Nuinsco Resources Reports New Analyses from Prairie Lake Critical Minerals Project, Expands Mineralized Domain by Hundreds of Metres
Nuinsco Reports New Analyses from Prairie Lake Critical Minerals Project,
Expands Mineralized Domain by Hundreds of Metres
Highlights:
• New, widespread, and strongly anomalous rare earth element (“REE”), niobium, and phosphate
mineralization.
• Analyses demonstrate grades of REE, niobium, phosphate comparable to those of mineral resource
estimate (“MRE”).
• Significant expansion of strong, near-surface mineralization to the north of the mineral resource
estimate.
Toronto, February 27, 2024 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI, FRA: NJX) today
announced analytical results from geological mapping and sampling conducted in the previously little -explored
northern contact area of Prairie Lake Critical Minerals and phosphate project located near Terrace Bay, Ontario
(“Prairie Lake” or the “Project”). The Project has amongst the world’s highest known light rare earth element
content in apatite and contains a host of other REE bearing minerals including monazite, bastnaesite,
carbocernaite/burbankite, and ancylite, as well as niobium-bearing pyrochlore, and phosphate mineralization.
The field work was conducted during the summer and autumn of 2023 and focussed on the northern part of the
Prairie Lake Complex (the “Complex”) near the little -explored north contact. Outcrop is near non-existent in the
work area, so the field crew prospected likely sites of near-surface bedrock exposure. A total of 25 pits were
excavated to successfully access bedrock, and 30 samples were collected for analysis. The field work demonstrates
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that the north part of the Complex is underlain by widespread carbonatite rock that extends north from the
domains hosting the very significant mineral resource estimate tabulated below, currently comprising nearly 890Mt
of identified Critical Minerals endowment. Analytical results reported here demonstrate that grades obtained from
the sampling are consistent with those of the MRE. The significance of this is the potential to extend, to the north,
mineralization in similar host rock to the MRE , possibly significantly expanding the near -surface MRE. Potential
extension of the MRE is supported by the analytical results , tabulated below, that demonstrate the presence of
distinctly anomalous grades of rare earth elements, phosphate, and niobium.
“The extension of strong mineralization of economic interest, as observed in the MRE, in this large domain near the
north contact of the Prairie Lake Complex has significant implications for potential expansion of resources at the
Project,” said Paul Jones, Nuinsco’s CEO. “The current MRE is already a very large endowment of vitally important
Critical Minerals that are in constantly expanding demand as the world’s economies transition towards low-carbon
emissions. The further expansion of mineralization demonstrates that scope exists to increase resource s to other
currently untested areas in the north, west, and east of the Project. Given the current size of the MRE at the Project,
this possible further expansion is of enormous significance for the secure supply of Critical Minerals in North
America and beyond.
CRBT – carbonatite, PYX – pyroxenite, FEN – fenite, MAF – mafic,
All samples were analysed by Activation Laboratories : samples were submitted to the ir facility in Thunder Bay,
Ontario for preparation and forwarded to their facility in Ancaster, Ontario for analysis. Activation Laboratories is
accredited under the Canadian Association for Laboratory Accreditation (CALA) , ISO 9001:2015 and ISO/IEC 17025:2017.
Samples were analysed for a whole rock and trace element ICP analytical package (QOP WRA /QOP WRA 4B2
Major/Trace Elements Fusion ICPOES/ICPMS) as well as for niobium, tantalum, and zirconium oxides using a fusion
XRF method (QOP XRF Fusion (XRF)).
Sampl e Easting
(NAD83)
Northing
(NAD83)
Elevation
(m)
P2O5
(%)
TREO
(ppm)
Sc2O3
(ppm)
Y2O3
(ppm)
La2O3
(ppm)
CeO2
(ppm)
Pr6O11
(ppm)
Nd2O3
(ppm)
Sm2O3
(ppm)
Nb2O5
(%)
Ta2O5
(%)
U3O8
(%) De scription
419805 520410 5432480 310 1.02 3625.8 18.4 156.2 631.0 1584.6 209.0 858.5 168.1 0.111 < 0.003 0.002 CRBT
419806 520342 5432426 312 0.27 997.3 3.1 64.8 240.4 448.4 47.4 165.6 27.7 0.013 < 0.003 0.000 CRBT
419807 520186 5432361 311 3.1 1850.3 4.6 88.9 362.4 864.8 99.6 368.6 61.5 0.388 0.005 0.002 BANDED CRBT
419808 520186 5432361 311 0.49 1000.7 0.0 52.1 247.5 464.3 47.7 163.3 25.9 0.011 < 0.003 0.001 BANDED CRBT
419809 520186 5432361 311 3.2 1720.5 3.1 85.1 355.4 780.0 92.7 346.4 57.9 0.208 < 0.003 0.001 BANDED CRBT
419810 520255 5432374 321 0.7 831.4 3.1 53.3 198.2 374.7 39.7 138.8 23.5 0.008 < 0.003 0.004 CRBT
419811 520200 5432366 316 1.34 1050.5 0.0 57.1 242.8 485.2 51.6 184.3 29.5 0.038 < 0.003 0.000 CRBT
419812 520200 5432366 316 2.36 1221.1 3.1 62.2 265.1 563.8 62.5 227.4 37.0 0.157 < 0.003 0.000 CRBT
419813 520321 5432402 323 1.21 872.2 3.1 48.3 204.1 401.7 42.5 149.3 23.3 0.035 < 0.003 0.001 DK BRN CRBT SAND
419814 520389 5432423 337 1.07 836.5 9.2 245.1 102.5 238.3 34.2 158.6 48.6 0.383 < 0.003 0.000 MAFIC
419815 520438 5432383 349 1.1 4168.0 30.7 314.9 500.8 1461.8 256.1 1388.0 215.7 0.148 0.003 0.004 PYX CRBT VEINS O/C
419816 520596 5432484 332 0.09 1556.7 9.2 15.2 312.0 739.5 88.0 340.6 52.3 0.07 < 0.003 0.001 FEN? SIL
419817 520561 5432492 335 1.17 2879.0 30.7 40.6 647.4 1351.2 153.4 568.0 87.5 0.045 0.004 0.001 PYX ? O/C
419818 520585 5432569 329 1.12 1238.1 13.8 76.2 231.0 543.0 67.5 260.1 46.5 0.015 < 0.003 0.001 CRBT
419819 520106 5432290 323 5.05 3785.6 3.1 199.4 666.2 1695.2 211.4 863.1 147.3 0.006 < 0.003 0.002 MAF CLASTS CRBT SAND
419820 520118 5432234 325 1.21 1841.3 4.6 95.2 371.8 857.4 96.8 355.8 59.7 0.221 < 0.003 0.005 BANDED CRBT
419821 520035 5432079 332 3.47 2413.1 1.5 174.0 509.0 1061.3 123.2 461.9 82.1 0.008 < 0.003 0.002 BAND CRBT
419822 520006 5432078 330 0.92 1168.4 21.5 41.9 234.6 544.2 63.7 227.4 35.1 0.172 0.004 0.002 MAF O/C
419823 520137 5432108 330 0.58 1135.0 0.0 71.1 229.9 511.0 60.7 225.1 37.2 0.032 < 0.003 0.001 CRBT BAND
419824 520229 5432050 345 3.45 2093.8 3.1 118.1 436.3 956.9 109.0 402.4 68.1 0.032 0.004 0.005 CRBT SAND
419825 520241 5432038 342 2.3 1577.0 4.6 85.1 335.4 735.8 79.5 288.1 48.5 0.118 < 0.003 0.004 CRBT SAND, SPLIT SAMP
419826 520241 5432038 342 1.71 1342.1 1.5 78.7 296.7 625.3 63.9 236.8 39.2 0.06 < 0.003 0.002 CRBT SAND, SPLIT SAMP
419827 520106 5432290 323 0.35 362.8 0.0 72.4 54.7 127.8 17.3 73.1 17.6 0.051 < 0.003 0.001 MAF CLASTS CRBT
419828 520822 5432461 315 4.59 2137.6 9.2 166.4 382.3 949.6 114.5 435.1 80.6 0.404 0.009 0.023 CRBT ROCK, POSS FLOAT
419829 520647 5432440 327 2.18 1523.7 4.6 68.6 327.2 714.9 78.8 284.6 45.0 0.039 0.004 0.010 CRBT SAND
419830 520419 5432358 332 2.45 1027.4 4.6 61.0 213.4 465.6 52.2 197.1 33.5 0.305 0.003 0.009 CRBT SAND W MICA MAF
419831 520152 5432187 331 0.99 942.3 0.0 44.4 232.2 436.1 47.8 158.6 23.1 0.008 < 0.003 0.000 CRBT MAF SAND
419832 520234 5432218 338 1.56 1042.4 1.5 61.0 227.5 474.2 53.5 193.6 31.1 0.106 0.003 0.002 LOWER PIT CRBT SAND
419833 520234 5432218 338 2.18 512.8 12.3 26.7 98.2 221.1 28.0 108.0 18.6 0.182 0.005 0.002 UPPER MT RICH PIT
419834 520237 5432302 335 1.21 1072.6 0.0 63.5 234.6 481.5 54.0 205.3 33.7 0.055 0.004 0.001 CRBT SAND
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The Prairie Lake project contains a large, well-located resource of critical minerals in North America. It is a potential
source of elements needed for applications in transportation, power distribution, green technologies and a host of
other applications, including agriculture. It is of immense value to a secure critical minerals supply chain; a strategic
concern identified by numerous governments in the recent past and addressed with incentives and programs to
encourage development of the critical minerals sector. The Project is located near the north shore of Lake Superior,
putting it in close or easily accessible reach of:
• The towns of Marathon, Terrace Bay and other affected communities - all able to supply a local ,
skilled workforce.
• All weather forest access road crossing the project and deposit.
• Paved Highways 17 and 11 to the south and north.
• 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, 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 the large multi-commodity (phosphate, rare earth element, niobium, tantalum) Prairie
Lake project near Marathon-Terrace Bay, the Zig Zag Lake property (lithium, tantalum) near Armstrong optioned to
First Class Metals PLC and retains a NSR royalty on the Sunbeam gold property near Atikokan. In addition, Nuinsco
has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.
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 $13.00/kg Y2O3, 0.78 FX all with combined process recoveries and
payables of 50%, except P2O5 at 75%.
6. The constraining pit optimization parameters were C$ 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.
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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 assur ance 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 facilitie s, 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, fo rward-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