News Releases

INTERSECTIONS INCLUDE 25.2 G AU/T OVER 10.15 METRES, 36.5 G AU/T OVER 4.00 METRES, 192.0 G AU/T OVER 0.60 METRES AND 8.0 G AU/T OVER 17.20 METRES

TORONTO, November 29, 2017 - Superior 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 late July to late September 2017 and is part of the year-round ongoing program of underground drilling.

Results are provided for 191 drill holes for a total of more than 13,500 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. Grade control drilling was completed to provide additional information for stope design ahead of mining.

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

KEY FINDINGS

  • 275 intersections encountered more than 5g Au/t
  • 143 intersections encountered more than 10g Au/t
  • 53 intersections encountered more than 20g 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.

Chris Bradbrook, President and CEO of Superior Gold stated: "As with our previously released results this year (May 11, August 2, August 31 and September 25), these results continue to demonstrate the strength of the mineralized system at the Plutonic Gold Mine. We are extremely encouraged by these drill results and continue to work towards increasing the confidence level in the resources. One of our principal goals is to grow the level of underground reserves and to extend the mine life." 

HIGHLIGHTS

The most significant intersections are summarized in Table 1 below:

Table 1 – Key Intersections

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

UDD19456

4643

12601

1079

57

98

42

22.70

23.70

1.00

16.8

0.7

 

UDD19457

4628

12598

1081

75

92

46

3.70

5.35

1.65

32.2

1.2

 

UDD19519

4726

12297

1074

26

15

83

47.60

48.80

1.20

38.3

0.8

 

UDD19520

4732

12350

1060

84

358

40

28.30

30.25

1.95

11.1

1.4

 

UDD19521

4739

12293

1072

39

2

75

37.70

38.15

0.45

67.7

0.3

 

UDD19523

4739

12293

1074

57

339

56

25.20

27.50

2.30

22.6

1.6

 

UDD19524

4740

12293

1073

52

20

61

18.40

19.75

1.35

17.7

0.9

 

UDD19528

4702

12272

1070

80

88

50

16.00

21.60

5.60

9.3

3.9

 

UDD19542

4765

12321

1067

70

58

53

43.60

45.10

1.50

16.4

1.1

 

UDD19545

4763

12325

1066

63

37

55

52.35

53.60

1.25

23.2

0.9

 

UDD19549

4752

12330

1063

33

354

93

42.80

43.30

0.50

104.0

0.4

 

UDD19551

4752

12329

1064

61

351

57

31.90

32.50

0.60

192.0

0.4

 

UDD19553

4752

12330

1064

43

11

77

50.80

53.70

2.90

8.1

2.0

 

UDD19556

4761

12327

1066

53

12

65

57.70

63.40

5.70

19.6

4.0

      

Including

58.70

59.70

1.00

83.9

0.7

 

UDD19706

4975

12294

1153

22

340

96

11.65

13.10

1.45

22.6

1.0

 

UDD19709

4976

12294

1152

0

360

143

21.95

22.25

0.30

83.3

0.2

        

26.25

27.90

1.65

18.8

1.2

 

UDD19711

4977

12294

1152

-10

360

143

35.15

35.65

0.50

55.1

0.4

CARIBBEAN

UDD19665

4571

11699

1105

-45

180

30

27.10

28.10

1.00

19.0

0.7

 

UDD19666

4576

11706

1104

-50

40

53

33.80

36.60

2.80

7.9

2.0

CASPIAN

UDD19423

4776

11047

1273

39

230

44

37.70

40.80

3.10

6.6

2.2

 

UDD19638

4345

10956

1334

-51

236

11

9.40

10.10

0.70

46.2

0.5

 

UDD19647

4353

10950

1334

-63

198

15

2.00

2.50

0.50

42.6

0.4

CORTEZ

UDD19613

4876

12124

1161

15

10

178

71.40

72.60

1.20

34.4

0.8

 

UDD19618

4876

12124

1161

15

0

167

111.40

115.40

4.00

36.5

2.8

 

UDD19621

4876

12124

1161

7

15

188

100.30

101.70

1.40

29.1

1.0

 

UDD19622

4809

12226

1145

60

97

100

34.25

37.20

2.95

30.6

2.1

      

Including

34.25

35.25

1.00

30.0

0.7

      

and

36.50

37.20

0.70

81.6

0.5

 

UDD19623

4809

12225

1145

61

80

101

30.05

30.80

0.75

99.9

0.5

 

UDD19624

4809

12226

1145

65

110

100

32.40

33.55

1.15

19.9

0.8

 

UDD19625

4808

12227

1145

70

90

99

24.80

26.60

1.80

17.6

1.3

 

UDD19626

4809

12225

1145

85

90

83

21.20

26.70

5.50

7.8

3.9

 

UDD19627

4809

12226

1145

65

55

96

29.30

30.20

0.90

32.5

0.6

 

UDD19628

4809

12225

1145

75

65

90

20.05

25.10

5.05

9.5

3.5

      

Including

22.80

25.10

2.30

16.4

1.6

      

and

63.15

67.10

3.95

12.4

2.8

 

UDD19695

4977

12294

1153

3

350

44

33.20

33.70

0.50

116.0

0.4

 

UDD19699

4980

12294

1153

15

48

100

64.80

82.00

17.20

8.0

12.0

 

UDD19702

4981

12291

1156

55

90

100

7.00

7.40

0.40

247.0

0.3

 

UDD19704

4981

12291

1155

50

120

101

26.00

33.45

7.45

10.6

5.2

      

Including

27.00

29.00

2.00

18.8

1.4

      

and

30.00

32.90

2.90

11.3

2.0

INDIAN

UDD19130

4154

11003

1396

-60

185

125

118.00

119.00

1.00

40.0

0.7

 

UDD19558

4451

11239

1251

-18

94

52

45.10

46.30

1.20

16.5

0.8

 

UDD19604

4320

11358

1141

40

136

118

78.50

79.20

0.70

35.3

0.5

 

UDD19655

4283

11468

1146

55

19

23

8.00

8.30

0.30

108.0

0.2

 

UDD19761

4339

11379

1173

35

160

47

30.70

33.40

2.70

10.2

1.9

PACIFIC

UDD19671

4624

12704

1073

62

80

56

0.75

2.50

1.75

18.1

1.2

 

UDD19672

4625

12703

1071

29

91

83

38.30

40.80

2.50

15.9

1.8

 

UDD19686

4621

12695

1072

70

275

72

5.55

15.70

10.15

25.2

7.2

      

Including

5.55

10.75

5.20

45.0

3.6

 

UDD19690

4623

12695

1072

88

100

61

9.55

11.15

1.60

17.3

1.1

 

UDD19691

4621

12708

1073

89

90

36

9.65

10.10

0.45

58.4

0.3

 

Outlook and Strategy

In the near term, the Company is focused on re-establishing the Plutonic Gold Operations as a stable gold producer capable of producing at least 100,000 ounces of gold annually. To achieve this goal, the Company intends to focus on its growth strategy which includes:

  • Focusing on quality high-grade ounces
  • Optimizing recoveries
  • Increasing incremental production from underground and open pit sources
  • Resource and reserve additions through property wide exploration
  • Leveraging the excess mill capacity

With the proceeds raised from the completion of the initial public offering, and the cash generated from the Plutonic Gold Mine, the Company has the liquidity available to execute on its near-term growth and exploration strategy.

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by Alfred Gillman, Fellow AusImm (Chartered Professional, Geology) and a "qualified person" within the meaning of NI 43-101. Mr. Gillman is a Consultant to Superior Gold Inc.

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.

 

© 2017 Superior Gold Inc.
All rights reserved.
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