Nuinsco Resources Limited, today announced that P&E Mining Consultants Inc. ("P&E") has completed an Exploration Target Mineralization Inventory (ETMI) estimate that demonstrates the huge scale and potential economic significance of Nuinsco's 100% owned, Prairie Lake Project in northwestern Ontario.

The ETMI sets the target estimate for the two areas drill-tested to date, the SW Zone and Jim's Showing (see map below), at between 330 and 360 million tonnes averaging 3.5% to 3.7% P2O5 and 0.12% to 0.14% Nb2O5 (1.2 to 1.4 kg/tonne). In addition to phosphorous and niobium, the suite of minerals of economic significance includes tantalum (Ta), uranium (U) and rare earth elements (REE) (including lanthanum (La), cerium (Ce), samarium (Sm), neodymium (Nd) and yttrium (Y)).

"We are very encouraged by the modelling which confirms the potential for significant tonnage at Prairie Lake, particularly given growing demand for tantalum, niobium and REEs in the electronics and other industries" said Paul Jones, President. "The ETMI compares very favourably in terms of grade and tonnage with other reported programs on similar targets, and Prairie Lake still has excellent exploration potential, as evidenced by the fact that the surface area used to define the ETMI covers just 12% of the total surface area of the Prairie Lake complex."

No drilling whatsoever has yet been conducted into the north and east of the intrusive complex providing easily accessible, unexplored, subsurface potential. The ETMI has been defined from 48 of the 66 existing diamond drill holes.

The ETMI, tabulated below, forms part of a 43-101 Technical report to be released within 45 days of this press release.

The ETMI was estimated by Eugene Puritch, P.Eng and Antoine Yassa, P.Geo. of P&E Mining Consultants Inc. of Brampton, Ontario utilizing an average 3.0 tonne per cubic metre bulk density as determined from site visit verification sample analyses performed by SGS Canada. The SW Zone and Jim's Showing have sufficient drill-hole density to allow an ETMI; little or no drilling has been conducted elsewhere on the intrusion.

Recent metallurgical testing by Nuinsco indicates that dense media separation and magnetic separation processing are a means of producing concentrates from Prairie Lake containing mineralization of sufficiently elevated grade to be of potential economic interest (see Nuinsco news release of October 19, 2009). In particular a non-magnetic concentrate returned mean values of 9.4% P2O5, 0.29% Nb2O5, 35.9 ppm Ta, and 2808 ppm combined rare earth elements. Results of additional metallurgical testing will be reported shortly.

Project highlights are:

- Located just 28km north of the Trans Canada Highway and the CPR railway
and accessible year round by an all-weather gravel road which actually
crosses the property.
- The Prairie Lake Carbonatite Complex has a surface area of 2.8 km2
(approximately 2km north-south by 1.7km east-west) with a pronounced
circular topographic expression and relief of 5-70m above the
surrounding plain, further enhancing access to the project.
- Jim's Showing Area at Prairie Lake hosts a near-surface historic (non-
NI-43-101-compliant) uranium resource of over 180,000 tonnes grading
0.09% U3O8 and 0.25% Nb2O5.
- The ETMI was derived from core samples drilled at Prairie Lake from 1969
to 2008 with 2,502 Nb2O5 analyses, 2,484 P2O5 analyses and 1,755 Ta2O5
analyses.
- Mineralization occurs at surface and carbonatite rock continues to
depths of at least 500m with grades similar to those at and near
surface. For example: 3.16% P2O5, 0.104% Nb2O5, and 32ppm Ta2O5 over
82.32m (DDH NP0809; 443 to 525.58m) and 3.96% P2O5, 0.082% Nb2O5 and
25ppm Ta2O5 over 372m (DDH NP0810; 125 to 497m).(1)
- Higher grade intervals indicate potential for domains of elevated
grade(1):
-- 18.05% P2O5, 0.76% Nb2O5 and 0.018% Ta2O5 over 1 metre (DDH NP0709;
49-50m)
-- 6.12% P2O5, 1.01% Nb2O5 and 0.007% Ta2O5 over 1 metre (DDH NP0711;
97.5-98.5m)
-- 4.41% P2O5, 0.37% Nb2O5 and 0.059% Ta2O5 over 1 metre (DDH NP0711;
23.75-24.75m)
(1) Analyses were conducted by Activation Laboratories of Ancaster, Ontario,
Canada.