Northern Superior Appoints Red Cloud as Capital Market Advisors
SUDBURY, ONTARIO--(Marketwired - Sep 1, 2016) - Northern Superior Resources Inc. (TSX VENTURE:SUP) ("Northern Superior" or the "Company") reports that it has entered into a public relations agreement with Red Cloud Klondike Strike Inc. ("Red Cloud"), a Toronto- based company, to provide capital markets advisory services.
Northern Superior will focus its' marketing efforts around its 100% owned, Croteau Est gold property, located in west- central Québec. This property has already defined an inferred resource for the central section (approximately 550m strike by 150m width) of the Croteau Bouchard Shear Zone ("CBSZ") reported using a gold cut-off of 1.0 g/t Au totaling 11.6 million tonnes grading 1.7ppm Au, yielding 640,000 ounces of gold. This inferred mineral resource estimate is based on only 64 core drill holes (20,643 m). In addition, an exploration potential/target, ranging from 3.2 to 3.8 million tonnes, for a total of 122,000 to 270,000 ounces of gold, was also identified by single drill hole intersections (see press release January 14th, 2016).
Mineralization associated with the CBSZ occurs at surface, and remains open along strike in both directions (length defined thus far 1.1km) and at depth (only one hole to 575m vertical depth). Management believes that a modest core drilling program (30 holes, 9,000m, $1.5- $2 million budget) has the potential to increase the number of ounces associated with this deposit. In addition to the inferred resource, Northern Superior's property- scale prospecting programs and structural studies identified additional gold- bearing shear zones within the Croteau Est property (see press releases November 3, 2014 and April 21, 2015).
Dr. T.F. Morris, President and CEO of Northern Superior commented: "With the commodity markets finally emerging from a difficult, four year downturn, Northern Superior is now poised to re-introduce the Company aggressively to the financial markets and remind the Company's shareholders of the valuable assets under Northern Superior's control. In addition to Croteau Est, the Company took advantage of this downturn to position several of its other key assets for aggressive core drill programs (TPK, Lac Surprise, Ville Marie)."
About Northern Superior Resources Inc. (www.nsuperior.com)
Northern Superior is a junior exploration company exploring primarily for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Croteau Est property in Québec. Northern Superior also has a number of other 100% owned properties in Ontario and Québec. Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.
About Red Cloud
Red Cloud is a Toronto- based, exempt market dealer focused on providing unique and innovative marketing growth opportunities and market exposure for select mining and mineral exploration companies. The Red Cloud team has a mix of technical and financial expertise with over a 100 cumulative years of combined mining and corporate advisory experience. Working as an extension of management, the Red Cloud team uses its global network or mining and capital market professionals and extensive in-house experience in the many facets of the mining and mineral exploration business to help companies generate and maintain important relationships with key investors. Northern Superior will pay a $7500 a month (initiated September 1st, minimum three month term) consulting fee to Red Cloud for this service.
For more information about Northern Superior, please visit www.nsuperior.com
Neither 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.
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.