NWI.CN · 2021-07-29 12:00:00

Nuinsco Announces 347m Intersection of Continuous Critical Metals & Phosphate Mineralization from Ongoing Infill Sampling Program at Prairie Lake

Drill Results Exploration Programs

Nuinsco Announces 347m Intersection of Continuous Critical Metals & Phosphate

Mineralization from Ongoing Infill Sampling Program at Prairie Lake

Toronto, July 29, 2021 – Nuinsco Resources Limited (“Nuinsco” o r t h e “Company”) (CSE: NWI), is pleased to

announce a continuous 347m intersection of Critical Metals and phosphate mineralization from diamond drilling at

its 100%‐owned Prairie Lake project near Terrace Bay, Ontario.

This previously unsampled diamond drill core from hole NP0809 has now produced a continuous 347m intersection,

starting 3m from surface, of niobium (Nb), tantalum (Ta), phosphate (P2O5), and rare earth elements (REE) including

lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y). The sampling program is ongoing

and will provide information to support the Company’s goal of e stablishing a mineral resource at Prairie Lake; it is

focussing on drill holes collared to intercept the Southwest (SW) Area (see map below) – this domain alone has an

Exploration Target (“ET”) of 435‐515 million tonnes with grades as tabulated in the “Prairie Lake ET” table below.

“The Company is of course very pleased that analyses from the infill sampling program is producing such extensive

domains of continuous rare earth, niobium, tantalum and phospha te mineralization,” said Paul Jones, Nuinsco’s

CEO. “We will incorporate the ne w data ultimately with the aim of upgrading the ET to a resource estimate. We

feel it is necessary to reiterate that this project is in a log istically excellent location, in a stable jurisdiction, has

mineralization occurring at surface, has been the subject of a metallurgical program with good results, and is

endowed with a diversity of increasingly sought‐after elements and commodities including those defined as Critical

Elements defined under the Canadian Minerals and Metals Plan (“ CMMP”). The significance of this asset is not

recognized, and it represents a substantial opportunity for the Company.”

A total of 98 drill core samples were collected from NP0809, a 525.58m long diamond drill hole. A continuous

interval of 347m has now been analyzed from 3m – 350m (approxim ately 200m vertically). NP0809 is one of ten

holes from the southeast half of the SW Area target from which samples have been submitted for analyses so far

this year (see map). Additional sampling, primarily from the northwest half of the SW Area target, will be completed

later this summer.

Hole ID From

(m)

Width

(m)

P2O5

(%)

Nb2O5

(%)

Ta2O5

(%)

(g/t)

∑REE

(g/t)

New intersections from current sampling program:

NP0809 3 17.05 14.05 3.35 0.121 0.002 68 262 594 299 52 1275

NP0809 69 108.59 39.59 3.27 0.082 0.004 67 277 611 311 54 1320

NP0809 119 132.88 13.88 1.94 0.176 0.005 61 243 582 295 53 1233

NP0809 176 205 29 3.04 0.165 0.003 80 340 774 360 60 1614

NP0809 257 285.87 28.87 2.25 0.139 0.004 55 255 571 272 47 1200

Combined extended intersection incorporating all sampling:

NP0809 3 350 347 3.18 0.109 0.003 77 289 686 303 57 1411

∑REE = Sum of 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

When combined with previously reported sampling (see press release dated January 7, 2008), the new results

extend the continuous intersection in hole NP0809 to 347m of 0.109% Nb2O5 and 3.18% P2O5 with 0.003 % (30 g/t)

Ta2O5 and 1411 g/t ∑REE.

Previous diamond drilling on the Prairie Lake property (2007 to 2010) has returned assays up to:

 1.008 % Nb2O5 over 1.0m (NP0711; 97.5‐98.5m; carbonatite)

 23.08 % P2O5 over 0.44m (NP1005; 336.27‐336.71m; carbonatite)

 474 g/t Ta over 1.0m (NP0711; 23.75‐24.75m; ijolite)

 2380 g/t Nd, 1910 g/t La and 4160 g/t Ce over 1.06m (NP1007; 428.0‐429.06m; carbonatite)

 590 g/t Sm and 887 g/t Y over 1.38m (NP1006; 165.92‐167.3m; carbonatite)

The Prairie Lake project consists of 46 mineral claims covering an area of ~630 ha. Logistically Prairie Lake is superbly

located, with ready access to power, road, rail and shipping in frastructure; it is easily accessed by an all‐weather

road from the TransCanada Highway 28 kilometres to the south. The mineralization identified is entirely contained

within the Prairie Lake carbonatite complex; the ET of 515‐630 million tonnes is defined by 59 diamond drill holes

with grades as tabulated below.

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.

Prairie Lake ET2:

2 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 of a mineral resource. There is no National Instrument 43‐101 – 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,

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

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

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.

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

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

@nuinscoresources

[email protected] [email protected] [email protected]

416 868‐1079 x 231

Twitter:

@NWIResources

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