Nuinsco Resources Limited
TSX : NWI

Nuinsco Resources Limited

June 23, 2008 12:11 ET

Nuinsco Announces Management Appointments

TORONTO, ONTARIO--(Marketwire - June 23, 2008) - Nuinsco Resources Limited ("Nuinsco" or "the Company")(TSX:NWI)(www.nuinsco.ca) today announced the appointment of Alison Sutcliffe as Vice-President, Finance and Chief Financial Officer. Prior to her appointment, Rene Galipeau, Vice-Chairman and CEO, was the Acting CFO of the Company.

Ms. Sutcliffe is a Chartered Accountant who, since 2007, served as Controller, Resources at Dundee Corporation, with primary responsibility for accounting and reporting for Eurogas Corporation. Prior to joining Dundee, Ms. Sutcliffe spent 12 years with Deloitte and Touche in Canada and the UK and seven years with CIBC in Canada and the United States, culminating with the role of Chief Financial Officer with CIBC National Bank.

"I am very pleased with the skills Alison brings to the Nuinsco team," said Mr. Galipeau. "Alison's depth of experience in auditing, accounting, financial analysis and management and public company financial reporting and compliance will complement our current management group and be of significant benefit going forward."

In addition to her position with Nuinsco, Ms. Sutcliffe will also assume the role of Controller of Victory Nickel Inc. (TSX:NI). Victory Nickel is a pure-play nickel company, in which Nuinsco owns a 22% equity interest, with sulphide nickel projects in Manitoba and Quebec. Victory Nickel was created by Plan of Arrangement in early 2007 from Nuinsco's Minago, Mel and Lac Rocher nickel projects and to which Nuinsco provides management services.

The Company also announced the promotion of Sean Stokes to the position of Vice-President, Corporate Affairs & Corporate Secretary. This new title reflects Mr. Stokes' increased involvement in special projects and corporate development contributing to growth of the Company. Mr. Stokes will also serve in the same capacity with Victory Nickel.

About Nuinsco Resources

Nuinsco is focused on identifying mineral investment opportunities worldwide using its exploration programs and operating and financial expertise to crystallize value for its shareholders. In addition to its property holdings in Canada and Turkey, Nuinsco owns approximately 22% of the outstanding common shares of Victory Nickel Inc. (TSX:NI) and approximately 11% of the outstanding common shares of gold and copper producer Campbell Resources Inc. (TSX:CCH). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.

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
    (416) 626-0470
    or
    Nuinsco Resources Limited
    Paul Jones
    (416) 626-0470
    or
    Nuinsco Resources Limited
    Sean Stokes
    (416) 626-0470
    Email: admin@nuinsco.ca
    Website: www.nuinsco.ca