Nuinsco completes financing

TORONTO, April 22 /CNW/ - Nuinsco Resources Limited (TSX: NWI) announced
today that it has raised additional aggregate proceeds of $395,428 by way of
private placement (as previously disclosed in Nuinsco's press release dated
April 5, 2005).
The private placement consisted of the sale of Units and Flow-Through
Units, priced at $0.22 and $0.26 each, respectively (the "Offering"). The
Units consist of one common share of the Company and one common share purchase
warrant (each, a "Unit Warrant"). Each Unit Warrant entitles the holder to
purchase one common share of the Company at a price of $0.40 per share until
April 4, 2007.
The Flow-Through Units consist of one "flow-through" common share of the
Company and one "flow-through" common share purchase warrant (each, a "Flow-
Through Warrant"). Each Flow-Through Warrant entitles the holder to purchase
one "flow-through" common share of the Company until December 31, 2005.
McFarlane Gordon Inc. acted as agent in the Offering and received an
aggregate of 156,280 warrants, each warrant entitling the holder to purchase
one Unit at a price of $0.26 until April 4, 2007.
Nuinsco will use the funds raised from the private placement to finance
exploration work and for working capital purposes.
Nuinsco is an exploration and development company with nickel projects in
Manitoba, Ontario and Quebec, gold projects in Ontario and base metal projects
in Ontario and Turkey and a uranium project in Saskatchewan. Shares of Nuinsco
trade on the Toronto Stock Exchange under the symbol NWI. U.S.S.E.C.
exemption: 12g3-2(b) No. 82-1846. The website address is www.nuinsco.ca.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding future plans and objectives, 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.