Mr. Paul Jones reports

NUINSCO CLOSES PRIVATE PLACEMENT

Nuinsco Resources Ltd. today closed a non-brokered private placement offering, issuing 8.1 million flow-through common shares at a subscription price of 0.5 cent per share for aggregate proceeds of $40,500. Proceeds from the private placement will be used to advance the company's Prairie Lake critical metals project located near Terrace Bay, Ont.

Each share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The shares will be renounced with an effective date no later than Dec. 31, 2024, to the initial purchasers of the shares in an aggregate amount not less than the gross proceeds raised.

The private placement constituted a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions as certain insiders of the company subscribed for 2.1 million shares. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the private placement by the insiders does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the private placement, which the company deems reasonable in the circumstances in order to price and close the private placement in an expeditious manner. A material change report will be filed under the company's profile at SEDAR+, which may be sent to any shareholder upon request.

All securities issued pursuant to the private placement will have a four-month-and-one-day statutory hold period.

About Nuinsco Resources Ltd.

Nuinsco Resources has over 50 years of exploration suc cess 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 PLC. In addition, Nuinsco has an agreement for gold exploitation at the El Sid project in the Eastern Desert of Egypt.

We seek Safe Harbor.