INC.

Nebu Resources Inc. is a junior exploration company focused on gold exploration
in Ontario, Canada, in 4 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.