Centamin Ord Shs T.CEE

NWI...Egyption Gold Concessions

[BagOfGold]

I am not too sure whether anyone is aware of this news which came out Thursday:

FYI;

Bag Of Gold

Nuinsco Enters Bidding for Egyptian Gold Concessions

Underexplored Eastern Desert presents tremendous opportunity for gold discovery

15:03 EDT Thursday, October 08, 2009

TORONTO,ONTARIO--(Marketwire - Oct. 8, 2009) - Nuinsco Resources Limited("Nuinsco" or "the Company") (TSX:NWI) (www.nuinsco.ca) today announcedthat it is participating in Egypt's 2009 International Bid Round, anauction of gold exploration concessions administered by the EgyptianMineral Resources Authority ("EMRA").

Nuinsco'sbid has been made in conjunction with Quartz Core Company, an Egyptiancompany. The bidding procedures being used for these gold concessionsare similar to those used successfully for oil and gas properties inEgypt. All the concessions are located in the highly prospectiveEastern Desert in central-eastern Egypt between the Red Sea coast andthe Nile River. The 2009 International Bid Round covers exploration forgold and associated minerals.

Theconcessions on which Nuinsco is bidding encompass numerous named goldoccurrences. Assuming a positive decision is announced, Nuinsco willprepare work plans to begin the process of systematically evaluatingthe concessions in the near term.

"Egypt'sEastern Desert is an underexplored region with exciting geology andtremendous potential that is just opening up," said Paul Jones,President. "Gold production dates to at least pharaonic times,virtually no recent exploration has been conducted and more than 95in-situ occurrences are presently identified in the Eastern Desert. Theopportunity to acquire projects in a region such as this doesn't comealong every day and we are pleased to have taken the first step towardgetting involved in gold exploration in Egypt."

Recentgold discoveries in the Eastern Desert by companies such as CentaminEgypt Limited ("Centamin"), have prompted a fundamental re-examinationof the region's gold potential. Centamin's flagship property, theSukari Gold Project, is located 15 km west of the Red Sea coast in thesouthern-central Eastern Desert of Egypt. Centamin estimates thecurrent resource at Sukari at 9.91 million ounces of gold in measuredand indicated reserves. A further 3.3 million ounces are contained ininferred resources (see Centamin news release dated July 14, 2009). Thefirst gold pour at Sukari took place in June 2009.

About Nuinsco Resources

Nuinscois a growth-oriented, multi-commodity mineral exploration anddevelopment company that is focused on uranium, copper, zinc and goldexploration and development in world-class mineralized belts in Canadaand Turkey. In addition to its property holdings, Nuinsco ownsapproximately 9% of the outstanding common shares of precious and basemetals producer Gold Hawk Resources Inc. (TSX VENTURE:CGK) and aninterest in the Corner Bay copper project owned by Campbell ResourcesLtd. (TSX:CCH). Shares of Nuinsco trade on the Toronto Stock Exchangeunder the symbol NWI.

Please visit the Company's website at www.nuinsco.ca. Should you wish to receive Company news via email, please email [e-mail] and specify "Nuinsco Resources" in the subject line.

FORWARD-LOOKINGSTATEMENTS: This news release contains certain "forward-lookingstatements." All statements, other than statements of historical fact,that address activities, events or developments that Nuinsco believes,expects or anticipates will or may occur in the future areforward-looking statements. Forward-looking statements are often, butnot always, identified by the use of words such as "seek,""anticipate," "believe," "plan," "estimate," "expect," and "intend" andstatements that an event or result "may," "will," "can," "should,""could," or "might" occur or be achieved and other similar expressions.These forward-looking statements reflect the current expectations orbeliefs of Nuinsco based on information currently available to Nuinsco.Forward-looking statements are subject to a number of risks anduncertainties that may cause the actual results of Nuinsco to differmaterially from those discussed in the forward-looking statements, andeven if such actual results are realized or substantially realized,there can be no assurance that they will have the expected consequencesto, or effects on Nuinsco. Factors that could cause actual results orevents to differ materially from current expectations include, amongother things, failure to successfully complete financings, capital andother costs varying significantly from estimates, production ratesvarying from estimates, changes in world copper and/or gold markets,changes in equity markets, uncertainties relating to the availabilityand costs of financing needed in the future, equipment failure,unexpected geological conditions, imprecision in resource estimates,success of future development initiatives, competition, operatingperformance of facilities, environmental and safety risks, delays inobtaining or failure to obtain necessary permits and approvals fromgovernment authorities, and other development and operating risks. Anyforward-looking statement speaks only as of the date on which it ismade and, except as may be required by applicable securities laws,Nuinsco disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although Nuinsco believes thatthe assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and accordingly undue reliance should not be put on suchstatements due to the inherent uncertainty therein.

FOR FURTHER INFORMATION PLEASE CONTACT:

Nuinsco Resources Inc.Rene Galipeau or Sean Stokes416.626.0470416.626.0890 (FAX)[e-mail]  

or

CHF Investor RelationsRobin CookSenior Account Manager416.868.1079 ext. 228416.868.6198 (FAX)[e-mail]  

or

CHF Investor RelationsCatarina CerqueiraAssociate Account Manager416.868.1079 ext. 251416.868.6198 (FAX)[e-mail]