News Releases

INTERSECTIONS INCLUDE 205.80 G AU/T OVER 1.20 METRES, 298.00 G AU/T OVER 0.60 METRES, 12.20 G AU/T OVER 6.60 METRES AND 14.50 G AU/T OVER 3.70 METRES

TORONTO, March 15, 2018Superior Gold Inc. ("Superior Gold" or the "Company") (TSX.V:SGI) is pleased to announce additional results from the ongoing underground diamond drill program at its 100%-owned Plutonic Gold Mine in Western Australia. The drilling was conducted from December 1, 2017 to January 31 2018 and is part of the year-round ongoing program of underground drilling.

Results are provided for 149 drill holes for a total of approximately 10,000 metres. The drill holes were completed for resource definition and grade control purposes. Resource definition was designed to increase the confidence level of the resource in areas where drilling was limited as part of the ongoing work to upgrade resources to reserves. Grade control drilling was completed to provide additional information for stope design ahead of mining.

The drilling focussed on seven zones – Area 134; Baltic; Caribbean; Caspian; Cortez; Indian; and Pacific. A number of significant intersections were encountered. 

KEY FINDINGS

  • 187 intersections encountered more than 5g Au/t
     
  • 103 intersections encountered more than 10g Au/t
     
  • 30 intersections encountered more than 20g Au/t
     
  • 7 intersections encountered more than 50g Au/t

The location of the most significant intersections are shown in Figure 1 and the details of all holes are summarized by zone in Table 2. Reported intersections are over a minimum downhole width of 0.30 metres (0.20 metres true width).

Chris Bradbrook, President and CEO of Superior Gold stated: "As with our previously released underground drill results, these latest results continue to demonstrate the strength of the mineralized system at the Plutonic Gold Mine. We continue to work towards increasing the confidence level in the resources in order to achieve one of our principal goals, which is to grow the level of underground reserves and to extend the mine life. The Company is currently working on completing a reserve and resource update, which we  expect to release in the second quarter of 2018."

HIGHLIGHTS

The most significant intersections are summarized in Table 1 below:

Table 1 – Key Intersections

Designed
Target

Drill Hole
#

Easting
(Mine
Grid)

Northing
(Mine
Grid)

Drill hole
collar RL
(Mine
Grid)

Dip
(degrees)

Azimuth
(degrees,
Mine
Grid)

End of
hole
depth
 (m)

Downhole
From
(m)

Downhole
To
(m)

Downhole
Intersection
(m)

Au
(gpt)
uncut

Est True
Thickness
(m)

AREA 134

UDD19996

4569

12676

1030

-88

80

45

31.80

33.70

1.90

13.2

1.3

 

UDD19997

4569

12677

1030

-63

75

40

29.15

31.20

2.05

10.1

1.4

 

UDD20002

4568

12679

1031

-29

82

51

9.10

10.10

1.00

17.8

0.7

BALTIC

UDD19980

4089

11759

968

84

359

28

0.00

0.40

0.40

27.3

0.3

 

UDD19989

4391

11607

1085

21

360

56

37.50

38.00

0.50

23.4

0.4

 

UDD19992

4384

11613

1084

10

1

51

33.90

34.20

0.30

70.4

0.2

CARIBBEAN

UDD19927

4551

11846

1092

-16

200

153

124.11

125.00

0.89

24.9

0.6

 

UDD19930

4572

11841

1089

-29

155

79

6.50

7.30

0.80

21.9

0.6

        

22.90

23.50

0.60

26.0

0.4

        

48.30

48.90

0.60

23.1

0.4

 

UDD19969

4545

11867

1094

-58

279

29

11.30

12.50

1.20

205.8

0.8

CASPIAN

UDD19952

4291

10860

1335

33

228

44

27.10

27.95

0.85

41.7

0.6

 

UDD19956

4306

10847

1333

29

228

61

14.90

18.50

3.60

11.4

2.5

 

UDD19958

4313

10840

1333

39

228

93

50.00

53.70

3.70

14.5

2.6

 

UDD19961

4321

10834

1333

38

228

98

0.00

1.30

1.30

17.0

0.9

        

2.40

3.80

1.40

17.2

1.0

        

59.70

61.00

1.30

15.4

0.9

 

UDD19963

4328

10827

1332

38

228

101

87.80

88.80

1.00

18.4

0.7

CORTEZ

UDD19901

5057

12363

1173

31

105

105

72.10

72.80

0.70

55.5

0.5

 

UDD19903

5053

12350

1173

38

122

83

64.35

64.90

0.55

46.0

0.4

 

UDD19905

5052

12348

1173

36

161

50

35.50

42.10

6.60

12.2

4.6

      

Including

38.05

40.75

2.70

10.1

1.9

      

And

41.10

42.10

1.00

44.8

0.7

 

UDD19913

5034

12342

1171

1

164

39

1.00

7.65

6.65

10.1

4.7

 

UDD19914

5035

12342

1170

-44

164

45

16.30

16.70

0.40

58.7

0.3

 

UDD19917

5025

12338

1169

-77

164

45

9.10

9.65

0.55

60.4

0.4

 

UDD19919

5018

12341

1170

-13

341

84

0.00

1.60

1.60

10.0

1.1

 

UDD20014

4931

12198

1176

24

300

79

35.50

36.35

0.85

18.8

0.6

INDIAN

UDD19593

4211

11000

1398

24

216

91

63.60

67.10

3.50

7.6

2.5

 

UDD19813

3975

11449

1136

-41

225

228

190.20

191.00

0.80

24.7

0.6

 

UDD19882

4370

11391

1170

-34

138

13

0.00

0.60

0.60

298.0

0.4

 

UDD19883

4371

11391

1170

-9

138

16

10.50

11.25

0.75

38.2

0.5

 

UDD19885

4370

11391

1170

-63

138

18

13.20

17.50

4.30

7.3

3.0

 

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by Pascal Blampain, who is a member of the AusIMM and the Australian Institute of Geoscientists (AIG) and a "qualified person" within the meaning of NI 43-101. Mr. Blampain is an employee of the Company and serves as Chief Geologist.

Quality Control Protocols

Core is drilled BTW core diameter (42 mm).  Core intervals are whole core sampled.  All gold results were determined by ALS Minerals (Perth) using fire assay fusion (40g charge, lead collection method) with an ICP finish.  Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industy best practices.  Standards, blanks and duplicates are included in approximately every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the laboratory.  Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

About Superior Gold

Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold Operations located in Western Australia. The Plutonic Gold Operations include the Plutonic Gold Mine, which is a producing underground operation with a central mill, the Hermes open pit development project and an interest in the Bryah Basin joint venture.  Superior Gold is focused on expanding production at the Plutonic Gold Operations and building an intermediate gold producer with superior returns for shareholders.

For further information, please contact:

Superior Gold Inc.
Chris Bradbrook, President, CEO & Director
investor@superior-gold.com
Tel: 416-716-8235

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's prospectus dated February 15, 2017 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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