Nuinsco Resources Limited
TSX : NWI

Nuinsco Resources Limited

April 20, 2011 12:50 ET

Nuinsco Evaluates Additional Occurrences on Bukari Concession in Egypt

Three Showings Return Significant Results on Surface, Attest to Widespread Gold Mineralization

TORONTO, ONTARIO--(Marketwire - April 20, 2011) - Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX:NWI) (www.nuinsco.ca) today announced additional assay results from surface sampling that further confirm the extensive gold mineralization on its Bukari Concession in Egypt's Eastern Desert.

The work reported here was conducted on five gold occurrences, three of which are located on Nuinsco's Bukari concession area (Daghbag, Abu Muawaad and #8 Prospect - see map attached) and two (Gabal El Hadid and Umm Nar) which are located outside of the Company's Bukari and Umm Samra concessions.

"These occurrences, including #8 Prospect of which we were not previously aware, is further proof of the widespread gold mineralization on the Bukari Concession," said Paul Jones, President. "This area has not been subject to any modern exploration programs and absolutely no sub-surface exploration subsequent to Pharaonic/Roman activity where mining was only conducted to an approximate depth of 10m. We are convinced that the region hosts significant potential for discovery."

These occurrences are distinct from the previously-reported Bukari, Bukari North and Talat Gadalla gold occurrences which together comprise 11 kilometres of significantly gold-mineralized strike length in shear zone hosted quartz veins. At least ten samples have been collected from each of the occurrences tabulated below, all of which occur in a geological setting similar to Bukari, Bukari North and Talat Gadalla.

TargetTotal
Grab
Samples*

Au
(g/t)
Max

Over
0.3
g/t Au

Over
5
g/t Au

Over
10
g/t Au

Over
20
g/t Au

Over
30
g/t Au
Daghbag1712.901131--
Abu Muawaad1030.0063111
#8 Prospect1013.60411--
Gabal El Hadid230.08-----
Umm Nar150.15-----
*Grab samples are selective by nature and are unlikely to represent average grades on the property.

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.

Nuinsco Warrants: Expiry Pending

As a reminder to shareholders, Nuinsco closed a rights offering of units in April 2009. As part of each unit, participating shareholders received warrants. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.10, and must be exercised prior to 4:00 p.m. (Toronto time) on April 23, 2011.

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 www.nuinsco.ca. Should you wish to receive Company news via email, please email nadine@chfir.com 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.

To view the map included with this release, please visit the following link:
http://media3.marketwire.com/docs/nwimap.pdf

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