News Releases

TORONTO, Aug. 17, 2021 - Superior Gold Inc. ("Superior Gold" or the "Company") (TSXV: SGI) is pleased to announce high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia.  Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold to date and encompasses a Measured and Indicted Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces.  The Company's continuous exploration effort underpins a commitment to resource growth.

Results are provided for 52 underground exploration drill holes for a total of 8,451 metres of drilling.  Drilling was focused on extending and infilling the Western Mining Front which remains open along strike and both up and down dip as it is yet to be fully drill tested.

HIGHLIGHTS

  • Drill hole UDD24141 intersected 42.2 g/t gold over 5.6 metres in the Caspian zone
  • Drill hole UDD24376 intersected 17.7 g/t gold over 6.4 metres in the Baltic Extension zone
  • The new Western Mining Front now extends an estimated 1,600 metres by 60 metres outside of the current Mineral Resource envelope
  • The new Western Mining Front is directly adjacent to existing underground infrastructure, thus requiring minimal capital to develop the area
  • Today's drill results continue to support the Company's strategy of opening new high-grade mining fronts at the Western Mining Front at Plutonic underground

The location of this drilling is shown in Figures 1-4 below. The key intersections are shown in Table 1 and Table 2 below and all intersections are provided in Table 3.  Reported intersections are over a minimum downhole length of 0.30 metres (0.20 metres true width).

Chris Jordaan, President and CEO of Superior Gold stated: "We are delighted to announce today's drill results, clearly extending the new high-grade Western Mining Front.  Today's drill results extends the western edge of the Plutonic deposit a further approximately 60 metres along the entire Western Mining Front currently estimated to be 1.6 kilometre long from surface to Baltic West.  They also support our view that this new northwest high-grade trend, known as the Guppy Trend, continues through an area not previously drilled, opening a much larger target area than previously considered.

Results to date support our view that the Western Mining Front has excellent potential to be an important new gold production zone at Plutonic.  In addition, today's results are not included in our current Mineral Resource estimate.

The expansion into new mining fronts is a key component of our current strategy to extend Plutonic's mine life and increase production by further improving our mining grades and efficiencies.  Our ongoing drill program, utilizing our dedicated exploration drill rig, will continue to infill the Western Mining Front with the aim of including parts of this area in the 2022 mine plan."

EXTENSION OF THE WESTERN MINING FRONT

Superior Gold's mine exploration program is designed to open new mining fronts by targeting extensions of high-grade mineralization that are close to existing infrastructure but outside of the current Mineral Resources.  Numerous significant historical high-grade intercepts, both throughout and peripheral to the large mineralized Plutonic system, have yet to be followed up. The immediate focus is on expanding two key areas to open new mining fronts, these being: 1) The Western Mining Front (along the Caspian, Indian and Baltic zones); and 2) The Baltic Gap as shown in Figure 4.

The Western Mining Front extends approximately 1.6 kilometre along the western edge of the Caspian, Indian and Baltic zones of the Plutonic underground mine and remains open, with several historic high-grade intercepts confirming mineralization continuity outside of Mineral Resources, as shown in Figure 4

Drilling in 2020 identified significant high-grade mineralization in the northwest of the Indian zone, including 56.3 g/t gold over 15.1 metres (hole UDD22011) (refer to the News Release dated June 17, 2020).  Drilling in the first quarter of 2021 identified the northwest extension of these high-grade bands of mineralization, 350 metres down dip in the Baltic zone, including 13.7 g/t gold over 8.8 metres (hole UDD23656) (refer to the News Release dated March 1, 2021).

Today's Western Mining Front drill results extend from the Caspian zone, down through the Indian and Baltic zones to the Baltic Extension zone – covering up to a 1.6 kilometre long northwest extension of the Western Mining Front.  Results are clustered in three general areas 1) Caspian zone, 2) Baltic West zone and 3) Baltic Extension zone as shown in Figures 1 and 2.

The Caspian zone results include 42.2 g/t gold over 5.6 metres (hole UDD24141), extending the Caspian zone along the northwest Guppy Trend, which is now thought to extend the entire 1.6 kilometre length of the Western Mining Front.

The Baltic West zone also includes results along the Guppy Trend, located between the Indian zone and Baltic zone results (noted above), approximately 50 metres up dip from the March 2021 Baltic zone results and 170 metres west of the current Mineral Resource envelope.  Consistent grade bearing intersections, including 140.4 g/t gold over 1.4 metres (grade control hole UDD23993) and 10.1 g/t gold over 4.0 metres (hole UDD24191), further demonstrate continuity of the typical Plutonic mineralization system, being a high-grade stacked lode system. 

The Baltic Extension zone results include 17.7 g/t gold over 6.4 metres (hole UDD24376) and 6.4 g/t gold over 5.9 metres (hole UDD 24379), up to 100 metres northwest of the existing Mineral Resource envelope.  These results support continuity with historical high-grade step out intercepts, such as 6.7 g/t gold over 6.8 metres (hole PEDD0221), which demonstrates a 620 metre strike of high-grade mineralization, including today's results.

Today's results also support the hypothesis that the highest grades at Plutonic are controlled by the northwest trending faults.  These results are also adjacent and in close proximity to existing infrastructure which translates to minimal capital expenditures required to infill drill and develop the area.

Figure 1: Mineralized Zones at Plutonic Underground with Drill Hole Locations (Plan View)

Figure 1: Mineralized Zones at Plutonic Underground with Drill Hole Locations (Plan View) (CNW Group/Superior Gold)

Figure 2: Western Mining Front Extension Third Quarter 2021 Drill Hole Locations (Plan View)

Figure 2: Western Mining Front Extension Third Quarter 2021 Drill Hole Locations (Plan View) (CNW Group/Superior Gold)

Figure 3: Western Mining Front Significant Intercept Location (Cross Section – Looking South)

Figure 3: Western Mining Front Significant Intercept Location (Cross Section – Looking South) (CNW Group/Superior Gold)

Figure 4: Plutonic Historical Significant Intercepts and Targeted New Mining Fronts (Plan View)

 

Figure 4: Plutonic Historical Significant Intercepts and Targeted New Mining Fronts (Plan View) (CNW Group/Superior Gold)

Table 1: Highlights of Expansion Drill Results from Western Mining Front

 

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

   
   
   

UDD24186

3608

11695

914

-18

259

141

54.0

58.7

4.7

3.1

3.3

   

UDD24187

3608

11696

914

-23

275

125

55.2

71.0

15.8

2.6

11.1

   

UDD24191

3607

11697

914

-23

290

210

67.2

71.2

4.0

10.1

2.8

   
             

60.1

63.3

3.2

3.0

2.2

   

UDD24221

4566

11317

1225

15

298

80

54.4

57.8

3.4

6.9

2.4

   

UDD24246

3607

11697

916

25

294

183

155.6

157.6

2.0

5.0

1.4

   

UDD24263

3571

11961

900

-31

214

246

175.8

176.8

1.0

8.7

0.7

   

UDD24374

3573

11959

900

-25

206

186

162.2

165.4

3.2

2.9

2.2

   

UDD24376

3573

11959

899

-30

204

205

159.3

165.7

6.4

17.7

4.5

   

UDD24377

3573

11959

900

-21

203

180

133.4

134.4

1.0

30.4

0.7

   
             

171.8

172.8

1.0

12.3

0.7

   

UDD24378

3584

11947

899

-36

205

201

177.3

178.1

0.8

25.3

0.6

   
             

191.0

193.0

2.0

6.3

1.4

   
             

185.0

186.0

1.0

12.0

0.7

   
             

106.0

106.5

0.5

17.3

0.4

   

UDD24379

3584

11947

900

-29

205

209

161.0

166.8

5.8

7.0

4.1

   
             

153.1

159.0

5.9

6.4

4.1

   

UDD24380

3584

11947

900

-17

205

211

165.0

166.1

1.1

8.2

0.8

   

UDD24382

3593

11938

899

-32

201

207

189.0

193.0

4.0

5.0

2.8

   

UDD24383

3593

11938

899

-39

200

204

175.5

178.2

2.7

10.4

1.9

   

UDD24386

3600

11933

899

-31

194

198

183.0

189.3

6.3

2.6

4.4

   

UDD24387

3627

11906

898

-31

200

123

89.5

90.5

1.0

34.7

0.7

   

UDD24387A

3627

11906

898

-32

203

192

171.0

175.1

4.1

17.5

2.9

   
             

143.9

145.7

1.8

4.5

1.3

   

UDD24388A

3627

11906

898

-39

202

178

140.1

143.2

3.1

3.7

2.2

   

Note: Mine grid co-ordinates shown.

Table 2: Highlights of Infill Drill Results from Western Mining Front

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)

Down hole From (m)

Down hole To (m)

Downhole Intersection (m)

Au (gpt) uncut

Est True Thickness

   
   
   

UDD23870

4734

10726

1350

1

329

153

117.7

121.3

3.6

9.9

2.5

   

UDD24130

3683

11670

998

-13

328

108

61.7

62.6

0.9

23.2

0.6

   

UDD24139

4043

11157

1158

9

232

84

19.1

20.9

1.8

11.8

1.3

   

UDD24141

4042

11157

1158

12

243

102

20.0

25.6

5.6

42.2

3.9

   

UDD24200

4628

10733

1362

-7

359

138

111.3

117.1

5.8

6.6

4.1

   

UDD24201

4628

10733

1362

-7

14

165

114.4

120.7

6.3

7.4

4.4

   

UDD24202

4627

10732

1362

-5

9

141

67.2

70.5

3.3

7.0

2.3

   

UDD24203

4752

10947

1343

-1

221

141

115.1

119.3

4.2

9.7

2.9

   

UDD24207

4752

10947

1343

2

215

174

139.4

144.2

4.8

10.5

3.4

   
             

130.1

133.6

3.5

7.2

2.5

   

UDD24208

4752

10947

1343

2

220

165

134.5

135.9

1.4

14.9

1.0

   

UDD24209

4752

10947

1343

-1

225

168

117.0

119.2

2.2

13.4

1.5

   

UDD24298

4289

11901

938

12

174

62

50.1

52.3

2.2

31.9

1.5

   
             

25.5

27.2

1.7

13.2

1.2

   

UDD24362

4655

11015

1280

-63

162

66

36.4

40.5

4.1

6.2

2.9

   

UDD24363

4656

11015

1280

-51

139

84

66.8

71.1

4.3

5.2

3.0

   

UDD24365

4651

11017

1280

-85

223

77

48.7

55.9

7.2

5.3

5.0

   

UDD24367

4655

11015

1280

-67

137

84

62.5

72.5

10.0

6.9

7.0

   

UDD24368

4656

11015

1280

-59

148

81

60.2

68.2

8.0

3.9

5.6

   

UDD24480

4455

11171

1249

-16

243

24

3.8

6.2

2.4

11.2

1.7

   

UDD24545

3858

11708

910

-13

196

102

92.6

96.6

4.0

9.4

2.8

   

UDD23957

3680

11624

938

4

250

51

10.7

14.4

3.7

14.4

2.6

   

UDD23964

3702

11618

941

77

212

21

2.1

3.9

1.8

11.5

1.3

   

UDD23965

3702

11619

941

68

225

15

0.6

1.0

0.4

463.3

0.3

   

UDD23975

3682

11624

936

-70

243

72

0.4

1.5

1.1

24.7

0.8

   

UDD23979

3694

11622

941

85

7

15

0.0

0.3

0.3

146.6

0.2

   

UDD23993

3681

11665

998

-51

218

110

79.3

80.7

1.4

140.4

1.0

   

UDD23994

3681

11666

998

-51

227

96

82.2

82.5

0.3

100.5

0.2

   

UDD23997

3681

11666

998

-56

232

90

80.4

81.5

1.1

58.1

0.8

   

Note: Mine grid co-ordinates shown.

 

Table 3: Complete Expansion Drill Results from Western Mining Front

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)

Down hole From (m)

Down hole To (m)

Down hole Intersection (m)

Au (gpt) uncut

Est True Thickness

   
   
   

UDD24336

4075

11935

860

4

290

74

57.7

58.7

1.0

17.5

0.7

   
             

69.0

70.0

1.0

3.4

0.7

   

UDD24337

4067

11929

858

-6

290

90

58.7

60.7

2.0

2.1

1.4

   
             

86.0

87.0

1.0

6.1

0.7

   

UDD24338

4050

11917

855

-5

292

60

35.6

36.6

1.0

2.5

0.7

   
             

38.9

39.9

1.0

1.0

0.7

   
             

42.1

46.7

4.6

1.7

3.2

   
             

55.9

56.9

1.0

1.3

0.7

   
             

57.9

58.8

0.9

1.7

0.6

   

UDD24339

4016

11895

850

-13

324

183

37.1

38.1

1.0

1.1

0.7

   
             

44.1

45.1

1.0

7.2

0.7

   
             

72.4

72.8

0.4

2.3

0.3

   
             

102.1

106.3

4.2

1.1

2.9

   
             

128.0

128.9

0.9

1.5

0.6

   
             

154.0

154.7

0.7

5.7

0.5

   

UDD24340

3997

11882

846

-18

323

195

16.3

17.3

1.0

5.1

0.7

   
             

23.6

24.5

0.9

1.6

0.6

   
             

44.0

45.0

1.0

1.4

0.7

   
             

55.1

58.1

3.0

1.1

2.1

   
             

94.4

96.2

1.8

23.0

1.3

   
             

160.0

160.6

0.6

1.6

0.4

   
             

163.5

164.5

1.0

1.9

0.7

   
             

189.1

189.6

0.5

1.6

0.4

   

UDD24341

3969

11862

841

-12

318

90

30.0

33.0

3.0

2.3

2.1

   
             

42.8

43.8

1.0

12.4

0.7

   
             

45.8

47.8

2.0

1.4

1.4

   
             

82.0

85.0

3.0

1.2

2.1

   

UDD24342

3979

11869

843

-19

322

114

22.6

36.0

13.4

14.8

9.4

   
             

39.0

40.0

1.0

1.1

0.7

   
             

60.6

64.0

3.4

1.1

2.4

   
             

66.0

67.0

1.0

2.2

0.7

   
             

69.0

70.1

1.1

2.5

0.8

   

UDD24343

3897

11806

833

60

282

41

10.1

11.1

1.0

1.7

0.7

   

UDD24351

3847

11867

832

-24

2

186

1.7

3.7

2.0

1.6

1.4

   
             

12.4

13.2

0.9

2.2

0.6

   
             

142.3

143.2

0.9

1.0

0.6

   
             

161.2

162.2

1.0

5.4

0.7

   
             

170.7

171.2

0.5

1.5

0.4

   
             

175.9

176.9

1.0

60.0

0.7

   

UDD24352

3834

11869

832

-34

3

177

153.2

154.2

1.0

1.2

0.7

   
             

161.2

162.2

1.0

2.4

0.7

   
             

165.0

165.3

0.3

1.7

0.2

   

UDD24353

3866

11865

832

-24

6

168

9.9

10.9

1.0

1.2

0.7

   
             

21.0

22.0

1.0

1.2

0.7

   
             

88.0

89.0

1.0

3.4

0.7

   
             

93.4

97.6

4.3

2.3

3.0

   
             

102.0

108.5

6.5

2.8

4.5

   
             

117.3

119.9

2.6

1.6

1.8

   
             

129.3

130.9

1.6

2.1

1.1

   
             

148.8

152.0

3.3

3.2

2.3

   

UDD24354

3858

11866

832

-34

5

174

11.5

16.4

4.9

1.9

3.4

   
             

140.3

141.1

0.8

2.6

0.6

   
             

143.5

146.3

2.8

2.1

2.0

   
             

148.7

155.2

6.5

4.1

4.6

   

UDD24355

3847

11867

831

-44

2

171

64.1

64.6

0.5

14.5

0.3

   
             

92.5

93.5

1.0

3.4

0.7

   
             

113.0

114.0

1.0

3.7

0.7

   
             

118.2

119.2

1.0

2.7

0.7

   
             

139.7

140.7

1.0

2.0

0.7

   
             

162.7

165.1

2.4

1.6

1.7

   

UDD24356

3850

11867

832

-42

22

93

14.3

18.8

4.5

1.6

3.1

   
             

53.5

54.2

0.7

4.9

0.5

   

UDD24357

3842

11868

831

-60

23

63

6.0

9.0

3.0

1.9

2.1

   
             

14.0

16.7

2.7

9.0

1.9

   
             

20.3

21.0

0.7

3.4

0.5

   
             

23.0

26.0

3.0

1.7

2.1

   
             

27.7

30.7

3.0

1.4

2.1

   
             

34.1

35.1

1.0

1.3

0.7

   
             

48.3

50.0

1.7

6.3

1.2

   
             

54.0

55.0

1.0

9.2

0.7

   

UDD24358

3816

11868

832

-60

16

147

78.6

79.2

0.6

3.2

0.4

   
             

85.0

86.0

1.0

1.7

0.7

   
             

89.5

90.4

0.9

2.0

0.6

   
             

94.4

95.4

1.0

2.3

0.7

   
             

109.3

111.4

2.1

2.2

1.5

   

UDD24359

3861

11861

833

39

172

60

8.7

9.0

0.4

1.5

0.2

   
             

11.1

17.0

6.0

2.3

4.2

   
             

23.0

25.0

2.0

1.9

1.4

   
             

30.0

31.0

1.0

1.1

0.7

   
             

36.0

36.6

0.6

6.6

0.4

   
             

41.8

42.6

0.8

5.8

0.5

   
             

44.6

44.9

0.4

1.6

0.3

   
             

47.8

49.6

1.8

1.3

1.2

   
             

57.7

59.7

2.1

1.8

1.4

   

UDD24360

3807

11862

834

18

198

57

28.3

29.3

1.0

1.6

0.7

   
             

41.2

43.0

1.8

1.3

1.3

   
             

47.5

48.4

0.9

3.6

0.6

   
             

53.0

55.6

2.6

3.8

1.8

   

UDD24263

3571

11961

900

-31

214

246

175.8

176.8

1.0

8.7

0.7

   

UDD24373

3573

11959

899

-30

210

186

165.7

166.7

1.0

1.2

0.7

   
             

168.7

170.7

2.0

2.4

1.4

   

UDD24374

3573

11959

900

-25

206

186

162.2

165.4

3.2

2.9

2.2

   
             

168.4

169.4

1.0

1.6

0.7

   

UDD24376

3573

11959

899

-30

204

205

159.3

165.7

6.4

17.7

4.5

   

UDD24377

3573

11959

900

-21

203

180

133.4

134.4

1.0

30.4

0.7

   
             

153.9

154.9

1.0

1.0

0.7

   
             

156.9

157.9

1.0

1.1

0.7

   
             

163.6

164.6

1.0

4.8

0.7

   
             

171.8

172.8

1.0

12.3

0.7

   

UDD24378

3584

11947

899

-36

205

201

106.0

106.5

0.5

17.3

0.4

   
             

151.6

152.6

1.0

5.8

0.7

   
             

164.4

166.0

1.7

1.3

1.2

   
             

177.3

178.1

0.8

25.3

0.6

   
             

185.0

186.0

1.0

12.0

0.7

   
             

191.0

193.0

2.0

6.3

1.4

   

UDD24379

3584

11947

900

-29

205

209

145.1

147.1

2.0

2.3

1.4

   
             

153.1

159.0

5.9

6.4

4.1

   
             

161.0

166.8

5.8

7.0

4.1

   

UDD24380

3584

11947

900

-17

205

211

146.3

146.8

0.5

1.2

0.4

   
             

152.8

156.0

3.2

2.1

2.3

   
             

165.0

166.1

1.1

8.2

0.8

   

UDD24381

3584

11947

900

-20

200

180

123.1

124.1

1.0

1.4

0.7

   
             

127.0

128.0

1.0

1.4

0.7

   
             

172.0

173.0

1.0

1.6

0.7

   

UDD24382

3593

11938

899

-32

201

207

175.0

176.0

1.0

2.1

0.7

   
             

182.0

184.0

2.0

2.2

1.4

   
             

189.0

193.0

4.0

5.0

2.8

   

UDD24383

3593

11938

899

-39

200

204

135.2

135.7

0.5

3.3

0.4

   
             

144.8

145.4

0.6

1.2

0.4

   
             

175.5

178.2

2.7

10.4

1.9

   
             

187.6

188.6

1.0

2.5

0.7

   
             

195.0

195.5

0.5

1.3

0.4

   

UDD24384

3593

11938

899

-31

196

207

185.6

190.5

4.9

7.4

7.9

   

UDD24385

3600

11933

901

-4

196

207

130.1

132.1

2.0

2.4

1.4

   
             

189.4

190.4

1.0

1.1

0.7

   

UDD24386

3600

11933

899

-31

194

198

183.0

189.3

6.3

2.6

4.4

   

UDD24387

3627

11906

898

-31

200

123

89.5

90.5

1.0

34.7

0.7

   
             

92.4

93.0

0.6

1.4

0.4

   
             

96.0

97.0

1.0

3.9

0.7

   
             

100.0

101.0

1.0

4.5

0.7

   
             

121.5

122.1

0.6

1.7

0.4

   

UDD24387A

3627

11906

898

-32

203

192

121.7

122.2

0.6

1.6

0.4

   
             

136.2

137.2

1.0

1.2

0.7

   
             

143.9

145.7

1.8

4.5

1.3

   
             

150.7

154.4

3.7

1.4

2.6

   
             

168.3

169.3

1.0

3.1

0.7

   
             

171.0

175.1

4.1

17.5

2.9

   

UDD24388A

3627

11906

898

-39

202

178

118.5

120.0

1.5

1.4

1.1

   
             

140.1

143.2

3.1

3.7

2.2

   
             

152.8

153.1

0.4

3.9

0.2

   

UDD24185

3608

11695

914

-6

257

327

63.8

64.6

0.8

6.8

0.6

   
             

72.8

74.1

1.3

3.0

0.9

   
             

164.2

165.2

1.0

3.0

0.7

   

UDD24186

3608

11695

914

-18

259

141

1.0

1.5

0.5

1.2

0.4

   
             

54.0

58.7

4.7

3.1

3.3

   
             

61.7

63.4

1.8

1.1

1.2

   
             

74.9

75.6

0.7

4.5

0.5

   
             

132.4

132.9

0.5

1.6

0.4

   

UDD24187

3608

11696

914

-23

275

125

55.2

71.0

15.8

2.6

11.1

   

UDD24188

3607

11696

914

-36

286

141

47.8

48.6

0.8

2.1

0.6

   

UDD24189

3607

11696

914

-25

284

145

49.6

50.6

1.0

2.2

0.7

   
             

55.6

57.3

1.7

1.3

1.2

   
             

59.5

60.5

1.0

2.5

0.7

   

UDD24190

3608

11696

914

-15

278

162

18.1

19.1

1.0

6.1

0.7

   
             

71.8

72.3

0.5

1.1

0.4

   
             

76.4

77.1

0.8

2.0

0.5

   

UDD24191

3607

11697

914

-23

290

210

7.9

8.5

0.6

1.7

0.4

   
             

60.1

63.3

3.2

3.0

2.2

   
             

67.2

71.2

4.0

10.1

2.8

   
             

76.5

77.5

1.0

1.1

0.7

   
             

195.8

196.1

0.3

1.9

0.2

   

UDD24245

3610

11698

915

12

314

146

70.1

71.1

1.0

1.4

0.7

   
             

94.9

95.5

0.6

3.3

0.4

   
             

121.9

122.3

0.4

1.2

0.3

   
             

124.3

126.3

2.0

2.8

1.4

   
             

130.5

131.5

1.0

1.1

0.7

   

UDD24246

3607

11697

916

25

294

183

144.1

144.6

0.6

2.7

0.4

   
             

155.6

157.6

2.0

5.0

1.4

   

UDD24248

3607

11697

915

8

293

201

57.9

58.6

0.7

1.0

0.5

   
             

165.2

166.2

1.0

1.8

0.7

   
             

171.7

172.7

1.0

1.3

0.7

   
             

189.3

190.3

1.0

1.7

0.7

   

UDD24249

3607

11697

914

-6

295

225

24.7

25.7

1.0

3.9

0.7

   
             

53.6

54.5

0.9

1.7

0.6

   
             

57.5

58.0

0.5

1.8

0.4

   
             

60.7

61.7

1.0

1.3

0.7

   
             

151.9

152.4

0.5

2.6

0.3

   

UDD24212

4604

11332

1230

12

232

204

106.8

107.3

0.5

2.8

0.4

   
             

121.4

122.4

1.0

2.9

0.7

   
             

127.0

128.0

1.0

2.2

0.7

   

UDD24215

4519

11267

1215

6

190

150

11.0

12.0

1.0

5.2

0.7

   
             

45.1

47.5

2.4

2.1

1.7

   

UDD24218

4566

11316

1227

40

285

150

40.5

41.1

0.6

11.1

0.4

   

UDD24221

4566

11317

1225

15

298

80

54.4

57.8

3.4

6.9

2.4

   

UDD23817A

3775

11632

1042

-48

156

188

115.3

115.6

0.3

4.3

0.2

   
             

126.7

127.0

0.3

2.1

0.2

   
             

140.9

141.2

0.3

1.1

0.2

   

UDD23819

3776

11632

1042

-26

156

210

146.1

146.8

0.8

1.9

0.5

   

Note: Mine grid co-ordinates shown.

Mineral Resource and Technical Report

The updated Mineral Resource estimate and Preliminary Economic Assessment were completed under the supervision of Stephen Hyland, FAusIMM who is a "qualified person" as defined by NI 43-101 and is independent of the Company. Mr. Hyland  is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a member of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and a "qualified person" within the meaning of NI 43-101. Mr. Hyland is employed by Hyland Geological and Mining Consultants (HGMC) and has been engaged on the basis of professional association between client and independent consultant.

The technical report is entitled, "2020 Mineral Resource and Reserve Estimate for the Plutonic Gold Operations Including Main Open Cut Pit Area", is dated December 30, 2020, is effective December 31, 2019 and is available under Superior Gold's profile on SEDAR at www.sedar.com and on the Company's website at www.superior-gold.com.

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by Keith Boyle, P.Eng., Chief Operating Officer of the Company, who is a "qualified person" as defined by National Instrument 43-101 (NI 43-101).

Quality Control Protocols

Drilling is completed with NQ2 core diameter (50.7 mm) and samples are completed with combination of whole core and half core. Gold results were determined by ALS Minerals (Perth) and/or Plutonic laboratory using fire assay fusion.  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.

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 and central mill, numerous open pit projects including the Plutonic Main Pit push-back project, the Hermes open pit projects 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.

Forward Looking Information

This news 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 includes information with respect to guidance as to projections, outlook, guidance, forecasts, estimates, and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining), including projected cash operating costs and all-in sustaining costs) as well as statements with respect to the mine-plan, exploration, drilling, operating and organizational matters and activities relating to the Plutonic Gold Operations and the Company generally, including its liquidity and capital requirements and financial results. Such Forward-looking information also includes information related to the Company's previously announced strategic review process, the potential outcome of such process and the intended maximization of shareholder value that the Company believes may result from such process. By identifying such information in this manner, the Company is alerting the reader that such information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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. Readers are encouraged to refer to the Annual Information Form of the Company for a discussion of other risks including outbreaks or threats of outbreaks of viruses, other infectious diseases or other similar health threats, such as the novel coronavirus outbreak, which could have a material adverse effect on the Company by causing operational and supply chain delays and disruptions, labour shortages, shutdowns, the inability to sell gold, capital markets volatility or other unknown but potentially significant impacts. The Company cannot accurately predict what effects these conditions will have on the Plutonic Gold Operations or the financial results of the Company, including uncertainties relating to travel restrictions to the Plutonic Gold Operations or otherwise and business closures that have been or may be imposed by governments. If an outbreak or threat of an outbreak of a virus or other infectious disease or other public health emergency occurs, it could have a material adverse effect on the Company's business, financial condition and results of operations.

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 as no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, and if any of them do so, what benefits the Company will derive therefrom. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this news release to reflect events or circumstances after the date hereof. Neither the TSX Venture Exchange not 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.

Superior Gold Inc.
Brian Szeto, Vice President, Corporate Development
and
Sandy Noyes, Director of Investor Relations
investor@superior-gold.com
Tel: 647-925-1293

© 2021 Superior Gold Inc.
All rights reserved.
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