High-grade Mineralization In A Favorable Location To The Current Portal At Plutonic

TORONTO - Superior Gold Inc. reported additional high-grade drill results from its ongoing underground diamond drill program at the Plutonic Gold mine in Western Australia. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.92 million ounces together with an Inferred Mineral Resource of 3.97 million ounces.  The Company's continuous exploration effort underpins a commitment to reserve and resource growth.

Results are from 57 underground exploration drill holes, drilled from October 2021 to March 2022, for a total of  7,397 meters of drilling.  Drilling was focused on extending and infilling known mineralization in the Indian Access area, located between the existing Caribbean and Indian mining areas at Plutonic.  The Indian Access mining area is under-explored and remains open along strike and both up and down dip as it is yet to be fully drill tested. The Indian Access mining area increased in priority following a reinterpretation of mineralization controls particularly given its proximity to existing infrastructure and the surface. This area of interest represents a footprint of approximately 500 meters by 300 meters as a possible future new mining front in an area that has limited historical mining. Drilling results from this statement were not included in the recent Mineral Resource estimates, however, it is the Company's intention to reflect these results in the planning for the 2022 mine plan as well as future iterations of the mine plans pending results from the resource model updates.

Highlights: 1) Drill hole UDD25437 intersected 58.9 g/t gold over 2.7 meters including 0.7 meter at 204.7 g/t gold. 2) Drill hole UDD25332 intersected 17.6 g/t gold over 7.7 meters including 0.7 meter at 23.6 g/t gold and 26.7 g/t gold over 1.8 meters including 1.0 meter 51.7 g/t gold. 3) Drill hole UDD25073 intersected 20.5 g/t gold over 5.1 meters including 1.0 meter at 98.8 g/t gold. 4) Drill hole UDD24898 intersected 12.1 g/t gold over 6.5 meters including 1.0 meter at 58.6 g/t gold. 5) Drill hole UDD25076 intersected 10.2 g/t gold over 6.9 meters including 0.8 meter at 36.9 g/t gold. 6) Drill hole UDD25079 intersected 20.9 g/t gold over 3.0 meters including 1.0 meter at 34.7 g/t gold.

Chris Jordaan, President and CEO, said, "These excellent drill results continue to support the Company's strategy of re-interpreting and re-evaluating historical areas of Plutonic to support future production with new mining fronts and reducing our reliance on remnant mining areas. These results announced today give us further confidence that high-grade extensions of the Plutonic orebody can be systematically targeted.  Results such as hole UDD25437 which intersected 58.9 g/t gold over 2.7 meters, and hole UDD25332 which intersected 17.6 g/t gold over meters indicate that significant mineralization can still be discovered. These drilling results have 26 intercepts containing over 20-gram meters (downhole intersection times Gold value uncut) and 64 intercepts containing over 4.5-gram meters on a total of 57 holes. The high drill success rate from this project area reflects the effectiveness and accuracy of the reinterpretation and remodeling approach currently applied. Our investment in re-interpreting historical data, with this recent success as an example, will further assist our strategy to extend Plutonic's mine life. The close proximity to the adit and the ease of access to this area is a favorable location for the current portal at the Plutonic Mine.”

The Indian Access intercepts such as 58.9 g/t gold over 2.7 meters in hole UDD25437, 17.6 g/t gold over 7.7 meters in hole UDD25332, 20.5 g/t gold over 5.1 meters in hole UDD25073, and many more significant intercepts demonstrates great potential in an under-explored area of the mine. These targets have been identified through careful re-interpretation of late crosscutting dykes and earlier Northwest faults. The grade intercepts are down dip extensions of known mineralization and also include a "new" zone approximately 100 meters from existing mining infrastructure. These high-grade zones are interpreted to coincide with a similar northwest control on stacked lodes that extend throughout the entire mine from the surface through to the Baltic Extension area.