Nuinsco Announces High-Grade Results with Visible Gold from Sunbeam Gold Property

High-Grade Values up to 122g/t Gold returned from Sunbeam Mine Area Quartz Veining

TORONTO, ON / ACCESSWIRE / March 21, 2019 / Nuinsco Resources Limited (“Nuinsco” or “the Company”) (CSE: NWI) today announced that analytical results received from samples collected around the Sunbeam Mine returned very high-grade results – up to 122 g/t (3.9 oz/t) gold from quartz vein material collected near the past-producing Sunbeam Mine shaft.

“The analytical results received from the sampling of rock at the Sunbeam Mine confirms our expectations of grade at the site and demonstrates that very high-grade gold mineralization is present,” said Paul Jones, CEO. “Given the known extent of the gold mineralization at the site from historic records and the confirmation of gold grade from our sampling, the Sunbeam area is a prime exploration target both down-dip and along-strike from the old workings.”

Twenty-eight grab samples, three of which contain visible gold, were collected from near the Sunbeam Mine (see attached table) – from outcrop, waste-dump material and debris in the Sunbeam shaft. All samples were analysed for gold and a sub-set were analysed for silver. The range of analytical results is <5ppb to 122g/t gold and <0.2g/t to 24.8g/t silver. The samples are from material mined from the Sunbeam mine workings during operations more than 100 years ago and from samples collected from surface near the historic Sunbeam Shaft. Higher gold grade is directly related to the amount of quartz vein and sulphide mineralization contained within a sample. Highest gold-grade samples contain pyrite, chalcopyrite, sphalerite and galena as well as visible gold grains.

The Sunbeam Gold Property, optioned by Nuinsco in 2017, encompasses numerous sites of gold mineralization and includes the historic Sunbeam mine, a high-grade underground gold mine that operated between 1898 and 1905, as well as the Roy and Pettigrew deposits and a number of other gold showings located on southwest striking trends that traverse the Sunbeam property. Mineralization at the Sunbeam mine is hosted by a 30m wide sheared zone of altered, schistose rock. Gold mineralization occurs within a southwest-striking quartz vein/chloritic zone that has been traced from surface to at least 100m vertically. A 1903 mine plan shows an average grade of ~13g/t Au in the historic workings (no qualified person, as defined by NI 43-101, has conducted sufficient verification to treat the reported grade as other than an historic grade). There has been no exploration of the formerly patented mine site since the mine closed 115 years ago. Intermittent exploration surrounding the patent area was conducted between 1981 and 2012.

The Sunbeam Gold Property consists of 101 unpatented mining claims situated 27km northeast of the town of Atikokan, Ontario, and 15km southeast of Agnico Eagle’s Hammond Reef gold deposit. It is easily accessible via well maintained logging roads from Hwy 11. All analyses were conducted by Activation Laboratories at their Thunder Bay facility (ISO/IEC 17025 Accredited (Lab 673) by the Standards Council of Canada).

Laura Giroux, M.Sc., P. Geo. is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release regarding the Sunbeam Project.

About Nuinsco Resources Limited

Nuinsco Resources has over 45 years of exploration suc­cess and is a growth oriented, multi-commodity mineral explora­tion and development company focused on prospective oppor­tunities in Canada and internationally. Currently the Company has two properties in Ontario – the high-grade Sunbeam gold prospect near Atikokan and the large, multi-commodity (rare-earths, niobi­um, tantalum, phosphorus) Prairie Lake project near Terrace Bay. In addition, Nuinsco recently completed an agreement go process gold-bearing dumps and tailings at the past-producing El Sid mine in the Eastern Desert of Egypt – a project with the potential to provide near-term revenue.

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, 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 learn more, please contact:

Paul Jones, CEO
paul.jones@nuinsco.ca
416 626-0470 x 229

Sean Stokes, Executive VP
sean.stokes@nuinsco.ca
416 626-0470 x 224

Cathy Hume, Consultant
cathy@chfir.com
416 868-1079 x 231

Website: www.nuinsco.ca
Twitter: @NWIResources

Sample ID

Description

Au_ppb_

Ag_gpt

Au_gpt

Fire Assay – AA

Fire Assay- Grav

Fire Assay – Grav

P210962

mine dump, mixed sheared host rock and minor QV

34

P210963

mine dump, mixed sheared host rock and minor QV

45

P210964

mine dump, mixed sheared host rock and minor QV

> 5000

7.11

P210965

mine dump, mixed sheared host rock and minor QV

182

P210966

mine dump, mixed sheared host rock and minor QV

< 5

P210967

mine dump, sheared host rock

8

P210968

mine dump, mixed sheared host rock and minor QV

< 5

P210969

mine dump, mixed sheared host rock and minor QV

< 5

P210970

mine dump, sheared host rock

< 5

P210971

mine dump, sheared host rock

18

P210972

mine dump, QV

101

P210978

mine shaft, QV, trace sulphide

> 5000

22.6

52.6

P210979

mine shaft, sheared host rock

104

1.8

P210980

mine dump, mixed sheared host rock and minor QV

46

< 0.2

P210981

mine dump, mixed sheared host rock and minor QV

1820

< 0.2

SS1

mine dump, mixed sheared host rock and minor QV

101

SS2

mine dump, mixed sheared host rock and minor QV

7

SS3

mine dump, mixed sheared host rock and minor QV

112

SS4

mine dump, mixed sheared host rock and minor QV

393

SQ1

QV, trace sulphide

555

SQ2

QV, trace sulphide

78

351601

mine dump, QV, trace sulphide, visible gold

> 5000

17.8

41

351602

mine dump, QV

1890

0.3

351603

mine dump, abundant QV

> 5000

14.7

9.31

351604

QV

161

< 0.2

351605

QV, sulphides, visible gold

> 5000

24.8

122

351606

mine dump, sheared host rock

29

0.4

351607

QV, sulphides, visible gold

> 5000

14

36.4

SOURCE: Nuinsco Resources Limited

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