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INTERSECTIONS INCLUDE 89.4 G AU/T OVER 4.55 METRES, 29.0 G AU/T OVER 3.20 METRES, 12.3 G AU/T OVER 5.65 METRES, AND 33.7 G AU/T OVER 2.00 METRES

TORONTO, July 30, 2018Superior Gold Inc. ("Superior Gold" or the "Company") (TSXV: 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 March 1, 2018 to April 30, 2018 and is part of the year-round ongoing program of underground drilling.

This work was completed with two diamond drill rigs. A third was added in May which is entirely focused on expanding reserves and resources.

Results are provided for 169 drill holes for a total of approximately 12,600 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 six zones – Caribbean, Caspian, Cortez, Indian, Pacific, and Timor. A number of significant intersections were encountered.

KEY FINDINGS

  • 250 intersections encountered more than 5g Au/t
  • 105 intersections encountered more than 10g Au/t
  • 43 intersections encountered more than 20g Au/t
  • 5 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: "Our underground diamond drill program continues to be successful in intersecting high grade mineralzation across multiple zones at Plutonic underground. These results, together with previously reported drill data since we acquired the asset, continue to support our thesis that Plutonic is a long life asset that will be in production for many years to come. With three active underground rigs, we continue to accelerate towards a second reserve and resource estimate which will use data accumulated up until the end 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)

CARIBBEAN

UDD19938

4596

11739

1095

-20

70

71

25.50

27.90

2.40

7.8

1.7

      

Including

26.35

27.20

0.85

21.0

0.6

 

UDD20317

4721

11495

1208

-37

34

36

17.50

18.50

1.00

18.2

0.7

 

UDD20327

4728

11489

1208

-31

51

41

23.00

25.00

2.00

16.3

1.4

CASPIAN

UDD20068

4953

10931

1361

2

201

45

32.20

32.70

0.50

75.1

0.4

 

UDD20074

4927

10941

1359

-39

202

80

33.10

34.10

1.00

29.3

0.7

 

UDD20077

4918

10947

1361

28

201

72

56.85

59.15

2.30

15.1

1.6

 

UDD20078

4917

10947

1359

-24

201

74

16.70

17.90

1.20

13.0

0.8

      

Including

17.30

17.90

0.60

23.9

0.4

 

UDD20092

4874

10973

1359

0

201

76

27.00

29.00

2.00

15.4

1.4

 

UDD20101

4966

10921

1362

12

174

165

71.74

76.80

5.06

11.6

3.5

      

Including

71.74

73.13

1.39

31.8

1.0

CORTEZ

UDD19730

4876

11952

1199

77

292

79

17.50

18.40

0.90

28.6

0.6

 

UDD20307

4998

12279

1169

70

128

96

72.70

78.10

5.40

14.2

3.8

      

Including

76.10

78.10

2.00

33.7

1.4

 

UDD20308

4975

12272

1168

56

160

109

0.00

7.20

7.20

9.7

5.0

      

Including

0.00

1.00

1.00

51.7

0.7

 

UDD20309

4966

12270

1167

56

160

110

0.50

5.40

4.90

9.8

3.4

      

Including

0.50

2.40

1.90

18.3

1.3

      

and

5.00

5.40

0.40

31.5

0.3

INDIAN

UDD20145

3977

11448

1136

-31

153

165

33.72

34.72

1.00

22.1

0.7

        

137.63

138.35

0.72

35.3

0.5

PACIFIC

UDD20198

4823

12787

1132

-9

79

87

34.80

35.80

1.00

22.8

0.7

      

and

49.00

51.00

2.00

24.2

1.4

 

UDD20224

4900

13001

1195

73

195

71

42.30

44.30

2.00

24.7

1.4

 

UDD20225

4900

13000

1193

40

195

77

26.70

27.80

1.10

35.6

0.8

      

Including

26.70

27.50

0.80

47.5

0.6

 

UDD20232

4941

13010

1201

66

189

74

28.05

30.85

2.80

17.8

2.0

      

Including

28.05

28.55

0.50

84.2

0.4

TIMOR

UDD20278

4503

12682

1039

10

267

51

5.30

8.30

3.00

10.3

2.1

      

Including

5.30

6.30

1.00

19.6

0.7

        

35.90

40.45

4.55

89.4

3.2

 

UDD20281

4503

12683

1039

20

274

64

30.30

35.95

5.65

12.3

4.0

      

Including

33.30

34.30

1.00

26.4

0.7

      

and

34.80

35.40

0.60

39.3

0.4

 

UDD20282

4503

12683

1040

-10

282

33

7.90

11.00

3.10

14.3

2.2

      

Including

7.90

9.30

1.40

29.1

1.0

 

UDD20283

4503

12683

1040

8

274

74

3.60

6.80

3.20

29.0

2.2

 

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 industry 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 underground gold mine, which is a producing underground operation with a central mill, the Hermes open pit gold mine 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.
Brian Szeto, Vice President, Communications and Strategy
investor@superior-gold.com  
Tel: (647) 925-1295

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.

© 2018 Superior Gold Inc.
All rights reserved.
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