Mr. Paul Jones reports

NUINSCO EXPANDING GEOLOGICAL COVERAGE AT PRAIRIE LAKE CRITICAL MINERALS PROJECT

Nuinsco Resources Ltd. is conducting additional geological mapping and sampling at its Prairie Lake critical minerals and phosphate project located near Terrace Bay, Ont.

The fieldwork is focusing on the northern part of the Prairie Lake complex, an area that has seen little past exploration. The area is north of the domains hosting the very significant mineral resource estimate (MRE), as reported on May 32, 2022, currently comprising nearly 890 million tonnes of identified critical minerals endowment. The deposit has amongst the world's highest-known light rare earth element (LREE) content in apatite and contains other REE-bearing minerals, including monazite, bastnaesite, carbocernaite/burbankite and ancylite, as well as niobium-bearing pyrochlore.

"The extension of coverage outside the MRE is an important step in addition to the ongoing metallurgical studies at SGS-Lakefield Laboratory, environmental baseline evaluation and expansion of geological understanding of the Prairie Lake complex," said Paul Jones, Nuinsco's chief executive officer. "We are fully aware of the scope of the mineralization on the project, the potential for expansion of the MRE, and the possibility that domains of higher-grade mineralization exist within the MRE or for that matter elsewhere on the project outside of the existing resource. The attributes of the project are very favourable to development, and we are diligently conducting work to do so."

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 work force;
• All-weather forest access road crossing the project;
• Paved Highways 17 and 11 to the south and north;
• Canadian Pacific Railway and Canadian National Railway networks;
• High-capacity (230 kilovolts) electrical power transmission line;
• 50 kilometres from the Marathon deepwater port project. Deepwater ports are also located at Thunder Bay and Sault Ste. Marie, able to handle ocean-going ships;
• The Marathon airport.

Laura Giroux, PGeo, 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 Ltd.

Nuinsco Resources has over 50 years of exploration success and is a growth-oriented, multicommodity mineral exploration and development company focused on prospective opportunities 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 multicommodity (phosphate, rare earth element, niobium, tantalum) Prairie Lake project near Marathon-Terrace Bay and the Zig Zag Lake property (lithium, tantalum) near Armstrong, also optioned to First Class Metals. In addition, Nuinsco has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.

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