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News--Prairie Lake evaluation

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Authors: Marketwire - Mining and Metals
Ability to Produce Distinct Niobium and Phosphorus Concentrates Will Enhance Economic Appeal
TORONTO, ONTARIO--(Marketwire - Nov. 30, 2011) - Nuinsco Resources Limited ("Nuinsco") (TSX:NWI) (www.nuinsco.ca) today announced that optimized metallurgical evaluation is underway to produce separate niobium (Nb2O5) and fertilizer-grade phosphorus (P2O5)concentrates from Prairie Lake mineralization. Already the secondlargest deposit of its kind in North America, this testing is designedto enhance Prairie Lake's economic viability.
"We've shown thatPrairie Lake is big and has the potential to become much bigger, anddemonstrated that we can produce a concentrate grading up to 23.6% P2O5using a non-optimized metallurgical process," said Paul Jones,President. "The potential to produce a concentrate containing greaterthan 30% P2O5 as well as an Nb2O5concentrate by optimizing the process is very real. This testing, ifsuccessful, combined with its location near existing power andtransportation infrastructure, will greatly enhance Nuinsco's ability tocreate value from the Prairie Lake project."
The tests will takeseveral months to complete and will evaluate optimized gravity,flotation and magnetic separation methods. A 1,000kg sample wassubmitted to COREM in Quebec City to evaluate production of an apatiteconcentrate that can attain the requirements of the fertilizer industry -namely P2O5 content of >30%, CaO/P2O5<1.6% and magnesium oxide ("MgO") content <1%. COREM conducted anearlier metallurgical program on Prairie Lake mineralization (see newsrelease dated Nov. 4, 2010) in which it was demonstrated that theproduction of high grade phosphorus concentrates is possible. Productionof a second and distinct niobium/pyrochlore concentrate will also beinvestigated.
About Prairie Lake
Located about 45 kilometres northwest of Marathon, Ontario, Nuinsco's Prairie Lake property covers the entire 2.8 km2(at surface) Prairie Lake Carbonatite Complex and is easily accessiblefrom the TransCanada Highway. The Prairie Lake project hosts anExploration Target Mineralization Inventory ("ETMI") of 515 - 630million tonnes grading between 0.09-0.11% Nb2O5 (0.9 to 1.1 kg/tonne) and 3.0-4.0% P2O5 (see news release dated October 26, 2011).
TheETMI increase places Prairie Lake well within the ranks of the tenlargest carbonatite-hosted niobium deposits in the world. In NorthAmerica, Prairie Lake is second only to the Iron Hill Project inColorado owned by Colorado Rare Earths Inc., in contained tonnes (theaverage grade at Prairie Lake is however greater). All of themineralization is exposed at surface and could be exploited by simplequarrying methods. The suite of minerals of potentially economicsignificance also includes tantalum (Ta), uranium (U) and rare earthelements (REE) (including lanthanum (La), cerium (Ce), samarium (Sm),neodymium (Nd) and yttrium (Y)).
The ETMI was undertaken by EugenePuritch, P.Eng. and Antoine Yassa, P.Geo of P&E Mining ConsultantsInc. of Brampton, Ontario. All exploration work is supervised by PaulJones, P.Geo, President, who acts as Nuinsco's Qualified Person underNational Instrument 43-101. Mr Jones has reviewed and approved thecontents of this news release. The potential quantity and grade of theETMI is conceptual in nature and there has been insufficient explorationto define a mineral resource. It is uncertain if further explorationwill result in the discovery of a mineral resource.
About Nuinsco Resources Limited
Nuinscois a growth-oriented, multi-commodity mineral exploration company thatis focused on world-class mineralized belts in Canada, Turkey, Egypt andSudan. In addition to its property holdings, Nuinsco owns common sharesin Coventry Resources Limited (ASX:CVY) and Victory Nickel Inc.(TSX:NI). Shares of Nuinsco trade on the Toronto Stock Exchange underthe symbol NWI.
Please visit the Company's website at www.nuinsco.ca. Should you wish to receive Company news via email, please [e-mail] and specify "Nuinsco Resources" in the subject line.
FORWARD-LOOKING STATEMENTS: Thisnews release contains certain "forward-looking statements." Allstatements, other than statements of historic fact, that addressactivities, events or developments that Nuinsco believes, expects oranticipates will or may occur in the future are forward-lookingstatements. Forward-looking statements are often, but not always,identified by the use of words such as "seek," "anticipate," "believe,""plan," "estimate," "expect," and "intend" and statements that an eventor result "may," "will," "can," "should," "could," or "might" occur orbe achieved and other similar expressions. These forward-lookingstatements reflect the current expectations or beliefs of Nuinsco basedon information currently available to Nuinsco. Forward-lookingstatements are subject to a number of risks and uncertainties that maycause the actual results of Nuinsco to differ materially from thosediscussed in the forward-looking statements, and even if such actualresults are realized or substantially realized, there can be noassurance that they will have the expected consequences to, or effectson Nuinsco. Factors that could cause actual results or events to differmaterially from current expectations include, among other things,failure to successfully complete financings, capital and other costsvarying significantly from estimates, production rates varying fromestimates, changes in world copper and/or gold markets, changes inequity markets, uncertainties relating to the availability and costs offinancing needed in the future, equipment failure, unexpected geologicalconditions, imprecision in resource estimates, success of futuredevelopment initiatives, competition, operating performance offacilities, environmental and safety risks, delays in obtaining orfailure to obtain tenure to properties and/or necessary permits andapprovals from government authorities in Egypt and elsewhere, and otherdevelopment and operating risks. Any forward-looking statement speaksonly as of the date on which it is made and, except as may be requiredby applicable securities laws, Nuinsco disclaims any intent orobligation to update any forward-looking statement, whether as a resultof new information, future events or results or otherwise. AlthoughNuinsco believes that the assumptions inherent in the forward-lookingstatements are reasonable, forward-looking statements are not guaranteesof future performance and accordingly undue reliance should not be puton such statements due to the inherent uncertainty therein.
To view the map associated with this release, please visit the following link: https://media3.marketwire.com/docs/nuinsco_resources_map_nov30.pdf