SOURCE: Nuinsco Resources Limited

May 03, 2006 15:43 ET

Nuinsco Appoints Normand Lecuyer, P. Eng., as Vice-President, Quebec Operations

Lecuyer to Lead Expansion Into Chibougamau Camp Under Recent Campbell Resources Deal

TORONTO -- (MARKET WIRE) -- May 3, 2006 -- Nuinsco Resources Limited (TSX: NWI) (www.nuinsco.ca) ("Nuinsco") today announced the appointment of Mr. Normand Lecuyer, P. Eng., to the position of Vice-President, Quebec Operations. With more than 29 years of experience in mine operations, development and engineering, Mr. Lecuyer will play a key role in Nuinsco's expansion into Chibougamau mining camp under its recent agreement with Campbell Resources Inc. ("Campbell").

On April 24, 2006, Nuinsco announced that it will take an up to 29% equity interest in Campbell; assume operating management of Campbell's copper and gold mines near Chibougamau, Quebec; and, receive a 50% interest in the advanced Corner Bay copper deposit. Mr. Lecuyer will be responsible for providing management services at Campbell's Joe Mann gold mine and Copper Rand copper-gold mine under Nuinsco's Operating Management Agreement with Campbell. In addition, he will be instrumental in advancing the Corner Bay deposit, in the development of Nuinsco's other advanced-stage projects and in future acquisitions as Nuinsco expands its production capacity.

"I am very pleased to welcome Norm to Nuinsco," said Brian E. Robertson, President. "In addition to having worked in the Chibougamau camp, he brings the operating, development, and engineering experience necessary to expand production at Campbell's two operating mines and bring the Corner Bay deposit into production."

Mr. Lecuyer is a Professional Engineer who received his education from the Haileybury School of Mines in Haileybury, Ontario, and Queen's University in Kingston, Ontario, where he graduated with as a B.Sc. (Honours) Mining Engineering in 1976. During his career he has gained experience in all aspects of planning, development and operation of copper and gold mines in Canada and overseas.

Nuinsco Annual Meeting Reminder

Shareholders should note that Nuinsco has rescheduled its Annual and Special Meeting. The Annual and Special Meeting of Shareholders will now be held at 11:00 am (Toronto time) June 14, 2006 at the Dominion Club, 1 King St. W., Toronto, Ont.

About Nuinsco Resources

Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is prepared for production and focused on growth through uranium, nickel, copper, zinc and gold exploration and development in world-class mineralized belts in Canada and Turkey. 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

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    W. Warren Holmes, CEO
    Brian Robertson, President
    Nuinsco Resources Ltd.
    (416) 626-0470
    Email Contact

    Kelly Boatright
    The Windward Agency
    (866) 583-6300
    Email Contact