Nuinsco Resources Limited

Nuinsco Resources Limited

September 13, 2007 15:51 ET

Nuinsco Begins Receiving Assays From Drilling at Prairie Lake Uranium Property

First hole returns 2.3 lb/t U3O8 over 11.49 metres accompanied by other minerals

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2007) - Nuinsco Resources Limited ("Nuinsco")(TSX:NWI) ( today announced that complete assay results are now being received from the initial phase of diamond drilling conducted in June on its 100% owned Prairie Lake Project in northwestern Ontario. Results from hole DDH NP-07-01, collared at the centre of the complex returned 0.106% U3O8 (or 2.3 lb/t) over 13.5m (11.49m true width).

In addition to the uranium results, the same interval in hole DDH NP-07-01 returned 9.03% phosphorous, 1,744 ppm niobium, 89 ppm tantalum and elevated rare earth element (REE) values averaging a combined 2,986 ppm for lanthanum, cerium, neodymium, samarium as well as yttrium (1 ppm equals 1 g/t). These results occur within a broad envelope of anomalously mineralized rock intersected throughout the entire 90 metre length of the hole, exhibiting the economic significance and exploration potential of the Prairie Lake intrusive complex.

"Assays from this first hole clearly demonstrate the presence of strong uranium mineralization at Prairie Lake in conjunction with a suite of other minerals of economic interest," said Paul Jones, Vice-President, Exploration. "We have also completed a property-wide surface sampling program which will, for the first time, characterize the surface distribution of uranium, niobium, tantalum and phosphorous mineralization over the entire intrusive complex."

The Prairie Lake Project hosts a near-surface historic (non-NI-43-101-compliant) resource of over 180,000 tonnes grading 0.09% U308 (1.656 lb/tonne) and 0.25% niobium identified in limited exploration dating from the mid-1960s. A total of 15 drill holes (totalling 1,876 metres) were collared in the recent program to assess geology and mineralization for which outcrop exposure is poor.

The 2006 diamond drilling tested four widely separated sites around the western half of the Prairie Lake Complex. All of the work has been conducted to shallow levels which, with the large (2.8 km2) surface area of the Complex, provides enormous scope for the discovery of additional mineralization at depth. Complete assays from additional holes are expected shortly and will be released when received. Analyses are being conducted by Activation Laboratories of Ancaster, Ontario, Canada. Paul Jones acts as Nuinsco's Qualified Person under National Instrument 43-101.

About Prairie Lake

Located about 45 kilometres northwest of Marathon, Ontario, Nuinsco's Prairie Lake property covers the entire 2.8 km2 (at surface) Prairie Lake Carbonatite Complex and is easily accessible from the TransCanada Highway. The Prairie Lake Carbonatite intrusion is a vast exploration target that forms a prominent circular hill. Anomalous uranium mineralization is widespread throughout the intrusion in association with the minerals pyrochlore, uranpyrochlore and betafite.

About Nuinsco Resources

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. In addition to its property holdings, Nuinsco owns approximately 22% of the outstanding common shares of Victory Nickel Inc. (TSX:Ni) and approximately 9% of the outstanding common shares of gold and copper producer Campbell Resources Ltd. (TSX:CCH). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.

The resource estimate quoted herein is based on prior data and reports obtained and prepared by previous operators and the Company. The Company has not completed the work necessary to verify the classification of the mineral resource estimate. The Company is not treating the mineral resource estimate as NI 43-101 defined resources verified by a qualified person. The historical estimate should not be relied upon. This property requires considerable further evaluation which Nuinsco's management and consultants intend to carry out in due course.

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.

NOTE: To view a map of the Prairie Lake Property Northern, Ontario 2007 Drill Hole Locations, please click on the following link:

Contact Information