Geophysical survey identifies strong anomalies at Nuinsco's Muriel Lake Property

TORONTO, May 3 /CNW/ - Nuinsco Resources Limited (NWI:TSE) announces
today that a geophysical survey conducted on it's Muriel Lake Property in
north-western Ontario has identified two strong east-west striking conductive
trends interpreted to be of probable metallic bedrock origin.
LaMontagne Geophysics Ltd. collected a total of 30.5 km of UTEM
electromagnetic geophysical data on 18 grid lines over the central part of the
claim group. A strong, continuous, geophysical anomaly located north of the
grid baseline extends for 1300m and appears to be on strike with known bedrock
base metal occurrences. The anomaly is believed to be coincident with an
airborne anomaly identified by Texasgulf in the 1970s. South of the baseline,
a weaker, discontinuous UTEM anomaly occurs over 800m of strike along strike
from the J.J.Perry, Kindle, Galena Vein, Galena Vein Extension occurrences.
Other unnamed sulphide occurrences occur nearby.
Nuinsco will conduct mapping and prospecting over the property as soon as
ground conditions permit in order to ascertain the best method of assessing
the geophysical anomalies. Additional geophysical surveys are also
contemplated to the east and west of the existing survey. Given the abundance
of base metal mineralisation locally, the possibility of obtaining more
sulphide mineralisation as a causative source for the geophysical anomalies is
considered to be high.
The property was vended to Nuinsco by N.C.Carter and R.T.Heard.
Prospecting in the region dating to the late 1920s has identified numerous  
Cu-Zn-Au-Ag base metal showings. Several massive and stringer sulphide
showings, composed of pyrite-pyrrhotite with variable amounts of chalcopyrite
and sphalerite, occur on the property in association with strong rusty
oxidation and geochemical alteration often at the contact between mafic and
felsic metavolcanic rocks. Historic sampling from showings on the property
have produced a wide range of anomalous values that peak at 16.22% Cu from the
J.J.Perry showing and 5.8% Zn from the Galena Vein showing. Diamond drilling
was conducted around the J.J.Perry and Galena Vein occurrences in the 1950s
but assays are not reported.
Located approximately 75 linear km north of Geraldton, the claim group is
readily accessed by paved road to Nakina and an all-weather, gravel access
road thereafter. The Muriel Lake Project consists of 7 claims, 51 claim units,
nominally encompassing 825.5ha.
In closing, the management and board of Nuinsco would also like to
correct any misconceptions regarding the recent changes in overall management
structure. Mr Robertson's appointment to the position of President, in no way,
should imply that the role of W. Warren Holmes, as CEO and Director, is in any
way diminished. Mr. Holmes aggressive involvement in the Company is as before
and Mr. Holmes is fully dedicated to a long-term and active involvement in the
development of Nuinsco as a multi-commodity based resource company.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding future plans and objectives of are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate; actual results and future events could
differ materially from those anticipated in such statements.
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