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Toronto – TheNewswire - April 8, 2026 – Nuinsco Resources Limited (“ Nuinsco ” or the “ Company ”) (CSE: NWI, FRA: NJX) today announced that it has optioned the 3,300 ha Paradise Lake gold project (the “Project” ), located within the prolifically mineralized Central Newfoundland gold district . The project consists of 132 mineral exploration claims in two separate blocks; respectively the 108 claim Paradise Lake block, and the 24 claim Pistol Lake block. Historically, widespread and anomalous gold mineralization has been identified across the Project area. The Project is located approximately 27 km south of Grand Falls–Windsor, directly accessible via local roads and tracks.
Located on the Dunnage Zone litho-tectonic domain of Central Newfoundland the mineralization at the Project is interpreted to be related to the Cape Ray–Valentine Lake structural zone and the Victoria Lake Fault Zone. These structures are associated with much of the gold mineralization in central Newfoundland, including Equinox Gold’s flagship Valentine Lake gold deposit, and the Moosehead Property operated by Pirate Gold. The Paradise Lake project encompasses an underexplored land package with approximately 10 km of strike length within this highly gold-prospective terrane.
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“Nuinsco is excited to be exploring for gold mineralization in such prospective geological terrane as underlies the Paradise Lake project. Previous work has confirmed that gold mineralization occurs widely on the Project and high-grade gold mineralization exists at shallow depths, is associated with a mappable structural and alteration system, and has potential for continuity along strike and at depth,” said Paul Jones, CEO. “The regional presence of significant gold deposits occurring in similar terrane attests to the potential of the Project.”
Previous exploration on the Project has included airborne magnetic, electromagnetic, and radiometric survey, ground induced polarization (IP), prospecting/rock sampling and till sampling, and limited diamond drilling (approximately 3,700m). This earlier work has identified widespread anomalous gold mineralization in rock and tills. Six extensive areas of gold anomalous till mineralization have been identified, and ten areas have been interpreted to be sites of silicified low-sulphidation gold mineralization with highly anomalous gold, silver, arsenic and antimony values. From 965 rock samples collected, 73 samples returned gold values between 0.1 g/t and 144.7 g/t gold. Of 1,278 till samples, 53 contain anomalous gold from 10 ppb to 1.114 g/t gold. Q uartz breccias, associated with syenite intrusions, have returned assays up to 14.22 g/t Au. An induced polarization (IP) survey has identified chargeability anomalies along at least 4.5km with implications for structural controls on the gold mineralization. Diamond drilling has intersected multiple intervals containing gold mineralization, and visible gold has been observed. Fifty core intervals were intersected with gold concentration over 0.1g/t from 0.5 to 10.9 m widths; these intervals include: 6.21g/t Au over 0.5m in DDH PL-22-01, 6.00g/t Au over 0.5m and 7.75g/t Au over 0.5m core intervals in DDH PL-22-07, and 5.43g/t Au over a 0.5m core interval in DDH PL-22-12 (reference: Aurwest Resources Corporation 2nd to 8th year (2022) Assessment Report On: Diamond drilling, Prospecting and Mapping Paradise Lake Gold Project. 20 Dec., 2022).
The Paradise Lake option agreement is arms-length and dated 8 April, 2026. To earn a 100% interest in the Paradise Lake project, Nuinsco must complete the following :
Cash Payments .
Share Issuances .
Expenditure Requirements .
$250,000 on or before the first anniversary of the Effective Date;
$350,000 on or before the second anniversary of the Effective Date (such that the aggregate Expenditures incurred on or before the second anniversary shall be not less than $600,000);
$400,000 on or before the third anniversary of the Effective Date (such that the aggregate Expenditures incurred on or before the third anniversary shall be not less than $1,000,000); and
$1,000,000 on or before the fourth anniversary of the Effective Date (such that the aggregate Expenditures incurred on or before the fourth anniversary shall be not less than $2,000,000).
Laura Giroux, P.Geo., Chief Geologist of Nuinsco, is a Qualified Person as defined under National Instrument 43-101. Ms. Giroux has reviewed and approved the technical content of this news release.
About Nuinsco Resources Limited
Nuinsco Resources has over 50 years of exploration success and is a growth-oriented, multi-commodity mineral exploration and development company focused on prospective opportunities in Canada and internationally. Currently the Company has the large multi-commodity (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 NSR royalty on the Sunbeam Gold Property near Atikokan.
Forward-Looking Statements
This news release contains forward-looking statements or information (collectively, “ FLI ”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections, and interpretations as at the date of this news release.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”
FLI is not, and cannot be, a guarantee of future results or events. FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI.
Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, include: the results of previous exploration activities at the Project, the Company’s financial position and general economic conditions; the ability of the Company to meet the terms of the option agreement; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests; the ability of the Company to obtain required approvals; geological and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; commodity prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about the Company's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.
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