Toronto – TheNewswire - May 19, 2026 – Nuinsco Resources Limited (“Nuinsco” or the “Company”) (CSE: NWI, FRA: NJX) today announced it has begun field exploration at the Paradise Lake gold project (“Paradise Lake” or the “Project”) in central Newfoundland.

 

“As previously reported in our news release of May 6, 2026, the Company’s review of historic work and results has produced very compelling indications of an extensive mineralizing event having affected the rocks underlying the Project, which we believe has excellent potential for exploration success,” said Paul Jones, Nuinsco’s CEO. “A field crew will be on-site within the next week to evaluate the approximately 10 km of known gold-anomalous trend encompassed by the Project claims.”

 

Initial field work will build upon historic exploration results to develop drill targets as quickly as practical, and will consist of geological mapping, sampling, a drone magnetic survey and a ground induced polarization survey. A trenching program is contemplated for summer to expand on the minimal natural outcrop available.

  

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As illustrated on the accompanying map, widespread significantly anomalous gold geochemistry extends for approximately 10 km across much of this underexplored claim group. This indicates a mineralizing event of sufficient magnitude to have affected a large volume of rock. Samples were obtained from limited available outcrop (estimated to comprise approximately 1% of the Project area) and from angular rock fragments (float), consisting predominantly of quartz veining and quartz-breccia, with subordinate altered host rock. Even with limited surface exposure, an extensive and attractive geochemical target domain is evident. Sample analyses peak at 144.7 g/t gold (obtained from a float sample), with numerous, very anomalous, samples exceeding 100 ppb gold (from outcrop and float). This anomalous corridor coincides with regionally extensive deformation associated with the demonstrably productive central Newfoundland gold belt, which hosts several deposits and numerous sites of significant mineralization.

 

Located within the prolifically mineralized Central Newfoundland gold district, the Project is underlain by the same structures associated with much of the gold mineralization in central Newfoundland, including Equinox Gold’s Valentine Lake gold deposit, Newfoundgold’s Queensway gold deposit and the Moosehead exploration property operated by Pirate Gold. The Project consists of 132 mineral exploration claims in two separate blocks: the 108 claim Paradise Lake block, and the 24 claim Pistol Lake block. Historically, widespread and anomalous gold mineralization has been identified across the Project area. The Project is approximately 27 km south of Grand Falls–Windsor, directly accessible via local roads and tracks. Located on the Dunnage Zone litho-tectonic domain of Central Newfoundland the mineralization at the Project is interpreted to be related to the Cape Ray–Valentine Lake structural zone and the Victoria Lake Fault Zone.

Laura Giroux, P.Geo., 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.

 

Reference to surface sampling from: Aurwest Resources Corporation 2nd to 8th year (2022) Assessment Report On: Diamond drilling, Prospecting and Mapping Paradise Lake Gold Project. 20 Dec, 2022).

 

 About Nuinsco Resources Limited

Nuinsco Resources has over 50 years of exploration suc­cess and is a growth-oriented, multi-commodity mineral explora­tion and development company focused on prospective oppor­tunities in Canada and internationally. Currently the Company has the large multi-commodity (phosphate, rare earth element, niobi­um, tantalum) Prairie Lake Project near Marathon-Terrace Bay, the Zig Zag Lake Property (lithium, tantalum) near Armstrong optioned to First Class Metals PLC, the Paradise Lake gold project in central Newfoundland and retains a NSR royalty on the Sunbeam Gold Property near Atikokan.   

 

Forward-Looking Statements

The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: planned field exploration and evaluation and the development of drill targets.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Company’s mineral projects; the ability of the Company to obtain required approvals; geological and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about the Company’s business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

  

Paul Jones, CEO	Sean Stokes, Executive VP	Cathy Hume, Consultant	Instagram @nuinscoresources
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