Northern Superior Strengthens Leadership with Appointment of Accomplished Chief Financial Officer

Rhea-AI Summary

Northern Superior Resources Inc. (TSXV:SUP)(OTCQX:NSUPF) appoints Mr. Gregory Duras as Chief Financial Officer, bringing over 25 years of experience in the resource sector and corporate development. Mr. Duras has held CFO positions at several publicly traded companies, including Consolidated Uranium Inc. The company expresses gratitude to outgoing CFO, Jeannine Webb.

TORONTO, ON / ACCESSWIRE / December 19, 2023 / Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSXV:SUP)(OTCQX:NSUPF) is pleased to announce that Mr. Gregory Duras, B.Admin., CPA, CGA, has been appointed as Chief Financial Officer of the Company, effective immediately.

Mr. Duras is a senior executive with over 25 years of experience working in the resource sector in corporate development, financial management, cost control positions, and spearheaded large corporate transactions and financings. He's held the position of Chief Financial Officer at several publicly traded companies, including Consolidated Uranium Inc., which was recently acquired by IsoEnergy Ltd. in a C$200M transaction. He holds a Bachelor of Administration degree from Lakehead University and completed his Chartered Professional Accountant (CPA) designation in 1998.

Simon Marcotte, President and Chief Executive Officer of Northern Superior, stated: "As we steadfastly advance our aggressive strategy in the dynamic landscapes of Quebec and Ontario, we recognize the importance of leveraging key expertise to fuel our growth. Greg's extensive experience, particularly in the realm of mergers and acquisitions, is poised to play a pivotal role going forward. On behalf of the entire Northern Superior team, I extend a heartfelt welcome to Greg, expressing our collective anticipation for the valuable contributions he is sure to bring to the Company."

The Company expresses its sincere appreciation to Jeannine Webb for her dedicated service over the past several years and extends best wishes for success in all her future endeavors.

About Northern Superior Resources Inc.

Northern Superior is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company has consolidated the largest land package in the region, with total land holdings currently exceeding 62,000 hectares. The main properties include Philibert, Lac Surprise, Chevrier and Croteau. Northern Superior also owns significant exploration assets in Northern Ontario highlighted by the district scale TPK Project.

The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan Gold project which was awarded the "Discovery of the Year" by the Québec Mineral Exploration Association (AEMQ) in 2019. Philibert host a new maiden 43-101 inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces of Au^[1]. Northern Superior holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by SOQUEM, and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 260,000 ounces Au.^[2] Croteau hosts an inferred mineral resource of 640,000 ounces Au.^[3] Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Deposit.

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 Venture Market under the symbol NSUPF. For further information, please refer to the Company's website at www.nsuperior.com or on SEDAR+ (www.sedarplus.ca).

^{[1] Northern Superior announces 1,708,809 gold ounces in inferred category and 278,921 gold ounces in indicated category at 1.10 g/t in maiden NI 43-101 pit constrained resource estimate at Philibert; Northern Superior Resources Inc. press release dated August 08, 2023.}

^{[2] NI 43-101 Technical Report Mineral Resource Estimation for the Chevrier Main Deposit, Chevrier Project Chibougamau, Quebec, Canada, October 20, 2021, Prepared in accordance with National Instrument 43-101 by Lions Gate Geological Consulting Inc. IOS Services Géoscientifiques Inc. for Northern Superior Resources Inc.}

^{[3] Chalice Gold Mines Limited and Northern Superior Resources Inc. Technical Report on the Croteau Est Gold Project, Québec, September 2015, Prepared in accordance with National Instrument 43-101 by Optiro Pty Ltd ("Optiro") to Chalice Gold Mines Limited and Northern Superior Resources Inc.}

Northern Superior Resources Inc. on Behalf of the Board of Directors

Simon Marcotte, CFA, President and Chief Executive Officer

Contact Information

Simon Marcotte, CFA
President and Chief Executive Officer
Tel: (647) 801-7273
info@nsuperior.com

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 press release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the proposed transaction; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward- looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of Northern Superior, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of the parties to execute the proposed transaction. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

SOURCE: Northern Superior Resources Inc.

View the original press release on accesswire.com

FAQ

Who is the new Chief Financial Officer of Northern Superior Resources Inc.?

Mr. Gregory Duras has been appointed as the new Chief Financial Officer of Northern Superior Resources Inc.

What is the stock ticker symbol for Northern Superior Resources Inc.?

The stock ticker symbols for Northern Superior Resources Inc. are TSXV:SUP and OTCQX:NSUPF.

What is Mr. Gregory Duras's background and experience?

Mr. Gregory Duras has over 25 years of experience in the resource sector, corporate development, financial management, and cost control positions. He has also spearheaded large corporate transactions and financings.

What is the recent transaction involving Consolidated Uranium Inc.?

Consolidated Uranium Inc. was recently acquired by IsoEnergy Ltd. in a C$200M transaction.

Who is the President and CEO of Northern Superior Resources Inc.?

Simon Marcotte is the President and Chief Executive Officer of Northern Superior Resources Inc.