Superior Gold Inc. announces further significant underground drilling results

INTERSECTIONS INCLUDE 205.80 G AU/T OVER 1.20 METRES, 298.00 G AU/T OVER 0.60 METRES, 12.20 G AU/T OVER 6.60 METRES AND 14.50 G AU/T OVER 3.70 METRES

TORONTO, March 15, 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 December 1, 2017 to January 31 2018 and is part of the year-round ongoing program of underground drilling.

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Superior Gold - Figure 1 (CNW Group/Superior Gold)

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

Results are provided for 149 drill holes for a total of approximately 10,000 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 seven zones – Area 134; Baltic; Caribbean; Caspian; Cortez; Indian; and Pacific. A number of significant intersections were encountered. 

KEY FINDINGS

• 187 intersections encountered more than 5g Au/t
  
  
• 103 intersections encountered more than 10g Au/t
  
  
• 30 intersections encountered more than 20g Au/t
  
  
• 7 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: "As with our previously released underground drill results, these latest results continue to demonstrate the strength of the mineralized system at the Plutonic Gold Mine. We continue to work towards increasing the confidence level in the resources in order to achieve one of our principal goals, which is to grow the level of underground reserves and to extend the mine life. The Company is currently working on completing a reserve and resource update, which we  expect to release in the second quarter of 2018."

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)
AREA 134	UDD19996	4569	12676	1030	-88	80	45	31.80	33.70	1.90	13.2	1.3
	UDD19997	4569	12677	1030	-63	75	40	29.15	31.20	2.05	10.1	1.4
	UDD20002	4568	12679	1031	-29	82	51	9.10	10.10	1.00	17.8	0.7
BALTIC	UDD19980	4089	11759	968	84	359	28	0.00	0.40	0.40	27.3	0.3
	UDD19989	4391	11607	1085	21	360	56	37.50	38.00	0.50	23.4	0.4
	UDD19992	4384	11613	1084	10	1	51	33.90	34.20	0.30	70.4	0.2
CARIBBEAN	UDD19927	4551	11846	1092	-16	200	153	124.11	125.00	0.89	24.9	0.6
	UDD19930	4572	11841	1089	-29	155	79	6.50	7.30	0.80	21.9	0.6
								22.90	23.50	0.60	26.0	0.4
								48.30	48.90	0.60	23.1	0.4
	UDD19969	4545	11867	1094	-58	279	29	11.30	12.50	1.20	205.8	0.8
CASPIAN	UDD19952	4291	10860	1335	33	228	44	27.10	27.95	0.85	41.7	0.6
	UDD19956	4306	10847	1333	29	228	61	14.90	18.50	3.60	11.4	2.5
	UDD19958	4313	10840	1333	39	228	93	50.00	53.70	3.70	14.5	2.6
	UDD19961	4321	10834	1333	38	228	98	0.00	1.30	1.30	17.0	0.9
								2.40	3.80	1.40	17.2	1.0
								59.70	61.00	1.30	15.4	0.9
	UDD19963	4328	10827	1332	38	228	101	87.80	88.80	1.00	18.4	0.7
CORTEZ	UDD19901	5057	12363	1173	31	105	105	72.10	72.80	0.70	55.5	0.5
	UDD19903	5053	12350	1173	38	122	83	64.35	64.90	0.55	46.0	0.4
	UDD19905	5052	12348	1173	36	161	50	35.50	42.10	6.60	12.2	4.6
						Including		38.05	40.75	2.70	10.1	1.9
						And		41.10	42.10	1.00	44.8	0.7
	UDD19913	5034	12342	1171	1	164	39	1.00	7.65	6.65	10.1	4.7
	UDD19914	5035	12342	1170	-44	164	45	16.30	16.70	0.40	58.7	0.3
	UDD19917	5025	12338	1169	-77	164	45	9.10	9.65	0.55	60.4	0.4
	UDD19919	5018	12341	1170	-13	341	84	0.00	1.60	1.60	10.0	1.1
	UDD20014	4931	12198	1176	24	300	79	35.50	36.35	0.85	18.8	0.6
INDIAN	UDD19593	4211	11000	1398	24	216	91	63.60	67.10	3.50	7.6	2.5
	UDD19813	3975	11449	1136	-41	225	228	190.20	191.00	0.80	24.7	0.6
	UDD19882	4370	11391	1170	-34	138	13	0.00	0.60	0.60	298.0	0.4
	UDD19883	4371	11391	1170	-9	138	16	10.50	11.25	0.75	38.2	0.5
	UDD19885	4370	11391	1170	-63	138	18	13.20	17.50	4.30	7.3	3.0

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 industy 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 Gold Mine, which is a producing underground operation with a central mill, the Hermes open pit development 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 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]