TORONTO, ONTARIO, Aug. 13, 2010 (Marketwire) -- Nuinsco Resources Limited ("Nuinsco" or "the Company") (TSX:NWI) (www.nuinsco.ca) is pleased to announce the appointment of Mr. Marvin Singer and Mr. Ed Guimaraes as Directors of the Company.
During the last 25 years Mr. Singer, a partner with Macleod Dixon LLP, has worked with both international and domestic firms on all aspects of resource projects - from acquisition through to debt and equity financings and project development and completion. In addition to his legal expertise, Mr. Singer brings to the Board extensive expertise related to corporate and business matters.
Mr. Guimaraes is a Chartered Accountant who held progressive management positions with Aur Resources Inc. ("Aur") between 1995 and 2007, ultimately serving as Executive Vice-President, Finance and Chief Financial Officer until the completion of the acquisition of Aur by Teck Resources Ltd. in August, 2007 for $4.1 billion. Prior to joining Aur, Mr. Guimaraes worked with PricewaterhouseCoopers LLP.
"Marvin and Ed have two distinct and very valuable skill sets that will serve the Company well as we continue to advance our existing projects in Canada and Turkey, and diversify into new regions such as Egypt," said Chairman Bob Wardell.
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, Turkey and Egypt. In addition to its property holdings, Nuinsco owns approximately 9% of the outstanding common shares of Gold Hawk Resources Inc. (TSX VENTURE:GHK), approximately 9% of the outstanding common shares of Coventry Resources Limited (ASX:CVY) and approximately 2% of the outstanding common shares of Victory Nickel Inc. (TSX:NI). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
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FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historic 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.
Rene Galipeau or Sean Stokes
Nuinsco Resources Inc.
CHF Investor Relations
CHF Investor Relations