Nuinsco Resources Limited announced it intends to commence a drill program at the Company's Sunbeam Gold Property situated 27km northeast of the town of Atikokan, Ontario and 15km southeast of Agnico Eagle's Hammond Reef gold deposit. Prior to Nuinsco optioning the project in 2017 no exploration had been conducted around the pastproducing Sunbeam gold mine since it closed in 1905. Gold mineralization at the Sunbeam gold mine is hosted by a 30m wide sheared zone of altered, schistose rock occurring within a southweststriking quartz vein/chloritic zone that has been traced from surface to at least 100m vertically. A 1903 mine plan shows an average grade of ~13g/t gold in the historic workings (no qualified person, as defined by NI 43101, has conducted sufficient verification to treat the reported grade as other than an historic grade). To finance the drill program, on December 31, 2019 (the "Issue Date") Nuinsco completed a nonbrokered private placement of 9,950,000 flowthrough units (each, a "Unit") at a subscription price of $0.01 per Unit for aggregate proceeds of $99,500 (the "Offering"). Each Unit consisted of one common share of the Company ("Common Share") issued on a "flowthrough" basis pursuant to the Income Tax Act (Canada) and one warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (nonflowthrough) at an exercise price of $0.05 per share for a period of 36 months from the Issue Date.