Nuinsco Resources Limited
TSX : NWI

Nuinsco Resources Limited

October 20, 2008 09:00 ET

Nuinsco Receives Further Positive Drill Results From Berta Project

Significant copper porphyry system identified, remains open in all directions

TORONTO, ONTARIO--(Marketwire - Oct. 20, 2008) - Nuinsco Resources Limited ("Nuinsco")(TSX:NWI) (www.nuinsco.ca) today announced continued positive results from drilling at its Berta Project in northeastern Turkey. Assays from the second hole of the 2008 program returned intervals grading up to 5.07% copper over 4.5m which, in combination with past drilling, continues to delineate a large volume of strongly mineralized rock of unknown dimensions, open in all directions.

"We are very pleased with the drill results we are seeing at Berta and are getting a clear picture that we are dealing with a porphyry system of substantial size," said Paul Jones, President. "The assays from DDH SD-08-10 were comparable to those reported from previous drill holes, and highlight the enormous potential of the under explored Berta project."

DDH SD-08-10 returned 164.0m grading 0.20% Cu and 0.06g/t Au between 250.5m and 414.5m. Additional significant results are tabulated below. All analyses were conducted by ALS-Chemex through their preparation lab in Izmir, Turkey.



--------------------------------------------------------------
From To Interval Cu Au Ag
(m) (m) (m) (%) (g/t) (g/t)
--------------------------------------------------------------

129.7 153.1 23.4 0.61 0.19 -
Including
138.6 144.05 5.45 1.63 0.54 17

250.5 414.5 164.0 0.20 0.06 -

579.5 584.0 4.5 5.07 0.19 1.6

--------------------------------------------------------------


As with drill holes SD-07-08 and SD-08-09, SD-08-10 was collared to test a broad geophysical anomaly identified in the northern part of the altered and mineralized geology at Berta. The 777.0m drill hole was collared 400m south of SD-07-08 and 570m southeast of SD-08-09. Sulphide mineralization in all of the drill holes occurs as fracture fillings and disseminations; locally dense fracturing results in sulphide content exceeding 20%. The orientation of the mineralized domain is presently unknown and the assay intervals reported here are core length intervals. The relative abundance of copper, zinc and lead mineralization, the distribution of alteration and the rock types encountered in earlier short drill holes all suggest that previous drilling has tested the upper, outer edges of a large porphyry system. Importantly, drilling has identified elevated molybdenum values at depth in both SD-06-07 and SD-07-08.

The Berta Property is located approximately 50 kilometres south of the Black Sea in northeastern Turkey, within the prolifically mineralized Tethyan-Eurasian Metalogenic Belt which hosts numerous ore deposits in several countries including Iran's Sarcheshmeh Mine, one of the world's largest copper mines at 1.2 billion tonnes grading about 1% copper. The Berta porphyry is reputed to be the largest copper anomaly in the Turkish Pontides, covering 15 square kilometres and at least 1,000 metres of vertical elevation. Nuinsco recently signed a binding term sheet with Xstrata Copper ("Xstrata") one of the commodity business units within Xstrata plc (London Stock Exchange: XTA.L and Zurich Stock Exchange: XTRZn.S) giving Nuinsco the right to acquire the 50% interest in the Berta Property held by Xstrata. The 2008 drill program was operated by Xstrata. P.L. Jones, President, acts as Nuinsco's Qualified Person under National Instrument 43-101.

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 nickel, copper, zinc, uranium 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.

To view the map of the Berta Project, Turkey, please visit the following link: http://media3.marketwire.com/docs/nuinsco1020.pdf

Contact Information

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