Nuinsco Reports 2007 Financial Results, Provides Summary of Activities

TORONTO, ONTARIO, Mar 31 (MARKET WIRE) --
Nuinsco Resources Limited (TSX: NWI)(www.nuinsco.ca) today announced
financial results for the fiscal year ended December 31, 2007. During the
year, the Company achieved the following:

Corporate

- Created Victory Nickel Inc. ("Victory Nickel"), a pure nickel company.

- Obtained TSX listing for Victory Nickel ("symbol Ni").

- Distributed 75% ownership of Victory Nickel to shareholders of Nuinsco.

- Raised gross proceeds of $6.0 million in an oversubscribed "bought
deal" private placement.

- Re-aligned the management team to better reflect the Company's
exploration focus.

- Promoted Paul Jones from Vice-President, Exploration to the position of
President, and appointed Chris Wagg as Manager, Canadian Exploration;
Laird Tomalty as Logistics Coordinator and Field Manager; and Laura
Giroux as Project Geologist and Data Manager.

- Reported net income of $1.1 million, or $0.01 per share.

Uranium

Prairie Lake - Ontario

- Completed surface uranium exploration.

- Completed a second round of surface sampling over the entire Prairie
Lake intrusion.

- Announced positive results from the programs with values in several
interesting mineral elements.

Diabase - Athabasca Basin - Saskatchewan

- Completed two drill programs in early 2007 with positive results.

- Began a $2.5 million diamond drilling program of at least 5,000 metres
in October 2007 to follow up on positive results.

Copper, Gold and Zinc

Elmalaan - Turkey

- Completed the earn-in of a 100% interest, subject to Xstrata's back-in
rights.

- Announced positive results from drill programs.

Berta - Turkey

- Completed drill program.

- Announced a significant continuous domain of strong sulphide
mineralization.

Cameron Lake - Ontario

- Engaged Wardrop Engineering Inc. to complete a closure plan in
preparation for application for a dewatering permit.

Campbell Resources Inc.

- Completed earn-in of a 50% carried interest in the high-grade Corner
Bay copper deposit near Chibougamau, Quebec.

- Development of Corner Bay commenced in May 2007 with production having
started in March, 2008.

- Increased holdings to approximately 11% of Campbell's outstanding
common shares through exercise of 4,000,000 warrants in 2007 and the
acquisition of 600,000 common shares in February, 2008.

"In 2007, we took the first step in our strategy of unlocking value for
shareholders through the creation and distribution to shareholders of
Victory Nickel; we re-aligned our management team to better focus on our
strength in exploration; we advanced our projects in Canada and Turkey
through systematic exploration and we made significant progress through
our investment in Campbell which culminated in early 2008 with the Corner
Bay copper deposit becoming Nuinsco's first production asset," said Rene
Galipeau, Vice-Chairman and CEO. "As we move forward in 2008, we will
continue to identify ways to use our exploration programs and operating
and financial expertise to crystallize value for shareholders."

Financial Performance

For the year ended December 31, 2007, the Company had net income of
$1,058,000, or $0.01 per share, compared with net income of $2,213,000 or
$0.02 per share, in 2006. Although the Company has no income generating
activities other than receiving fees for providing consulting services to
Campbell, various transactions in 2006 and 2007 generated income based on
generally accepted accounting principles which may not be recurring going
forward. The net income in 2007 includes a dilution gain with respect to
the Company's equity-accounted investment in Victory Nickel of $2,071,000
and the net income in 2006 includes aggregate gains on the sale of
marketable securities of $2,567,000; no such marketable security gains
were realized in 2007. Interest income earned in 2007 totaled $581,000,
versus $178,000 in 2006, reflecting the higher level of cash invested in
interest-bearing instruments in 2007. On May 1, 2006 the Company began
providing operating consulting services to Campbell which resulted in
consulting fees totaling $707,000 during 2007, compared with $715,000 in
2006.

General and administrative expenses totaled $1,463,000 in 2007 versus
$2,282,000 in 2006, reflecting overhead recoveries from Victory Nickel
that, in 2007 aggregated $1,272,000. Following the formation of Victory
Nickel on February 1, 2007, the Company shares management, administrative
assistance and facilities with Victory Nickel pursuant to a management
agreement. These overhead recoveries were offset by increases in general
and administrative expenses prior to such recoveries of approximately
$367,000, primarily as a result of increased salary costs reflecting
additional hires and salary increases and the commencement of the cash
payment of Directors' fees in the current period totaling $176,000 (nil
in 2006).

The aggregate share of losses of equity-accounted investees totaled
$868,000. The Company's share of Victory Nickel's loss for the period
from its inception, February 1, 2007, to December 31, 2007 totaled
$520,000. Victory Nickel's loss included stock option compensation of
$1,369,000. The Company commenced accounting for its investment in
Campbell using the equity method effective December 1, 2007. Its share of
Campbell's loss for the one month period in 2007 was $348,000.

The Company recognized income tax recoveries in 2007 of $337,000,
compared with income tax recoveries of $1,854,000 in 2006, representing,
in 2007, the tax benefits realized from the renunciation of Canadian
exploration expenses to investors in flow-through financing. In 2006, the
income tax recoveries comprised $1,076,000 relating to flow-through share
renunciations plus further income tax recoveries of $778,000 resulting
from the utilization of prior year tax losses.

At December 31, 2007, the Company had working capital of $8,165,000,
compared with $21,694,000 at December 31, 2006. In February, 2007,
$12,668,000 was distributed on the formation of Victory Nickel. Given its
current cash position, the Company is sufficiently financed to fund its
anticipated future administration and exploration costs unless a decision
is made to advance one or more of its projects to production.

Full financial statements and management's discussion and analysis will
be posted on the Company's website and at www.sedar.com.

Outlook

2007 was a significant year for Nuinsco, with the Company not only
actively exploring its uranium, copper, gold and zinc prospects in Canada
and Turkey, but successfully achieving its goal of creating, financing
and building its first pure-play spinoff company, Victory Nickel.

In 2008, the Company will continue to aggressively explore its existing
projects, while identifying and evaluating additional assets to expand
its exploration portfolio.

In an environment where strong metal pricing continues to prevail due to
increasing global commodities demand, access to equipment and to people
remains an industry-wide issue. This reality hampered Nuinsco's ability
to secure drills and drillers in order to begin its program at the
Diabase Peninsula uranium property in the Athabasca Basin during 2007.
However, as 2008 began, a 5,000-6,000 metre drill program was underway at
Diabase to follow up on past drilling and surface exploration successes.

In 2008, the Company will also continue to advance its Turkish properties
through diamond drilling and additional exploration. Nuinsco considers
Turkey a very favourable environment with geology that offers the
potential for significant mineral discoveries, and is evaluating the
potential to add to its property position in Turkey as well as in the
surrounding region.

Nuinsco is focused on identifying mineral investment opportunities
worldwide using its exploration programs and operating and financial
expertise to crystallize value for its shareholders. In addition to its
exploration assets, the Company holds significant equity interests in
Victory Nickel and in copper and gold producer Campbell, as noted above.

Nuinsco remained involved with Campbell during 2007, both operationally
and by expanding its equity position. The Company's arrangement with
Campbell offers exciting prospects for the future, both in terms of
enhanced production from existing assets (the Copper Rand Mine, Merrill
Island Pit and Corner Bay copper deposit (Nuinsco has a 50% carried
interest in Corner Bay) and via new opportunities in the prolific mining
camp of Chibougamau, Quebec.

Campbell announced in early 2008 that development in ore had begun at
Corner Bay, as had shipments to the Copper Rand Mill. This milestone
makes Corner Bay Nuinsco's first production asset, and is expected to
begin generating cash flow to the Company's account in 2009.

Nickel prices continued to set records in 2007. While prices pulled back
somewhat from record levels, indications are that the robust nickel
market will continue due to strong demand in China, India and other
growing international markets. The creation of Victory Nickel resulted in
an immediate benefit to shareholders, and Nuinsco's equity interest
continues to provide shareholders with leverage to a strong nickel price
as the need for nickel concentrates continues to grow.

The formation of Victory Nickel was the first step in Nuinsco's strategy
to unlock the value of its assets through the creation of pure-play
companies. Nuinsco continues to own a wealth of assets in a variety of
metals, and management intends to further this strategy by using its
other assets to unlock value for shareholders as we move through 2008 and
beyond.

About Nuinsco Resources

Nuinsco is focused on identifying mineral investment opportunities
worldwide using its exploration programs and operating and financial
expertise to crystallize value for its shareholders. In addition to its
property holdings in Canada and Turkey, Nuinsco owns approximately 22% of
the outstanding common shares of Victory Nickel Inc. (TSX: NI) and
approximately 11% of the outstanding common shares of gold and copper
producer Campbell Resources Inc. (TSX: CCH). Shares of Nuinsco trade on
the Toronto Stock Exchange under the symbol NWI. The Prairie Lake resource
estimate quoted herein is based on prior data and reports obtained and
prepared by previous operators and the Company. The Company has not
completed the work necessary to verify the classification of the mineral
resource estimates. The Company is not treating the mineral resource
estimates as NI 43-101 defined resources verified by a qualified person.
The historical estimates should not be relied upon. These properties
require considerable further evaluation which Nuinsco's management and
consultants intend to carry out in due course.

FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements." All statements, other than statements of
historical 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.

Contacts:
Nuinsco Resources Limited
Rene Galipeau
(416) 626-0470

Nuinsco Resources Limited
Paul Jones
(416) 626-0470

Nuinsco Resources Limited
Sean Stokes
(416) 626-0470
Email: admin@nuinsco.ca
Website: www.nuinsco.ca

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