NWI.CN · 2021-08-11 12:00:00

Nuinsco Announces Two Intersections of More Than 100m of Continuous Critical Metals & Phosphate Mineralization from Sampling Program at Prairie Lake

Drill Results Exploration Programs

Nuinsco Announces Two Intersections of More Than 100m of Continuous Critical

Metals & Phosphate Mineralization from Sampling Program at Prairie Lake

Toronto, August 11, 2021 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI), announces two

additional significant intersections of 122m and 111m respectively, of Critical Metals and phosphate mineralization

from diamond drilling at its 100%‐owned Prairie Lake project near Terrace Bay, Ontario.

Additional sampling of diamond drill core from holes NP0801 and NP0802 has now produced continuous

mineralized intersections of 122.7m (NP0801: 2.3‐125m) and 111. 2m (NP0802: 4.8‐116m) of niobium (Nb),

tantalum (Ta), phosphate (P 2O5), and rare earth elements (REE) including lanthanum (La), ceri um (Ce), samarium

(Sm), neodymium (Nd) and yttrium (Y). Ten drill holes have been sampled to date. The ongoing sampling program

continues to provide information to support the Company’s goal of establishing 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 435‐530 million tonnes with grades as tabulated in the “Prairie Lake ET” table below.

“The Company is impressed with the results obtained from the infill sampling program. The expanded domains of

continuous rare earth, niobium, tantalum and phosphate mineraliz a t i o n p r o v i d e g r e at s c op e f o r c o n t i n u i t y a n d

grade evaluation necessary to develop a resource,” said Paul Jo nes, Nuinsco’s CEO. “The value of the Prairie Lake

project as an asset to the Company is emphasized by the REE neo dymium alone; it is just one of several contained

elements of interest and has increased in price from circa US$60/kg to circa $140/kg between 1 August 2020 and 1

August 2021 (source: kitco.com). The mineralization at Prairie Lak e occ u r s at su r f ac e and extends to unknown

depth below the deepest drilling conducted to date (circa 500m) – it represents a very significant domain of rock

mineralized with a number of elements and compounds of economic interest including those defined as Critical

E l e m e n t s d e f i n e d u n d e r t h e C a n a d i a n M i n e r a l s a n d M e t a l s P l a n ( “CMMP” ) 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.”

Hole ID From

(m)

Width

(m)

Rock

Type

P2O5

(%)

Nb2O5

(%)

Ta2O5

(%)

(g/t)

∑REE

(g/t)

New intersections:

NP0801 2.3 27 24.7

CRBT/IJ‐

PYX BX 2.83 0.220 0.0040 65 262 633 310 52 1322

89 125 36

CRBT/IJ‐

PYX BX 2.83 0.168 0.0032 59 233 516 243 42 1093

NP0802

4.8 29.19 24.39 CRBT 3.09 0.240 0.0044 74 304 726 343 58 1504

32.13 41 8.87 CRBT 2.89 0.274 0.0021 68 234 575 290 51 1218

78.6 87.38 8.78 MEL‐IJ 6.47 0.054 0.0026 137 367 803 401 74 178 2

91.6 96.12 4.52 MEL‐IJ 9.16 0.027 0.0017 140 562 1174 566 95 25 37

100.5 109.33 8.83 MEL‐IJ 2.34 0.145 0.0046 90 286 657 322 59 14 13

Combined extended intersection:

NP0801 2.3 125 122.7 2.19 0.196 0.0027 54 251 603 258 45 1211

NP0802 4.8 116 111.2 4.62 0.159 0.0029 103 349 797 361 68 167 9

*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

When combined with previous sampling, the new results extend th e continuous intersect ion in hole NP0801 to

112.7m of 0.196% Nb 2O5 and 2.19% P 2O5 with 0.0027 % (27 g/t) Ta 2O5 and 1211 g/t ∑REE and in hole NP0802 to

111.2m of 0.159% Nb2O5 and 4.62% P2O5 with 0.0029 % (29 g/t) Ta2O5 and 1679 g/t ∑REE.

In total of 86 drill core samples were collected from NP0801 and NP0802; two 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.

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 i nfrastructure; 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,

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

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.

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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