Mr. Paul Jones reports

NUINSCO PROVIDES UPDATE ON PRIVATE PLACEMENT

The continuing non-brokered private placement of flow-through common shares and common shares can close on up to Feb. 2, 2026.

Under the private placement, the company can issue up to 100 million flow-through shares and/or common shares, dependent on investor demand, priced at 0.5 cent. Proceeds from the sale of flow-through shares will be used to finance work to advance the company's Prairie Lake critical mineral project located near Terrace Bay, Ont. Proceeds from the sale of common shares will be used for future general corporate purposes.

Nuinsco's focus project, Prairie Lake, is a critical mineral asset with a phosphate/rare earth element mineral resource estimate of close to 900 million tonnes (15.6 million tonne indicated and 871.8 million tonne inferred, using a 2-per-cent-P2O5 cut-off grade) -- see MRE table below. Crucially, using an increased 5-per-cent-P2O5 cut-off grade, as reported Aug. 13, 2024, has led to the identification of a domain that comprises a 65-million-tonne inferred MRE sensitivity grading 5.9 per cent P2O5 and a 1.2-million-tonne indicated MRE sensitivity grading 5.8 per cent P2O5, within the existing MRE, and with a coincident increase in REE co-concentrate grade. The presence of such a domain of higher-grade critical mineral endowment combined with a multitude of favourable characteristics -- technical, logistical, geographic and strategic necessity -- may have great significance to the development of Prairie Lake.

Metallurgical studies to date demonstrate that a clean phosphate concentrate, containing valuable REE co-concentrate, can be reliably produced from Prairie Lake rock. The potential for niobium co-product is also apparent and is being investigated.

The elements found at Prairie Lake are essential for applications in transportation, power distribution and storage, steel fabrication, green technologies, and agriculture, to name a few. The project boasts substantial, already established, logistical advantages, including easy access to:

• Nearby communities -- all able to supply a local, skilled work force;
• An all-weather forest access road crossing the project and deposit;
• Paved highways 17 and 11 to the south and north, respectively;
• Canadian Pacific Railway and Canadian National Railway networks;
• A high-capacity (230-kilovolt) electrical power transmission line;
• The Marathon deepwater port project (50 kilometres away), able to accommodate ocean-going ships; deepwater ports are also located at Thunder Bay and Sault Ste. Marie, Ont.;
• The Marathon airport.

A full description of methodology used to estimate the Prairie Lake project mineral resource estimate is contained in the National Instrument 43-101-compliant technical report, effective date May 31, 2022, prepared by P&E Mining Consultants Inc. that is filed on SEDAR+.

Laura Giroux, PGeo, chief geologist, acts as Nuinsco's qualified person under National Instrument 43-101. Ms. Giroux has reviewed and approved the technical content of this news release.

About Nuinsco Resources Ltd.

Nuinsco Resources has over 50 years of exploration success and is a growth-oriented, multicommodity mineral exploration and development company focused on prospective opportunities in Canada and internationally. Currently, the company has the large multicommodity (phosphate, rare earth element, niobium and tantalum) Prairie Lake project near Marathon-Terrace Bay, the Zig Zag Lake property (lithium and tantalum) near Armstrong optioned to First Class Metals PLC, and the el Sid near-term gold project in Egypt, and retains a net smelter return royalty on the Sunbeam gold property near Atikokan.

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