(TheNewswire)
Toronto – TheNewswire - March 1, 2023 –Nuinsco Resources Limited (“ Nuinsco ” or the “ Company ”) (CSE:NWI)today announced the appointment, effective immediately, of Mr.Alastair Neill and Dr. David Mchaina as technical advisors to theCompany.
Paul Jones, Nuinsco’s CEO, stated: “We are pleasedthat Mr. Neill and Dr. Mchaina have agreed to assist Nuinsco’smanagement and Board of Directors with the development and executionof a strategy to create value from the Company’s projects,specifically the Prairie Lake Critical Minerals and Phosphate projectlocated approximately 50 kilometres northwest of Marathon, Ontario.Their collective expertise and relationships in rare earths processingand marketing, regulatory frameworks, environmental permitting, andstakeholder consultation will enhance Nuinsco’s ability to advanceits existing and future assets.”
Mr. Neill has been involved in the rare earth sectorfor almost 30 years, making him a tremendous resource for the Companyat a time of rapidly evolving circumstances in the critical metalsmarkets. His knowledge and understanding of the complex criticalmetals marketplace will be of enormous value and will provide contextfor decision making going forward. Mr. Neill has held seniormanagement positions responsible for sale and purchase, productdevelopment, marketing, R&D, and business development of severalrare earth enterprises in North America and Asia, including spending10 years on-site in China and Mongolia.
Dr. Mchaina returns to Nuinsco after several years onother projects. He has considerable familiarity with the PrairieLake project and is therefore already well along the project learningcurve and can provide immediate and invaluable input to itsdevelopment. Dr. Mchaina will provide expertise in environmental andsocial impact assessment, permitting, stakeholder engagement, andmining engineering. He has over 40 years of experience in theexploration, development and mining sector having worked in positionsof progressive seniority on projects requiring diverse knowledgeacross Canada and internationally in Europe, Africa, South America,and the Middle East
The Prairie Lake project is a large , well located, source of critical minerals and phosphate inNorth America. It is a potential source of elements needed forapplications in agriculture, transportation, power distribution,energy storage, , , green technologies and a host of others.. It isof immense value to a secure critical minerals supply chain; an issueidentified by numerous governments in the recent past, addressed withincentives and programs to encourage development of the criticalminerals sector. Prairie Lake is located near the north shore ofLake Superior, putting it in close or easily accessible reachof:
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The towns of Marathon and Terrace Bay, able to supplyskilled, local workforce.
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Paved Highways 17 and 11.
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Canadian Pacific Railway and Canadian National Railwaynetworks.
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High capacity (230kV) electrical power transmissionline.
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Only 50km from the Marathon deep water port project.Deep-water ports also located at Thunder Bay and Sault Ste. Marie –ready access to global markets.
Grant of Incentive StockOptions
Pursuant to its stock option plan, the Company hasgranted stock options (“ Options ”) to certain directors, officers,employees and consultants of the Company to acquire up to an aggregateof 9,600,000 common shares in the capital stock of the Company. TheOptions are exercisable at a price of $0.005 per share for a period offive years from the date of grant.
Nuinsco at PDAC
Nuinsco is participating at the PDAC 2023 Convention. Pleasecome visit us in the Investors Exchange on Tuesday and Wednesday March7-8 in Booth number: 2414B.
About Nuinsco ResourcesLimited
Nuinsco Resources has over 50years of exploration success and is a growth-oriented,multi-commodity mineral exploration and development company focusedon prospective opportunities in Canada and internationally.Currently the Company has three properties in Ontario – the largemulti-commodity (phosphate, rare earth element, niobium, tantalum)Prairie Lake project near Marathon-Terrace Bay, the Zig Zag Lakeproperty (lithium, tantalum) near Armstrong, andthe high-grade Sunbeam gold property near Atikokan currently optionedto First Class Metals PLC. In addition, Nuinsco has an agreement forgold exploitation at the El Sid project in the Eastern Desert ofEgypt.
Forward-LookingStatements
This news release contains certain"forward-looking statements." All statements, other thanstatements of historic fact, that address activities, events ordevelopments that Nuinsco believes, expects or anticipates will or mayoccur in the future are forward-looking statements. Forward-lookingstatements are often, but not always, identified by the use of wordssuch as "seek," "anticipate," "believe,""plan," "estimate, “expect," and"intend" and statements that an event or result"may," "will," "can,""should," "could," or "might" occur orbe achieved and other similar expressions. These forward-lookingstatements reflect the current expectations or beliefs of Nuinscobased on information currently available to Nuinsco. Forward-lookingstatements are subject to a number of risks and uncertainties that maycause the actual results of Nuinsco to differ materially from thosediscussed in the forward-looking statements, and even if such actualresults are realized or substantially realized, there can be noassurance that they will have the expected consequences to, or effectson Nuinsco. Factors that could cause actual results or events todiffer materially from current expectations include, among otherthings, failure to successfully complete financings, capital and othercosts varying significantly from estimates, production rates varyingfrom estimates, changes in world copper and/or gold markets, changesin equity markets, uncertainties relating to the availability andcosts of financing needed in the future, equipment failure, unexpectedgeological conditions, imprecision in resource estimates, success offuture development initiatives, competition, operating performance offacilities, environmental and safety risks, delays in obtaining orfailure to obtain tenure to properties and/or necessary permits andapprovals, and other development and operating risks. Anyforward-looking statement speaks only as of the date on which it ismade and, except as may be required by applicable securities laws,Nuinsco disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although Nuinsco believes thatthe assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and accordingly undue reliance should not be put on suchstatements due to the inherent uncertainty therein.
To learn more, please visit www.nuinsco.ca or contact: | ||||
Paul Jones, CEO | Sean Stokes, Executive VP | Cathy Hume, Consultant | Instagram: @nuinscoresources | |
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