TORONTO, July 31, 2019 - Superior Gold Inc. ("Superior Gold" or the "Company") (TSXV:SGI) announces today that, as a result of a review by staff of the Ontario Securities Commission, the Company is issuing the following news release regarding its previous disclosure made with respect to the Plutonic Gold Operations.
On June 21, 2019, the Company announced (the "Prior Release") the filing of its technical report entitled "2019 Mineral Resource and Reserve Estimate for the Plutonic Gold Operations" (the "Technical Report") which was filed to support the Company's previously released update on the Plutonic Gold Operations.
As noted in the Prior Release, scientific and technical information therein was reviewed and approved by Mr. Pascal Blampain, a member of the AusIMM and the Australian Institute of Geoscientists (AIG) and a "qualified person" within the meaning of National Instrument 43-101 - Standards for Disclosure for Mineral Projects ("NI 43-101"). Mr. Blampain is an employee of the Company and serves as its Chief Geologist.
The Company wishes to clarify that Mr. Blampain has reviewed and approved the contents of all component parts of the Technical Report, other than those sections reviewed and prepared by Mr. Matthew Keenan, MAusIMM (CP), BEng, who is also a "qualified person" within the meaning of NI 43-101. Two additional authors of the prior Technical Report did not meet the definition of a qualified person. Each of Messrs. Blampain and Keenan have confirmed that no changes or amendments are required to any of the technical or scientific information in the Technical Report and there are no differences with respect to the mineral reserve and mineral resource estimates or the recommendations and conclusions provided in the original report.
The Technical Report will be re-filed on SEDAR and made available to investors on the Company's website.
About Superior Gold
Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold Operations located in Western Australia. The Plutonic Gold Operations include the Plutonic Gold mine and central mill, the Hermes open pit gold project and an interest in the Bryah Basin joint venture. Superior Gold is focused on expanding production at the Plutonic Gold Operations and building an intermediate gold producer with superior returns for shareholders.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and statements regarding exploration results and exploration plans.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's prospectus dated February 15, 2017 filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.