Mr. Paul Jones reports

NUINSCO ANNOUNCES PRIVATE PLACEMENT

Nuinsco Resources Ltd. has arranged a non-brokered private placement of flow-through common shares and common shares. Under the private placement, the company could issue up to 100 million flow-through (FT) shares and/or common shares, dependent on investor demand, priced at 0.5 cent. The private placement is expected to close on or about Dec. 26, 2024.

Proceeds from the sale of flow-through shares will be used to advance the company's Prairie Lake critical minerals project, located near Terrace Bay, Ont., and proceeds from the sale of common shares may be used for general corporate purposes.

Nuinsco's focus project, Prairie Lake, is a critical minerals asset hosting a 15.6-million-tonne indicated mineral resource and an 871.8-million-tonne inferred mineral resource (see the attached table). Metallurgical studies demonstrate that a clean phosphate concentrate, grading 26 per cent P2O5 at a process recovery of 76 per cent, with ample room for improvement and with valuable rare earth element co-concentrate, can be reliably produced from the Prairie Lake feed (see news release dated March 13, 2024).

The elements found at Prairie Lake are essential for applications in transportation, power distribution and storage, green technologies, and agriculture, to name a few. The project boasts substantial logistical benefits, including easy access to:

• The towns of Marathon and Terrace Bay, and other affected communities -- all able to supply a local, skilled work force;
• An 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;
• A high-capacity (230-kilovolt) electrical power transmission line;
• The Marathon deepwater port project (50 kilometres (km) away); deepwater ports able to handle ocean-going ships are also located at Thunder Bay and Sault Ste. Marie.
• 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 content 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 an NSR (net smelter return) royalty on the Sunbeam gold property near Atikokan.

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