Northern Superior Completes Strategic Acquisition of Kintivar’s Gaspard Nord Property

Rhea-AI Summary

Northern Superior Resources has successfully acquired Kintivar Exploration Inc.'s Gaspard Nord mineral property, expanding its exploration potential in the Chapais-Chibougamau gold-copper camp. The 2.8 km² Gaspard Nord property is strategically located next to Northern Superior's Lac Surprise property and is believed to host extensions of the Falcon Zone, which has shown promising gold-silver mineralization. The acquisition includes a 2% net smelter return royalty and is expected to enhance the company's exploration strategy with a $6M budget allocated for 2022.

Positive

• Acquisition of Gaspard Nord property enhances exploration strategy and potential resources.
• Gaspard Nord's proximity to the Falcon Zone indicates strong mineralization opportunities.
• A $6M budget for exploration in 2022 is the largest ever for Québec-focused programs, suggesting a robust commitment to growth.

Negative

• None.

SUDBURY, ON / ACCESSWIRE / December 21, 2021 / Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSXV:SUP) is pleased to announce that it has completed its acquisition of 100% of Kintivar Exploration Inc.'s (KTR) Gaspard Nord mineral property (see Northern Superior press release, September 15, 2021). Located in the Chapais- Chibougamau gold- copper camp, the Gaspard Nord property consists of 5 claims covering an area of 2.8km² and ties onto the northern part of Northern Superior's large, 100% owned Lac Surprise mineral property (Figure 1).

The Gaspard Nord property overlies a portion of the Opawica Guercherville Deformation Zone (OGDZ) which extends southeast across northern parts of the Lac Surprise property for over 11.5 km and hosts the Company's recently discovered Falcon Zone (gold-silver) (see Northern Superior press release, August 17, 2021) (Figure 2). This zone is believed to be a 900m extension of the neighbouring Vanstar/ IAMGold, 3.2M ounce (at 1.02 g/t Au) Nelligan deposit*, which is also hosted in the OGDZ. Vanstar/ IAMGold recently announced results further supporting the potential western extension of the Nelligan gold deposit onto the Lac Surprise property (see Vanstar/ IAMGold press releases, December 16, 2021). Those results, approximately 2.1 km from the eastern end of the Falcon Zone, included 40.5 m at 1.28 g/t Au (NE-21-178) and 15.0 m at 7.81 g/t Au (NE-21-180): best holes reported from the Falcon Zone include 44.9m at 1.54 g/t Au (LCS21-029) and 42.6m at 1.99g/t Au (LCS21-032) (see Northern Superior press release August 17, 2021).

With the large majority of the OGDZ yet to be explored we see significant potential for additional discoveries along this trend as well two other major deformation zones that cut across the property the Remick and Doda to the south.

Dr. T.F. Morris (PhD., P,Geo, FGAC, ICD.D), President and CEO of Northern Superior commented: "Acquiring additional ground associated with the OGDZ hosting gold showings and soil "B" horizon gold geochemical anomalies, and occurring west of and along strike from the Falcon Gold Zone, is an exciting opportunity to understand the potential for additional gold mineralization west of the Falcon Zone."

"The Company anticipates an exciting exploration year for the Lac Surprise property, with not only investigating the westward extension of the Falcon Zone but also exploring the mineral potential of the Confluence and Amber areas."

"With a $6M budget allocated to exploration in Quebec for 2022 (see Northern Superior press release, December 3, 2021), Northern Superior looks forward to announcing its 2022 exploration plans for not only the Lac Surprise property in the new year, but also for it's 100% owned Croteau Est and Wapistan properties as well. The 2022 program will be the largest ever Québec focused exploration program in the Company's history."

Northern Superior agreed to issue 85,000 common shares of the Company to Kintivar and to grant Kintivar a 2% net smelter return royalty ("NSR") on the property. The common shares to be issued will be subject to a four month hold ending on April 16, 2022. Northern Superior has also retained an option to buyback 1% of the NSR royalty for $1M and a right of first refusal on any proposed transfer of the NSR royalty to a third party. No finder's fees were payable in connection with the acquisition. TSX Venture Exchange acceptance of the transaction was received on December 15, 2021.

Note to readers: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

*Reference for IAMGOLD/Vanstar's Nelligan 3.2MM Inferred Gold Resource: "Carrier, Alain (M.Sc., P.Geo); Nadeau-Benoit, Vincent (P.Geo); Fauvre, Stéphane (PhD., P.Geo). October 22, 2019. NI 43-101 Technical Report and Initial Resource Estimate for the Nelligan Project, Québec, Canada."

Reference Cited:

Huss, L. (2010). Propriété Vent d'Or, Exploration 2010. Corporation Minière Golden Share, GM65493, 59 pages.

Qualified Person

Michel Leblanc (P.Geo.) is a Qualified Person ("QP") within the meaning of National Instrument 43-101. Mr. Leblanc has reviewed, and approved information disclosed in this press release.

About Northern Superior

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP, and the OTCQB VentureMarket under the symbol NSUPF.

For further information contact:

Thomas F. Morris PGeo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.com
www.nsuperior.com

Cautionary Note Regarding Forward-Looking Statements

This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1. Location, Gaspard Nord property relative to the Lac Surprise property.

Figure 2. Location of the OGDZ in relation to the Gaspard Nord properties, the newly discovered Falcon Zone and the Vanstar/ IAMGold Nelligan gold deposit.

SOURCE: Northern Superior Resources Inc.

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FAQ

What is the significance of Northern Superior's acquisition of the Gaspard Nord property?

The acquisition enhances Northern Superior's exploration potential in a promising mineral-rich area, particularly in relation to the Falcon Zone.

What are the details of the Gaspard Nord property acquisition?

Northern Superior acquired 100% of Kintivar's Gaspard Nord property for 85,000 common shares and granted a 2% net smelter return royalty.

How does the Gaspard Nord property relate to the Falcon Zone?

The Gaspard Nord property is believed to host extensions of the Falcon Zone, which has shown promising gold-silver mineralization.

What is Northern Superior's budget for exploration in 2022?

Northern Superior has allocated a $6M budget for exploration in Québec for 2022, which is their largest ever.

When was the transaction for the Gaspard Nord property completed?

The acquisition of the Gaspard Nord property was completed on December 21, 2021.