Nuinsco Resources Limited

Nuinsco Resources Limited

April 19, 2011 11:05 ET

Nuinsco Announces Highest Gold Grades to Date from Surface Sampling at Bukari Concession, Egypt

Large scale Talat Gadalla target mapped for 4 km along strike and up to 500 m width

TORONTO, ONTARIO--(Marketwire - April 19, 2011) - Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX:NWI) ( today announced assays that peak at 4.34 oz/tonne gold (135 g/t) from surface sampling at its Bukari gold concession in the Eastern Desert of Egypt.

These most recent results, reported here, are from the Talat Gadalla gold occurrence, located on the Bukari Concession, which was identified earlier this year by Nuinsco as having a four kilometre strike length (see news release dated February 23, 2011). A total of 328 surface samples were collected from the occurrence; over 52% returned values greater than 0.3 g/t gold, while 12% returned values of greater than 5.00 g/t gold.

"Talat Gadalla is the third of the named, historic gold occurrences on the Bukari Concession from which we have reported surface samples so far, and the results to date are extremely encouraging," said Paul Jones, President. "All three of these gold occurrences, Bukari One, Bukari North and Talat Gadalla, display good grades and extensive gold mineralization at surface, with Talat Gadalla returning the highest-grade assays so far. The combination of grade, a four kilometre known strike length and a 500 metre width of the surface expression illustrates the significant scale and potential of the Talat Gadalla gold occurrence."

The Talat Gadalla gold target comprises a system of narrow brittle-ductile shear zones and quartz veins cutting fine to medium-grained volcanic rocks. The analytical results are tabulated below.

0.3 g/t
5 g/t
10 g/t
20 g/t
30 g/t
All Grab Samples*328135.003.281713922127
Quartz Pods and Knots40.020.01
Unspecified Quartz Vein Samples5877.203.85269432
Quartz Vein & Andesite Combinations1025.53.305111
Quartz Vein & Shear Zone Combinations15115.59.11112111
Shear Zones3519.451.412221
Smoky-coloured Quartz Veins76135.005.695717843
White-coloured Quartz Veins5033.802.86187621
Miscellaneous (including dumps)2324.901.368111
*Grab samples are selective by nature and are unlikely to represent average grades on the property.

Talat Gadalla is located about 15 kilometres north of the Bukari One (strike length of 2.5 km) and Bukari North (strike length of 4.5 km) gold occurrences (see news releases dated January 19, 2011 and March 7, 2011). It is one of the principal, named, exploration targets on the Bukari concession, and was worked extensively during the Pharaonic, Roman and possibly Byzantine periods as evidenced by extensive trenches, pits, adits and shafts. More than 30 sites of historical gold production have been identified at Talat Gadalla; no modern work appears to have been conducted at the site.

The grab samples were analyzed by ALS Chemex, at their laboratory in Rosia Montana, Romania, using their ME-MS61 method (four-acid dissolution, 48 element ICP-MS). Gold was assayed by the Au-AA25 method (fire assay-atomic absorption finish). All exploration work is supervised by Paul Jones, President, who acts as QP under National Instrument 43-101 and has reviewed and approved the contents of this news release.

Nuinsco operates in Egypt through its subsidiary Z-Gold Resources Limited. The Bukari Concession Area is located about 50 kilometres northwest of Centamin Egypt Limited's flagship multi-million ounce Sukari Gold Mine which is being expanded to increase production to about 500,000 oz per year over the next three years.

About Nuinsco Resources Limited

Nuinsco is a growth-oriented, multi-commodity mineral exploration company that is focused on 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 tenure to properties and/or necessary permits and approvals from government authorities in Egypt and elsewhere, 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.

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