Mr. Paul Jones reports

NUINSCO FOLLOWS-UP ON POSITIVE METALLURGICAL RESULTS WITH AN EXPANDED PROGRAM AT THE PRAIRIE LAKE CRITICAL MINERALS PROJECT

Nuinsco Resources Ltd., on the strength of the positive metallurgical results reported on Aug. 5, 2026, by SGS Canada Inc., is expanding the metallurgical studies on mineralization from its Prairie Lake critical minerals project, located near Terrace Bay in Ontario.

"The recently completed metallurgical studies at SGS Lakefield produced positive results, demonstrating that an attractive grade of phosphate concentrates, with REEs, can be produced at acceptable rates of P2O5 recovery, with negligible deleterious element content. We considered it imperative to proceed immediately with further studies to expand our understanding of concentrate production from Prairie Lake mineralization," said Paul Jones, Nuinsco's chief executive officer. "The new sample has been selected from a large zone of higher-grade mineralization than was represented by previous samples, to determine how feed grade affects process recoveries and concentrate grade. The presence of substantial higher-grade domains at Prairie Lake is an important factor in the project's potential development, as is the low deleterious element content, which has implications for its use as feed for high-purity phosphoric acid production -- acid that is used in applications such as LFP battery manufacturing."

A new representative sample has been delivered to SGS Lakefield, drawn from the updated 2026 higher-grade subset of the mineral resource estimate (MRE): 3.54 million tonnes at 4.59 per cent P2O5 and 2,204 grams per tonne (g/t) TREO indicated, and 53.45 million tonnes at 5.11 per cent P2O5 and 2,355 g/t TREO inferred (see the news release dated Feb. 26, 2026). The new sample has substantially higher grade than the previous sample. The metallurgical program will conduct mineral concentration tests following the conditions and sequences identified as most effective in previous testing, with simplification of the procedures also to be considered.

In parallel with the metallurgical testwork at SGS Lakefield, petrographic and mineralogical studies will be conducted at McGill University under the supervision of Dr. Anthony Williams-Jones. These studies aim to deepen understanding of the REE (rare earth element) distribution in the Prairie Lake complex MRE. Samples from both the concentrates and rejects generated during metallurgical testing will be evaluated to identify their respective REE-bearing mineralogy. A clearer understanding of REE distribution will support more informed decisions on downstream processing.

Studies conducted at Carleton University have shown that phosphate-bearing apatite from Prairie Lake contains very high concentrations of REEs. The apatite averages 13,157 plus or minus 7,063 parts per million (ppm) total REEs (1.54 plus or minus 0.82 weight per cent TREO), placing it at the upper end of the range reported for apatite in carbonatite complexes (0.5 to 1.5 weight per cent TREO) globally. Its REE content is dominated by the light REEs neodymium (Nd), praseodymium (Pr), lanthanum, cerium and samarium, including the high-value permanent-magnet REEs Nd and Pr. Other REE-bearing minerals identified at Prairie Lake include ancylite, carbocernaite and burbankite. The petrographic study under way at McGill University will further clarify their abundance, distribution and opportunity for REE concentrate production.

Prairie Lake is a significant critical minerals asset located in the heart of North America. It hosts a very substantial mineral resource of igneous phosphate mineralization and has among the world's highest known light rare earth element concentrations in apatite; the MRE also contains several other REE-bearing minerals, as well as the niobium mineral, pyrochlore. The target for the next phase of the metallurgical studies is a phosphate concentrate grading significantly higher than 30 per cent P2O5, at higher than 80 per cent process recovery -- together with a valuable, rare earth element co-concentrate.

The elements found at Prairie Lake are essential for applications in transportation, agriculture, power distribution, battery and other green technologies, to name a few. The project is of immense value to a secure critical minerals supply chain and presents substantial regional and national Canadian benefits. The MRE location benefits from proximity to:

• The towns of Marathon, Terrace Bay and local first nations -- all able to supply a local, skilled work force and services;
• All-weather forest access road crossing the project location and deposit;
• Provincial TransCanada highways 17 and 11 to the south and north, respectively;
• Nearby Canadian Pacific Kansas City and Canadian National Railway networks;
• High-capacity (230-kilovolt) electrical power transmission line;
• 50 kilometres (km) from the Marathon deepwater port project. Deep-ater ports are also located at Thunder Bay and Sault Ste. Marie, able to handle ocean going ships;
• The Marathon airport.

Laura Giroux, PGeo, chief geologist of Nuinsco, is a qualified person as defined 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, tantalum) Prairie Lake project near Marathon-Terrace Bay, the Zig Zag Lake property (lithium, tantalum) near Armstrong, currently operated as a joint venture with First Class Metals PLC, and the Paradise Lake gold project in central Newfoundland, and retains a NSR (net smelter return) royalty on the Sunbeam gold property near Atikokan.

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