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Last C$0.03 CAD
Change Today -0.005 / -14.29%
Volume 3.0K
SUP On Other Exchanges
As of 9:30 AM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

northern superior resources (SUP) Snapshot

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06/2/14 - C$0.05
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northern superior resources (SUP) Details

Northern Superior Resources Inc., an exploration stage junior mining company, engages in the identification, acquisition, evaluation, and exploration of gold properties in Canada. The company holds interests in properties located in the Stull-Wunnimun and Chibougamau gold districts of Ontario and Quebec. It primarily holds interests in the Croteau Est property, which consists of 513 claims covering an area of approximately 22,576 hectares; and Ti-pa-haa-kaa-ning gold property that comprises 64 mining claims covering an area of 3,717 hectares. The company also holds interests in the Lac Surprise gold property consisting of 365 claims covering an area of approximately 20,352 hectares; and Grizzly gold property, which consists of 147 contiguous claims covering an area of 8,015 hectares. Northern Superior Resources Inc. is headquartered in Sudbury, Canada.

northern superior resources (SUP) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$225.0K
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

northern superior resources (SUP) Key Developments

Northern Superior Resources, Inc. Announces Drill Program at Croteau Est Property, West Central Quebec

Northern Superior Resources Inc. announced that planning for its 2015 Croteau Est drill program, is complete. Initiation of the core drill phase of the program is planned for June 9th, 2015. The drill program for 2015 will be comprised of three phases: A core drill program to infill gaps within the currently defined Croteau Bouchard Shear Zone (CBSZ) structural corridor. Twelve holes are planned from six collar locations. Two holes are planned for the western part of the CBSZ, the other ten on the east side of the CBSZ in order to provide a series of near surface pierce points (40- 100 m vertical depth) in an area where the majority of core hole intercepts are on the order of 175- 300 m vertical depth. Upon completion of the drill core program, all data will be submitted to a third party contractor for the construction of a wireframe model and a resource estimate of the CBSZ to 43-101/JORC standards; The completion of forty- eight vertical, 3.5" diameter reverse circulation (RC) drill holes in the vicinity of the CBSZ. Results from this RC drilling program should provide further definition to the mineralization potential of the Croteau Fault and its inferred association with the CBSZ, and to provide scope for the sighting of core holes within this target area during future drilling on the property; and Eight additional RC drill holes to test a prominent magnetic target, located on the northeastern part of the property.

Northern Superior Resources Inc. Enters into Formal Option and Joint Venture Agreement with a Subsidiary of Chalice Gold Mines Limited

Northern Superior Resources Inc. has entered into a formal option and joint venture agreement with a subsidiary of Chalice Gold Mines Limited relating to Northern Superior's Croteau Est gold property, west-central Québec. Pursuant to the agreement, Chalice can earn a 65% joint venture interest in the Croteau Est property by spending an aggregate of $4,000,000 on exploration expenditures over three years. Chalice is obligated to spend a minimum of $500,000 on exploration of the Croteau Est property in the first year regardless of whether it fully exercises its option. Upon completion of the $4,000,000 expenditure earn-in requirement, a joint venture will be formed with Chalice holding a 65% joint venture interest and Northern Superior owning a 35% joint venture interest and thereafter, each party will be required to contribute to any further programs pro rata according to its joint venture interest. Should a joint venture party fail to make any of its required program contributions, its interest will be diluted accordingly. If a party's joint venture interest is diluted below 10%, its joint venture interest will be converted to a NSR interest as follows: (i) with respect to any claims which are already subject to an NSR (to a third party): for period(s) where the price of gold is less than CAD 1,800 per ounce, a 1% NSR; and for period(s) where the price of gold exceeds CAD 1,800 per ounce, a 2% NSR; and (ii) with respect to all other claims, a 2% NSR, and in each case, one-half of the NSR percentages can be bought back for $1,000,000.

Northern Superior Resources Inc. Updates Board Committees and Management Responsibilities

Northern Superior Resources Inc. has made several changes to its various Board Committees following the departure of Mr. Brian Booth as director effective December 31, 2014. The Board Committees of the company are now constituted as follows: Audit Committee: Arnold Klassen (Chair), Alan Moon and Fred Lecoq; Environment, Health, Safety & Corporate Social Responsibility Committee: K.Wayne Livngstone (Chair), John Pollesel and Fred Lecoq; Compensation Committee: John Pollesel (Chair), Alan Moon and Fred Lecoq; Corporate Governance Committee: Fred Lecoq (Chair), K. Wayne Livingstone and Arnold Klassen. In addition, Mr. Scott Parsons, formerly Vice President of Operations, has left Northern Superior to pursue other interests. Dr. Thomas Morris, President and CEO of the company has assumed Mr. Parsons responsibilities.


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