Mr. Paul Jones reports

NUINSCO REPORTS NEW GEOLOGICAL INTERPRETATION AT PRAIRIE LAKE CRITICAL MINERALS PROJECT: GEOLOGY SIMPLIFIED, PROSPECTIVE HOST ROCK EXPANDED

Recent fieldwork and reinterpretation of historical data from Nuinsco Resources Ltd.'s Prairie Lake critical minerals and phosphate project have combined to produce an updated interpretation of the geology of the Prairie Lake complex that expands, by approximately 70 per cent, the carbonatite component of the complex, potentially simplifying further development of resources.

Highlights:

• Updated interpretation substantially reduces geological complexity.
• Expands extent of carbonatite host rock by approximately 70%.
• Simplifies ongoing evaluation of resource potential, metallurgical processing evaluation.
• Greatly expands potential development areas beyond existing mineral resource estimate ("MRE").
• Great significance for overall potential size of phosphate and critical minerals deposit.

Prairie Lake, located near Terrace Bay, Ont., has amongst the world's highest known light rare earth element content in apatite and contains a host of other REE bearing minerals, as well as niobium-bearing pyrochlore, and phosphate mineralization. Metallurgical studies to date demonstrate that a clean phosphate concentrate, grading 26% P 2 O 5 at 76% recovery with ample room for improvement, and with valuable rare earth element co-concentrate can be reliably produced from Prairie Lake feed.

"With the new geological interpretation of the Project its overall complexity is substantially reduced," said Paul Jones, Nuinsco's CEO. "We were aware that strong mineralization, consistent with the MRE, had been identified outside of the MRE. We have now greatly extended the domain of predominantly carbonatite host rock, producing a much expanded and simplified target area for future work. Metallurgy is key to the evaluation of this project, and with the new interpretation the potential mineralized source rock is more homogeneous and hence potentially more effectively and efficiently processed. This is of enormous significance to potential economic viability. The potential exists to expand the carbonatite mineralized endowment beyond the current MRE, making the project a very significant asset of vitally important Critical Minerals that are in constantly expanding demand as the world's economies transition towards low-carbon emissions."

Field work was conducted during the summer and autumn of 2023 on the northern part of the Prairie Lake Complex near the little-explored north contact. The resultant mapping and sampling, combined with re-evaluation of historic data, has significantly expanded the area of interpreted mineralized carbonatite rock domains at surface, increasing the carbonatite content of the Complex at surface by approximately 70%. This new carbonatite domain is at least 1.5 km long by 500m wide. The importance of the updated interpretation is that is substantially reduces geological complexity and so simplifies ongoing evaluation of resource potential and metallurgical processing . The current MRE consists of the very significant Critical Minerals endowment, tabulated below, currently comprising nearly 890Mt. A simplified geology enhances the possibilities for resource enhancement with further work.

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 explora tion and development company focused on prospective oppor tunities in Canada and internationally. Currently the Company has the large multi-commodity (phosphate, rare earth element, niobi um, 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 Phosphate
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     

We seek Safe Harbor.