Nuinsco has up to Feb. 2 to close private placement

Executive Summary

• Nuinsco Resources extended the closing date for its non-brokered private placement of flow-through and common shares to February 2, 2026.
• The company is authorized to issue up to 100 million shares at a price of $0.005 per share, with proceeds designated for advancing the Prairie Lake critical mineral project and general corporate purposes.
• The release highlights significant high-grade mineral resource domains identified at the Prairie Lake project, specifically a 65-million-tonne inferred domain grading 5.9% P2O5 and a 1.2-million-tonne indicated domain grading 5.8% P2O5, alongside positive metallurgical results for phosphate and rare earth element recovery.

Key Details

• Private Placement Terms:
  • Instrument: Non-brokered private placement of flow-through common shares and common shares.
  • Maximum Size: Up to 100 million flow-through shares and/or common shares.
  • Price: $0.005 per share.
  • Closing Date: Extended to February 2, 2026.
  • Use of Proceeds (Flow-Through Shares): To finance work to advance the Prairie Lake critical mineral project near Terrace Bay, Ontario.
  • Use of Proceeds (Common Shares): For future general corporate purposes.
• Prairie Lake Project Mineral Resource Update:
  • Total Resource Estimate: Close to 900 million tonnes (15.6 million tonnes indicated and 871.8 million tonnes inferred) using a 2% P2O5 cut-off grade.
  • High-Grade Domain Identification: Using an increased 5% P2O5 cut-off grade, the company identified:
    • A 65-million-tonne inferred domain grading 5.9% P2O5.
    • A 1.2-million-tonne indicated domain grading 5.8% P2O5.
  • Co-Products: The high-grade domain shows a coincident increase in Rare Earth Element (REE) co-concentrate grade.
  • Metallurgy: Studies confirm the reliable production of a clean phosphate concentrate containing valuable REE co-concentrate. Niobium co-product potential is being investigated.
• Logistical Advantages:
  • Access to local skilled workforce in nearby communities.
  • All-weather forest access road crossing the project.
  • Proximity to Highways 17 and 11.
  • Access to Canadian Pacific Railway and Canadian National Railway networks.
  • High-capacity (230-kilovolt) electrical power transmission line.
  • Proximity to Marathon deepwater port (50 km away), Thunder Bay, and Sault Ste. Marie ports.
  • Access to Marathon airport.
• Technical Reporting:
  • Technical report prepared by P&E Mining Consultants Inc.
  • NI 43-101 compliant, effective May 31, 2022.
  • Qualified Person: Laura Giroux, PGeo, Chief Geologist.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.