Northern Superior Res Inc Stock Price, News & Analysis

Northern Superior Resources Inc. has appointed Jean Lafleur, a seasoned geologist with 45 years of experience, to its Technical Committee. Lafleur's expertise in the Chibougamau gold camp and his extensive connections will enhance the company's project advancements. Additionally, Peter Damouni has joined the Board of Directors, replacing Gordon Morrison, who will continue as a consultant. The company has engaged Outside The Box Capital for a 6-month marketing contract worth $100,000. Northern Superior also granted 5,180,000 incentive stock options to directors and employees. These moves indicate a strategic focus on growth within Quebec's mining sector.

Northern Superior Resources Inc. announced the successful closing of a CDN$5 million non-brokered equity private placement on February 9, 2023. The offering involved the issuance of 10,000,000 common shares at CDN$0.50 each. Proceeds will support exploration activities and general corporate purposes. Notable participants included a prominent Canadian institution and strategic investors. Insiders subscribed for a total of 1,700,000 shares, with key executives each investing CDN$250,000. The shares are subject to a four-month hold period ending June 10, 2023. The offering received conditional acceptance from the TSX Venture Exchange on February 6, 2023.

Northern Superior Resources Inc. (TSXV:SUP)(OTCQX:NSUPF) announced a fully subscribed, non-brokered private placement financing of C$5 million. The Company will issue 10 million shares at C$0.50 each, with participation from strategic investors and insiders, including key executives investing C$1.1 million collectively. Proceeds will be used for general corporate purposes, and the Offering's closing is expected before February 6, 2023, pending regulatory approvals. Northern Superior focuses on gold exploration, boasting significant land holdings in Quebec and Ontario, including properties like Philibert and Chevrier, which have substantial inferred gold resources.

Northern Superior Resources Inc. reported promising assay results from the Falcon Gold Zone on its Lac Surprise property. Highlights include DDH LCS-22-067 yielding 1.63 g/t Au over 45.9 metres, and DDH LCS-22-068 showing 0.84 g/t Au over 43.0 metres, with higher grades of 7.92 g/t Au. The Falcon Gold Zone has been defined over a 900-metre strike length and 380 metres vertical depth, demonstrating strong mineralization characteristics similar to the Nelligan gold deposit. Due to successful results, the company expanded its drilling program to 8,200 metres, focusing on resource confirmation and further exploration. Additional assay results are pending.

Northern Superior Resources Inc. reported significant assay results from the Arctic Fox Zone of the Philibert gold property. Highlights include:

• DDH PB-22-360: 5.96 g/t Au over 10.0 metres.
• DDH PB-22-339: 2.94 g/t Au over 14.0 metres.
• 23 additional holes pending results.

Simon Marcotte, President & CEO, expressed optimism about ongoing developments and plans for an updated resource estimate. Overall, the 2022 drill program confirmed high-grade gold presence along the Arctic Fox Zone, which remains a focus for further exploration.