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Nuinsco Announces First Results from Drilling on Chibougamau Gold Properties

Nuinsco Resources Limited (NWI.TO) today announced positive results from the first three drill holes of an 18-hole diamond drilling program conducted in November on CBay Minerals Inc.'s Portage Island gold occurrences in the Chibougamau mining camp in northern Quebec.

Near-surface (less than 30 metres) assays from the McKenzie Vein include 8.62 metres grading 2.31 g/t gold and 3.48 metres grading 5.45 g/t gold, with values peaking at 23.4g/t gold.

The 18-hole, 1,700m drilling program tested a number of gold targets, including a portion of the McKenzie Vein above where it was mined as part of the Portage Mine and new targets acquired from an induced polarization geophysical survey that was also completed this autumn. The Portage Mine was in production between 1959 and 1997. All remaining assays are expected early in the new year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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