Nuinsco Provides Update on Status of Bukari Concession in Egypt

"Nuinsco has been engaged in regular meetings with senior Egyptian political officials and with representatives from the Egyptian Mineral Resources Authority (EMRA) with respect to advancing the Bukari concession agreement through its final stage. The Company is receiving support in its efforts from the Canadian Embassy in Cairo and from the Egyptian Ambassador to Canada, and is also communicating with other groups seeking to finalize concession agreements in Egypt," said President Paul Jones.

While the Company has not yet received confirmation, the following recent report from Intellinews MENA Today, entitled "Egypt Plans to sign Three Agreements for Gold Exploration in Eastern Desert" stated as follows: "Egypt's General Authority for Mineral Resources has asked the ruling Supreme Council of Armed Forces for approval on signing three agreements for gold exploration in the country's Eastern Desert, Arab Finance business portal reported. Three companies from Egypt, Russia and Canada showed interest in gold exploration in the areas of Bokhariya (Bukari), Brameyah and Al Shazly, Abd Al Aal Hassan, deputy chairman of the authority, said. The agreements envisage total investment of at least USD 54mn in the exploration phase."