Northern Superior Res Inc Stock Price, News & Analysis

Northern Superior announced its 9-month exploration strategy for the Philibert gold property in Quebec, Canada, targeting expansion and connecting mineralization. The plan includes 20,000 meters of drilling in various directions, aiming to explore an additional 4 km of mineralization. Significant historical drill results include 1.55 g/t Au over 26.0 meters and 2.17 g/t Au over 17.9 meters. The project has a transformational Mineral Resource Estimate of 48.46 million tonnes inferred at 1.10 g/t Au, totaling 1,708,800 ounces, and 7.88 million tonnes indicated at 1.10 g/t Au, totaling 278,920 ounces. Recent $8 million equity financing will fund the program. The company also plans metallurgical testing and has outlined potential underground resources. Additionally, 2,250,000 stock options and 50,000 RSUs have been granted under the 2022 Equity Incentive Plan.

Northern Superior has appointed Eric Desaulniers to its Board of Directors, effective immediately. Desaulniers, renowned for his achievements in Quebec, brings substantial experience to the company. This move aligns with Northern Superior's focus on advancing exploration and consolidating the Chibougamau Gold Camp, signaling readiness for future development.

Desaulniers is the President and CEO of Nouveau Monde Graphite (NMG), driving sustainable development and securing strategic partnerships, including agreements with Panasonic Energy and General Motors. His leadership has positioned NMG as a key player in Quebec's Critical and Strategic Minerals development.

Desaulniers expressed excitement about contributing to Northern Superior's growth, particularly in the Philibert Gold Project, while Executive Chairman Victor Cantore praised Desaulniers' achievements and leadership skills.

Northern Superior Resources announced the completion of an $8 million private placement, consisting of 5,050,600 flow-through shares at $0.99 each and 5,454,600 common shares at $0.55 each. Cormark Securities acted as the sole underwriter. The net proceeds will fund working capital and Canadian exploration expenses in Quebec. Insider participation included CEO Simon Marcotte, Executive Chairman Victor Cantore, and director Michael Gentile. Their involvement qualifies as a related party transaction, but exemptions were applied. The shares issued to insiders are subject to a four-month hold period under TSX Venture Exchange policies.

On May 8, 2024, Northern Superior Resources Inc. and ONGold Resources announced the appointment of John Kim Bell as Chairman of the board of directors of ONGold. Mr. Bell is an esteemed Indigenous leader with a diverse career in arts, philanthropy, and corporate sectors. His appointment signifies a progressive and inclusive approach to mineral exploration and development in Ontario. The Company aims to leverage Mr. Bell's expertise to drive positive change and advance sustainability initiatives.

Northern Superior Resources Inc. and ONGold Resources announce the listing of Common Shares on the TSX Venture Exchange under the symbol 'ONAU'. Kyle Stanfield appointed as CEO and director, bringing over 25 years of mining sector experience, focusing on sustainable project development and collaboration with indigenous communities.

Northern Superior Resources Inc. and ONGold Resources announce the completion of a spinout transaction related to mining projects in Ontario. ONGold acquired Northern Superior's projects, including the TPK and October Gold properties. ONGold completed financings for $5.2 million and issued 10,108,843 Common Shares. Northern Superior now holds 35,686,686 Common Shares or 72.35% of ONGold. ONGold will begin trading under the symbol 'ONAU' on May 3, 2024. The Transaction includes a letter agreement between the companies. ONGold will use the proceeds for exploration and development of its mineral properties. The Technical Information section highlights the TPK Project and October Gold Project's exploration findings.