Superior Gold Inc. Announces Additional High Grade Underground Drilling Results

INTERSECTIONS INCLUDE 40.0 G AU/T OVER 4.80 METRES, 36.9 G AU/T OVER 3.40 METRES, 100.2 G AU/T OVER 1.25 METRES AND 16.2 G AU/T OVER 5.35 METRES

TORONTO, May 3, 2018 /CNW/ - Superior Gold Inc. ("Superior Gold" or the "Company") (TSX.V:SGI) is pleased to announce additional results from the ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. The drilling was conducted from February 1, 2018 to February 28, 2018 and is part of the year-round ongoing program of underground drilling.

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Figure 1 - Location of Most Significant Intersections (CNW Group/Superior Gold)

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Table 2 - All Intersections (CNW Group/Superior Gold)

Results are provided for 65 drill holes for a total of approximately 5,800 metres. The drill holes were completed for resource definition and grade control purposes. Resource definition was designed to increase the confidence level of the resource in areas where drilling was limited as part of the ongoing work to upgrade resources to reserves. Grade control drilling was completed to provide additional information for stope design ahead of mining.

The drilling focussed on five zones – Caribbean; Caspian; Cortez; Indian; and Pacific. A number of significant intersections were encountered. 

KEY FINDINGS

• 83 intersections encountered more than 5g Au/t
• 45 intersections encountered more than 10g Au/t
• 16 intersections encountered more than 20g Au/t
• 4 intersections encountered more than 50g Au/t

The location of the most significant intersections are shown in Figure 1 and the details of all holes are summarized by zone in Table 2. Reported intersections are over a minimum downhole width of 0.30 metres (0.20 metres true width).

Chris Bradbrook, President and CEO of Superior Gold stated: "We continue to be very encouraged by the results of our underground diamond drill program, which demonstrate the strength of the Plutonic Gold mine's mineralized system, and which illustrate the long term potential of the mine. As recently announced (April 30, 2018) we have added a third underground diamond drill to accelerate our reserve and resource definition work, with the goal of further increasing our underground reserves and resources as soon as possible."

HIGHLIGHTS

The most significant intersections are summarized in Table 1 below:

Table 1 – Key Intersections

Designed Target	Drill Hole #	Easting (Mine Grid)	Northing (Mine Grid)	Drill hole collar RL (Mine Grid)	Dip (degrees)	Azimuth (degrees, Mine Grid)	End of hole depth  (m)	Downhole From (m)	Downhole To (m)	Downhole Intersection (m)	Au (gpt) uncut	Est True Thickness (m)
CASPIAN	UDD20028	4218	10800	1365	29	133	79	3.40	6.45	3.05	8.5	2.1
								69.66	72.26	2.60	32.5	1.8
	UDD20033	4199	10799	1365	32	145	90	13.00	18.35	5.35	16.2	3.7
						Including		16.70	18.35	1.65	43.3	1.2
	UDD20034	4199	10799	1366	45	164	71	6.65	11.45	4.80	40.0	3.4
						Including		7.65	8.00	0.35	41.9	0.2
						and		8.55	9.30	0.75	63.3	0.5
						and		10.20	11.45	1.25	100.2	0.9
	UDD20035	4199	10799	1365	29	152	105	17.60	21.00	3.40	36.9	2.4
						Including		18.95	21.00	2.05	58.6	1.4
	UDD20036	4198	10799	1366	46	183	81	3.25	6.30	3.05	6.6	2.1
						Including		3.25	3.80	0.55	24.1	0.4
	UDD20037	4199	10799	1365	35	164	107	16.20	18.80	2.60	10.4	1.8
						Including		17.80	18.80	1.00	15.4	0.7
	UDD20038	4218	10800	1365	36	120	62	49.80	51.30	1.50	12.5	1.1
	UDD20040	4218	10801	1364	16	108	86	4.50	5.50	1.00	20.2	0.7
	UDD20126	4336	10866	1265	10	259	81	57.46	58.59	1.13	16.7	0.8
CORTEZ	UDD19718	4829	11919	1191	83	274	35	17.05	22.00	4.95	4.7	3.5
	UDD19720	4816	11856	1182	44	195	63	26.30	32.65	6.35	7.3	4.4
						Including		30.60	31.65	1.05	30.1	0.7
	UDD19722	4829	11870	1186	59	301	41	11.50	14.85	3.35	5.3	2.3
	UDD19724	4831	11903	1190	38	264	41	22.80	25.60	2.80	6.2	2.0
INDIAN	UDD20136	4002	11452	1131	-38	150	158	111.78	117.00	5.22	8.8	3.7
						Including		111.78	113.55	1.77	19.5	1.2
	UDD20137	4002	11452	1131	-45	150	175	149.75	150.75	1.00	14.6	0.7
	UDD20140	3991	11452	1134	-13	150	153	110.80	112.00	1.20	15.5	0.8
	UDD20141	3991	11452	1133	-34	150	159	88.65	89.15	0.50	84.1	0.4
	UDD20154	3974	11448	1136	-38	199	216	26.30	28.00	1.70	8.4	1.2
PACIFIC	UDD20049	4817	12904	1172	17	56	63	46.30	48.30	2.00	8.6	1.4
								58.50	60.20	1.70	10.0	1.2

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by Pascal Blampain, who is a member of the AusIMM and the Australian Institute of Geoscientists (AIG) and a "qualified person" within the meaning of NI 43-101. Mr. Blampain is an employee of the Company and serves as Chief Geologist.

Quality Control Protocols

Core is drilled BTW core diameter (42 mm).  Core intervals are whole core sampled.  All gold results were determined by ALS Minerals (Perth) using fire assay fusion (40g charge, lead collection method) with an ICP finish.  Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices.  Standards, blanks and duplicates are included in approximately every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the laboratory.  Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

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, which is a producing underground operation with a central mill, the Hermes open pit gold mine 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 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.

SOURCE Superior Gold

Superior Gold Inc., Chris Bradbrook, President, CEO & Director, [email protected], Tel: [phone]