Nuinsco Resources Limited announced an initial Mineral Resource Estimate on its Prairie Lake Critical Minerals and Phosphate Project located near Terrace Bay, Ontario. As tabulated below, the pit constrained MRE consists of a 15.6 million tonne Indicated Mineral Resource and a very large 871.8 million tonne Inferred Mineral Resource in accordance with National Instrument 43101. The MRE also includes niobium and phosphate in oxides which, along with the TREO, are expected to be key drivers of a Preliminary Economic Assessment on the Project that will commence shortly.

The Prairie Lake MRE was conducted in accordance with National Instrument 43101 ("NI 43101") standards of disclosure and the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014). The Project benefits from a location in a politically stable jurisdiction; is exceptionally well located near available rail, road, shipping, and power infrastructure; and is ideally placed in North America with respect to current supply chain concerns for critical minerals. The Prairie Lake project consists of 46 mineral claims covering an area of ~630 ha and is superbly located, easily accessed by an allweather road from the TransCanada Highway located 28 kilometres to the south.

The MRE for the Prairie Lake project is based on 73 inclined diamond drill holes performed between 1969 and 2010 totalling 12,180 metres. Additionally 2,068 metres of surface trenching is included in the Mineral Resource Estimate. A total of 5,409 drill core samples and 1,042 channel samples are incorporated into the MRE, excluding QA/QC samples.

A length of 1.5 metres was used for composites and they were capped as follows: 1,850 g/t Nd2O3, 250 g/t Pr6O11,no cap Sc2O3, 1% Nb2O5, 14% P2O5, 3,700 g/t CeO2, 1,700 g/t La2O3, 520 g/t Sm2O3, no cap Ta2O5 and 570 g/t Y2O3. Grade interpolation was undertaken with the ID2 method on 10m x 10m x 10m blocks. Indicated Mineral Resources were classified within a 55m x 55m x 40m search ellipse and three drill holes while Inferred Mineral Resources were classified in two passes with a 110m x 110m x 80m search ellipse with two drill holes and subsequently a 220m x 220 m x 160m search ellipse with one drill hole.

Historical analyses were performed by Xray Assay Laboratories (Don Mills, Ontario) and Bondar Clegg and Company Ltd. (Ottawa, Ontario). All analyses since 2007 have been performed at Activation Laboratories in Ancaster, Ontario (ISO/IEC 17025:2005); samples were delivered to the Activation Laboratories facility in Thunder Bay (ISO/IEC 17025:2005), Ontario for preparation and onward delivery to Ancaster.