NWI.CN · 2021-11-24 12:00:00

Nuinsco Reports 495m Critical Elements & Phosphate Mineralization Intersection: Longest reported to date at Prairie Lake

Exploration Programs

Nuinsco Reports 495m Critical Elements & Phosphate Mineralization Intersection:

Longest reported to date at Prairie Lake

Toronto, November 24, 2021 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI) today

announced that the infill drill core sampling program at its 100%‐owned Prairie Lake project near Terrace Bay,

Ontario (“Prairie Lake” or the “Project”) has produced an intersection of 495m (starting from 2.0m down hole) of

continuous critical elements and phosphate mineralization in diamond drill hole NP0810.

The intersection of rare earth elements, niobium, tantalum, and phosphate mineralization in DDH NP0810 is

notable for several reasons: mineralization extends to 480m vertically, amongst the deepest intersections obtained

on the Project; the mineralization is continuous from surface to the end of the drill hole; grade of mineralization is

consistent with mineralization obtained from drill holes up to one kilometre away; the drill hole is located north of

the Southwest Area (“SW Area”) where a succession of 100m‐plu s drill intersections have bee n reported recently

by the Company; several of the critical elements occurring with in the intersection are of sufficient grade to be of

potential economic interest. Th e results from NP0810 plainly d e m o n s t r a t e t h e e x t e n s i v e c o n t i n u i t y o f

mineralization throughout the Prairie Lake complex rocks, both laterally and to depth.

“Drill hole NP0810 was drilled to test Jim’s Showing, near the centre of the Prairie Lake complex (see map below),

and is approximately 500m north of the centre of the SW Area wh ere most of the sampling has been conducted

this year,” said Paul Jones, Nuinsco’s CEO. “The analytical results from NP0810 reinforces our understanding of the

extensive endowment of Critical Elements and phosphate mineralization in the Prairie Lake complex rocks and the

implications for economic potential. Prairie Lake is a vast repository of these Critical Elements of economic interest

with superb logistical attributes. As conversion of the world’ s economies to increased electrification accelerates

demand and prices for these Critical Elements are forecast to i ncrease substantially; a process that has seen the

price of neodymium (neodymium oxide 99.0% purity) alone increase from circa US$60/kg to circa $140/kg between

August 2020 and the present (source: kitco.com).”

Analytical results from the 495 m of continuous mineralization (from 2‐497m) of niobium (Nb), tantalum (Ta),

phosphate (P2O5), and rare earth elements (REE) including lanthanum (La), cerium (Ce), samarium (Sm), neodymium

(Nd), praseodymium (Pr), yttrium (Y), and scandium (Sc) are tabulated below. DDH NP0810 was collared to evaluate

the mineralization at Jim’s Showing, located near the centre of the Prairie Lake complex and treated as a distinct

mineralized domain within the Prairie Lake Exploration Target (see “Prairie Lake ET” table below).

Hole ID From

(m)

Width

(m)

Rock

Type

P2O5

(%)

Nb2O5

(%)

Ta2O5

(%)

(g/t)

∑REE

(g/t)

New intersections:

NP0810 2 125 123 CRBT 3.04 0.116 0.0026 4 88 375 765 92 349 57 1731

Combined extended intersections:

NP0810 2 497 495 ‐‐ 3.72 0.091 0.0025 5 119 404 921 117 396 74 2036

Principal rock type: CRBT=carbonatite; IJ‐PYX BX = breccia with crbt matrix & ijolite or pyroxenite clasts; MEL‐IJ = melano‐ijolite.

∑REE = Sum of Sc, Y, La, Ce, Nd, Sm; Y ‐ yttrium, La ‐ lanthanum, Ce ‐ cerium, Nd ‐ neodymium, Sm – samarium.

P2O5 ‐ phosphate, Nb2O5 – niobium oxide, Ta2O5 – tantalum oxide, 1g/t = 1 ppm

The mineralization of economic interest contained within the Pr airie Lake intrusion occurs throughout the surface

exposure of the Prairie Lake complex where sampled and extends to unknown depths below the deepest drilling

yet conducted (circa 525m vertically). There is no indication that mineralization diminishes with depth and the

analytical results from DDH NP1003 demonstrate the widespread and continuous mineralization hosted by the

rocks within the complex. The Prairie Lake complex hosts a suit e of elements of economic interest identified as

Critical Elements defined under the Canadian Minerals and Metal s Plan within a very large domain of mineralized

rock that is extremely favourably located from a logistical per spective with rail, road, shipping, and power

infrastructure already established. Demand for many of the elements found at Prairie Lake is projected to

substantially increase and secure supply chains in mining‐friendly regions are currently being sought.

The Project consists of 46 mineral claims covering an area of ~630 ha. Prairie Lake is superbly located, easily

accessed by an all‐weather road from the TransCanada Highway lo cated 28 km to the south. The ET is defined by

59 diamond drill holes.

All samples were analysed by Activation Laboratories (ActLabs) in Ancaster, Ontario. Samples were analysed for a

whole rock and trace element ICP analytical package as well as for niobium, tantalum, and zirconium oxides using

a fusion XRF method. An internal Quality Control Quality Assura nce (QAQC) program was implemented with four

QAQC samples (blanks and reference standards) added into the sampling stream.

Prairie Lake Drilling & Trenching by Target Area1:

1 Trench lengths are calculated as cumulative length of samples along trench.

S W Jim's Showing East NE Other

Areas Total

Historic Drill Holes

(1969‐1983)

Drill Holes 16 11 1 0 17 45

Metres 1351.7 938.4 34.1 0 1528.5 3852.7

Drill Holes (2007‐

2010)

Drill Holes 21 10 0 0 1 32

Metres 6632 1692.4 0 0 101 8425.4

Trenches (2010) Trenching 1 0 2 2 0 5

Metres 377.7 0 433.0 754.55 0 1562.2

Prairie Lake ET2:

2 A full description of methodology used to estimate the Prairie Lake project Exploration Target is contained in the Technical Report dated 30

November 2018 prepared by P&E Mining Consultants Inc. that is filed on SEDAR. The potential quantity and grade of the ET is conceptual in

nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the discovery

o f a m i n e r a l r e s o u r c e . T h e r e i s n o N a t i o n a l I n s t r u m e n t 4 3 ‐ 1 0 1 – Standards of Disclosure for Mineral Projects preliminary economic

assessment in respect of the Prairie Lake ET.

Laura Giroux, P.Geo, Chief Geologist, acts as Nuinsco's Qualifi ed Person under National Instrument 43‐101. Ms.

Giroux has reviewed and approved the technical contents of this news release.

About Nuinsco Resources Limited

Nuinsco Resources has over 50 years of exploration success and is a growth‐oriented, multi‐commodity mineral

exploration and development company focused on prospective oppo rtunities in Canada and internationally.

Currently the Company has four properties in Ontario – the high ‐grade Sunbeam gold property near Atikokan, the

Dash Lake gold property near Terrace Bay, the large multi‐commodity (rare‐earths, niobium, tantalum, phosphate)

Prairie Lake project near Terrace Bay, and the Zig Zag Lake property (lithium, tantalum) near Armstrong. In addition,

Nuinsco has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.

Forward‐Looking Statements

This news release contains certain "forward‐looking statements." All statements, other than statements of historic fact, that address activities, events or

developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward‐looking statements. For ward‐looking statements are

often, but not always, identified by the use of words such as " seek," "anticipate," "believe," "plan," "estimate, “expect," an d "intend" and statements that an

event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward‐looking statements reflect

the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward‐looking statements are subject to a number of risks

and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward‐lookin g statements, and even if such

actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Nuinsco. Factors

that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings,

capital and other costs varying significantly from estimates, p roduction rates varying from estimates, changes in world copper and/or gold markets, changes

in equity markets, uncertainties relating to the availability a nd costs of financing needed in the future, equipment failure, unexpected geological conditions,

imprecision in resource estimates, success of future developmen t initiatives, competition, operating performance of facilities , environmental and safety risks,

delays in obtaining or failure to obtain tenure to properties and/or necessary permits and approvals, and other development and operating risks. Any forward‐

looking statement speaks only as of the date on which it is mad e and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or

obligation to update any forward‐looking statement, whether as a result of new information, future events or results or otherw ise. Although Nuinsco believes

that the assumptions inherent in the forward‐looking statements are reasonable, forward‐looking statements are not guarantees of future performance and

accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SW Jim's Showing East NE Total

REEs

La (ppm) Lanthanum 275 ‐ 340 295 ‐ 360 305 ‐ 370 200 ‐ 250 280 ‐ 340

Ce (ppm) Cerium 650 ‐ 790 670 ‐ 820 670 ‐ 820 450 ‐ 550 650 ‐ 790

Sm (ppm) Samarium 55 ‐ 70 55 ‐ 70 55 ‐ 70 50 ‐ 60 55 ‐ 70

Nd (ppm) Neodymium 295 ‐ 360 290 ‐ 360 320 ‐ 390 235 ‐ 290 300 ‐ 360

Y (ppm) Yttrium 85 ‐ 100 90 ‐ 110 80 ‐ 100 135 ‐ 170 85 ‐ 100

La+Ce+Sm+Nd+Y (ppm) 1360 ‐ 1660 1400 ‐ 1720 1430 ‐ 1750 1070 ‐ 1320 1370 ‐ 1660

Additional Elements (as oxides)

P2O5 (%) Phosphate 3.0 ‐ 4.0 3.5 ‐ 4.5 2.5 ‐ 3.0 2.5 ‐ 3.5 3.0 ‐ 4.0

Nb2O5 (%) Niobium 0.095 ‐ 0.115 0.100 ‐ 0.120 0.040 ‐ 0.050 0.085 ‐ 0.105 0.090 ‐ 0.110

Ta2O5 (ppm) Tantalum 18 ‐ 25 25 ‐ 30 5 ‐ 7 10 ‐ 12 18 ‐ 21

Volume ‐ m3 (million) 140 ‐ 175 12 ‐ 14 13 ‐ 16 2 ‐ 3 170 ‐ 210

Tonnes (million) 435 ‐ 530 35 ‐ 45 40 ‐ 50 7 ‐ 8 515 ‐ 630

To learn more, please visit www.nuinsco.ca or contact:

Paul Jones, CEO Sean Stokes, Executive VP Cathy Hume, Consultant Instagram:

@nuinscoresources

[email protected] [email protected] [email protected] Twitter: @NWIResources

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