Nuinsco Expands Higher-Grade Niobium Target Areas at Prairie Lake Critical Minerals Project
Nuinsco Expands Higher-Grade Niobium Target Areas
at Prairie Lake Critical Minerals Project
• Niobium is a high-value component of the Critical Minerals endowment at Prairie Lake.
• >500m long domain containing higher-grade niobium mineralization identified, currently tested
extending to >175m vertically with diamond drilling.
• Niobium mineralization remains open in all directions.
• Potentially significant by-product/co-product to known Prairie Lake phosphate and rare earth
mineralization.
• Niobium demand is forecast to greatly expand in green technology applications.
Toronto, November, 15, 2023 – Nuinsco Resources Limit ed (“ Nuinsco” or the “Company”) (CSE: NWI) today
announced further results of a review of higher-grade niobium target areas at its Prairie Lake Critical Minerals and
phosphate project located near Terrace Bay, Ontario (“Prairie Lake” or the “Project”). With the incorporation of
diamond drill hole data into the analysis, the known niobium -bearing domain has now been extended in inclined
drillholes to a vertical depth of 175m.
Highlights from the drill data tabulated below include DDH NP0701 with 98m (core length) of continuous niobium
mineralization grading 0.243% Nb 2O5, and DDH P31 with 170.8m (core length) grading 0.284% Nb 2O5. This very
strongly anomalous niobium mineralization extending to depth is recognized as the extension of the widespread
anomalous niobium identified at surface. At surface the anomalous niobium mineralization occurs in a 500m long
domain in the southwest part of the Prairie Lake Complex, although strongly anomalous niobium mineralization is
known to occur at numerous other sites on the Project.
“The extension of this niobium-bearing domain to depth is just one indication of the potential to expand the scope
of Prairie Lake over and above the phosphate – rare earth element dominated mineral resource estimate (“MRE”)
completed last year,” said Paul Jones, Nuinsco’s CEO. “ We understand that the entire Prairie Lake Complex is
mineralized with elements and minerals of economic interest and that it remains vastly underexplored. We are
aware of strong niobium mineralization occurring elsewhere on the Project, and the very prospective grades and
intervals identified from drilling identifies the potential to expand the importance of niobium at Prairie Lake. The
significance of niobium in the developing greener economy makes it a very valuable addition the Project’s
potential.”
Niobium is found throughout the Prairie Lake intrusion where it occurs primarily in the mineral pyrochlore-betafite,
and forms part of the MRE, along with phosphate and rare earth element mineralization (see below). Niobium is
used in myriad applications, but dominantly as an alloying agent in steel production where its use imparts strength,
resulting in reduced weight; for instance, small quantities of niobium added to steel used in automobile production
significantly reduces vehicle weight, thereby improving efficiency and leading directly to the very positive outcome
of lower global greenhouse gas emissions. Niobium is identified as a Critical Mineral under the Canadian Minerals
and Metals Plan and Canadian Critical Minerals Strategy.
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Prairie Lake Project Diamond Drill Hole Analysis
Prairie Lake Project Pit-Constrained Mineral Resource Estimate(1-6)
Rare Earth Oxides Niobium Phosp
hate
Class Cut-Off Tonnes Nd2O3 Pr6O11 Sc2O3 CeO2 La2O3 Sm2O3 Ta2O5 Y2O3 TREO Nb2O5 P2O5
NSR C$/t M g/t g/t g/t g/t g/t g/t g/t g/t kg/t % %
Indicated 30 15.6 344 96 15 754 300 58 28 100 1.67 0.16 3.71
Inferred 30 871.8 409 82 18 905 388 79 17 127 2.01 0.10 3.39
*TREO = Total Rare Earth Oxides: neodymium, Nd2O3 ; praseodymium, Pr6O11; scandium, Sc2O3; Cerium, CeO2; lanthanum, La2O3; samarium,
Sm2O3; yttrium, Y2O3.
A full description of methodology used to estimate the Prairie Lake project Mineral Resource Estimate is contained in the NI 43-101 compliant
Technical Report, effective date 31 May 2022 prepared by P&E Mining Consultants Inc. that is filed on SEDAR.
1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-
political, marketing, or other relevant issues.
3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral
Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred
Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
4. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum
(CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019)
prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
5. US$ Metal prices used were $80/Kg Nd2O3, $80/Kg Pr6O11, $1,500/Kg Sc2O3, $50/Kg Nb2O5, $250/t P2O5, $1.35/Kg CeO2,
$1.35/Kg La2O3, $3.50/Kg Sm2O3, Nil$/t Ta2O5 and $13.00/kg Y2O3, 0.78 FX all with combined process recoveries and
payables of 50%, except P2O5 at 75%.
Diamond Drill Hole From (m) To(m) Width (m) Nb2O5 %
NP0710 6 104 98 0.243
NAD83_16, 520213E, 5431205N including 14 21.8 7.8 0.525
Az = 285°, Inclination. = -55°,
Length = 104m and 32.8 38 5.2 0.514
NP0711 2.7 101 98.3 0.120
NAD83_16, 520220E, 5431166N including 21.85 22.75 0.9 0.685
Az = 285°, Inclination = -45°,
Length = 101m and 96.7 101 4.3 0.567
and 54.55 55.55 1 0.523
and 72.75 74 1.25 0.575
P31 2.44 173.12 170.68 0.284
NAD83_16, 520195E, 5431193N including 3.96 10.06 6.1 0.500
Az = 260°, Inclination = -55°,
Length = 173.12m and 74.37 83.52 9.15 0.504
and 89.46 100.58 11.12 0.584
and 135.94 166.57 30.63 0.500
P40 1.98 243.23 241.25 0.173
NAD83_16, 520210E, 5431167N including 132.89 155.14 22.25 0.505
Az = 260°, Incl. = -45°, Length = 243m
P41 3.05 172.21 169.16 0.169
NAD83_16, 520233E, 5431164N including 162.46 172.21 9.75 0.514
Az = 270°, Incl. = -50°, Length = 173m
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6. The constraining pit optimization parameters were C$ 2.50/t mining cost for all material, C$25/t process cost, C$5/t
G&A cost and 45-degree pit slopes with a C$30/t NSR cut-off.
In addition to the significant known mineral resource, Prairie Lake is well-located near the north shore of Lake
Superior, putting it in close or easily accessible reach of:
• The larger towns of Marathon, Terrace Bay as well as other nearby communities - all able to supply
a local, skilled workforce.
• All-weather forest access road crossing the project.
• Paved Highways 17 and 11 to the south and north of the project.
• Canadian Pacific Railway and Canadian National Railway networks.
• High capacity (230kV) electrical power transmission line.
• 50km from the Marathon deep water port project. Deep-water ports are also located at Thunder
Bay and Sault Ste. Marie. All able to handle ocean going ships.
• The Marathon airport.
Laura Giroux, P.Geo, Chief Geologist, acts as Nuinsco's Qualified 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 suc cess and is a growth -oriented, multi-commodity mineral
exploration and development company focused on prospective oppor tunities in Canada and internationally.
Currently the Company has three properties in Ontario – the high-grade Sunbeam gold property near Atikokan
currently optioned to First Class Metals PLC, the large multi-commodity (phosphate, rare earth element, niobium,
tantalum) Prairie Lake project near Marathon-Terrace Bay, and the Zig Zag Lake property (lit hium, tantalum) near
Armstrong also optioned to First Class Metals PLC . 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. Forward-looking statements are
often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate, “expect," and "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 -looking 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, production rates varying from estimates, changes in world copper and/or gold markets, changes
in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions,
imprecision in resource estimates, success of future development 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 made 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 otherwise. 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.
Paul Jones,
CEO
Sean Stokes,
Executive VP
Cathy Hume,
Consultant
@nuinscoresources
613-867-5902 416-712-7481 416-868-1079
877-838-1079
paul.jones@
nuinsco.ca
sean.stokes@
nuinsco.ca
@NWIResources