Northern Superior Res Stock Price, News & Analysis

Northern Superior Resources Inc. (OTCQB: NSUPF) was a gold exploration company focused on the Chibougamau Camp in Québec, Canada. According to company disclosures, Northern Superior consolidated what it described as the largest land package in this region, with total landholdings exceeding tens of thousands of hectares. Its main properties in the Chibougamau Gold Camp included Philibert, Hazeur (adjacent to Philibert), Lac Surprise (adjacent to Nelligan), Chevrier, Croteau, Monster Lake East, and Monster Lake West.

The company’s shares traded on the TSX Venture Exchange under the symbol SUP and on the OTCQB Venture Market under the symbol NSUPF. Northern Superior was a reporting issuer in British Columbia, Alberta, Ontario and Québec. Its business model centered on mineral exploration and resource definition in established Canadian gold camps, with a particular emphasis on advancing projects in Québec’s Chibougamau Gold Camp and, through its interest in ONGold Resources Ltd., exploration assets in Northern Ontario and Manitoba.

Corporate transformation and acquisition by IAMGOLD

On the basis of a court-approved plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia), IAMGOLD Corporation acquired all of the issued and outstanding common shares of Northern Superior. Following completion of this arrangement, Northern Superior became a wholly owned subsidiary of IAMGOLD. The company has stated that its common shares will be delisted from the TSX Venture Exchange and that an application will be made for Northern Superior to cease to be a reporting issuer in Ontario, British Columbia, Alberta and Québec.

Under the arrangement, former Northern Superior shareholders became entitled to receive, for each Northern Superior share held immediately prior to the effective time, a combination of IAMGOLD common shares and cash. The arrangement also included a distribution to former Northern Superior shareholders of all the common shares of ONGold Resources Ltd. previously held by Northern Superior, on a pro rata basis.

Exploration focus in the Chibougamau Gold Camp

Company disclosures describe Northern Superior as a gold exploration company focused on the Chibougamau Camp in Québec. The company reported that it had consolidated the largest land package in the region, with landholdings exceeding 60,000 hectares and, in later releases, more than 68,000 and then 70,000 hectares as additional properties were acquired. Its principal properties in this camp were:

• Philibert – Described as a flagship project located in the southern Chibougamau Gold Camp, situated approximately 9 km from IAMGOLD Corporation’s Nelligan gold project. Philibert was reported to host a maiden NI 43-101 mineral resource with both inferred and indicated gold resources. Northern Superior held a 75% interest in Philibert, with SOQUEM holding the remaining 25%, and the company stated that it retained an option to acquire 100% ownership.
• Hazeur – A property described as strategically located adjacent to Philibert. Northern Superior indicated that Hazeur is believed to represent a potential northwest or western extension of Philibert-style mineralization, including extensions of zones such as the Red Fox zone. Historical drilling and compilation work at Hazeur were reported to show gold mineralization west of the Philibert conceptual pit.
• Lac Surprise – A property that hosts the Falcon Zone discovery, which Northern Superior has interpreted as the western strike extension of IAMGOLD’s Nelligan gold project.
• Chevrier – A gold project in the Chibougamau area with an NI 43-101 mineral resource estimate, including both indicated and inferred resources for open pit and underground mineralization.
• Croteau – A gold project with an NI 43-101 inferred mineral resource estimate, referred to in company technical reports as Croteau Est.
• Monster Lake East and Monster Lake West – Properties located on either side of IAMGOLD’s Monster Lake project and between Northern Superior’s Philibert and Chevrier projects. The company highlighted these properties as part of a broader land position along structures such as the Guercheville Fault Zone and trends associated with the Monster Lake area.

Through acquisitions and asset purchase agreements, Northern Superior expanded its land position in the Chibougamau Gold Camp, including the acquisition of the Hazeur, Monster Lake East and Monster Lake West properties. Company disclosures state that these additions increased its total land position in the camp from about 60,000 hectares to more than 68,000 hectares, and later to more than 70,000 hectares, and extended its control along key structural corridors.

Interest in ONGold Resources Ltd. and other regions

In addition to its Québec portfolio, Northern Superior held a significant equity interest in ONGold Resources Ltd. Company disclosures report Northern Superior’s ownership in ONGold at different times as approximately 48.5% and, in later releases, 56%. ONGold was described as advancing exploration assets in Northern Ontario and Manitoba, including the district-scale TPK Project and Monument Bay. The company also noted that Agnico Eagle Mines Limited owns a minority interest in ONGold.

As part of the arrangement with IAMGOLD, all ONGold shares held by Northern Superior were to be distributed to Northern Superior shareholders on a pro rata basis immediately prior to closing, so that former Northern Superior shareholders would hold those ONGold shares directly.

Exploration activities and technical work

Company news releases describe extensive exploration activity across Northern Superior’s properties. At Philibert, Northern Superior reported a multi‑tens‑of‑thousands‑of‑metres expansion drilling campaign targeting zones such as the Corsac Fox Hanging Wall and Arctic Fox Footwall. Reported drill results included intervals of gold mineralization over various widths and grades, including near‑surface and deeper intercepts within and near a conceptual open pit shell.

At Hazeur, Northern Superior reported that historical drilling and compilation work identified mineralized intervals west of the Philibert conceptual pit, interpreted by the company as the western extension of the Red Fox zone. The company also described ongoing work such as re‑logging and re‑sampling of historical core, compilation of assessment data, and reconnaissance programs including mapping and surface sampling.

For newly acquired claims north of the Chevrier property, Northern Superior described the geological setting, including structures and formations that it considered prospective for various mineralization styles. The company indicated that reconnaissance work was underway, including mapping and collection of surface samples, and that the area had seen limited systematic exploration historically.

Across its projects, Northern Superior stated that it followed NI 43‑101 standards of disclosure for mineral projects and that its technical content and drilling results were reviewed and approved by a qualified person as defined under NI 43‑101. The company described sampling, assay and quality assurance/quality control protocols for core handling and laboratory analysis.

Status of NSUPF stock and historical context

Following completion of the arrangement with IAMGOLD, Northern Superior’s common shares are expected to be delisted from the TSX Venture Exchange, and the company has indicated that it will apply to cease to be a reporting issuer in several Canadian provinces. As a result, the NSUPF ticker now represents a company that has been acquired and operates as a wholly owned subsidiary of IAMGOLD, rather than an independent public issuer.

For investors and researchers, NSUPF therefore serves primarily as a historical record of Northern Superior’s period as a standalone gold exploration company with a focus on the Chibougamau Gold Camp and its interest in ONGold Resources Ltd. Current exposure to the underlying Québec assets described in Northern Superior’s disclosures is now through IAMGOLD Corporation, while exposure to the ONGold assets is through ONGold shares distributed to former Northern Superior shareholders.

Frequently asked questions about Northern Superior Resources Inc. (NSUPF)

• What did Northern Superior Resources Inc. do?
  Northern Superior Resources Inc. described itself as a gold exploration company focused on the Chibougamau Camp in Québec, Canada. It consolidated a large land package in this region and advanced projects such as Philibert, Lac Surprise, Chevrier and Croteau, along with properties around Monster Lake.
• What happened to Northern Superior and the NSUPF stock?
  According to company news releases, IAMGOLD Corporation acquired all of the issued and outstanding common shares of Northern Superior through a statutory plan of arrangement. Following this transaction, Northern Superior became a wholly owned subsidiary of IAMGOLD, and the company stated that its shares will be delisted from the TSX Venture Exchange and that it will apply to cease to be a reporting issuer in certain Canadian provinces.
• How were Northern Superior shareholders compensated in the IAMGOLD transaction?
  Company disclosures state that, for each Northern Superior share held immediately prior to the effective time of the arrangement, former shareholders became entitled to receive a combination of IAMGOLD common shares and cash. In addition, all ONGold Resources Ltd. shares held by Northern Superior were to be distributed to Northern Superior shareholders on a pro rata basis.
• Where were Northern Superior’s main exploration projects located?
  Northern Superior’s main projects were located in the Chibougamau Gold Camp in Québec, Canada. These included the Philibert, Hazeur, Lac Surprise, Chevrier, Croteau, Monster Lake East and Monster Lake West properties. Through ONGold, the company also had exposure to exploration assets in Northern Ontario and Manitoba.
• What was notable about the Philibert project?
  Philibert was described as a flagship project located approximately 9 km from IAMGOLD’s Nelligan gold project. Northern Superior reported a maiden NI 43‑101 mineral resource for Philibert with both inferred and indicated gold resources, and the company held a majority interest in the project with an option to acquire full ownership.
• How was Northern Superior related to ONGold Resources Ltd.?
  Northern Superior disclosed that it held a significant equity interest in ONGold Resources Ltd., reported at different times as approximately 48.5% and 56%. ONGold was described as advancing exploration assets in Northern Ontario and Manitoba, including the TPK Project and Monument Bay. As part of the arrangement with IAMGOLD, Northern Superior’s ONGold shares were to be distributed to Northern Superior shareholders.
• Did Northern Superior follow NI 43‑101 standards?
  Yes. The company stated that its technical content and drilling results were prepared in accordance with National Instrument 43‑101 Standards of Disclosure for Mineral Projects and that a qualified person, as defined under NI 43‑101, reviewed and approved this information.
• Is Northern Superior still a public reporting issuer?
  Company news releases state that, following completion of the arrangement with IAMGOLD, Northern Superior’s shares will be delisted from the TSX Venture Exchange and that an application will be made for the company to cease to be a reporting issuer in Ontario, British Columbia, Alberta and Québec. These disclosures indicate a transition away from public reporting status.