Nuinsco Options Paradise Lake Gold Project in Central Newfoundland

Nuinsco Resources Ltd. signed an arm‑length option agreement on 8 April 2026 to acquire a 100 % interest in the 3,300 ha Paradise Lake gold project in central Newfoundland. The deal is structured over four years with staged cash payments (total up to C$1 million) and share issuances (aggregate value ≈ C$475 k). A minimum cumulative exploration spend of C$2 million must be met by the fourth anniversary. Historical work on Paradise Lake shows widespread anomalous gold mineralization, including several high‑grade drill intercepts (>6 g/t Au over 0.5 m) and extensive till/rock sampling.

Key terms:
- Cash payments: $50k (Year 0), $50k (Y1), $75k (Y2), $100k (Y3), $125k (Y4).
- Share issuances: equivalent cash‑value amounts, totaling $475k.
- Exploration spend milestones: $250k (Y1), $350k (Y2 cumulative ≥$600k), $400k (Y3 cumulative ≥$1 M), $1 M (Y4 cumulative ≥$2 M).

Qualified Person: Laura Giroux, P.Geo., Chief Geologist (NI 43‑101).

• Diversification: Until now Nuinsco’s pipeline has been centred on the Prairie Lake critical‑metals project (phosphate, REE, Nb, Ta). Adding a pure gold asset introduces exposure to a higher‑price commodity and broadens the company’s market appeal.
• Resource upside: The disclosed historic drilling indicates multiple >6 g/t Au intercepts at shallow depth, suggesting potential for an economically viable deposit pending further work. This is materially new information beyond prior announcements focused on critical minerals.
• Financing impact: The option requires modest cash outlay (C$1 M) and share dilution (~C$475k), which is small relative to the company’s existing capital base (private placements totalling ≈ C$2 M). No immediate financing strain is evident.
• Risk profile: Execution risk remains – the spend milestones must be met, and further drilling will be needed to confirm a mine‑ready resource. However, the staged nature limits cash exposure if results are disappointing.

Overall, the acquisition represents a material positive development: it adds a new commodity, leverages existing exploration expertise, and requires limited capital, while offering upside potential that could materially improve valuation if gold resources are confirmed.

Nuinsco Resources Ltd. is a junior explorer focused on critical minerals (phosphate, REE, niobium, tantalum) at the Prairie Lake project in Ontario. The newly announced Paradise Lake gold project in central Newfoundland becomes its flagship gold asset, covering 3,300 ha with historic high‑grade drill intercepts.