Nuinsco Resources Limited announced that it has entered into an option agreement with First Class Metals PLC on the Company's Sunbeam gold project near Atikokan, Ontario. Under the terms of the Agreement, FCM can acquire a 100% interest in the Project on the following basis: making aggregate payments to Nuinsco of CAD 700,000 in three tranches comprising: CAD 400,000 within 10 (ten) business days of the execution of the Agreement; CAD 150,000 prior to the four-month anniversary of execution of the Agreement; and, CAD 150,000 prior to the eight-month anniversary of execution of the Agreement; expending on the Project CAD 750,000 in exploration expenses within three years of executing the Agreement, of which $50,000 must be spent in the first year; paying to Nuinsco CAD 250,000 upon estimating an Indicated Resource containing 250,000 ounces of gold, and paying to Nuinsco an additional CAD 250,000 upon estimating an additional Indicated Resource containing 250,000 ounces of gold (for a total Indicated Resource containing 500,000 ounces of gold); and, providing to the Company a 1% net smelter return royalty.