Nebu Intersects Significant Gold Mineralization in Initial Drill Holes at Beehive Property, Timmins

Nebu Resources Inc. (TSX VENTURE:NBU) ("Nebu") - 

BEEHIVE PROPERTY

Nebu is pleased to report significant assay results of the initial 4 diamond
drill holes program, totaling approximately 2400 metres, completed on the
Beehive Property in Timmins, Ontario, in November and December of 2010.


The gold mineralization in the drill results reported in this release is from
the area interpreted to be the strike extension of the Desantis and MacEneny
gold zones (see below).


The first of the four holes intersected a strong quartz carbonate tourmaline
vein zone that returned a number of gold values ranging up to 17.3 g/t over a
core length of 0.5 metres. Less than 10 metres below this high grade interval, a
series of gold values over a 9.7 metre core length averaged 2.73 g/t and
included a 1.7 metre interval that assayed 6.83 g/t gold.


Hole NM-10-2 intersected narrow zones of similar material although no interval
assayed more than 1 g/t gold. 


Hole NM-10-3 drilled 50 metres to the north of, and therefore deeper than hole
NM-10-1 intersected similar mineralization at two locations in the hole with the
upper intersection assaying 2.39 g/t over 2.4 metres and about 50 metres deeper,
7.56 g/t over 1.9 metres. 


The fourth hole, NM-10-4 was drilled approximately 300 metres to the west and
also intersected alteration and quartz veining, with the highest assay being
3.31 g/t gold over a 0.4 metre interval.


The zones of gold bearing quartz tourmaline veining remain open for expansion.

When the Company entered into the option agreement on the Beehive Property the
Company believed the main area of potential for the discovery of significant
gold mineralization on the property was the south-western portion of the
property that was interpreted to host the extension of the gold mineralized zone
extending from the southeast at the Naybob Mine currently being explored by
Metals Creek Resources Corp. and Goldcorp Inc. The secondary target at that time
was the potential for finding gold mineralization along strike from the historic
Desantis and MacEneny gold mines located to the west of the west boundary of the
Beehive Property where Lateegra Gold Corp. are exploring. 


This initial drill program, drilling did not test the target along the mutual
boundary with Metals Creek and Goldcorp. The Company expects that drilling will
resume in the next month on this boundary, though drilling may occur on the
Company's Bowman Property first. 


The true width of the mineralization in the holes drilled to date has not been
determined. Core samples were collected by consultants in the employ of the
Company and are subject to the Company's quality control program. Sampling was
conducted in Timmins, Ontario and sealed split core samples were transported to
Swastika Labs preparation facilities in Swastika, Ontario. Samples are regularly
assayed for gold by standard fire assay- ICP finish with a 30 gram charge. The
remaining half of the drill core is stored in Timmins. For quality control
purposes, blank, duplicate and reference standards were inserted into the sample
stream at irregular intervals. 


Mr. Bruce Durham, P.Geo, a Qualified Person, is the Company's Qualified Person
(QP) and is the non-independent Qualified Person responsible for the information
contained in this press release. The Qualified Person is experienced in all
aspects of the work completed, has visited the project site, examined the drill
core samples reported and has verified that the reported results meet the
Company's quality control standards.


BOWMAN PROPERTY

Initial results indicate significant targets have been identified in the area to
the west of the nearby historic Canadian Arrow Mine property recently optioned
by Murgor Resources. Murgor's first drill hole at that historic gold producing
property assayed 2.64 g/t gold over a core length of 59 metres.


The Company is actively involved in evaluating its entire property portfolio in
Northern Ontario and is currently awaiting final results from the initial
exploration program on its Bowman Property.


Nebu Resources Inc. is a junior exploration company focused on gold exploration
in Ontario, Canada, in 3 specific and distinct areas: West 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.V. Nebu currently has
60,123,976 common shares issued and outstanding.


Visit our website at www.neburesources.com.