Nuinsco and Temex Report Uranium Exploration Results, Diamond Drilling Underway

TORONTO, ONTARIO, Dec 08, 2008 (MARKET WIRE via COMTEX News Network) --

Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX: NWI) (www.nuinsco.ca) and partner Temex Resources Corp. (TSX VENTURE: TME)(FRANKFURT: TQ1) ("Temex") today announced positive results from the fall surface exploration program conducted on the Marijane Lake and Huston Lake Uranium Properties (the "Claims"). Drill testing of select anomalies is now underway.

Highlights

- 72 samples out of a total of 336 samples collected returned greater than 200 ppm uranium ("U") and 31 of those returned greater than 500 ppm U;

of 12 samples reporting greater than 1,000 ppm U, the highest were 2,140 ppm, 2,900 ppm and 3,240 ppm U.

- Discrete areas anomalous in uranium range up to 0.5 km by 1.5 km within anomalous trends up to 4.0 km in length.

- 10-hole diamond drill program underway.

Commented Ian Campbell, President and CEO of Temex: "We are very encouraged by the results of the fall program conducted to follow-up on the numerous airborne radiometric anomalies. The analytical results of this program are up to three times as high as those from reconnaissance prospecting conducted in 2007 and we have identified several targets for immediate drill testing."

"These are excellent preliminary results from an exciting project with the potential to host a large, bulk tonnage uranium resource," added Nuinsco President Paul Jones.

The fall surface exploration program, completed in October and November, included detailed geological evaluation and prospecting of radiometric anomalies identified from the May, 2008 airborne radiometric survey. Airborne radiometric anomalies are located within and around the western margins of the 30 km by 10 km east-west trending Marijane Lake Batholith, a granite similar in mineral composition to that which hosts the large tonnage, low grade Rossing Uranium Mine in Namibia. Typical reserve and resource grades at Rossing, which produces approximately 8% of the world's uranium according to majority owner Rio Tinto, are less than 0.05% U.

In the Marijane Lake area, scintillometer readings measured on the ground ranged from several hundred counts per second ("cps") to 5,000 cps. Anomalous uranium mineralization exceeding 200 ppm U in granitic and pegmatitic granite outcrops occurs over areas of up to 0.5 km by 1.5 km with individual grab samples reporting as high as 1,360 ppm, 1,450 ppm and 1,890 ppm U. On another area of the claims located approximately 10 km to the northeast, grab samples returned as high as 2,140 ppm, 2,900 ppm and 3,240 ppm U.

Outcrops in both areas often exhibit yellow staining which is indicative of secondary uranium-bearing minerals. During the course of the program scintillometer counts were measured at 900 separate sites, while 336 grab samples have been analyzed by ICP multi-element methods with re-analyses of samples reporting over 500 ppm U (see Note 1) pending.

The Claims are located in northwestern Ontario and in eastern Manitoba 75 km east of Lac du Bonnet, and were staked in spring 2007 to cover a large and locally intense airborne radiometric anomaly detected by government surveys. Paul Jones, P. Geo., is the designated qualified person responsible for the preparation of this news release.

Note 1. Loring Laboratories procedure for uranium analysis: Sample preparation includes crushing, grinding and pulverizing of a representative sample to -150 mesh. The geochemical analysis procedure for preliminary detection of low levels of uranium employs a hydrochloric acid digestion of a 0.5 gram sample, followed by dilution to 10 ml. The solution is analyzed fluorometrically, with a 0.1 ppm detection limit for uranium; results are reported as ppm for uranium. The flourometric assay procedure used for the analysis of ore grade material employs a total digestion of the sample using a HNO3-HCl-HF-H2SO4 multi-acid digestion of a 1.0 gram sample, with a 0.001% U3O8 detection limit; results are reported as percent U3O8.

About Nuinsco Resources

Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is focused on uranium, copper, zinc and gold exploration and development in world-class mineralized belts in Canada and Turkey. In addition to its property holdings, Nuinsco owns approximately 15% of the outstanding common shares of Victory Nickel Inc. (TSX: NI), approximately 13% of the outstanding common shares of precious and base metals producer Gold Hawk Resources Inc. (TSX VENTURE: CGK) and a 50% interest in future cash flows from the Corner Bay copper project owned by Campbell Resources Ltd. (TSX: CCH). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.

For further information, please visit our website at www.nuinsco.ca.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historical fact, that address activities, events or developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Nuinsco to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Nuinsco. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from government authorities, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Nuinsco disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Nuinsco believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Contacts:
Nuinsco Resources Limited
Rene Galipeau
(416) 626-0470

Nuinsco Resources Limited
Paul Jones
(416) 626-0470

Nuinsco Resources Limited
Sean Stokes
(416) 626-0470
Email: [email protected]
Website: www.nuinsco.ca

SOURCE: Nuinsco Resources Limited

mailto:[email protected] http://www.nuinsco.ca

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