SUPERIOR GOLD ANNOUNCES THE FILING OF ITS MANAGEMENT INFORMATION CIRCULAR AND NOMINATION OF MICHAEL PESNER TO THE BOARD OF DIRECTORS

TORONTO, May 20, 2022 /CNW/ - Superior Gold Inc. ("Superior Gold" or the "Company") (TSXV: SGI) (OTC: SUPGF) is pleased to announce the filing of its management information circular for its upcoming Annual General Meeting on June 23, 2022, which includes the nomination of Mr. Michael Pesner to the Board of Directors of the Company as an independent director. After five years as Chairman of the Board, Mr. Mark Wellings will not be seeking re-election due to other professional commitments. Mr. René Marion, currently an Independent Director, will be nominated to replace Mr. Wellings as Chairman. Mr. Marion is an accomplished Director and Chairman, with over 30 years of diversified management and senior technical experience within the mining sector.  He brings a strong focus on corporate governance, and risk management with significant expertise in executing complex mergers and acquisitions. Mr. Marion was previously Chairman of Richmont Mines Ltd. and Guyana Goldfields Inc.

Michael Pesner (CNW Group/Superior Gold)

Mr. Pesner is President of Hermitage Canada Finance Inc., a company he founded in 2002 that provides financial advisory, mergers and acquisitions, and financial advisory services to public and private corporations in diverse industries. Prior to that, he spent 26 years at KPMG and predecessor firms where he accumulated a considerable amount of experience in financial management, corporate governance, and investment banking, including M&A transactions as well as debt and equity financing. His past and present directorship experience includes KPMG, David's Tea, Fonds Régional de Montréal, FTQ, Richmont Mines, SAQ (Société des alcools du Québec) and Wallbridge Mining to name just a few. His roles in various capacities including Lead Director and Audit Committee Chair, at such high-profile organizations, earned him the distinction of being named as one of Quebec's Top 10 Corporate Directors in Les Affaires newspaper.

Chris Jordaan, President, and CEO of Superior Gold stated: "We are very pleased to nominate Michael to the Board. The addition of his strong financial skill set will be beneficial as we continue to grow and expand operations at the Plutonic Gold Mine. We would also like to sincerely thank Mark for his invaluable contributions to the Board over the last five years.  He has been the Chairman since the IPO and has navigated the Company to the successful production growth story it is today. We wish him all the best in his future endeavors."

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 underground gold mine and central mill, numerous open-pit projects including the Plutonic Main Pit push-back project, the Hermes open pit projects, 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.

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SOURCE Superior Gold

Superior Gold Inc., Mike McAllister, CPIR, Vice President Investor Relations, [email protected], Tel: [phone]