Nuinsco Identifies Higher-Grade Phosphate and Rare Earth Element Subset at Prairie Lake Project
Toronto — February 26, 2026 — Leads & Copy — Nuinsco Resources Limited (CSE: NWI, FRA: NJX) has announced a new subset of the mineral resource estimate at its Prairie Lake Critical Minerals and Phosphate Project near Terrace Bay, Ontario. The MRE Subset identifies a domain of mineralization with higher phosphate (P2O5) and rare earth element (REE) grades compared with the 2022 MRE.
The presence of this concentrated higher-grade mineralization within the MRE Subset may identify a possible starter pit location that could significantly enhance the development potential of the Project.
Internal economic studies show that phosphate and REEs are key drivers of the Project’s economic viability. Using a 3.5% P2O5 cut-off grade, the pit-constrained MRE Subset includes:
Indicated Mineral Resource: 3.54 million tonnes at 4.59% P2O5 (+24%) and 2,204 g/t TREO (+32%).
Inferred Mineral Resource: 53.45 million tonnes at 5.11% P2O5 (+51%) and 2,355 g/t TREO (+17%).
*(% increase over the 2022 MRE are bracketed)
The MRE Subset is part of the larger 2022 MRE and provides evidence of the presence of high-grade, mineralized domains of substantial size and potential economic importance.
According to Paul Jones, CEO, ongoing work at the Project continues to deliver encouraging results and the more detailed evaluation of the 2022 MRE and the identification of the higher-grade MRE Subset provide valuable insight into opportunities to maximize the Project’s economic potential.
The higher-grade MRE Subset has been delineated using existing drill data and the Company believes there remains significant potential to define additional mineralized material through further work.
Prairie Lake is a significant Critical Minerals asset located in the heart of North America. Metallurgical studies to date demonstrate that a clean phosphate concentrate, grading 26% P2O5 at 76% process recovery with ample room for improvement, and with valuable rare earth element co-concentrate, can be reliably produced from Prairie Lake feed. Metallurgical studies are continuing now, with the aim of further optimizing recoveries and concentrate grade.
The elements found at Prairie Lake are essential for applications in transportation, power distribution, green technologies and agriculture. The Project is of immense value to a secure Critical Minerals supply chain, and presents logistical benefits, including easy access to:
- The Towns of Marathon, Terrace Bay and other affected communities.
- All weather forest access road crossing the project and deposit.
- Paved Highways 17 and 11 to the south and north.
- Canadian Pacific Railway and Canadian National Railway networks.
- High capacity (230kV) electrical power transmission line.
- 50km from the Marathon deep water port project. Deep-water ports are also located at Thunder Bay and Sault Ste. Marie.
- The Marathon airport.
Laura Giroux, P.Geo., Chief Geologist, of Nuinsco and a Qualified Person and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc., is an independent Qualified Person, both QPs as defined under National Instrument 43-101. Ms. Giroux and Mr. Puritch have reviewed and approved the technical content of this news release.
Nuinsco will be attending the Prospectors & Developers Association of Canada (“PDAC”) Convention 2026, and invites current and prospective investors to meet with the Company at Booth 2620 in the Investors Exchange on Sunday March 1 and Monday March 2. The PDAC Convention 2026 will be held at the Metro Toronto Convention Centre, South Building, located at 222 Bremner Blvd., Toronto, Ontario.
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 and retains a NSR royalty on the Sunbeam Gold Property near Atikokan.
*TREO = Total Rare Earth Oxides: neodymium,Nd2O3 ; praseodymium, Pr6O11; scandium, Sc2O3; Cerium, CeO2; lanthanum, La2O3; samarium, Sm2O3; yttrium, Y2O3.
A full description of methodology used to estimate the Prairie Lake Project 2022 Mineral Resource Estimate is contained in the NI 43-101 compliant Technical Report, effective date 31 May 2022 prepared by P&E Mining Consultants Inc. that is filed on SEDAR.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
US$ Metal prices used were $80/Kg Nd2O3, $80/Kg Pr6O11, $1,500/Kg Sc2O3, $50/Kg Nb2O5, $250/t P2O5, $1.35/Kg CeO2, $1.35/Kg La2O3, $3.50/Kg Sm2O3, Nil$/t Ta2O5 and $13.00/kg Y2O3, 0.78 FX all with combined process recoveries and payables of 50%, except P2O5 at 75%.
The constraining pit optimization parameters were C$2.50/t mining cost for all material, C$25/t process cost, C$5/t G&A cost and 45-degree pit slopes with a C$30/t NSR cut-off.
Source: Nuinsco Resources
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