Nuinsco Resources Limited
TSX : NWI

Nuinsco Resources Limited

January 07, 2008 13:05 ET

Drilling Confirms Significant Economic Potential of Nuinsco's Prairie Lake Uranium Property

Project hosts suite of economically interesting minerals in addition to historic uranium resource

TORONTO, ONTARIO--(Marketwire - Jan. 7, 2008) - Nuinsco Resources Limited ("Nuinsco")(TSX:NWI)(www.nuinsco.ca) announced today that complete assay results have now been received from the most recent drill program on its 100% owned Prairie Lake property in northwestern Ontario. All holes returned uranium values, and this drilling confirms the abundance of a suite of minerals of economic interest including niobium (Nb), tantalum (Ta), phosphorous (P) and rare earth elements (REE) including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y).

"This drill program continued to expand our knowledge of the economic potential of the underexplored, easily accessible Prairie Lake property," said Paul Jones, President. "The broad suite of minerals at Prairie Lake further expands the potential for economic success; with high tech, industrial, agricultural and of course nuclear energy applications, the project is uniquely placed to benefit from demand in all of these sectors. These results clearly demonstrate the need for additional, aggressive exploration on this undervalued asset within Nuinsco's portfolio of properties."

A total of 15 holes (comprising 1,876 metres) were drilled to shallow depth in four widely separated sites around the western half of the Prairie Lake property where there is little outcrop because of extensive weathering of the carbonatite. Significant mineralization has been encountered at all depths drilled, generally from surface to 150 metres which, with the large surface area of 2.8km (2), provide enormous scope for the discovery of additional mineralization.

Full results are tabulated below. All intervals are core lengths, not true widths. Analyses were conducted by Activation Laboratories of Ancaster, Ontario, Canada. Paul Jones, President, acts as Nuinsco's Qualified Person under National Instrument 43-101.



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Y+La
+Ce+
From To Width Nb Nb2O5 Ta U U3O8 P2O5 Nd+Sm
Hole ID (m) (m) (m) (ppm) (%) (ppm) (ppm) (%) (%) (ppm)
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NP0701 58.6 72.1 13.5 1744 0.249 89 1062 0.125 9.03 3103

NP0702 69.25 85 15.75 1892 0.271 39 100 0.012 2.80 ---

NP0703 145.72 151 5.28 1731 0.248 123 1013 0.119 9.05 ---

NP0704 15.35 39.7 24.35 1283 0.184 22 56 0.007 3.93 ---
140 149 9 1500 0.215 86 598 0.070 4.77 ---

NP0705 110.25 117.5 7.25 765 0.109 29 11 0.001 2.14 ---

NP0706 7.5 38.93 31.43 1667 0.238 23 50 0.006 4.48 ---

NP0707 54 56 2 640 0.091 50 566 0.067 6.89 ---

NP0708 24 30 6 761 0.109 38 278 0.033 7.98 ---

NP0709 13.2 57.5 44.3 1307 0.187 54 109 0.013 5.06 2355
includes 16 21 5 1029 0.147 68 427 0.050 8.29 3856
and 49 57.5 8.5 2239 0.320 72 142 0.017 9.18 3616

NP0710 17.22 21.8 4.58 4957 0.709 39 81 0.010 5.76 ---
and 32.8 36.62 3.82 4190 0.599 49 82 0.010 4.68 ---
and 70.4 75 4.60 2447 0.350 40 54 0.006 3.30 ---

NP0711 2.7 101 98.3 837 0.120 48 89 0.011 4.10 1376
includes 21.85 28.2 6.35 2544 0.364 334 387 0.046 4.21 916
and 96.7 101 4.3 3965 0.567 33 27 0.003 4.26 912
with 97.5 98.5 1 7050 1.009 57.2 31.7 0.004 6.12 1187

NP0712 10.95 27.33 16.38 1368 0.196 81 185 0.022 4.66 ---
includes 22.7 27.33 4.63 1689 0.242 116 267 0.031 6.21 ---

NP0713 88.6 90.55 1.95 1245 0.178 56 99 0.012 3.08 949

NP0714 32.55 50 17.45 1929 0.276 99 965 0.114 8.54 ---
includes 37.5 50 12.5 1881 0.269 104 1054 0.124 9.03 ---

NP0715 21.97 35 13.03 1747 0.250 112 883 0.104 7.59 ---
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About Prairie Lake

Located about 45 kilometres northwest of Marathon, Ontario, Nuinsco's Prairie Lake property covers the entire 2.8 km(2) (at surface) Prairie Lake Carbonatite Complex and is easily accessible from the TransCanada Highway. The Prairie Lake property hosts a near-surface historic (non-NI-43-101-compliant) resource of over 180,000 tonnes grading 0.09% U308 (1.656 lb/tonne) and 0.25% niobium identified in limited exploration dating from the mid-1960s. The Prairie Lake Carbonatite intrusion is a vast exploration target that forms a prominent circular hill. Anomalous uranium mineralization is widespread throughout the intrusion in association with the minerals pyrochlore, uranpyrochlore and betafite.

About Nuinsco Resources

Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is focused on uranium, copper, zinc and gold exploration and development in world-class mineralized belts in Canada and Turkey. In addition to its property holdings, Nuinsco owns approximately 22% of the outstanding common shares of Victory Nickel Inc. (TSX:Ni) and approximately 9% of the outstanding common shares of gold and copper producer Campbell Resources Ltd. (TSX:CCH). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.

The resource estimate quoted herein is based on prior data and reports obtained and prepared by previous operators and the Company. The Company has not completed the work necessary to verify the classification of the mineral resource estimate. The Company is not treating the mineral resource estimate as NI 43-101 defined resources verified by a qualified person. The historical estimate should not be relied upon. This property requires considerable further evaluation which Nuinsco's management and consultants intend to carry out in due course.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." 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 are forward-looking statements. 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 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 or beliefs of Nuinsco based on information currently available to Nuinsco. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Nuinsco. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from government authorities, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Nuinsco believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

To view a map of the Prairie Lake Property Drill Plan, please visit the following link: http://www.ccnmatthews.com/docs/nwi107.pdf

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