Nuinsco Resources Limited

Nuinsco Resources Limited

March 05, 2010 23:16 ET

Nuinsco and Coventry Agree to Extend Closing of Cameron Lake Sale

TORONTO, ONTARIO--(Marketwire - March 5, 2010) - Further to its press release of December 23, 2009, Nuinsco Resources Limited ("Nuinsco" or the "Company") (TSX:NWI)( today announced that it has agreed with Coventry Resources Limited ("Coventry") (ASX:CVY) to extend the closing date for its sale of the Cameron Lake Gold Project. The Binding Heads of Agreement between Nuinsco and Coventry has also been amended to provide that the parties shall enter into the definitive Sale and Purchase Agreement upon closing.

The parties anticipate receipt of all regulatory approvals to allow the closing of the sale of the Cameron Lake Gold Project to occur in April 2010.


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 and is investigating opportunities in Egypt. In addition to its property holdings, Nuinsco owns approximately 9% of the outstanding common shares of Gold Hawk Resources Inc. and approximately 2% of the outstanding common shares of Victory Nickel Inc. (TSX:NI). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.

Please visit the Company's website at Should you wish to receive Company news via email, please email and specify "Nuinsco Resources" in the subject line.

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.

Contact Information

  • Nuinsco Resources Limited
    Rene Galipeau or Sean Stokes
    416.626.0890 (FAX)
    CHF Investor Relations
    Robin Cook
    Senior Account Manager
    416.868.1079 ext. 228
    416.868.6198 (FAX)
    CHF Investor Relations
    Catarina Cerqueira
    Associate Account Manager
    416.868.1079 ext. 251
    416.868.6198 (FAX)