Nebu Resources Inc. Closes Financing of $550,000

Nebu Resources Inc. (TSX VENTURE:NBU) ("Nebu") is pleased to announce the
closing of a non-brokered private placement of $550,000 (the "Offering"). Nebu
issued 3,437,500 flow-through units (the "FT Units") at a price of $0.16 per FT
Unit. Each flow-through unit is comprised of 1 common share and one half of one
non-flow-through share purchase warrant, with each whole warrant having a term
of 24 months, and an exercise price of $0.25 in year 1 and $0.30 in year 2. Nebu
expects to close a second tranche of this financing next week by issuing an
additional 5,687,500 FT Units.


A cash finder's fee of $33,000, representing 6% of the gross proceeds of the
Offering, was paid by Nebu in connection with the Offering as well as the
issuance by Nebu of a non-transferable option (the "Finder Option") to acquire
257,812 units of Nebu (the "Finder Units"). The Finder Option is exercisable
into Finder Units for a period of 24 months following the closing of the
Offering at an exercise price of $0.16 per Finder Unit. Each Finder Unit will
consist of one common share of Nebu and one-half of one common share purchase
warrant of Nebu, with each whole warrant having a term of 24 months, and an
exercise price of $0.25 in year 1 and $0.30 in year 2.


The net proceeds from the Flow-Through Common Shares financing will be used to
fund ongoing exploration activities on the Company's properties in the Timmins
Gold Camp and on the Company's Burntbush Properties located on the western
extension of the Casa-Berardi Deformation Zone ("CBDZ"). The gold deposits at
the operating Les Mines Casa-Berardi gold mine are located within the CBDZ,
approximately 30 km east of the Burntbush Project. 


The securities issued pursuant to the Offering will be subject to a four month
hold period from the date of closing of the Offering.


Nebu currently has 54,436,476 common shares issued and outstanding.
www.neburesources.com.