NWI.CN · 2021-10-13 12:00:00

Nuinsco Announces Tenth Consecutive Intersection of 100m or More of Continuous Critical Elements & Phosphate Mineralization at Prairie Lake

Corporate Updates

Nuinsco Announces Tenth Consecutive Intersection of 100m or More of Continuous

Critical Elements & Phosphate Mineralization at Prairie Lake

Toronto, October 13, 2021 – Nuinsco Resources Limited (“ Nuinsco” or the “ Company”) (CSE: NWI) today

announced that a tenth consecut ive drill hole has produced an i ntersection of 100m or mo re of Critical Elements

and phosphate mineralization at its 100%‐owned Prairie Lake project near Terrace Bay, Ontario with the receipt of

analyses producing a 183.1m (starting from 3.4m downhole) intersection in DDH NP0803.

“This is the tenth consecutive drill hole from our Prairie Lake project sampling program that has produced a

continuous intersection, of rare earth elements, niobium, tantalum and phosphate mineralization of 100m or more

‐ all of the reported intersections have commenced at or near surface, and none are closed off at depth,” said Paul

Jones, Nuinsco’s CEO. “These first ten drill holes are in the southern half of the Southwest (“SW”) Area of the Prairie

Lake project – additional sample results are now awaited from d rill holes in the northern half of this domain. The

SW Area has an Exploration Target of 435‐530 Mt (see “Prairie Lake ET” table below) of rock endowed with Critical

Elements of economic interest that are central to the electrification of the global vehicle fleet and expansion of the

capacity for renewable electric‐power generation worldwide – initiatives that are forecast to increase demand and

prices for these Critical Elements. For example, according to k itco.com, between August 2020 and the present the

price of neodymium (neodymium oxide 99.0% purity) alone increased from circa US$60/kg to circa $140/kg .”

Analytical results from the 183.1 metres of continuous minerali zation (from 3.4‐186.5) of niobium (Nb), tantalum

(Ta), phosphate (P2O5), and rare earth elements (REE) including lanthanum (La), ceriu m ( C e ) , s a m a r i u m ( S m ) ,

neodymium (Nd) and yttrium (Y) – analytical results are tabulated below. Eighteen drill‐holes have been sampled

to date as part of the program, focussing on drill‐holes collar ed to intercept the SW area which measures 1km in

length and is between 150m and 750m wide at surface. The SW are a alone hosts 435‐530 million tonnes of the

total 515‐630 million tonne ET, with grades as tabulated in the “Prairie Lake ET” table below.

Hole ID From

(m)

Widt

(m)

Rock

Type*

P2O5

(%)

Nb2O

(%)

Ta2O5

(%)

(g/t)

∑REE

(g/t)

New intersections:

NP0803

3.4 17 13.6 CRBT,PYX 2.62 0.133 0.0049 58 265 590 273 46 1231

22.72 43.25 20.53 CRBT,PYX 2.48 0.188 0.0022 58 260 583 277 47 1225

47.75 58.5 10.75 CRBT,PYX 2.33 0.117 0.0016 64 230 467 211 36 1 009

64 74 10 CRBT 3.22 0.103 0.0010 67 250 500 226 38 1081

97 161 64

CRBT,SILCAR

B 3.23 0.128 0.0030 63 278 597 277 47 1261

Combined extended intersection:

NP0803 3.4 186.5 183.1 ‐‐ 3.08 0.113 0.0022 68 274 596 264 46 1 248

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 mineralization of economic interest contained within the Pr airie Lake intrusion occurs at surface and extends

to unknown depths below the deepest drilling yet conducted (cir ca 500m vertically). There is no indication that

mineralization diminishes with depth and the ten intersections f r o m t h e p r o g r a m r e p o r t e d t o d a t e o c c u r i n a

domain that presently extends 530m , oriented southeast‐northwest, in the SW Area (see map below). The Prairie

L a k e c o m p l e x h o s t s a s u i t e o f e l e m e n t s o f e c o n o m i c i n t e r e s t i d entified as Critical Elements defined under the

Canadian Minerals and Metals Plan (“ CMMP”) contained within the very large domain of mineralized rock t hat is

extremely favourably located from a logistical perspective with rail, road, shipping, and power infrastructure

already established. Prairie Lake hosts a number of elements and compounds of economic interest including those

for which demand is projected to substantially increase and for which secure supply chains are sought.

The Prairie Lake 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 Hig hway located 28 kilometres 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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