Nuinsco options diamond potential at Prairie Lake Property

TORONTO, June 24 /CNW/ - Nuinsco Resources Limited (NWI:TSX) announces
today it has entered into an agreement with Ripple Lake Diamonds Inc. of
Vancouver, B.C. whereby Ripple Lake has acquired an option to explore the
Prairie Lake Property and obtain 100% of the diamond rights to the claim
group.
In order to obtain 100% of the diamond rights to the Prairie Lake claim
group Ripple Lake will, over four years, pay to Nuinsco $117,000 and 250,000
shares of Ripple Lake Minerals and conduct sufficient exploration to provide
assessment credits to maintain the claim group. Nuinsco will also retain a 2%
Net Returns Interest. Ripple Lake Minerals will become the operator of all
diamond exploration on the claim group. Nuinsco retains the right to explore
for all other mineral commodities at Prairie Lake.
The Prairie Lake Carbonatite Complex is located 45km northwest of
Marathon, northwestern Ontario. The circular, alkalic complex, is two
kilometres in diameter and has been the focus of exploration for uranium,
niobium, tantalum, apatite, wollastonite and carbonate (cement). Most recently
Nuinsco conducted an extensive trenching and sampling program on the property
in 2002 and 2003, targeting the tantalum potential.
Nuinsco is an exploration and development company with the very
prospective Diabase Peninsula uranium property in Saskatchewan, advanced
nickel projects in Manitoba and Quebec, gold projects in Ontario and base
metal projects in Ontario and Turkey. 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 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.
%SEDAR: 00001232E