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Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: harry-the-original who wrote (5690)	5/2/2000 12:50:00 PM
From: Barry Cox	Read Replies (1) \| Respond to of 5821

for anyone interested, I just picked this up from a source NUINSCO AND NOVAWEST/GOLDEYE ENTER JOINT VENTURE AGREEMENT TO POOL 1,200 CLAIMS WEST OF LAC ROCHER Toronto, May 1 -- Nuinsco Resources Limited and NovaWest Resources Inc. with its partner Goldeye Exploration Limited announced today that they have pooled respective property interests and entered a 50/50 joint venture agreement on 1,200 claims totalling 47,450 acres, located west of Nuinsco?s 1999 Lac Rocher, Quebec, Ni-Cu Discovery. This pooling of interest does not involve Nuinsco?s main discovery property at Lac Rocher. Since Nuinsco?s nickel discovery last year that intersected 10.8% nickel over 10.6 feet, the three companies have focused their efforts in two areas west of Lac Rocher on younger mafic/ultramafics at Lac Ouagama and Lac Salamandre. The companies believe that the intrusive rocks on these properties are similar to the host rocks of the nickel-copper discovery at Lac Rocher. The large-phase layered complex contained at Lac Ouagama includes a previously known sulphide showing, while the linear, feeder-like body of olivine-bearing peridotite/pyroxenite intrusive rocks occupy the west northwest-trending Lac Salamandre lineament. Rock samples from the Lac Salamandre area have been analysed and resemble the important host pyroxenites in the Nuinsco discovery intrusion. George Archibald, Vice President of Exploration for Nuinsco Resources, and Frank P. Puskas, Director of NovaWest Resources and President of Goldeye Exploration, will head the exploration management committee. Nuinsco will manage the multi-phase exploration program under the direction of this committee beginning immediately with an airborne geophysical survey. Nuinsco is an exploration company with projects in northwestern Ontario (Rainy River and Confederation Lake), northwestern Quebec (Lac Rocher), and Manitoba (Mel Property, Minago and Bucko Lake). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI. U.S. S.E.C. exemption: 12g3-2(b)#82- 1846. NovaWest and Goldeye are Canadian Exploration companies trading respectively on the CDNX as ?NVE? and CDN as ?GEYE?. -30- FOR FURTHER INFORMATION PLEASE CONTACT: H. Douglas Hume, Chairman & CEO, or George Archibald, VP Exploration (416) 626-0470 Nuinsco Resources Limited Cathy Hume or Olav Svela, Investor Relations (416) 868-1079 Hume, Kieran Inc.