Mr. Paul Jones reports

NUINSCO REPORTS NEW ANALYSES FROM PRAIRIE LAKE CRITICAL MINERALS PROJECT, EXPANDS MINERALIZED DOMAIN BY HUNDREDS OF METRES

Nuinsco Resources Ltd. has released analytical results from geological mapping and sampling conducted in the previously little-explored northern contact area of the Prairie Lake critical minerals and phosphate project located near Terrace Bay, Ont. 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 fieldwork was conducted during the summer and fall of 2023 and focused on the northern part of the Prairie Lake 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 fieldwork demonstrates 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, currently comprising nearly 890 million tonnes 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 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 chief executive officer. "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 resources 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."

All samples were analyzed by Activation Laboratories; samples were submitted to its facility in Thunder Bay, Ont., for preparation and forwarded to its facility in Ancaster, Ont., for analysis. Activation Laboratories is accredited under the Canadian Association for Laboratory Accreditation (CALA), ISO 9001:2015 and ISO/IEC 17025:2017. Samples were analyzed for a whole rock and trace element inductively coupled plasma analytical package (QOP WRA/QOP WRA 4B2 major/trace elements fusion inductively coupled plasma optical emission spectroscopy/inductively coupled plasma mass spectrometry) as well as for niobium, tantalum and zirconium oxides using a fusion X-ray fluorescence method (QOP XRF fusion (XRF)).

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 and deposit;
• 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 the large multicommodity (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 net smelter return 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.

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