Northern Superior Resources Announces A C$3.0 Million Dollar Non-brokered Private Placement

Not for distribution to United States newswire services or dissemination in the United States

SUDBURY, ON / ACCESSWIRE / October 18, 2021 / Northern Superior Resources Inc. (the "Company" or "Northern Superior") (TSXV:SUP)(OTCQB:NSUPF) is pleased to announce it has arranged a new, C$3,000,000 non-brokered private placement (the "Offering").

This Offering will consist of a combination of: (i) flow-through common shares of the Company issued to subscribers in Québec ("Québec FT Shares"), at a price of $0.90 per Québec FT Share; and (ii) "charity" flow-through common shares of the Company, issued to subscribers in Québec ("Québec Charity FT Shares" and together with the Québec FT Shares, the "FT Shares"), at a front-end issue price of $1.18 per Québec Charity FT.

The gross proceeds received by the Corporation from the sale of the FT Shares will be used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the corporation's gold projects in the Province of Québec, notably Lac Surprise and Croteau Est, which will be renounced to subscribers with an effective date no later than December 31, 2021.

Dr. Thomas Morris, CEO states: "Dr. Thomas Morris, CEO states: "With the recent gold discovery at Lac Surprise (see Northern Superior press release August 17, 2021) and the pending results from the reverse circulation drill program (RC) expected by year end on the Croteau Est gold property (see Northern Superior press release August 24, 2021) we feel the application of these funds is essential in advancing both of these significant and highly prospective opportunities for our shareholders."

For further information regarding these exploration properties the reader is referred to the Company's corporate presentation posted on Northern Superior's website at www.nsuperior.com."

All securities sold pursuant to the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. Commissions may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before December 14, 2021 and is subject to customary closing conditions including, but not limited to; the negotiation, execution of subscription agreements with investors and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.