Building …on a Proven Track Record
2
NWI
:
TSX
Nuinsco Resources Limited
at a
Building …on a Proven Track Record
2013
Objectives
•
Continue exploration at the Diabase
Peninsula uranium project.
•
Continue process testing at the Prairie
Lake project and evaluate production
of marketable concentrates.
•
Continue to evaluate new project
opportunities in Canada and
elsewhere.
•
Complete additional exploration
and diamond drilling programs on
CBay’s Chibougamau copper/gold
properties.
•
Continue to evaluate the most
appropriate structure for CBay that
will maximize value for shareholders.
Strategic Investments
Nuinsco maintains equity investments that
can be monetized to generate cash to
finance operations and exploration.
Currently these holdings are:
Company
Percentage Equity
Ownership
CBay Minerals
50%
(
Private)
Coventry Resources
2%
(
ASX, TSX-V:CYY)
Victory Nickel
3%
(
TSX: Ni)
Significant Events
2012-2013
Corporate
•
Postponed the NuMENA Minerals Corp. spinoff initiative indefinitely due to political uncertainty in the
MENA region.
•
Completed a flow-through financing raising gross proceeds of $1,000,000, which is primarily slated
for exploration of CBay’s projects in and near Chibougamau, Quebec.
•
Appointed Roland Horst as CEO of CBay to lead the restructuring and exploitation of the Chibougamau
mining assets.
•
Entered into a management agreement with CBay.
•
Sold the Cameron Gold project royalty for US$5,100,000.
•
Sold the Eastmain royalty through CBay for $900,000.
•
Signed a loan facility of $2,500,000.
•
Entered into a loan agreement with a Victory Nickel Inc. (“Victory Nickel”) to advance up to $3 million.
The loan is secured by Victory Nickel’s assets and the bulk of the funds are to be used to finance capital
expenditures on its frac sand processing facility in Medicine Hat, Alberta. The loan bears interest at
12%
per annum and is convertible at Nuinsco’s option into a limited participating interest in cash flow
from Victory Nickel’s frac sand business.
Copper/Gold
•
Advised the Egyptian Mineral Resources Agency that the Company would not continue to
pursue tenure of two concessions in Egypt.
•
Elected not to exercise option on the J. Tobrar gold concession in northeastern Sudan.
•
Announced positive drill results including multiple intercepts grading greater than 20.0g/t gold, with the
highest grade core-length intercept – 93.20g/t gold over 0.25 metres – coming from a newly-identified
geophysical target, on CBay’s Chibougamau Portage Island properties.
•
Followed up the very encouraging drill results noted above with ground geophysics on CBay’s Portage
Island properties.
•
Elected to surrender interest in the Elmalaan copper/zinc project in Turkey.
•
Completed 2012 drill program at Berta in Turkey operated by joint venture partner Xstrata Copper
Canada (“Xstrata”).
•
Announced drill results with intercepts up to 12.65m grading 1.59% copper that further indicate large
scale of copper mineralization at the Berta property in Turkey.
•
Announced the optioning of the advanced-stage Perch River copper project in the Chibougamau mining
camp in Northern Québec through CBay.
•
Announced the acquisition by CBay of the high-grade Devlin copper project located near CBay’s
high-grade Corner Bay copper project.
Uranium, Phosphorus and Rare Metals
•
Repurchased the 2% royalty interest on Prairie Lake for $300,000 of Nuinsco shares making the
property royalty-free.
•
Conducted a 1,500 metre drilling program at Diabase Peninsula targeting uranium mineralization
indicated by strong uranium anomalies and deposit indicators from past work.
•
Diluted Trend Mining Company of Denver (“Trend”) to a royalty interest in Diabase Peninsula with the
2012
drill program; subsequently purchased Trend’s royalty interest.
•
Advanced metallurgical studies at Prairie Lake; results demonstrate the ability to produce a marketable
phosphate concentrate grade.
•
Announced the extension of the Diabase Peninsula uranium project agreement and option payment for
one year with additional extension available.
•
Announced drill results from the Diabase Peninsula uranium project which provide further support for
the potential of a significant mineral occurrence.
•
Announced the production of additional phosphorus concentrate from Prairie Lake for evaluation
of agricultural and industrial applications.
•
Commenced a radon gas survey on the Diabase Peninsula property to follow up on drill results showing
widespread anomalous uranium mineralization peaking at 707ppm. Radon surveys were instrumental
in the recent discovery of high-grade uranium mineralization on the Patterson Lake South JV in the
southwestern part of the Athabasca Basin.