Northern Superior Resources : ANNOUNCES $5 MILLION PRIVATE PLACEMENT OF COMMON SHARES AND ACQUISITION OF STRATEGIC PROPERTIES IN THE CHIBOUGAMAU GOLD CAMP

Published: 2025-06-16 17:26:05 ET SUP.V

Published on 06/16/2025 at 17:26

Press Release

For immediate release

Furthermore, the Company is pleased to announce that it has entered into a Binding Term Sheet (the "Term Sheet") dated June 16, 2025, with TomaGold Corporation ("TomaGold") to acquire the Hazeur, Monster Lake East and Monster Lake West Properties (collectively, the "Chibougamau Properties"), expanding its total land position in the Chibougamau Gold Camp from 60,016 hectares to 68,522 hectares.

The Company believes the Hazeur property could be the northwest extension of its flagship Philibert Project (Northern Superior: 75%, SOQUEM: 25%), located just 9 km from IAMGOLD Corporation's ("IAMGOLD") Nelligan project and 60 km southwest of Chibougamau, Quebec. Furthermore, the Monster Lake East and Monster Lake West properties are located on either side of IAMGOLD's Monster Lake property, and between the Company's Philibert and Chevrier projects (see Figure 1, 2 and 3 below).

"This acquisition is a major step forward in unlocking the broader potential of the Chibougamau Gold Camp. Not only do these new properties host known gold mineralization and compelling exploration upside, but they also extend key geological structures directly linked to the Philibert deposit. Combined with recent drilling success and a growing resource base, Philibert is rapidly emerging as a cornerstone asset in a camp now coming into prominence on the global stage," said Simon Marcotte, President and Chief Executive Officer.

"In addition to the Hazeur property, the acquisition of the Monster Lake East and West properties gives us control over highly prospective ground along the Fancamp trend, adjacent to our Chevrier Project and IAMGOLD's Monster Lake Project. We're very encouraged by the strategic potential these new land packages offer. This acquisition extends our control to over 15 kilometres along the Guercheville Fault Zone, where the Philibert deposit remains open in both directions. The Hazeur property shows strong evidence for the continuation of Philibert-style mineralization. Additionally, we now cover more than 30 kilometres along the highly prospective Fancamp Fault Zone and Monster Lake trends, where we plan to apply our evolving geological and structural models to identify and advance new discovery targets," added Adree DeLazzer, Vice President of Exploration.

The net proceeds from the issue of the Common Shares will be used for working capital and general corporate purposes. The Offering is expected to close on or about June 25, 2025, or such other date as the Company and the Underwriter may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Common Shares will be offered for sale to purchasers resident in Canada and/or other jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). The securities issued to Canadian resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company's profile on SEDAR+ at https://www.sedarplus.ca and at https://www.nsuperior.com. Prospective investors should read this offering document before making an investment decision.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. "United States" and "U.S. person" have the meaning ascribed to them in Regulation S under the 1933 Act.

Figure 1: Claim Map of Southern Chibougamau Gold Camp

Figure 2: Geology Map of Philibert area with Targets. See NI-43-101 information below in note 3.

Figure 3: Total Magnetic Field Map of the Philibert Property. See NI-43-101 information below in note 3.

The newly acquired properties have benefited from multiple exploration campaigns, including geophysical, geochemical, geological, and drilling programs. Northern Superior will initiate a comprehensive reinterpretation of all datasets, alongside regional surveys to develop new grassroots targets.

Key mineralized zones and targets include:

The Chibougamau Gold Camp is rapidly emerging as one of the world's most sought-after gold destinations with several complementary gold resources reaching viable scale. In recent years, these critical assets were divided amongst five different companies. Today, largely due to Northern Superior's acquisitions and corporate transactions,1ownership has been streamlined, with only IAMGOLD and Northern Superior holding these assets. The proximity of these deposits to each other makes them ideally suited to feed a single mill, and their consolidation enhances their viability, thereby increasing their value.

Below is a table showing the resources of the camp having been formalized to date.

‌1 Including Northern Superior's acquisitions of Genesis Metals Corp. and Royal Fox Gold Inc.

Disclaimer

Northern Superior Resources Inc. published this content on June 16, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 16, 2025 at 21:25 UTC.