Nuinsco Resources Limited

Nuinsco Resources Limited

January 10, 2011 17:33 ET

Nuinsco Announces Board Changes: T. Mike Young Resigns, Dr. J.M. Franklin Appointed

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2011) - Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX:NWI) ( today announced that Mr. T. Mike Young has tendered his resignation from the board of directors for personal reasons, effective immediately, and that Dr. James M. Franklin has been appointed as a director to fill the vacancy created by Mr. Young's resignation.

Bob Wardell, Chairman of the Board, stated: "Mike Young has been a director since 2005, and we sincerely thank him for his contribution and wish him the best in his future endeavours. James Franklin is a tremendously respected exploration geologist, and we welcome him to the board. Jim's expertise and experience will be a great asset as we execute an aggressive plan of exploration on our Egyptian, Turkish and Canadian assets in 2011 and beyond."

Dr. Franklin has over 40 years experience as a geologist. He is a graduate of Carleton University (B.Sc., M.Sc) and the University of Western Ontario (Ph.D.). Since January 1998, he has been an Adjunct Professor at Queen's University, since 2001, at Laurentian University and since 2005 at the University of Ottawa. He is a past President of both the Geological Association of Canada and of the Society of Economic Geologists. He retired as Chief Geoscientist, Earth Sciences Sector, the Geological Survey of Canada in 1998. Since that time, he has been a consulting geologist and is currently a director of Ur-Energy Inc. and Aura Silver.

About Nuinsco Resources Limited

Nuinsco Resources Limited is a growth-oriented, multi-commodity mineral exploration and development company that is focused on gold, uranium, rare metals, copper and zinc exploration in world-class mineralized belts in Canada, Turkey and Egypt. In addition to its property holdings, Nuinsco owns common shares in Coventry Resources Limited (ASX:CVY) and 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 historic 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
    Cathy Hume
    416.868.6198 (FAX)