Nuinsco finalizes concession agreement in Egypt

Sept. 9, 2010 - PRLog -- Nuinsco finalizes concession agreement in Egypt
2010-09-09 11:40 ET - News Release

Mr. Paul Jones reports

NUINSCO FINALIZES AGREEMENT ON EGYPTIAN GOLD CONCESSION

Nuinsco Resources Ltd. has finalized, through its Egyptian subsidiary Z-Gold Resources Limited, a concession agreement with the Egyptian Mineral Resources Authority (EMRA) covering the Bukari gold concession area located in the Eastern Desert of Egypt.

"Finalizing this agreement with EMRA is a major step toward gaining tenure at Bukari," said Paul Jones, president. "Having a signed concession agreement enables Nuinsco to begin a gold exploration program, which is expected to commence with initial fieldwork this fall in a region that has historically produced millions of ounces of gold, and where millions more are now in production."

The concession agreement, which incorporates a production-sharing agreement and exempts the company from payment of all taxes, will now be reviewed by the Egyptian State Council before being passed into law by the Egyptian Parliament followed by grant of tenure. The entire process is expected to be finalized over the next several months.

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