Nuinsco begins exploration at Athabasca Basin uranium property

TORONTO, April 21 /CNW/ - Nuinsco Resources Limited (NWI:TSX) announces
today that it has commenced exploration on the Diabase Peninsula uranium
property located in the Athabasca Basin of northern Saskatchewan. Nuinsco
holds the property under option from Trend Mining Company of Denver, Colorado.
A geophysical crew was mobilized to the property and has now completed a
Transient EM survey on a grid established over the central part of the claim
group. Approximately 68km of grid line has been surveyed using 800m by 600m
loops. The survey was designed to trace and define geophysical conductors
known to underlie the Diabase Peninsula Property at depths of 150-400m beneath
the sediments of the Athabasca Basin. Electromagnetic surveys are used to
identify buried unconformity related uranium mineralization in the Athabasca
Basin - the survey identifies the presence of graphitic units, which provide a
favourable environment for uranium deposits. Results of the survey will be
reported when received by the Company.
Subsequently Nuinsco expects to have the entire property covered by an
airborne EM survey by early summer. The survey will extend geophysical
coverage over favourable structures, such as the Cable Bay Shear Zone, known
to underlie the claim group in a northeast direction. Little work has been
conducted along this structure away from the historic surveys that date from
the 1970s and early 1980s.
The Diabase Peninsula Property currently consists of eight claims
encompassing 21,040ha. Historic work has established the presence of highly
prospective alteration and geophysical signatures underlying the claim group.
The historic geophysical signatures are being targeted by the current survey
in order to define targets for a diamond drilling program contemplated for
later this year.
The Diabase Peninsula Property is located on the western shore of Cree
Lake approximately five kilometres north of the southern boundary of the
Athabasca Basin. The claim group overlies the contact of the Mudjatik and
Virgin River Domains which is occupied by the graphite-bearing Cable Bay Shear
Zone - this structure is considered to be an important locus for uranium
mineralization in this part of the Athabasca Basin. The claim group is known
to encompass hydrothermally altered sandstone boulders and is underlain by
electromagnetic geophysical anomalies indicating the possible presence of
graphitic conductors in the basement. The hydrothermal alteration and the
geophysical anomalies are considered to be diagnostic indicators of potential
uranium mineralization.

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.