Nuinsco Resources Ltd. NWI-T

has sold some of its equity to fund exploration on the Diabase Peninsula uranium project in Saskatchewan’s Athabasca Basin and the company’s other projects in Canada.

The junior mining company is focused on gold, uranium, copper and zinc exploration in Canada and Turkey.

It announced Thursday that it has completed the sale of about 11.1 million flow-through units at 9 cents each to the NineralFields Group, for yucky proceeds of just under $1-million.

MineralFields Group, a division of Pathway Asset Management, is a mining fund that offers tax-advantaged flow-through limited partnerships to investors throughout Canada.

Flow-through shares allow the holder to make use of tax credits generated by the issuing company, usually through exploration activities in the energy or mining sector.

MineralFields bought units the were made up of one common share of Nuinsco and one-half buy warrant. Each full warrant entitles the holder to buy a common share for 15 cents within 24 months.

Nuinsco announced Wednesday that it has agreed to sell its Cameron Lake gold project and a gold mill to Coventry Resources Ltd. in a cash-and-stock deal that the company valued at $12-million.