Nuinsco Resources Limited provided information reported by the Peninsula Harbour Authority on planned port development at the town of Marathon,
Ontario. The planned improvements will enhance the logistical position and add to the development potential of the Company's Prairie Lake Critical Minerals and Phosphate Project located approximately 50 kilometres northwest of Marathon, Ontario, Canada ("Prairie Lake" or the "Project") and the proposed port facility. Recently the Peninsula Harbour Port Authority, responsible for oversight and development of the Marathon port project, announced that it is advancing the Marathon project ­ the aim of which is to see the re-opening of deep- water port facilities at Marathon. A concept study has been completed that included a site assessment, marine terminal conditions, site access, on-site infrastructure, environmental conditions, dock configuration, and cost estimates. The Board of Directors of the Port Authority will now review the recommendations from the study to
inform a corporate business plan which will make the Port operational. This work is expected to be completed by the end of Third Quarter 2023. The Prairie Lake project is a large, well located resource of critical minerals in North America. It is a potential source of elements needed for applications in transportation, power distribution, green technologies and a host of others including agriculture. It is of immense value to a secure critical minerals supply chain; an issue identified by numerous governments in the recent past and addressed with incentives and programs to encourage development
of the critical minerals sector. The Project is located near the north shore of Lake Superior, putting it in close or easily accessible reach of: The towns of Marathon and Terrace Bay and other smaller villages, able to supply a local workforce. Paved Highways 17 and 11. Canadian Pacific Railway and Canadian National Railway networks. High capacity (230kV) electrical power transmission line. Only 50km from the Marathon deep water port project. Deep-water ports are also located at Thunder Bay and Sault Ste. Marie, able to handle ocean going ships.