NWI.CN · 2021-09-01 12:00:00

Nuinsco Announces Seventh Intersection of More than 100m of Continuous Critical Elements & Phosphate Mineralization at Prairie Lake

Drill Results

Nuinsco Announces Seventh Intersection of More than 100m of Continuous Critical

Elements & Phosphate Mineralization at Prairie Lake

Toronto, September 1, 2021 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI) today

announced an intersection of 118. 6m of Critical Elements and ph osphate mineralization obtained from on‐going

drill‐core sampling at its 100%‐owned Prairie Lake project near Terrace Bay, Ontario.

“We continue to see extensive intersections of elements of significant economic interest from the Prairie Lake

carbonatite complex. This most r ecent result brings to seven th e number of drill‐holes identified by this sampling

program with intercepts of 100m or more of Critical Elements – of note this most recent intersection contains

118.6m grading more than 2000g/t combined REEs (see below for tabulated individual REE values)” said Paul Jones,

Nuinsco’s CEO. “The intersections received to date have been o btained from near surface mineralization that the

Company is expecting to use for a resource estimate, there is n o indication that mineralization diminishes with

depth and the seven intersections reported to date occur over a n interval of 530m in the Southwest Area

Exploration Target (see map and table below), highlighting the potential scope and value of the mineralization on

the project.

As previously reported the mineralization in the Prairie Lake i ntrusion occurs at surface and extends to unknown

depth below the deepest drilling conducted to date (circa 500m vertically). The Prairie Lake complex hosts a suite

of elements of economic interest identified as Critical Element s defined under the Canadian Minerals and Metals

Plan (“CMMP”) contained within a very large domain of mineralized rock that is extremely favourably located from

a logistical perspective with rail, road, shipping, and power in f r ast r u ct u r e al r ead y i n p l ace . T h e p r oj ec t h ost s a

number of elements and compounds of economic interest including t h o s e f o r w h i c h d e m a n d i s p r o j e c t e d t o

substantially increase and for which secure supply chains are sought.

Sampling of diamond drill core from holes NP0806 produced continuous mineralized intersections of 118.6m (from

6.4‐125m) of niobium (Nb), tantalum (Ta), phosphate (P 2O5), and rare earth elements (REE) including lanthanum

(La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y) – analytical results are tabulated below.

Eighteen drill‐holes have been sampled to date, focussing on dr ill‐holes collared to intercept the Southwest (SW)

Area (see map below) – this domain measures 1km in length and is between 150m and 750m wide at surface. The

SW Area alone hosts an Exploration Target (“ET”) of 435‐530 million tonnes with grades as tabulated in the “Prairie

Lake ET” table below. The sampling will provide information to support the Company’s goal of establishing a

mineral resource at Prairie Lake.

Hole ID From

(m)

Width

(m)

Rock

Type*

P2O5

(%)

Nb2O5

(%)

Ta2O5

(%)

(g/t)

∑REE

(g/t)

NP0806 6.4 36 29.6 CRBT/PYX 3.34 0.100 0.0045 85 325 802 422 73 1707

80 96 16 CRBT 4.14 0.034 0.0014 91 352 796 404 70 1713

Combined extended intersection:

NP0806 6.4 125 118.6 4.83 0.040 0.0020 117 384 970 476 93 204 0

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

∑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

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.

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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